Question 1

In which stage of the new product development process is a preliminary version of the product produced?

Accepted Answer

A) Product test run 
B) Screening 
C) Prototype development 
D) Concept testing 
E) Test marketing 
A) Product test run 
B) Screening 
C) Prototype development 
D) Concept testing 
E) Test marketing

Question 2

Harley-Davidson offers social incentives through the Harley Owners Group (H.O.G. ),the largest motorcycle club in the world.This is an example of

Accepted Answer

A) industrial marketing. 
B) relationship marketing. 
C) consumer marketing. 
D) marketing research. 
E) international marketing. 
A) industrial marketing. 
B) relationship marketing. 
C) consumer marketing. 
D) marketing research. 
E) international marketing.

Question 3

A moderately expensive,infrequently purchased good or service is known as a specialty good.

Accepted Answer

A) True 
 B)False

Question 4

Which phrase best captures the essence of relationship marketing?

Accepted Answer

A) Emphasis on quality 
B) Emphasis on intensive distribution 
C) Emphasis on long-term relationships with customers 
D) Emphasis on exclusive distribution 
E) Emphasis on profitable operations 
A) Emphasis on quality 
B) Emphasis on intensive distribution 
C) Emphasis on long-term relationships with customers 
D) Emphasis on exclusive distribution 
E) Emphasis on profitable operations

Question 5

Assuming a company has been gathering ideas for new products,what is the next step in the development process?

Accepted Answer

A) Test marketing 
B) Prototype development 
C) Business analysis 
D) Concept testing 
E) Screening 
A) Test marketing 
B) Prototype development 
C) Business analysis 
D) Concept testing 
E) Screening

Question 6

When marketers segment markets based on demographics,they are doing so on the basis of "quantitative" factors like age,education,family size,and income,but not on the basis of "qualitative" factors like nationality,race,and religion.

Accepted Answer

A) True 
 B)False

Question 7

Pencils,brooms,and gloves are examples of ________,while factories,water towers,and airplanes are examples of ________.

Accepted Answer

A) capital items;expense items 
B) supplies;installations 
C) services;capital items 
D) expense items;capital items 
E) capital items;supplies 
A) capital items;expense items 
B) supplies;installations 
C) services;capital items 
D) expense items;capital items 
E) capital items;supplies

Question 8

Land-line phones and DVD players are both in the ________ stage of the product life cycle.

Accepted Answer

A) growth 
B) decline 
C) development 
D) introduction 
E) maturity 
A) growth 
B) decline 
C) development 
D) introduction 
E) maturity

Question 9

Cholesterol levels may be controlled with either a physical-fitness program or a drug regimen.The fitness program and the drugs are examples of

Accepted Answer

A) dissimilar products. 
B) contrary products. 
C) international products. 
D) brand-name competitive products. 
E) substitute products. 
A) dissimilar products. 
B) contrary products. 
C) international products. 
D) brand-name competitive products. 
E) substitute products.

Question 10

How does the product life cycle mesh with the product development process?

Accepted Answer

A) Product commercialization is the start of the introduction stage of the life cycle. 
B) Commercialization indicates that the product has become a "star." 
C) Prototype development is the start of the introduction stage of a life cycle. 
D) Product testing and test marketing take place during the growth stage of the life cycle. 
E) The two do not mesh. 
A) Product commercialization is the start of the introduction stage of the life cycle. 
B) Commercialization indicates that the product has become a "star." 
C) Prototype development is the start of the introduction stage of a life cycle. 
D) Product testing and test marketing take place during the growth stage of the life cycle. 
E) The two do not mesh.

Question 11

The marketing plan identifies the marketing objectives stating what marketing will accomplish in the future.

Accepted Answer

A) True 
 B)False

Question 12

Arun is a conservative computer programmer.He prefers coulors like grey,black,blue,and white.He certainly does not like chasing fashion fads or wearing flashy clothes.This is an example of

Accepted Answer

A) past experience influences. 
B) cultural influences. 
C) social influences. 
D) personal influences. 
E) psychological influences. 
A) past experience influences. 
B) cultural influences. 
C) social influences. 
D) personal influences. 
E) psychological influences.

Question 13

Market segmentation is a strategy for analyzing consumers,not products.

Accepted Answer

A) True 
 B)False

Question 14

Multiple product lines allow a company to grow more rapidly and minimize the consequences of slow sales in any one product line.

Accepted Answer

A) True 
 B)False

Question 15

Stereos,tires,business suits,and furniture are examples of ________ goods.

Accepted Answer

A) convenience 
B) impulse 
C) coincidental 
D) shopping 
E) specialty 
A) convenience 
B) impulse 
C) coincidental 
D) shopping 
E) specialty

Question 16

Target markets are first defined by customers,then by product.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is an organizational market consisting of such non-governmental buyers of goods and services as hospitals,religious organizations,museums,and charitable organizations?

Accepted Answer

A) Charity market 
B) Institutional market 
C) Industrial market 
D) Corporate market 
E) Nonprofit market 
A) Charity market 
B) Institutional market 
C) Industrial market 
D) Corporate market 
E) Nonprofit market

Question 18

Dinasonic manufactures and markets consumer kitchen products.The company is preparing to introduce its products to international markets.The company's director of marketing wants the company to adapt its marketing approach to the various markets in different countries that the company is looking to enter.He needs to defend the proposal for his recommended marketing strategy to the rest of the executive team. The director of marketing argues that Dinasonic should use an adaptation strategy for its marketing because its products will need to be adapted to different markets.Which of the following,if true,would strengthen this position?

