The most commonly used new product forecasting technique

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Reference no: EM13862110

1The most commonly used new product forecasting technique is:

A. customer/market research.

B. trend-line analysis.

C. moving averages.

D. exponential smoothing.

E. jury of executive opinion.

2All of the following statements are true EXCEPT:

A. It is generally easier to gain customer acceptance by producing/introducing variants of significantly higher quality.

B. Consumers often appreciate limited product variants.

C. Operational issues influence the decision to add a variant.

D. JIT manufacturing often passes costs on to suppliers.

E. Many distribution channels like to be able to get multiple items from the same supplier.

3The value customers have assigned to a brand is indicated in the market by:

A. its ability to command a higher price.

B. higher margins.

C. strong, positive word-of-mouth.

D. high repeat purchase rates.

E. all of the above
4Product managers seek to maximize the size of which of the following consumer segments?

A. aware

B. advocates

C. attracted

D. active

E. accepting

The objective of increasing profitability may be accomplished by:

A. reducing costs.

B. improving asset utilization.

C. concentrating on customer retention.

D. improving the sales mix.

E. all of the above

6Segmentation can be useful for:

A. consumer products.

B. industrial products.

C. low-tech products.

D. high-tech products.

E. all of the above

7Which of the following uses of market potential estimates has the GREATEST impact upon market strategy and programs?

A. making entry/exit decisions

B. making resource level decisions

C. setting targets and evaluating results

D. making location/resource allocation decisions

E. input to forecasts

8The product manager must attempt to forecast:

A. sales/market share.

B. profits.

C. costs/resources.

D. technological/economic environments.

E. all of the above

9All of the following strategic alternatives are aimed at improving efficiency and short-term profits EXCEPT:

A. improving asset utilization.

B. new product development.

C. increasing outputs.

D. decreasing inputs.

E. reducing costs.

10A competitively sensible marketing strategy:

A. is something a competitor cannot do.

B. is something a competitor will choose not to do.

C. would put competitors at a disadvantage if they do it.

D. would cause us to gain if competitors do it.

E. any of the above

The firm's efforts are ultimately driven by:

A. the company mission/vision.

B. corporate objectives.

C. corporate strategies.

D. product/brand objectives.

E. program objectives.

12The MAJOR problem associated with developing new products is:

A. the shortage of new product ideas.

B. the ability to recognize good ideas.

C. the shortage of capable personnel.

D. the shortage of funding.

E. the lack of interest in the task.

13Consumers are MOST heavily involved in:

A. market testing.

B. sales force composite methods.

C. the jury of expert opinion approach.

D. the Delphi method.

E. all of the above

14For really new products, the MOST critical factors in adoption are:

A. compatibility and social risk.

B. relative advantage and financial risk.

C. observability and complexity.

D. D.trialability and divisibility.

E. communicability and financial risk.

15A successful strategy:

A. enhance coordination.

B. defines how resources will be allocated.

C. leads to a superior market position.

D. all of the above

E. none of the above

16Under a _________________ rule, each attribute importance weight is multiplied by the attribute value and a sum computed for each person and product.

A. lexicographic

B. conjunctive

C. compensatory

D. zero-sum

E. problem solving

17Customer reaction may involve:

A. discrimination.

B. preference.

C. reaction to change.

D. any of the above

E. none of the above

In practice, market segmentation is usually accomplished through the use of:

A. cluster analysis.

B. tabular analysis.

C. regression analysis.

D. all of the above

E. none of the above

19Both potentials and forecasts depend upon:

A. what customers do.

B. what the firm does.

C. what competitors do.

D. what occurs in the general environment.

E. all of the above

20Generally, the MOST important entity in the purchase process is the:

A. initiator.

B. influencer.

C. decider.

D. purchaser.

E. user.

21The _____________________ method allows the product manager to infer the importance of different product attributes from customer rank orderings of alternative product bundles of attributes.

A. perceptual mapping

B. conjoint analysis

C. analytical weight

D. feature mapping

E. attribute mapping

22Most "new" products are:

A. new-to-the world products.

B. radically new products.

C. continuous innovations.

D. discontinuous innovations.

E. technological breakthroughs.

23Existin products may be made "new" through:

A. continuous quality improvement.

B. redesign.

C. updated styling.

D. any of the above

E. none of the above

24 Database marketers typically evaluate and segment customers in their databases according to:

A. recency.

B. frequency.

C. monetary value.

D. all of the above

E. none of the above

25An effective positioning strategy:

A. is meaningful to customers.

B. is feasible given resources and customer perceptions.

C. competitively sensible.

D. assists in meeting product objectives.

E. all of the above

26In order to estimate the saturation level and the time pattern of market development, the firm must compare its offerings against competitive offerings vis-à-vis:

A. relative advantage.

B. compatibility.

C. risk

D. all of the above

E. none of the above

27Historical data is composed of:

A. a base value.

B. trend.

C. cycle(s).

D. randomness.

E. all of the above

28g the decline stage of the PLC:

A. sales are declining.

B. a "shakeout" occurs.

C. older products are being obsoleted.

D. the last firm in the market may be profitable for some time.

E. all of the above

29All of the following strategic alternatives are aimed at improving long-term profits through growing sales or market share EXCEPT:

A. market development.

B. market penetration.

C. price increases.

D. entering new segments.

E. new product development.

30Forecast accuracy is especially important when:

A. the price of the product is high in either absolute or relative terms.

B. product demand is relatively volatile.

C. the cost of an error in forecasting is high.

D. all of the above

E. none of the above

31Generally, _________________ accounts for the bulk of the test marketing budget.

A. distribution

B. production

C. advertising/promotion

D. pricing

E. packaging

32Sales may be increased by:

A. pursuing new segments.

B. developing new products.

C. enlarging existing segments.

D. increasing the purchase rate.

E. all of the above

33The maximum sales reasonably attainable under a given set of conditions with a specified period of time is BEST described by the term:

A. potential.

B. forecast.

C. quota.

D. expectation.

E. regression.

34Which of the following situations present the MOST difficult analytical/decision-making difficulties?

A. really new products

B. existing products in a mature market

C. slightly new products

D. existing products in a dynamic/growing market

E. all are equally difficult

35Brand associations form a(n):

A. brand personality.

B. brand status.

C. prestige brand.

D. stable image.

E. personal image.

36Brand equity may be based on:

A. brand loyalty.

B. brand awareness.

C. perceived quality.

D. brand associations.

E. any, or all, of the above

37For which of the following is the PRIMARY goal of advertising achievement of awareness and trial?

A. existing product, mature market

B. existing product, dynamic growing market

C. slightly new product

D. really new product

E. all of the above

38 The term "customer" includes:

A. current customers.

B. customers of competitors.

C. current noncustomers.

D. intermediate customers.

E. all of the above

39Product modification may be accomplished through:

A. changes in the physical product.

B. changes in the channels of distribution

C. change sin pricing/advertising strategy.

D. change sin service(s).

E. any/all of the above

40Forecasting consumer behavior:

A. requires judgments about what might cause behavior to change.

B. requires judgments about likely changes in causal factors.

C. requires analysis of the impact of likely changes on consumer behavior.

D. all of the above

E. none of the above

Reference no: EM13862110

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