Question 1

Which of the following is the best definition of product features?

Accepted Answer

A)  The things a product does that provide benefits to the customer 
B)  Mechanical efforts or activities a company provides that add value to a product 
C)  Specific design characteristics that allow a product to perform certain tasks 
D)  How a product is conceived,planned,and produced with the necessary functions 
E)  The physical appearance of a product 
A)  The things a product does that provide benefits to the customer 
B)  Mechanical efforts or activities a company provides that add value to a product 
C)  Specific design characteristics that allow a product to perform certain tasks 
D)  How a product is conceived,planned,and produced with the necessary functions 
E)  The physical appearance of a product

Question 2

A venture team has the authority to execute plans for the development of products.

Accepted Answer

A) True 
 B)False

Question 3

Why are line extensions more common than new products?

Accepted Answer

A)  They are higher risk and more expensive. 
B)  They are guaranteed to succeed in the marketplace. 
C)  They are less expensive and lower-risk. 
D)  They require no market research. 
E)  Modifications to existing products are very easy. 
A)  They are higher risk and more expensive. 
B)  They are guaranteed to succeed in the marketplace. 
C)  They are less expensive and lower-risk. 
D)  They require no market research. 
E)  Modifications to existing products are very easy.

Question 4

A runout policy of product deletion

Accepted Answer

A)  lets the product decline without changing the product strategy. 
B)  is an immediate-drop decision. 
C)  exploits any strengths left in the product. 
D)  raises the price of the product continually to secure as much profit as possible before the product is priced out of the market. 
E)  occurs when production cannot keep pace with demand because of material shortages. 
A)  lets the product decline without changing the product strategy. 
B)  is an immediate-drop decision. 
C)  exploits any strengths left in the product. 
D)  raises the price of the product continually to secure as much profit as possible before the product is priced out of the market. 
E)  occurs when production cannot keep pace with demand because of material shortages.

Question 5

If 7-UP decides Diet 7-Up with Vitamins is not reaching profit expectations and simply allows the product to decline without any change in marketing strategy,it is using a(n)____ deletion strategy.

Accepted Answer

A)  run-out 
B)  immediate drop 
C)  slow-down 
D)  phase-out 
E)  drop-down 
A)  run-out 
B)  immediate drop 
C)  slow-down 
D)  phase-out 
E)  drop-down

Question 6

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 7

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.

Question 8

After a company has created a prototype during the product development stage,its performance,or ____ must be tested.

Accepted Answer

A)  appeal to customers 
B)  dependability 
C)  durability 
D)  functionality 
E)  pricing 
A)  appeal to customers 
B)  dependability 
C)  durability 
D)  functionality 
E)  pricing

Question 9

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

Accepted Answer

A) True 
 B)False

Question 10

____ is the development of a product that is closely related to one or more products in a firm's existing product line but is designed specifically to meet somewhat different customer needs.

Accepted Answer

A)  Quality modification 
B)  Line extension 
C)  Aesthetic modification 
D)  Feature modification 
E)  Product mix modification 
A)  Quality modification 
B)  Line extension 
C)  Aesthetic modification 
D)  Feature modification 
E)  Product mix modification

Question 11

Automobile makers rely heavily on aesthetic modifications.

Accepted Answer

A) True 
 B)False

Question 12

Estimates of sales are an important component of business analysis.

Accepted Answer

A) True 
 B)False

Question 13

A ____ is responsible for a product,product line,or several distinct products in an interrelated group within an organization.

Accepted Answer

A)  product marketer 
B)  brand manager 
C)  market manager 
D)  product manager 
E)  line manager 
A)  product marketer 
B)  brand manager 
C)  market manager 
D)  product manager 
E)  line manager

Question 14

A(n)____ is the development of a product that is closely related to one or more products in the existing product line but is designed specifically to meet somewhat different needs of customers.

Accepted Answer

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

Question 15

The runout approach to product deletion is used for technologically obsolete products.

Accepted Answer

A) True 
 B)False

Question 16

The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales,costs,and profits.

Accepted Answer

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

Question 17

Early in the commercialization phase,marketers must make decisions about

Accepted Answer

A)  warranties,repairs,and replacement parts. 
B)  product features and breakeven points. 
C)  functionality,safety,and convenience. 
D)  the proposed marketing mix variables. 
E)  which ideas to further pursue. 
A)  warranties,repairs,and replacement parts. 
B)  product features and breakeven points. 
C)  functionality,safety,and convenience. 
D)  the proposed marketing mix variables. 
E)  which ideas to further pursue.

Question 18

The sum of all the product's physical characteristics is called product quality.

Accepted Answer

A) True 
 B)False

Question 19

Why and how might an organization delete existing products?

Accepted Answer

The answer of Why and how might an organization delete...

Question 20

Which of the following is the best example of a functional modification?

Accepted Answer

A)  Campbell's puts more of a higher-grade chicken in its classic chicken noodle soup. 
B)  A smoke alarm is modified to be more sensitive to smoke at farther distances. 
C)  Motorola uses a battery that allows its cell phones to charge back up more quickly. 
D)  The manufacturer of the primer and sealer,Kilz,introduces an odorless variety. 
E)  Friskies changes the ingredients in its cat food to a taste that is preferred by most cats. 
A)  Campbell's puts more of a higher-grade chicken in its classic chicken noodle soup. 
B)  A smoke alarm is modified to be more sensitive to smoke at farther distances. 
C)  Motorola uses a battery that allows its cell phones to charge back up more quickly. 
D)  The manufacturer of the primer and sealer,Kilz,introduces an odorless variety. 
E)  Friskies changes the ingredients in its cat food to a taste that is preferred by most cats.

Exam 11: Strategic Product Management

Which of the following is the best definition of product features?

A venture team has the authority to execute plans for the development of products.

Why are line extensions more common than new products?

A runout policy of product deletion

If 7-UP decides Diet 7-Up with Vitamins is not reaching profit expectations and simply allows the product to decline without any change in marketing strategy,it is using a(n)____ deletion strategy.

Quality modifications are changes that relate to a product's

Select the true statement concerning test marketing.

After a company has created a prototype during the product development stage,its performance,or ____ must be tested.

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

____ is the development of a product that is closely related to one or more products in a firm's existing product line but is designed specifically to meet somewhat different customer needs.

Automobile makers rely heavily on aesthetic modifications.

Estimates of sales are an important component of business analysis.

A ____ is responsible for a product,product line,or several distinct products in an interrelated group within an organization.

A(n)____ is the development of a product that is closely related to one or more products in the existing product line but is designed specifically to meet somewhat different needs of customers.

The runout approach to product deletion is used for technologically obsolete products.

The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales,costs,and profits.

Early in the commercialization phase,marketers must make decisions about

The sum of all the product's physical characteristics is called product quality.

Why and how might an organization delete existing products?

Which of the following is the best example of a functional modification?

Strategic Marketing Management

Developing and Implementing Marketing Strategies

The Global Marketing Environment

Information for Marketing Decisions

Selecting Target Markets

Consumer Behavior

Business Buying Behavior

International Marketing

Digital Marketing and Social Media

Product Decisions

Services Marketing

Strategic Management of Branding and Packaging

A Supply Chain Management and Marketing Channels

B Supply Chain Management and Marketing Channels

A Retailing,wholesaling and Direct Marketing

B Retailing,wholesaling and Direct Marketing

Integrated Marketing Communications

Advertising and Publicrelations

Personal Selling and Sales Promotion

Strategic Pricing Management

Pricingdecisions

Global Issues,social Responsibility and Marketing

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