Question

Snap, the makers of the social media app Snapchat, have recently announced plans to launch an online gaming service. This is very different from their current offerings but is expected to appeal to the same core customer base of younger Americans. How would this initiative be categorized in a Diversification Analysis?
(A)Filling line extension
(B)Market penetration
(C)Market development
(D)Diversification
(E)Product development
Fill in missing words
According to the Diffusion of Innovation model, the most likely customers for brand-new products or categories are known as (BLANK)The final customers to adopt a product near the end of its life cycle are known as (BLANK)

Which of the following combinations would most likely allow for a significant, long-term first mover advantage?
(A)Slow product adoption and slow technological evolution
(B)Fast product adoption and fast technological evolution
(C)Fast product adoption and slow technological evolution
(D)Slow product adoption and fast technological evolution
In the BCG Matrix, Cash Cows differ from Stars in that they...
(A)have less market share
(B)are in smaller categories
(C)are more profitable
(D)have greater market share
(E)are in lower-growth categories

Snap, the makers of the social media app Snapchat, have recently announced plans to launch an online gaming service. This is very different from their current offerings but is expected to appeal to the same core customer base of younger Americans. How would this initiative be categorized in a Diversification Analysis?
(A)Filling line extension
(B)Market penetration
(C)Market development
(D)Diversification
(E)Product development

Compared to the product mix of the Virgin Group, the product mix of Uber is...
(A)A cash cow
(B)Larger
(C)Higher-end
(D)Wider
(E)More consistent
Compared to good-dominant products, service-dominant products?
(A)are more variable in their quality
(B)are more easily separated from their providers
(C)are more expensive
(D)are more physically tangible
(E)are less perishable

In a SWOT analysis, Apple's reputation for emphasizing security and customer privacy would be a/an (Blank) The social trend toward greater interest in privacy among consumers would be a/an (Blank) for Apple.
Question 3-Which of the following is NOT one of the general types of consumer products?
(A)Convenience products
(B)No answer text provided.
(C)No answer text provided.
(D)Specialty products
(E)Unsought products
(F)Luxury products
(G)Shopping products

Which of the following is considered part of both the augmented product and the actual product?
(A)Packaging
(B)After-sale service
(C)Product delivery
(D)Payment plans
(E)Product insurance

The launch of Amazon's Echo Dot device was a downward stretching extension of the company's Echo product line, the main hardware for accessing Alexa. Which of the following is NOT a likely benefit of such an extension?
(A)Increasing profit margins compared to other Echo products
(B)Reaching a larger base of customers with the cheaper option
(C)Creating an on-ramp for customers who may later buy a premium Echo product
(D)Plugging a hole to reduce the risk of competitor entry

Answer 1

1) E) Product Development.

Product Development is when there is a creation of a product which can add much benefit to the consumers. That means when an entirely different products are made from that of the existing products then it is called product development. Such as the makers of Snapchat, which is a social media app is planning to launch online gaming app which is totally different from the previous app. This is called product development.

2) According to the Diffusion of Innovation model, the most likely customers for brand-new products or categories are known as Innovators.

These type of people explore new ideas and opinions to make brand new products for the customers. There are many blogs which are specialist to engage the customers.

The final customers to adopt a product near the end of its life cycle are known as Laggards.

This type of people prefers traditional type of communication and buys when there is no other alternatives present. They generally buys the products which are near the end of it's life cycle, forcefully. They will only show up when there is something written regarding the products.

Hope this helps:)