Question 1

The business analysis stage of new-product development explores how well the new product fits in with the firm's existing product mix.

Accepted Answer

A) True 
 B)False

Question 2

The members of a venture team come from

Accepted Answer

A) the marketing department. 
B) a consulting firm. 
C) the research and development department. 
D) the production and finance departments. 
E) different functional areas of an organization. 
A) the marketing department. 
B) a consulting firm. 
C) the research and development department. 
D) the production and finance departments. 
E) different functional areas of an organization.

Question 3

Scenario 12.1
Use the following to answer the questions.
Cheetos Fat-free Crunchies is a product developed through advanced technology.Cheetos engineered a technique for making reduced-fat snacks that taste cheesier and stay fresh longer.Cheetos introduced Fat-free Crunchies in limited markets in 2012 and began national distribution in 2013.
About 18 months later,a series of competitors' ads was run to counter claims that Cheetos Crunchies actually contained 1.5 grams of fat,and that they contained preservatives and additives.Research showed that the taste of Cheetos Crunchies was also perceived negatively by some people.To save the product,Cheetos reduced the remaining fat to 0 grams,took out the preservatives,and improved the taste.
-Refer to Scenario 12.1.The new improved Cheetos Fat-Free Crunchies was a(n)____.

Accepted Answer

A) quality modification. 
B) aesthetic modification 
C) functional modification 
D) brand extension 
E) product line extension 
A) quality modification. 
B) aesthetic modification 
C) functional modification 
D) brand extension 
E) product line extension

Question 4

Designing a product that customers perceive as different from competing products is an example of product differentiation.

Accepted Answer

A) True 
 B)False

Question 5

TerraCycle is a company that takes waste and "upcycles" it into new products.Currently,TerraCycle markets a bicycle rack to schools,parks,and cities,that is made of recycled plastic.This rack does not scratch or damage the bikes as concrete and steel racks can,and is eco-friendly since it is made of waste material.Terracycle is differentiating its product based on

Accepted Answer

A) intended use. 
B) support services. 
C) durability. 
D) product features. 
E) product quality. 
A) intended use. 
B) support services. 
C) durability. 
D) product features. 
E) product quality.

Question 6

Top managers at Cincinnati Microwave believe that they have a successful working prototype of their new radar detector and plan to go directly to regional commercialization of the new product.In this instance,they are contemplating skipping the ____ phase of the new-product development process.

Accepted Answer

A) screening 
B) test marketing 
C) product development 
D) business analysis 
E) idea generation 
A) screening 
B) test marketing 
C) product development 
D) business analysis 
E) idea generation

Question 7

Product managers can be responsible for a single product,a product line,or several products.

Accepted Answer

A) True 
 B)False

Question 8

If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products,this would be an example of

Accepted Answer

A) a brand extension. 
B) line extension. 
C) functional modification. 
D) quality modification. 
E) a new-to-the-world product. 
A) a brand extension. 
B) line extension. 
C) functional modification. 
D) quality modification. 
E) a new-to-the-world product.

Question 9

____ and ____ are important characteristics of quality for consumer markets,and ____ and ____ are important characteristics of quality for business markets.

Accepted Answer

A) Reliability/ease of use;technical suitability/ease of repair 
B) Technical suitability/reasonable price;trusted brand name/ease of repair 
C) Durability/technical suitability;company reputation/ease of repair 
D) Ease of maintenance/company reputation;durability/technical suitability 
E) Trusted brand name/ease of repair;reliability/company reputation 
A) Reliability/ease of use;technical suitability/ease of repair 
B) Technical suitability/reasonable price;trusted brand name/ease of repair 
C) Durability/technical suitability;company reputation/ease of repair 
D) Ease of maintenance/company reputation;durability/technical suitability 
E) Trusted brand name/ease of repair;reliability/company reputation

Question 10

The Home Depot differentiates its product offerings from its competition with stores like Sam's,by offering delivery and installation,financing arrangements,and repairs.The Home Depot is differentiating through

Accepted Answer

A) product ancillaries. 
B) company quality. 
C) customer services. 
D) company features. 
E) product features. 
A) product ancillaries. 
B) company quality. 
C) customer services. 
D) company features. 
E) product features.

Question 11

Estimates of sales are an important component of business analysis.

Accepted Answer

A) True 
 B)False

Question 12

Compare and contrast a product manager and a market manager.

Accepted Answer

A product manager and a market manager b

Question 13

Functional modifications usually require that the product be redesigned.

Accepted Answer

A) True 
 B)False

Question 14

There is no best approach to managing products.

Accepted Answer

A) True 
 B)False

Question 15

Quality modifications are changes that relate to a product's

Accepted Answer

A) dependability and durability. 
B) effectiveness and versatility. 
C) price and availability. 
D) reliability and value. 
E) value and durability. 
A) dependability and durability. 
B) effectiveness and versatility. 
C) price and availability. 
D) reliability and value. 
E) value and durability.

