Question 1

Business products are also referred to as

Accepted Answer

A)  commodities. 
B)  industrial products. 
C)  wares. 
D)  resale products. 
E)  merchandise. 
A)  commodities. 
B)  industrial products. 
C)  wares. 
D)  resale products. 
E)  merchandise.

Question 2

A group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range is referred to as a

Accepted Answer

A)  product class. 
B)  product mix. 
C)  product category. 
D)  marketing category. 
E)  product line. 
A)  product class. 
B)  product mix. 
C)  product category. 
D)  marketing category. 
E)  product line.

Question 3

New-product strategy development is

Accepted Answer

A)  the stage of the new-product development process where specific product features and benefits are selected prior creating a new-product prototype. 
B)  a formalized protocol for new-product development determined by the director of marketing. 
C)  the stage of the new-product development process that defines the role for a new product in terms of the firm's overall objectives. 
D)  the process of presenting cross-functional teams with a written new-product concept statement and asking them to respond to it in writing. 
E)  the stage of the new-product development process that turns the idea on paper into a prototype, which results in a demonstrable, producible product corresponding to its protocol. 
A)  the stage of the new-product development process where specific product features and benefits are selected prior creating a new-product prototype. 
B)  a formalized protocol for new-product development determined by the director of marketing. 
C)  the stage of the new-product development process that defines the role for a new product in terms of the firm's overall objectives. 
D)  the process of presenting cross-functional teams with a written new-product concept statement and asking them to respond to it in writing. 
E)  the stage of the new-product development process that turns the idea on paper into a prototype, which results in a demonstrable, producible product corresponding to its protocol.

Question 4

With respect to price and availability, which of the following consumer product types would usually be very expensive and available in just a few locations?

Accepted Answer

A)  convenience product 
B)  shopping product 
C)  discretionary product 
D)  specialty product 
E)  unsought product 
A)  convenience product 
B)  shopping product 
C)  discretionary product 
D)  specialty product 
E)  unsought product

Question 5

During which stage of the new product development process does GoPro analyze a new product's potential lifecycle, including time to break even and time for potential responses by competitors?

Accepted Answer

A)  business analysis 
B)  new-product strategy development 
C)  screening and evaluation 
D)  commercialization 
E)  idea generation 
A)  business analysis 
B)  new-product strategy development 
C)  screening and evaluation 
D)  commercialization 
E)  idea generation

Question 6

Which of the following is a key dimension of service quality?

Accepted Answer

A)  reliability 
B)  intelligence 
C)  honesty 
D)  rational 
E)  extroversion 
A)  reliability 
B)  intelligence 
C)  honesty 
D)  rational 
E)  extroversion

Question 7

GoPro did an environmental scan that uncovered a social trend toward sharing experiences during which stage of the new product development process?

Accepted Answer

A)  business analysis 
B)  new-product strategy development 
C)  screening and evaluation 
D)  commercialization 
E)  idea generation 
A)  business analysis 
B)  new-product strategy development 
C)  screening and evaluation 
D)  commercialization 
E)  idea generation

Question 8

Business products are

Accepted Answer

A)  products organizations buy that assist in providing other products for resale. 
B)  supplies necessary for the day-to-day operations of a business. 
C)  ancillary services necessary for the operation of a business. 
D)  products that are sold exclusively to for-profit businesses. 
E)  products purchased by the ultimate consumer. 
A)  products organizations buy that assist in providing other products for resale. 
B)  supplies necessary for the day-to-day operations of a business. 
C)  ancillary services necessary for the operation of a business. 
D)  products that are sold exclusively to for-profit businesses. 
E)  products purchased by the ultimate consumer.

Question 9

Heavy-duty Rayovac flashlights are sold to consumers throughout the United States. However, Philips manufactures the bulbs used in Rayovac flashlights. The quantity of bulbs Philips makes is related to how many flashlights Rayovac sells. This is an example of

Accepted Answer

A)  a tying arrangement. 
B)  reciprocity. 
C)  strategic alliance demand. 
D)  relationship marketing. 
E)  derived demand. 
A)  a tying arrangement. 
B)  reciprocity. 
C)  strategic alliance demand. 
D)  relationship marketing. 
E)  derived demand.

