Exam 2 Next Monday– Oct 26, 2009 Chapters 7 through 12 The test is worth 150 points of your grade. 55 multiple choice questions worth 110 points + 8 short.

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Exam 2 Next Monday– Oct 26, 2009 Chapters 7 through 12 The test is worth 150 points of your grade. 55 multiple choice questions worth 110 points + 8 short answer questions worth 40 points. Material from the text, class discussions, and the reading material. 20% definitional; 80% application-oriented: Implications; Take-aways

Components of MC Questions from Exam # 2 Chap Questions (2 short answer qs) Chap 8 – 8 Questions (2 short answer qs) Chap 9 – 8 Questions (2 short answer qs) Chap Questions (1 short answer qs) Chap Questions (1 short answer qs) Chap Questions

Examples of definitional questions Define positioning? What are the segmentation bases? What are the steps in new product development process? What is test marketing?

Definitional question A conjectural statement or a preliminary assumption about a certain problem (or set of circumstances) is known as: –Hypothesis –Research design –Intuition –Observables

Definitional question _____ products are products (for example, burial plots, flu shots, life insurance etc.) that are not known about or not actively searched for by consumers. These products require aggressive personal selling and highly persuasive advertising. –Specialty –Unsought –Convenience –Shopping

Applied question After General Mills evaluated many new cereal ideas and before any prototype was created, the cereal company selected three ideas to present to a group of consumers. The consumer group was asked to evaluate the written descriptions for the three product ideas in terms of their marketability. This stage of new-product development is called: –Concept testing –Business analysis –Test marketing –Simulated test marketing