Question 1

What results when companies extend their horizons and identify opportunities outside existing product lines?

Accepted Answer

A)  disconnected product lines 
B)  multiple product lines 
C)  uniform product lines 
D)  universal product lines 
E)  tailored product lines 
A)  disconnected product lines 
B)  multiple product lines 
C)  uniform product lines 
D)  universal product lines 
E)  tailored product lines

Question 2

A chef visits the produce market each morning to select fruits and vegetables for use in her restaurant's soups and salads.Explain whether the chef is buying production items or expense items.

Accepted Answer

The chef is buying production items beca

Question 3

Most ideas for new products eventually reach the market.

Accepted Answer

A) True 
 B)False

Question 4

Speed to market increases the chance that a new product will survive.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following pricing strategies BEST describes price lining?

Accepted Answer

A)  setting an initial low price to establish a new product in the market 
B)  setting an initial high price to cover new product costs and generate a profit 
C)  setting individually negotiated prices for certain categories of products 
D)  setting a limited number of prices for certain categories of products 
E)  setting individually negotiated prices for all categories of products 
A)  setting an initial low price to establish a new product in the market 
B)  setting an initial high price to cover new product costs and generate a profit 
C)  setting individually negotiated prices for certain categories of products 
D)  setting a limited number of prices for certain categories of products 
E)  setting individually negotiated prices for all categories of products

Question 6

Variable costs of a product are those costs that change with the quantity of a product produced and sold.

Accepted Answer

A) True 
 B)False

Question 7

Which of the following costs refers specifically to those that change with the quantity of a product sold or produced?

Accepted Answer

A)  annual costs 
B)  variable costs 
C)  fixed costs 
D)  marginal costs 
E)  market-adjusted costs 
A)  annual costs 
B)  variable costs 
C)  fixed costs 
D)  marginal costs 
E)  market-adjusted costs

Question 8

With the average North American supermarket carrying 45,000 different items,why is it hard for new consumer packaged goods to succeed?

Accepted Answer

In 2011 alone,the consumer packaged good

Question 9

Which of the following activities describes the development stage of commercialization?

Accepted Answer

A)  building a prototype 
B)  testing the product to see if it meets performance requirements 
C)  selling the product on a trial basis in limited areas 
D)  beginning full-scale production and marketing 
E)  testing consumer reaction to the product in limited areas 
A)  building a prototype 
B)  testing the product to see if it meets performance requirements 
C)  selling the product on a trial basis in limited areas 
D)  beginning full-scale production and marketing 
E)  testing consumer reaction to the product in limited areas

Question 10

Noxzema,Prudential,and Minute Maid would be examples of which kind of brand name?

Accepted Answer

A)  licensed 
B)  private 
C)  national 
D)  international 
E)  convenience 
A)  licensed 
B)  private 
C)  national 
D)  international 
E)  convenience

Question 11

Which of the following,if true,would MOST strengthen the senior manager's argument?

Accepted Answer

A)  Research suggests that consumers are looking for more variety in this product category. 
B)  The majority of India's consumer market is located at the bottom of the pyramid. 
C)  Few competitors in the market offer basic cell phones because of increasing customer sophistication. 
D)  The company will face charges of dumping if it sells the phones at a price lower than what it offers in the home country. 
E)  Different companies already cater to the requirements of different market segments in India. 
A)  Research suggests that consumers are looking for more variety in this product category. 
B)  The majority of India's consumer market is located at the bottom of the pyramid. 
C)  Few competitors in the market offer basic cell phones because of increasing customer sophistication. 
D)  The company will face charges of dumping if it sells the phones at a price lower than what it offers in the home country. 
E)  Different companies already cater to the requirements of different market segments in India.

Question 12

How does a product mix differ from a product line?

Accepted Answer

A product mix is the group of products t

Question 13

Which of the following,if true,would weaken the senior manager's argument?

Accepted Answer

A)  Producing a stripped-down model would alter high-end domestic customers' view of the Personal Devices brand. 
B)  A premium auto manufacturer who came out with economy cars suffered in the market. 
C)  India recently blocked low-priced Chinese phones that did not have the International Mobile Equipment Identification number. 
D)  Research suggests that the premium market segment is saturated. 
E)  Even high-end customers typically do not use the advanced functionality in Personal Devices' cell phones. 
A)  Producing a stripped-down model would alter high-end domestic customers' view of the Personal Devices brand. 
B)  A premium auto manufacturer who came out with economy cars suffered in the market. 
C)  India recently blocked low-priced Chinese phones that did not have the International Mobile Equipment Identification number. 
D)  Research suggests that the premium market segment is saturated. 
E)  Even high-end customers typically do not use the advanced functionality in Personal Devices' cell phones.

Question 14

Differentiate between fixed costs and variable costs.

Accepted Answer

Fixed costs remain constant with varying

Question 15

Summarize the steps in the development process for physical goods.

Accepted Answer

The sequential steps are searching for p

Question 16

What is cost-oriented pricing?

