Question 1

The size of a company will affect how the different stages of their new product development process are conducted.

Accepted Answer

A) True 
 B)False

Question 2

Most companies put new offering ideas through a seven-step process.

Accepted Answer

A) True 
 B)False

Question 3

Customers are particularly important co-creators of offerings when they are consuming products with _____.

Accepted Answer

The answer of Customers are particularly important co-creators of offerings...

Question 4

The feature specifications process begins with a strong understanding of:

Accepted Answer

A)  what risks are involved. 
B)  what opportunity costs are entailed. 
C)  what consumers want and need. 
D)  what the financial feasibility of the product is. 
E)  what the marketing mix should entail at launch. 
A)  what risks are involved. 
B)  what opportunity costs are entailed. 
C)  what consumers want and need. 
D)  what the financial feasibility of the product is. 
E)  what the marketing mix should entail at launch.

Question 5

Idea generation is typically the most expensive step in the process of developing new offerings.

Accepted Answer

A) True 
 B)False

Question 6

Identify and describe the stages in the product life cycle.

Accepted Answer

1)Introduction-The first phase of the li

Question 7

A rolling launch might make sense if the company's service technicians need training.

Accepted Answer

A) True 
 B)False

Question 8

Companies introducing products and services abroad typically must have the financial resources to make a long-term commitment.

Accepted Answer

A) True 
 B)False

Question 9

A price skimming strategy often attracts consumers who are _____.

Accepted Answer

A)  price sensitive 
B)  laggards 
C)  the early majority 
D)  early adopters 
E)  the late majority 
A)  price sensitive 
B)  laggards 
C)  the early majority 
D)  early adopters 
E)  the late majority

Question 10

An organization utilizing a penetration pricing strategy is hoping to sell a(n)_____ volume in order to generate _____ revenues.

Accepted Answer

The answer of An organization utilizing a penetration pricing strategy...

Question 11

When introducing products to international markets,firms can either _____ or _____,the former being to keep the products the same and the later being to change the product to meet the needs of the local culture.

Accepted Answer

The answer of When introducing products to international markets,firms can...

Question 12

Firms that manufacture cereals and snacks typically utilize mass marketing efforts.

Accepted Answer

A) True 
 B)False

Question 13

The product life cycle is the exclusive tool used by marketers to help them manage the stages of a product's acceptance and success in the marketplace.

Accepted Answer

A) True 
 B)False

Question 14

A company may induct a(n)_____ to ensure that the launch of a new product reaches buyers,gets positive feedback,and generates sales of the product or service.

Accepted Answer

A)  rolling launch 
B)  market test 
C)  beta test 
D)  marketing communication plan 
E)  sales promotion 
A)  rolling launch 
B)  market test 
C)  beta test 
D)  marketing communication plan 
E)  sales promotion

Question 15

Explain what is entailed when effectively managing a new product.

Accepted Answer

A company will be faced with many decisi

Question 16

Which of the following are often involved in an organization's objectives during the introductory stage?

Accepted Answer

A)  Building on past experience with the product. 
B)  Deciding whether the product should be modified. 
C)  Developing repositioning strategies. 
D)  Evaluating the competitor's products. 
E)  Educating potential customers about its value and benefits. 
A)  Building on past experience with the product. 
B)  Deciding whether the product should be modified. 
C)  Developing repositioning strategies. 
D)  Evaluating the competitor's products. 
E)  Educating potential customers about its value and benefits.

Question 17

A(n)_____ is a new idea or offering that occurs when a company comes out with another model based on the platform and brand as one of its other products.

Accepted Answer

The answer of A(n)_____ is a new idea or offering...

Question 18

For more technical or expensive products such as computers or plasma televisions,many firms utilize _____.

Accepted Answer

A)  sampling 
B)  personal selling 
C)  professional selling 
D)  transit signs 
E)  coupons 
A)  sampling 
B)  personal selling 
C)  professional selling 
D)  transit signs 
E)  coupons

Question 19

Quality function deployment is a process utilized in which step of the product development process?

Accepted Answer

A)  launch 
B)  feature specification 
C)  development 
D)  evaluation 
E)  testing 
A)  launch 
B)  feature specification 
C)  development 
D)  evaluation 
E)  testing

Question 20

A focus group consists of _____ people in which they focus on a particular topic.

Accepted Answer

The answer of A focus group consists of _____ people...

The size of a company will affect how the different stages of their new product development process are conducted.

