Exam 15: Product Development and Supply Chain Management

Match the term with its definition. a.Brand b.Brand image c.Brand name d.Brandmark e.Design patent f.Direct channel g.Indirect channel h.Patent i.Service mark j.Trade dress k.Trademark l.Utility patent -A legal trerm indicating that a firm has exclusive rights to use a brand to promote a product

A sustainable competitive advantage is

Josiah has developed an avalanche safety kit that includes a small but powerful locator beacon.When he developed and researched the idea,he found other kits on the market but his business analysis revealed a less expensive way of producing the kits.How should he proceed?

A legal term indicating the exclusive right of a firm to use a brand to identify a product is a

The business analysis stage of new product development is critical since

Ollie has developed a new product for radio that allows the listener to rewind and listen to songs or dialogue that was missed.The listener can then resume play in live mode,similar to a DVR product used on home TVs.Ollie knows his competitive advantage will dwindle over time as new technology emerges.What can he do to secure the future of his product and himself as an innovator?

Physical distribution of products includes only transportation.

Match the term with its definition. a.Brand b.Brand image c.Brand name d.Brandmark e.Design patent f.Direct channel g.Indirect channel h.Patent i.Service mark j.Trade dress k.Trademark l.Utility patent -A brand that cannot be spoken

F.O.B.origin,freight collect,is a delivery term that shifts all responsibility for freight costs to the buyer.

Small businesses should view distribution costs as

A small firm's "special signature" is called a logo.

According to the Food and Drug Administration regulations,food products must have a standard nutrition label listing the amount of calories,fat,salt,and nutrients in the product.

Products must be carefully analyzed in terms of financial considerations in the _____ stage of the product development process.

Match the term with its definition. a.Brand b.Brand image c.Brand name d.Brandmark e.Design patent f.Direct channel g.Indirect channel h.Patent i.Service mark j.Trade dress k.Trademark l.Utility patent -Elements of a firm's distinctive image not protected by a trademark,patent,or copyright

When Gavin sells his product to a ____,the storage function is transferred to the intermediary.

Match the term with its definition. a.Agents/brokers b.Common carriers c.Contract carriers d.Distribution e.Dual distribution f.Merchant middlemen g.Patent h.Physical distribution (logistics) i.Plant patent j.Private carriers k.Supply chain management l.Third-party logistics firm -Transportation intermediaries that contract with individual shippers

Because they have limited resources,small business need not formalize the product development process.

Match the term with its definition. a.Channel of distribution b.Copyright c.Patent d.Product e.Product item f.Product life cycle g.Product line h.Product mix i.Product mix consistency j.Product strategy k.Sustainable competitive advantage l.Warranty -The way the product component of the marketing mix is used to achieve a firm's objectives

Given the complexity of the task,entrepreneurs must use an attorney to conduct a trademark search.

Euginie has written a poem that she plans to print inside the greeting cards she will publish.Her work is automatically protected but Euginie should include on the back of her greeting cards