Question 16

When Jeep Wrangler produces the new year's model vehicle,they discontinue production of last year's.However,when Apple brings out a new iPhone,they continue to produce the previous version for at least some period of time.Jeep Wrangler's new-product strategy is an example of a(an)_____ while Apple's is an example of a(an)______.

Accepted Answer

A) product modification;quality modification 
B) product modification;line extension 
C) quality modification;product modification 
D) functional modification;product modification 
E) line extension;product modification 
A) product modification;quality modification 
B) product modification;line extension 
C) quality modification;product modification 
D) functional modification;product modification 
E) line extension;product modification

Question 17

Concept testing presents a small sample of potential buyers with a trial version of the new product to determine their initial reactions.

Accepted Answer

A) True 
 B)False

Question 18

The concept of product quality is the same from consumer to consumer and from consumer markets to organizational markets.

Accepted Answer

A) True 
 B)False

Question 19

The majority of new-product projects initiated by major companies reach the commercialization stage.

Accepted Answer

A) True 
 B)False

Question 20

Select the true statement concerning test marketing.

Accepted Answer

A) Test marketing is simply an extension of the screening and developing stages. 
B) Test marketing should be conducted after all the marketing mix variables have been finalized. 
C) Test marketing is a limited introduction of the product in areas chosen to represent the intended market. 
D) If the product is successful in the test market,then it is ensured of success upon total introduction. 
E) Large corporations usually launch test-marketing efforts in one small area at a time. 
A) Test marketing is simply an extension of the screening and developing stages. 
B) Test marketing should be conducted after all the marketing mix variables have been finalized. 
C) Test marketing is a limited introduction of the product in areas chosen to represent the intended market. 
D) If the product is successful in the test market,then it is ensured of success upon total introduction. 
E) Large corporations usually launch test-marketing efforts in one small area at a time.

The business analysis stage of new-product development explores how well the new product fits in with the firm's existing product mix.

The members of a venture team come from

Designing a product that customers perceive as different from competing products is an example of product differentiation.

Top managers at Cincinnati Microwave believe that they have a successful working prototype of their new radar detector and plan to go directly to regional commercialization of the new product.In this instance,they are contemplating skipping the ____ phase of the new-product development process.

Product managers can be responsible for a single product,a product line,or several products.

If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products,this would be an example of

and are important characteristics of quality for consumer markets,and and are important characteristics of quality for business markets.

The Home Depot differentiates its product offerings from its competition with stores like Sam's,by offering delivery and installation,financing arrangements,and repairs.The Home Depot is differentiating through

Estimates of sales are an important component of business analysis.

Compare and contrast a product manager and a market manager.

Functional modifications usually require that the product be redesigned.

There is no best approach to managing products.

Quality modifications are changes that relate to a product's

Concept testing presents a small sample of potential buyers with a trial version of the new product to determine their initial reactions.

The concept of product quality is the same from consumer to consumer and from consumer markets to organizational markets.

The majority of new-product projects initiated by major companies reach the commercialization stage.

Select the true statement concerning test marketing.

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts

Services Marketing

Branding and Packaging

Marketing Channels and Supply-Chain Management

Retailing, direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

Exam 12: Developing and Managing Products

The business analysis stage of new-product development explores how well the new product fits in with the firm's existing product mix.

The members of a venture team come from

Designing a product that customers perceive as different from competing products is an example of product differentiation.

Top managers at Cincinnati Microwave believe that they have a successful working prototype of their new radar detector and plan to go directly to regional commercialization of the new product.In this instance,they are contemplating skipping the ____ phase of the new-product development process.

Product managers can be responsible for a single product,a product line,or several products.

If the manufacturer of Cool Whip were to introduce a chocolate-flavored Cool Whip and still continue to produce all of its other Cool Whip products,this would be an example of

____ and ____ are important characteristics of quality for consumer markets,and ____ and ____ are important characteristics of quality for business markets.

The Home Depot differentiates its product offerings from its competition with stores like Sam's,by offering delivery and installation,financing arrangements,and repairs.The Home Depot is differentiating through

Estimates of sales are an important component of business analysis.

Compare and contrast a product manager and a market manager.

Functional modifications usually require that the product be redesigned.

There is no best approach to managing products.

Quality modifications are changes that relate to a product's

Concept testing presents a small sample of potential buyers with a trial version of the new product to determine their initial reactions.

The concept of product quality is the same from consumer to consumer and from consumer markets to organizational markets.

The majority of new-product projects initiated by major companies reach the commercialization stage.

Select the true statement concerning test marketing.

An Overview of Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Product Concepts

Services Marketing

Branding and Packaging

Marketing Channels and Supply-Chain Management

Retailing, direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

and are important characteristics of quality for consumer markets,and and are important characteristics of quality for business markets.