New Product Development

Question 1

Primary Research

Answer 1

New original information

Question 2

Qualitative

Answer 2

Not numbers

Question 3

Advertising Specialties

Answer 3

anything with the advertisers name given as a gift to consumer

Jack daniels shot glass when purchasing jack Daniel bottle

Question 4

Product Line Filling

Answer 4

Adding more options to the product line

Question 5

What 3 things does Sweet Spot combine

Answer 5

Human Values
Technology
Business

Question 6

What are 3 examples of Brand Identity

Answer 6

Name
Logo
Tag line

Question 7

Product Mix Depth

Answer 7

Number of versions of each product

Question 8

What does AIDA stand for?

Answer 8

Attention
Interest
Desire
Action

Question 9

What is an example of Product Mix Depth

Answer 9

Different flavors of COKE

Question 10

Sales Promotion

Answer 10

short term incentive to encourage purchase of product

Question 11

Point of Purchase Promotion

Answer 11

Promotion that happens when product is purchased

Question 12

Quantitative

Answer 12

Numbers

Question 13

What 6 things are included in the Introductory Stage?

Answer 13

high failure rates 
frequent modifications
limited distribution 
personal selling
high advertising costs
high personal selling costs

Question 14

What 4 things does Design Thinking include

Answer 14

Human centered
Collaborative
Experimental
Optimistic

Question 15

Non Random Sample

Answer 15

Samples are selected by convenience

Question 16

What 2 things does Product mix width do?

Answer 16

Lowers risk

capitalizes on established reputation

Question 17

Brand Equity = ————- + ————–

Answer 17

Brand Awareness + Brand Image

Question 18

Product mix width

Answer 18

Number of product lines

Question 19

Perishable

Answer 19

Cannot be stored or cannot make up for lost time

Question 20

Random Samples

Answer 20

Every sample as the equal chance of being selected

Question 21

What are 4 ways how services differ from goods?

Answer 21

Intangible
Inseparable
Variable
Perishable

Question 22

Rebates

Answer 22

Cash Refund

Question 23

Brand Equity =

Answer 23

Total Earnings -Earnings from Tangible Assets

Question 24

Premium

Answer 24

Buy one get one free

Question 25

Secondary Research

Answer 25

Using existing information

Question 26

What are the 3 types of product modifications

Answer 26

Quality
Functional
Style

Question 27

Product item

Answer 27

A version of a product that is distinct

Question 28

What are the adopter categories

Answer 28

Innovators
Early adopters 
Early majority 
Late Majority 
Laggers

Question 29

Brand Equity = PBP (-) PG x TUS

Answer 29

Price of Branded Product - Price of Generic x Total Units sold

Question 30

Representative Sampling

Answer 30

Reflects everyone’s view

Question 31

Value Proposition

Answer 31

Benefits the customer will receive