Question 1

Among business products, support products such as tools and office equipment are

Accepted Answer

A)  installations. 
B)  supplies. 
C)  raw materials. 
D)  accessory equipment. 
E)  components. 
A)  installations. 
B)  supplies. 
C)  raw materials. 
D)  accessory equipment. 
E)  components.

Question 2

Which of the following is an IDEO design?

Accepted Answer

A)  Crest Neat Squeeze toothpaste dispenser 
B)  Under Armour SpeedForm Gemini 2 smart shoe 
C)  3M Post-it Notes 
D)  Pampers Swaddlers diapers 
E)  Apple iPod 
A)  Crest Neat Squeeze toothpaste dispenser 
B)  Under Armour SpeedForm Gemini 2 smart shoe 
C)  3M Post-it Notes 
D)  Pampers Swaddlers diapers 
E)  Apple iPod

Question 3

A ________ is defined as an item consumed in one or a few uses.

Accepted Answer

A)  durable good 
B)  convenience good 
C)  specialty good 
D)  shopping good 
E)  nondurable good 
A)  durable good 
B)  convenience good 
C)  specialty good 
D)  shopping good 
E)  nondurable good

Question 4

Which of these is the best example of a nondurable good?

Accepted Answer

A)  vacuum cleaner 
B)  gaming console 
C)  football 
D)  batteries 
E)  bed frame 
A)  vacuum cleaner 
B)  gaming console 
C)  football 
D)  batteries 
E)  bed frame

Question 5

________ is the unique identification number that defines an item for ordering or inventory purposes.

Accepted Answer

A)  A unique stock mark 
B)  A QR code 
C)  A stock keeping unit 
D)  An order quantity code 
E)  A NAICS inventory code 
A)  A unique stock mark 
B)  A QR code 
C)  A stock keeping unit 
D)  An order quantity code 
E)  A NAICS inventory code

Question 6

You decide to buy a new car. You talk to friends about it, research mechanical specifications in Consumer Reports, test-drive different makes and models, and compare prices at several dealerships. Into which classification of consumer products would your new car purchase fall?

Accepted Answer

A)  specialty product 
B)  unsought product 
C)  discretionary product 
D)  shopping product 
E)  convenience product 
A)  specialty product 
B)  unsought product 
C)  discretionary product 
D)  shopping product 
E)  convenience product

Question 7

The Federal Trade Commission (FTC) advises that a product should be labeled as new only

Accepted Answer

A)  for a period of one year after it enters widespread distribution. 
B)  if it is functionally different from a competitor's product. 
C)  until an improved version of the same product is produced. 
D)  for a period of six months after it enters regular distribution. 
E)  for a period of 17 years at which time patent rights are returned to the public domain. 
A)  for a period of one year after it enters widespread distribution. 
B)  if it is functionally different from a competitor's product. 
C)  until an improved version of the same product is produced. 
D)  for a period of six months after it enters regular distribution. 
E)  for a period of 17 years at which time patent rights are returned to the public domain.

Question 8

New-product or service failures may be reduced or avoided if the company developing them has

Accepted Answer

A)  support from marketer-dominated sources of information. 
B)  a clear patent approved by the governments within the countries it wants to market. 
C)  a statement of competitive intent. 
D)  stakeholder approval in the development process. 
E)  a precise protocol. 
A)  support from marketer-dominated sources of information. 
B)  a clear patent approved by the governments within the countries it wants to market. 
C)  a statement of competitive intent. 
D)  stakeholder approval in the development process. 
E)  a precise protocol.

Question 9

Which of the following statements about test marketing is most accurate?

Accepted Answer

A)  Test marketing is less common for consumer packaged goods compared with other types of products. 
B)  Test marketing is a risk-free way to expose potential customers to new products. 
C)  The three main kinds of test markets are standard, controlled, and simulated. 
D)  Simulated test markets are most likely to alert competitors to a firm's plans. 
E)  Standard test markets are the least expensive and fastest type. 
A)  Test marketing is less common for consumer packaged goods compared with other types of products. 
B)  Test marketing is a risk-free way to expose potential customers to new products. 
C)  The three main kinds of test markets are standard, controlled, and simulated. 
D)  Simulated test markets are most likely to alert competitors to a firm's plans. 
E)  Standard test markets are the least expensive and fastest type.

Question 10

Figure 10-2
-According to Figure 10-2 above, column C represents a

Accepted Answer

A)  continuous innovation. 
B)  discontinuous innovation. 
C)  dynamically continuous innovation. 
D)  spontaneous innovation. 
E)  simultaneous innovation. 
A)  continuous innovation. 
B)  discontinuous innovation. 
C)  dynamically continuous innovation. 
D)  spontaneous innovation. 
E)  simultaneous innovation.

Question 11

Products organizations buy that assist in providing other products for resale are

Accepted Answer

A)  reseller goods. 
B)  wholesale goods. 
C)  business products. 
D)  ancillary products. 
E)  retail products. 
A)  reseller goods. 
B)  wholesale goods. 
C)  business products. 
D)  ancillary products. 
E)  retail products.

Question 12

As a marketing term, ________ generally includes not only physical goods, but also services and ideas.

Accepted Answer

A)  marketing 
B)  invention 
C)  merchandise 
D)  product 
E)  concept 
A)  marketing 
B)  invention 
C)  merchandise 
D)  product 
E)  concept

Question 13

There are seven stages of the new-product development process. Stage 5 is the ________ stage.