Accepted Answer

A) Dinasonic's products have consistently had the most competitive prices in the Canadian market. 
B) For the kinds of products that Dinasonic makes,preferences for their use vary between different cultures. 
C) Dinasonic will not face much competition in the countries in which it plans to sell its products. 
D) Dinasonic will have a limited advertising budget for its international marketing efforts. 
E) Dinasonic has consistently gained in market share in Canada over the last several years. 
A) Dinasonic's products have consistently had the most competitive prices in the Canadian market. 
B) For the kinds of products that Dinasonic makes,preferences for their use vary between different cultures. 
C) Dinasonic will not face much competition in the countries in which it plans to sell its products. 
D) Dinasonic will have a limited advertising budget for its international marketing efforts. 
E) Dinasonic has consistently gained in market share in Canada over the last several years.

Question 19

Which of the following is correct with regard to price?

Accepted Answer

A) It refers only to the actual amount of money that consumers pay for a product. 
B) It is generally the second-most important element in the marketing mix. 
C) In some cases,high prices will actually attract customers by implying that the product is unusually good. 
D) It is more important for industrial goods than it is for consumer goods. 
E) All of these 
A) It refers only to the actual amount of money that consumers pay for a product. 
B) It is generally the second-most important element in the marketing mix. 
C) In some cases,high prices will actually attract customers by implying that the product is unusually good. 
D) It is more important for industrial goods than it is for consumer goods. 
E) All of these

Question 20

What is the fundamental goal of product differentiation?

Accepted Answer

A) To increase profit margins 
B) To set the company's products apart from competitive products in the market 
C) To maximize market share 
D) To more effectively market to industrial consumers 
E) To more effectively market to certain demographic segments of the market 
A) To increase profit margins 
B) To set the company's products apart from competitive products in the market 
C) To maximize market share 
D) To more effectively market to industrial consumers 
E) To more effectively market to certain demographic segments of the market

In which stage of the new product development process is a preliminary version of the product produced?

Harley-Davidson offers social incentives through the Harley Owners Group (H.O.G. ),the largest motorcycle club in the world.This is an example of

A moderately expensive,infrequently purchased good or service is known as a specialty good.

Which phrase best captures the essence of relationship marketing?

Assuming a company has been gathering ideas for new products,what is the next step in the development process?

When marketers segment markets based on demographics,they are doing so on the basis of "quantitative" factors like age,education,family size,and income,but not on the basis of "qualitative" factors like nationality,race,and religion.

Pencils,brooms,and gloves are examples of ,while factories,water towers,and airplanes are examples of .

Land-line phones and DVD players are both in the ________ stage of the product life cycle.

Cholesterol levels may be controlled with either a physical-fitness program or a drug regimen.The fitness program and the drugs are examples of

How does the product life cycle mesh with the product development process?

The marketing plan identifies the marketing objectives stating what marketing will accomplish in the future.

Arun is a conservative computer programmer.He prefers coulors like grey,black,blue,and white.He certainly does not like chasing fashion fads or wearing flashy clothes.This is an example of

Market segmentation is a strategy for analyzing consumers,not products.

Multiple product lines allow a company to grow more rapidly and minimize the consequences of slow sales in any one product line.

Stereos,tires,business suits,and furniture are examples of ________ goods.

Target markets are first defined by customers,then by product.

Which of the following is an organizational market consisting of such non-governmental buyers of goods and services as hospitals,religious organizations,museums,and charitable organizations?

Which of the following is correct with regard to price?

What is the fundamental goal of product differentiation?

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters

Exam 12: Understanding Marketing Principles and Developing Products

In which stage of the new product development process is a preliminary version of the product produced?

Harley-Davidson offers social incentives through the Harley Owners Group (H.O.G. ),the largest motorcycle club in the world.This is an example of

A moderately expensive,infrequently purchased good or service is known as a specialty good.

Which phrase best captures the essence of relationship marketing?

Assuming a company has been gathering ideas for new products,what is the next step in the development process?

When marketers segment markets based on demographics,they are doing so on the basis of "quantitative" factors like age,education,family size,and income,but not on the basis of "qualitative" factors like nationality,race,and religion.

Pencils,brooms,and gloves are examples of ________,while factories,water towers,and airplanes are examples of ________.

Land-line phones and DVD players are both in the ________ stage of the product life cycle.

Cholesterol levels may be controlled with either a physical-fitness program or a drug regimen.The fitness program and the drugs are examples of

How does the product life cycle mesh with the product development process?

The marketing plan identifies the marketing objectives stating what marketing will accomplish in the future.

Arun is a conservative computer programmer.He prefers coulors like grey,black,blue,and white.He certainly does not like chasing fashion fads or wearing flashy clothes.This is an example of

Market segmentation is a strategy for analyzing consumers,not products.

Multiple product lines allow a company to grow more rapidly and minimize the consequences of slow sales in any one product line.

Stereos,tires,business suits,and furniture are examples of ________ goods.

Target markets are first defined by customers,then by product.

Which of the following is an organizational market consisting of such non-governmental buyers of goods and services as hospitals,religious organizations,museums,and charitable organizations?

Which of the following is correct with regard to price?

What is the fundamental goal of product differentiation?

Understanding the Canadian Business System

The Environment of Business

Conducting Business Ethically and Responsibly

Entrepreneurship,small Business,and New Venture Creation

The Global Context of Business

Managing the Business Enterprise

Organizing the Business Enterprise

Managing Human Resources and Labour Relations

Motivating,satisfying,and Leading Employees

Operations Management,productivity,and Quality

Understanding Accounting

Pricing,promoting,and Distributing Products

Money and Banking

Financial Decisions and Risk Management

Filters

Pencils,brooms,and gloves are examples of ,while factories,water towers,and airplanes are examples of .