Accepted Answer

Cost-oriented pricing considers the firm

Question 17

What steps in the development process should Ginny and RJ complete before they commercialize ComicalYou?

Accepted Answer

A)  business analysis and test marketing 
B)  product ideas and screening 
C)  screening and prototype development 
D)  product ideas and prototype development 
E)  concept testing and prototype development 
A)  business analysis and test marketing 
B)  product ideas and screening 
C)  screening and prototype development 
D)  product ideas and prototype development 
E)  concept testing and prototype development

Question 18

What type of brands are Sears Craftsman tools and Kenmore appliances examples of?

Accepted Answer

A)  national 
B)  licensed 
C)  private 
D)  global 
E)  social 
A)  national 
B)  licensed 
C)  private 
D)  global 
E)  social

Question 19

What will make the product testing and test marketing stage challenging for an online product such as ComicalYou?

Accepted Answer

A)  Putting a software service on a Web site is very expensive. 
B)  Consumers are reluctant to try out new forms of social media. 
C)  Research and development is expensive, and many new products fail. 
D)  If word about the service spreads quickly, it will be difficult to confine the testing to a limited market. 
E)  If users in the test market are dissatisfied, it will be difficult to change the product after it is online. 
A)  Putting a software service on a Web site is very expensive. 
B)  Consumers are reluctant to try out new forms of social media. 
C)  Research and development is expensive, and many new products fail. 
D)  If word about the service spreads quickly, it will be difficult to confine the testing to a limited market. 
E)  If users in the test market are dissatisfied, it will be difficult to change the product after it is online.

Question 20

While watching your favorite sitcom,you see an actor holding a particular brand of beer.This is an example of product placement.

Accepted Answer

A) True 
 B)False

What results when companies extend their horizons and identify opportunities outside existing product lines?

A chef visits the produce market each morning to select fruits and vegetables for use in her restaurant's soups and salads.Explain whether the chef is buying production items or expense items.

Most ideas for new products eventually reach the market.

Speed to market increases the chance that a new product will survive.

Which of the following pricing strategies BEST describes price lining?

Variable costs of a product are those costs that change with the quantity of a product produced and sold.

Which of the following costs refers specifically to those that change with the quantity of a product sold or produced?

With the average North American supermarket carrying 45,000 different items,why is it hard for new consumer packaged goods to succeed?

Which of the following activities describes the development stage of commercialization?

Noxzema,Prudential,and Minute Maid would be examples of which kind of brand name?

Which of the following,if true,would MOST strengthen the senior manager's argument?

How does a product mix differ from a product line?

Which of the following,if true,would weaken the senior manager's argument?

Differentiate between fixed costs and variable costs.

Summarize the steps in the development process for physical goods.

What is cost-oriented pricing?

What steps in the development process should Ginny and RJ complete before they commercialize ComicalYou?

What type of brands are Sears Craftsman tools and Kenmore appliances examples of?

What will make the product testing and test marketing stage challenging for an online product such as ComicalYou?

While watching your favorite sitcom,you see an actor holding a particular brand of beer.This is an example of product placement.

The U.S.Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality for Producing Goods and Services

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters

Exam 12: Developing and Pricing Products

What results when companies extend their horizons and identify opportunities outside existing product lines?

A chef visits the produce market each morning to select fruits and vegetables for use in her restaurant's soups and salads.Explain whether the chef is buying production items or expense items.

Most ideas for new products eventually reach the market.

Speed to market increases the chance that a new product will survive.

Which of the following pricing strategies BEST describes price lining?

Variable costs of a product are those costs that change with the quantity of a product produced and sold.

Which of the following costs refers specifically to those that change with the quantity of a product sold or produced?

With the average North American supermarket carrying 45,000 different items,why is it hard for new consumer packaged goods to succeed?

Which of the following activities describes the development stage of commercialization?

Noxzema,Prudential,and Minute Maid would be examples of which kind of brand name?

Which of the following,if true,would MOST strengthen the senior manager's argument?

How does a product mix differ from a product line?

Which of the following,if true,would weaken the senior manager's argument?

Differentiate between fixed costs and variable costs.

Summarize the steps in the development process for physical goods.

What is cost-oriented pricing?

What steps in the development process should Ginny and RJ complete before they commercialize ComicalYou?

What type of brands are Sears Craftsman tools and Kenmore appliances examples of?

What will make the product testing and test marketing stage challenging for an online product such as ComicalYou?

While watching your favorite sitcom,you see an actor holding a particular brand of beer.This is an example of product placement.

The U.S.Business Environment

Understanding Business Ethics and Social Responsibility

Entrepreneurship, New Ventures, and Business Ownership

Understanding the Global Context of Business

Managing the Business

Organizing the Business

Operations Management and Quality for Producing Goods and Services

Employee Behavior and Motivation

Leadership and Decision Making

Human Resource Management and Labor Relations

Marketing Processes and Consumer Behavior

Distributing and Promoting Products

Information Technology (IT)for Business

The Role of Accountants and Accounting Information

Understanding Money and the Role of Banking

Managing Business Finances

Filters