1) 3M, Hewlett-Packard, Lego, and other companies use the ________ to manage the innovation process.
A. skunk works
B. new product “team”
C. stage-gate system
D. joint- venture system
E. venture team
2) A ________ is a set of procedures and sources managers use to obtain everyday information about developments in the marketing environment.
A. vertical system
B. product management system
C. marketing research system
D. marketing information system
E. marketing intelligence system
3) A(n) ________ is any good, service, or idea that is perceived by someone as new.
A. creative product
D. new idea
4) A company can take several steps to improve the quality of its marketing intelligence. If the company purchases competitive products for study, attends open houses and trade shows, and reads competitors’ published reports and stockholder information, the company is using ________ to improve the quality of its marketing intelligence.
A. customer feedback systems
B. external networks
C. sales force surrogates
E. advisory panels
5) ________ consists of people, equipment, and procedures to gather, sort, analyze, evaluate, and distribute needed, timely, and accurate information to marketing decision makers.
A. A marketing database
B. A marketing intelligence system
C. A marketing information system
D. A marketing research system
E. A promotional campaign
6) Most established companies focus on ________ when it comes to innovation.
A. competitive innovation
B. everyday innovation
C. incremental innovation
D. continuous innovation
E. demand innovation
7) ________ is the difference between the prospective customer’s evaluation of all the benefits and all the costs of an offering and the perceived alternatives.
A. Competitors market share rate
B. Report rating
C. Perceived usefulness
D. Failure avoidance rate
E. Customer perceived value
8) ________ is the result of a concentrated effort by designers, engineers, and purchasing agents to reduce the product’s overall costs.
A. Experience curve
B. Target costing
C. Learning curve
D. Least cost producer
9) In ________ marketing, the seller engages in the mass production, mass distribution, and mass promotion of one product for all buyers.
10) Marketers usually identify niches by ________.
A. producing products that can be used in a variety of ways
B. allowing consumers to gravitate toward product brands
C. dividing a segment into subsegments
D. conducting VALS tests
E. examining the demographics section of The