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60 new products for...
one new commercial product
80/20 rule
80% of your profit comes from 20% of your customers
Markets become...
more heterogenous over time
Primary v.s Secondary date
Primary- A study made specifically for that product Secondary- research not done directly for the product. Can be less accurate trying to apply studies to a product it wasn't made for
Close ended question
-can be yes or no question -this is a dichotomous question
Leading question
"oh you're going to the hockey game tn, right?"
two questions in one
do you like hamburgers and chicken nuggets?
less than is inelastic and more than one
is elastic
Product class
Automobiles
Product form
SUV or pick up trucks
brand
ford
Multiple branding
P&G
Family branding
Honda Motorcycle, cars and snow plows -they all have the honda name
Exploratory Research
Don'r know where to start or what the problem is
Causal research
cause and effect research -independent and dependent variables -the different colored truck example from recitation
Amazon.com uses its customer billing records to send out personalized emails to customers suggesting products for purchase. In Amazon's marketing information system, which MIS classification is represented by this use of the billing records?
internal secondary data
DirectProtect is an insurance provider that uses telemarketers rather than insurance agents to sell its insurance and to deal with claims. It wants to introduce its product into new markets, but before it does so, it wants to forecast how successful its sales efforts will be. One of the…
focus group
Richard wants to survey UB students to see if they feel their tuition is being spent well. He decides one day to go around campus and conduct face-to-face "intercept" interviews with students at 4 major locations across the north campus during a 2 hour period one Tuesday morning. He int…
Sampling and interviewer
The first stage of the new product development process that attempts to determine if the new idea would likely be successful from a financial point of view is
Business Analysis
What type of innovation is usually considered a change in product form?
Dynamically Continuous
Which of the following speeds the adoption of a new product?
relative advantage and compatibility
The most common types of exploratory research are
Observation, depth interviews and focus groups
The response rate of a survey represents
The percentage of the sample chosen that completes a survey
A company advertised in a widely read magazine with a fairly diverse audience, but only thinks a small fraction of the audience is in the market for their product. The company is using what type of approach to reachability?
self-selection
Benefits sought by consumers are an example of what type of measure used by marketers to segment consumers into groups?
Subjective Specific
Which segmentation criteria requires that there be an efficient method of communicating with a group of consumers?
Reachability
Which aspect of STP marketing deals directly with how the consumer “thinks about” your brand?
Positioning
Which level of a product is most associated with “winning the game” or having the highest market share?
Augmented
P&G has a lot of different product categories in their catalog of products. This reflects P&G’s --------?
Width
BDI and CDI are most helpful with what strategy for extending the product life cycle?
Market Penetration
Which combination of CDI and BDI would be the most likely to result in investment?
High CDI and low BDI
Which type of extension is most likely to be a continuous innovation?
line extension
Building initial awareness is most important in what portion of the product life cycle?
introduction

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