Accepted Answer

A)  business analysis 
B)  screening and evaluation 
C)  market testing 
D)  commercialization 
E)  development 
A)  business analysis 
B)  screening and evaluation 
C)  market testing 
D)  commercialization 
E)  development

Question 14

During which stage of the new-product development process does GoPro analyze a new product's potential lifecycle, including time to break-even and time for potential responses by competitors?

Accepted Answer

A)  business analysis 
B)  new-product strategy development 
C)  screening and evaluation 
D)  commercialization 
E)  idea generation 
A)  business analysis 
B)  new-product strategy development 
C)  screening and evaluation 
D)  commercialization 
E)  idea generation

Question 15

Characterize the difference between a product line and a product mix. Give an example of each.

Accepted Answer

A product line is a group of products or

Question 16

Which of these is a way that a product line might be defined?

Accepted Answer

A)  Products are made of similar materials. 
B)  Products are sold to the same customer group. 
C)  Products were new at the same time. 
D)  Products are identical except for price. 
E)  Products require high levels of R&D. 
A)  Products are made of similar materials. 
B)  Products are sold to the same customer group. 
C)  Products were new at the same time. 
D)  Products are identical except for price. 
E)  Products require high levels of R&D.

Question 17

Products that usually last over many uses, such as cars and appliances, are referred to as

Accepted Answer

A)  endurable goods. 
B)  nondisposable goods. 
C)  imperishable goods. 
D)  reliable products. 
E)  durable goods. 
A)  endurable goods. 
B)  nondisposable goods. 
C)  imperishable goods. 
D)  reliable products. 
E)  durable goods.

Question 18

Feature bloat is

Accepted Answer

A)  an exaggeration of a product's performance capabilities. 
B)  the overcharging in price for a minor product enhancement. 
C)  the requirement of having consumers learn new behaviors with a continuous innovation. 
D)  an excessive number of product functions that overwhelms consumers with unnecessary complexity. 
E)  the increase in package size when adding more content or making a product larger (the mega phenomenon). 
A)  an exaggeration of a product's performance capabilities. 
B)  the overcharging in price for a minor product enhancement. 
C)  the requirement of having consumers learn new behaviors with a continuous innovation. 
D)  an excessive number of product functions that overwhelms consumers with unnecessary complexity. 
E)  the increase in package size when adding more content or making a product larger (the mega phenomenon).

Question 19

Which type of consumer product is purchased relatively infrequently and the purchase decision takes some time because the consumer compares offerings during the shopping experience?

Accepted Answer

A)  convenience product 
B)  shopping product 
C)  specialty product 
D)  unsought product 
E)  discretionary product 
A)  convenience product 
B)  shopping product 
C)  specialty product 
D)  unsought product 
E)  discretionary product

Question 20

You have received the Vitality Index chart shown above for your business, Parvaderm, and upon analysis you are concerned that

Accepted Answer

A)  poor product quality has begun to affect sales is a negative way. 
B)  new products are not contributing a high enough percentage of overall sales to sustain growth. 
C)  poor execution of the marketing mix has led to low awareness of the brand name. 
D)  it is not a good time to introduce new products because of competitor offerings. 
E)  your company will not be able to sustain its rapid growth unless it spends more promotional dollars on its classic products. 
A)  poor product quality has begun to affect sales is a negative way. 
B)  new products are not contributing a high enough percentage of overall sales to sustain growth. 
C)  poor execution of the marketing mix has led to low awareness of the brand name. 
D)  it is not a good time to introduce new products because of competitor offerings. 
E)  your company will not be able to sustain its rapid growth unless it spends more promotional dollars on its classic products.

Exam 10: Developing New Products and Services

Among business products, support products such as tools and office equipment are

Which of the following is an IDEO design?

A ________ is defined as an item consumed in one or a few uses.

Which of these is the best example of a nondurable good?

________ is the unique identification number that defines an item for ordering or inventory purposes.

You decide to buy a new car. You talk to friends about it, research mechanical specifications in Consumer Reports, test-drive different makes and models, and compare prices at several dealerships. Into which classification of consumer products would your new car purchase fall?

The Federal Trade Commission (FTC) advises that a product should be labeled as new only

New-product or service failures may be reduced or avoided if the company developing them has

Which of the following statements about test marketing is most accurate?

Figure 10-2 -According to Figure 10-2 above, column C represents a

Products organizations buy that assist in providing other products for resale are

As a marketing term, ________ generally includes not only physical goods, but also services and ideas.

There are seven stages of the new-product development process. Stage 5 is the ________ stage.

During which stage of the new-product development process does GoPro analyze a new product's potential lifecycle, including time to break-even and time for potential responses by competitors?

Characterize the difference between a product line and a product mix. Give an example of each.

Which of these is a way that a product line might be defined?

Products that usually last over many uses, such as cars and appliances, are referred to as

Feature bloat is

Which type of consumer product is purchased relatively infrequently and the purchase decision takes some time because the consumer compares offerings during the shopping experience?

You have received the Vitality Index chart shown above for your business, Parvaderm, and upon analysis you are concerned that

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Managing Successful Products, Services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multi-Channel Marketing

Pulling It All Together: the Strategic Marketing Proces

Building an Effective Marketing Plan

Financial Aspects of Marketing

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