A business analysis is typically performed after management has developed the product concept and marketing strategy.
Answer: TRUE
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Marketing Management Chapter 15
- Identify the five main characteristics that affect the diffusion of innovations. Describe each and provide an example.
- A customer survey at a mall revealed that Zoe is considered to be an early adopter. What does this mean?
- What is the consumer-adoption process? What are the various steps in the process?
- Compatibility refers to the degree to which the innovation matches the values and experiences of the individuals.
- The step in the consumer-adoption process where a consumer considers whether to try the innovation is interest.
- At the interest stage of the consumer-adoption process, the consumer becomes aware of the innovation but lacks information about it.
- Which of the following terms refers to the degree to which the innovation can be tried on a limited basis?
- The degree to which the beneficial results of an innovation's use are observable or describable to others is called ________.
- Relative advantage of an innovation refers to the degree to which ________.
- ______ is the effect one person has on another's attitude or purchase probability.
- Five characteristics influence the rate of adoption of an innovation. One of these is ________.
- Joseph, a student of Columbia University, finds many of his classmates have purchased an iPad tablet from Apple. The iPad, launched a few months before has been identified as a very useful product and many students in the US have rated it highly. Considering all these, Joseph also decides to purchase an iPad. Which of the following is the adopter group to which Joseph belongs?
- Which of the following characteristics is closely associated with late majority adopter groups?
- Jason is a technology enthusiast who is happy to conduct alpha and beta testing and report on early weaknesses of consumer electronics products. He is most likely to fall in the ________ adopter category.
- Troma Inc. is a famous manufacturer of cookware that follows a traditional distributor-retailer system to distribute its products. The company abstains from the use of automated supply chain management (SCM) systems mainly due to the fear of unknown. However, rapidly escalating operational costs and inefficiencies have made it necessary for the company to implement an SCM system. The company goes for a big-bang installation of SCM system to become more competitive and cost effective. Identify the adopter group to which Troma belongs.
- People who are technology enthusiasts, venturesome, and who enjoy tinkering with new products and mastering their intricacies are called ________.
- Which of the following is the mental step in the consumer-adoption process where the customer starts considering whether to try an innovation?
- Armordo is a famous vacuum cleaner brand in Africa. Clara has heard of Armordo and she knows that the product is a success. She has started considering whether or not to buy the vacuum cleaner. What stage of the consumer-adoption process is Clara in?
- Robert has heard about the latest cell phone from LG Electronics that features Wi-Fi hotspot technology. Wi-Fi hotspot is a technology that allows users to share mobile internet with other Wi-Fi enabled devices. Robert visits the company's Web site to read more about the phone. Robert is in the ________ stage of consumer-adoption process.
- Identify the stage in the consumer adoption process in which the customer is stimulated to seek information about the innovation.
- Adopters of new products move through five stages. These stages begin with ________ and follow with interest, evaluation, trial, and adoption.
- A(n) ________ is any good, service, or idea that is perceived as new, no matter how long its history.
- GameTech International Inc. engages in the design, development, and marketing of interactive electronic bingo systems primarily in the United States. The company has plans to enter developing markets such as Brazil and India. TechToys, GameTech's major competitor has already started operations in India. GameTech decides to delay its entry to India and to closely observe TechToys' operations in India. What is the possible rationale behind this delaying decision?
- Mobile phone company HCF delayed the introduction of a new cell phone model with innovative features so that the launch could coincide with that of its competitor, LCM, which was introducing a phone with similar features. What kind of entry did HCF use? How can this benefit the company?
- What is the significance of performing business analysis?