Question 1

Discuss the advantages of test marketing. Also, state the risks associated with it.

Accepted Answer

Test marketing provides several benefits

Question 2

An American West Airlines flight from Dallas to Houston was fully booked, and the flight tickets were more expensive than that of the nearly empty American West flight from Chicago to Phoenix. This is an example of service pricing.

Accepted Answer

A)  unit-based 
B)  demand-based 
C)  supply-based 
D)  cost-based 
E)  customer-based 
A)  unit-based 
B)  demand-based 
C)  supply-based 
D)  cost-based 
E)  customer-based

Question 3

When Natalie and Chris analyze the results from a recently completed test market to determine if any changes in the marketing mix of the product are needed, they are in the phase of the new-product development process.

Accepted Answer

A)  idea generation 
B)  commercialization 
C)  concept testing 
D)  business analysis 
E)  screening 
A)  idea generation 
B)  commercialization 
C)  concept testing 
D)  business analysis 
E)  screening

Question 4

Lashawna is a concert promoter and has singer Kanye West as one of her clients. She works hard to ensure that most of Kanye's concerts tickets are sold out. She understands the concept of perishability, which implies that:

Accepted Answer

A)  as the concert is not tangible, concert audience will have a difficult time judging its quality in advance. 
B)  the performance of the concert and the attendance of the concert by fans cannot be separated, so tickets must be sold. 
C)  a high level of interaction will exist between the audience and the musicians, which makes the audience's presence necessary. 
D)  if the tickets are not sold out, seats will remain empty, and they can never be sold to anyone again. 
E)  that each concert is different and customers will miss a unique experience if they are not present at the concert. 
A)  as the concert is not tangible, concert audience will have a difficult time judging its quality in advance. 
B)  the performance of the concert and the attendance of the concert by fans cannot be separated, so tickets must be sold. 
C)  a high level of interaction will exist between the audience and the musicians, which makes the audience's presence necessary. 
D)  if the tickets are not sold out, seats will remain empty, and they can never be sold to anyone again. 
E)  that each concert is different and customers will miss a unique experience if they are not present at the concert.

Question 5

All of the following are major steps in developing new products except:

Accepted Answer

A)  test marketing. 
B)  competitor analysis. 
C)  screening. 
D)  commercialization. 
E)  idea generation. 
A)  test marketing. 
B)  competitor analysis. 
C)  screening. 
D)  commercialization. 
E)  idea generation.

Question 6

If the manufacturer of Cool Whip were to introduce a chocolate-flavored whipped cream and still continue to produce its existing flavors of whipped cream, this would be an example of a:

Accepted Answer

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

Question 7

Explain the concept testing phase of the new-product development process, and state its importance.

Accepted Answer

In concept testing, a small sample of po

Question 8

Which of the following best defines product features?

Accepted Answer

A)  The sensory appeal of a product 
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 sensory appeal of a product 
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 9

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

Accepted Answer

A) True 
 B)False

Question 10

TerraCycle is a company that takes waste and "upcycles" it into new products. Currently, TerraCycle markets a bicycle rack made of recycled plastic to schools, parks, and cities. This rack does not scratch or damage the bikes as concrete and steel racks do, 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)  aesthetic modification. 
A)  intended use. 
B)  support services. 
C)  durability. 
D)  product features. 
E)  aesthetic modification.

Question 11

Which of the following is a phase of the new-product development process that involves determining whether a product idea is compatible with company objectives, needs, and resources on a general level?

Accepted Answer

A)  Product development 
B)  Evaluation of competitor's efforts 
C)  Screening 
D)  Idea generation 
E)  Business analysis 
A)  Product development 
B)  Evaluation of competitor's efforts 
C)  Screening 
D)  Idea generation 
E)  Business analysis

Question 12

During the commercialization phase of the new-product development process, a new product is launched in stages, starting in one geographic area and gradually expanding into adjacent areas. This gradual introduction of the product is known as:

Accepted Answer

A)  market development. 
B)  concept testing. 
C)  rollout. 
D)  market extension. 
E)  jamming. 
A)  market development. 
B)  concept testing. 
C)  rollout. 
D)  market extension. 
E)  jamming.

Question 13

Discuss the factors that affect the delivery of services. How can service marketers use these factors to their advantage?

Accepted Answer

Marketing channels for services usually

Question 14

Jason Robinson, a dentist, realizes that his dental practice is not generating enough revenues to cover his expenses. He would like to schedule more appointments, but he finds that almost every time slot is booked by his existing patients. Jason's difficulty in expanding his practice involves the aspect of service called:

Accepted Answer

A)  slotting. 
B)  perishability. 
C)  credence. 
D)  inseparability. 
E)  heterogeneity. 
A)  slotting. 
B)  perishability. 
C)  credence. 
D)  inseparability. 
E)  heterogeneity.

Question 15

The overall characteristics of a product that allow it to perform as expected in satisfying customer needs is called:

Accepted Answer

A)  quality. 
B)  longevity. 
C)  variability. 
D)  functionality. 
E)  design. 
A)  quality. 
B)  longevity. 
C)  variability. 
D)  functionality. 
E)  design.