Most companies put new offering ideas through a seven-step process.

Customers are particularly important co-creators of offerings when they are consuming products with _____.

The feature specifications process begins with a strong understanding of:

Idea generation is typically the most expensive step in the process of developing new offerings.

Identify and describe the stages in the product life cycle.

A rolling launch might make sense if the company's service technicians need training.

Companies introducing products and services abroad typically must have the financial resources to make a long-term commitment.

A price skimming strategy often attracts consumers who are _____.

An organization utilizing a penetration pricing strategy is hoping to sell a(n)_ volume in order to generate _ revenues.

When introducing products to international markets,firms can either _ or _,the former being to keep the products the same and the later being to change the product to meet the needs of the local culture.

Firms that manufacture cereals and snacks typically utilize mass marketing efforts.

The product life cycle is the exclusive tool used by marketers to help them manage the stages of a product's acceptance and success in the marketplace.

A company may induct a(n)_____ to ensure that the launch of a new product reaches buyers,gets positive feedback,and generates sales of the product or service.

Explain what is entailed when effectively managing a new product.

Which of the following are often involved in an organization's objectives during the introductory stage?

A(n)_____ is a new idea or offering that occurs when a company comes out with another model based on the platform and brand as one of its other products.

For more technical or expensive products such as computers or plasma televisions,many firms utilize _____.

Quality function deployment is a process utilized in which step of the product development process?

A focus group consists of _____ people in which they focus on a particular topic.

What Is Marketing?

Strategic Planning

Consumer Behavior: How People Make Buying Decisions

Business Buying Behavior

Market Segmenting, Targeting, and Positioning

Creating Offerings

Using Marketing Channels to Create Value for Customers

Using Supply Chains to Create Value for Customers

Gathering and Using Information: Marketing Research and Market Intelligence

Integrated Marketing Communications and the Changing Media Landscape

Public Relations, Social Media, and Sponsorships

Professional Selling

Customer Satisfaction, Loyalty, and Empowerment

Price,the Only Revenue Generator

The Marketing Plan

Filters

Exam 7: Developing and Managing Offerings

The size of a company will affect how the different stages of their new product development process are conducted.

Most companies put new offering ideas through a seven-step process.

Customers are particularly important co-creators of offerings when they are consuming products with _____.

The feature specifications process begins with a strong understanding of:

Idea generation is typically the most expensive step in the process of developing new offerings.

Identify and describe the stages in the product life cycle.

A rolling launch might make sense if the company's service technicians need training.

Companies introducing products and services abroad typically must have the financial resources to make a long-term commitment.

A price skimming strategy often attracts consumers who are _____.

An organization utilizing a penetration pricing strategy is hoping to sell a(n)_____ volume in order to generate _____ revenues.

When introducing products to international markets,firms can either _____ or _____,the former being to keep the products the same and the later being to change the product to meet the needs of the local culture.

Firms that manufacture cereals and snacks typically utilize mass marketing efforts.

The product life cycle is the exclusive tool used by marketers to help them manage the stages of a product's acceptance and success in the marketplace.

A company may induct a(n)_____ to ensure that the launch of a new product reaches buyers,gets positive feedback,and generates sales of the product or service.

Explain what is entailed when effectively managing a new product.

Which of the following are often involved in an organization's objectives during the introductory stage?

A(n)_____ is a new idea or offering that occurs when a company comes out with another model based on the platform and brand as one of its other products.

For more technical or expensive products such as computers or plasma televisions,many firms utilize _____.

Quality function deployment is a process utilized in which step of the product development process?

A focus group consists of _____ people in which they focus on a particular topic.

What Is Marketing?

Strategic Planning

Consumer Behavior: How People Make Buying Decisions

Business Buying Behavior

Market Segmenting, Targeting, and Positioning

Creating Offerings

Using Marketing Channels to Create Value for Customers

Using Supply Chains to Create Value for Customers

Gathering and Using Information: Marketing Research and Market Intelligence

Integrated Marketing Communications and the Changing Media Landscape

Public Relations, Social Media, and Sponsorships

Professional Selling

Customer Satisfaction, Loyalty, and Empowerment

Price,the Only Revenue Generator

The Marketing Plan

Filters

An organization utilizing a penetration pricing strategy is hoping to sell a(n)_ volume in order to generate _ revenues.

When introducing products to international markets,firms can either _ or _,the former being to keep the products the same and the later being to change the product to meet the needs of the local culture.