Question 16

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and:

Accepted Answer

A)  the modification should make the product more consistent with customers' desires. 
B)  competing companies should not be aware of planned product modifications. 
C)  management must avoid functional modifications in the product to evade any risk associated with the safety element of the modified product. 
D)  management must essentially enhance the modified product's quality and lower its price to increase its customer base. 
E)  resources needed for product modification should be limited in order to lower production costs. 
A)  the modification should make the product more consistent with customers' desires. 
B)  competing companies should not be aware of planned product modifications. 
C)  management must avoid functional modifications in the product to evade any risk associated with the safety element of the modified product. 
D)  management must essentially enhance the modified product's quality and lower its price to increase its customer base. 
E)  resources needed for product modification should be limited in order to lower production costs.

Question 17

If Stonefield School Furniture Company provides standard primary school chairs in new colors to match the interiors of schools, this modification is most likely to be viewed as a(n) modification.

Accepted Answer

A)  aesthetic 
B)  functional 
C)  quality 
D)  operational 
E)  feature 
A)  aesthetic 
B)  functional 
C)  quality 
D)  operational 
E)  feature

Question 18

Compared with other phases of the new-product development process, the largest number of new product ideas is rejected during the phase.

Accepted Answer

A)  idea generation 
B)  concept testing 
C)  business analysis 
D)  screening 
E)  test marketing 
A)  idea generation 
B)  concept testing 
C)  business analysis 
D)  screening 
E)  test marketing

Question 19

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)  Brand extension 
B)  Line extension 
C)  Brand stretching 
D)  Product bundling 
E)  Product churning 
A)  Brand extension 
B)  Line extension 
C)  Brand stretching 
D)  Product bundling 
E)  Product churning

Question 20

To manage products effectively, a product manager of an organization must be independent of other departments.

Accepted Answer

A) True 
 B)False

Discuss the advantages of test marketing. Also, state the risks associated with it.

An American West Airlines flight from Dallas to Houston was fully booked, and the flight tickets were more expensive than that of the nearly empty American West flight from Chicago to Phoenix. This is an example of service pricing.

When Natalie and Chris analyze the results from a recently completed test market to determine if any changes in the marketing mix of the product are needed, they are in the phase of the new-product development process.

Lashawna is a concert promoter and has singer Kanye West as one of her clients. She works hard to ensure that most of Kanye's concerts tickets are sold out. She understands the concept of perishability, which implies that:

All of the following are major steps in developing new products except:

If the manufacturer of Cool Whip were to introduce a chocolate-flavored whipped cream and still continue to produce its existing flavors of whipped cream, this would be an example of a:

Explain the concept testing phase of the new-product development process, and state its importance.

Which of the following best defines product features?

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

Which of the following is a phase of the new-product development process that involves determining whether a product idea is compatible with company objectives, needs, and resources on a general level?

During the commercialization phase of the new-product development process, a new product is launched in stages, starting in one geographic area and gradually expanding into adjacent areas. This gradual introduction of the product is known as:

Discuss the factors that affect the delivery of services. How can service marketers use these factors to their advantage?

The overall characteristics of a product that allow it to perform as expected in satisfying customer needs is called:

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and:

If Stonefield School Furniture Company provides standard primary school chairs in new colors to match the interiors of schools, this modification is most likely to be viewed as a(n) modification.

Compared with other phases of the new-product development process, the largest number of new product ideas is rejected during the phase.

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.

To manage products effectively, a product manager of an organization must be independent of other departments.

Customer-Driven Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment, Social Responsibility, and Ethics

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, Branding, and Packaging Concepts

Pricing Concepts and Management

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Filters

Exam 11: Developing and Managing Goods and Services

Discuss the advantages of test marketing. Also, state the risks associated with it.

An American West Airlines flight from Dallas to Houston was fully booked, and the flight tickets were more expensive than that of the nearly empty American West flight from Chicago to Phoenix. This is an example of service pricing.

When Natalie and Chris analyze the results from a recently completed test market to determine if any changes in the marketing mix of the product are needed, they are in the phase of the new-product development process.

Lashawna is a concert promoter and has singer Kanye West as one of her clients. She works hard to ensure that most of Kanye's concerts tickets are sold out. She understands the concept of perishability, which implies that:

All of the following are major steps in developing new products except:

If the manufacturer of Cool Whip were to introduce a chocolate-flavored whipped cream and still continue to produce its existing flavors of whipped cream, this would be an example of a:

Explain the concept testing phase of the new-product development process, and state its importance.

Which of the following best defines product features?

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

Which of the following is a phase of the new-product development process that involves determining whether a product idea is compatible with company objectives, needs, and resources on a general level?

During the commercialization phase of the new-product development process, a new product is launched in stages, starting in one geographic area and gradually expanding into adjacent areas. This gradual introduction of the product is known as:

Discuss the factors that affect the delivery of services. How can service marketers use these factors to their advantage?

The overall characteristics of a product that allow it to perform as expected in satisfying customer needs is called:

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and:

If Stonefield School Furniture Company provides standard primary school chairs in new colors to match the interiors of schools, this modification is most likely to be viewed as a(n) modification.

Compared with other phases of the new-product development process, the largest number of new product ideas is rejected during the phase.

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.

To manage products effectively, a product manager of an organization must be independent of other departments.

Customer-Driven Strategic Marketing

Planning, Implementing, and Evaluating Marketing Strategies

The Marketing Environment, Social Responsibility, and Ethics

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, Branding, and Packaging Concepts

Pricing Concepts and Management

Marketing Channels and Supply-Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Filters