Question 10

A ________ is an item consumed in one or a few uses.

Accepted Answer

A)  durable good 
B)  convenience good 
C)  specialty good 
D)  shopping good 
E)  nondurable good 
A)  durable good 
B)  convenience good 
C)  specialty good 
D)  shopping good 
E)  nondurable good

Question 11

In retail stores, idle production capacity can be reduced by

Accepted Answer

A)  using a straight salary compensation plan. 
B)  hiring additional full-time personnel. 
C)  allowing personnel to work overtime. 
D)  minimizing employee absenteeism. 
E)  reducing worker hours. 
A)  using a straight salary compensation plan. 
B)  hiring additional full-time personnel. 
C)  allowing personnel to work overtime. 
D)  minimizing employee absenteeism. 
E)  reducing worker hours.

Question 12

The new Samsung Family Hub Refrigerator has a 21.5-inch touchscreen, ingredient-tracking fridge-cams, and an assortment of fridge apps. This is an example of which type of innovation?

Accepted Answer

A)  inventive innovation 
B)  continuous innovation 
C)  discontinuous innovation 
D)  dynamically continuous innovation 
E)  continuous invention 
A)  inventive innovation 
B)  continuous innovation 
C)  discontinuous innovation 
D)  dynamically continuous innovation 
E)  continuous invention

Question 13

The brochure for Spa Sydell has photographs of people enjoying the various spa amenities. By seeing the pictures of available treatments at the spa, a customer has a better idea of what she is buying. Spa Sydell uses a brochure to help customers deal with the ________ that is associated with using the service.

Accepted Answer

A)  incongruity 
B)  inconsistency 
C)  inventory costs 
D)  inseparability 
E)  intangibility 
A)  incongruity 
B)  inconsistency 
C)  inventory costs 
D)  inseparability 
E)  intangibility

Question 14

________ consists of practices and processes that encourage the use of external as well as internal ideas as well as internal and external collaboration when conceiving, producing, and marketing new products and services.

Accepted Answer

A)  Innovation partnership 
B)  Open innovation 
C)  Formalized collaboration 
D)  Piggy-back thinking 
E)  Stakeholder cooperation 
A)  Innovation partnership 
B)  Open innovation 
C)  Formalized collaboration 
D)  Piggy-back thinking 
E)  Stakeholder cooperation

Question 15

An important way of defining new products is in terms of their effects on consumption. This approach classifies new products according to

Accepted Answer

A)  the price. 
B)  the extent of media promotion. 
C)  the degree of potential product cannibalization. 
D)  the presence of feature bloat. 
E)  the degree of learning required by the consumer. 
A)  the price. 
B)  the extent of media promotion. 
C)  the degree of potential product cannibalization. 
D)  the presence of feature bloat. 
E)  the degree of learning required by the consumer.

Question 16

The ________ cost of a service is the cost of paying the person used to provide the service along with any needed equipment.

Accepted Answer

A)  intangibility 
B)  inconsistency 
C)  inseparability 
D)  inventory 
E)  independent 
A)  intangibility 
B)  inconsistency 
C)  inseparability 
D)  inventory 
E)  independent

Question 17

The intangibility element of a service refers to the fact that it

Accepted Answer

A)  has value that can only be determined by using subjective criteria. 
B)  can't be held, touched, or seen before the purchase decision. 
C)  requires the ability to provide the service even in times of no demand. 
D)  can maintain or accumulate good will with customers. 
E)  can be objectively evaluated. 
A)  has value that can only be determined by using subjective criteria. 
B)  can't be held, touched, or seen before the purchase decision. 
C)  requires the ability to provide the service even in times of no demand. 
D)  can maintain or accumulate good will with customers. 
E)  can be objectively evaluated.

Question 18

Battery maker Duracell introduced a new product called the Duracell Powermat, which is a wireless charging pad for mobile devices. Because of the perceived fit with its other products, this new one was received well by consumers despite being in a different product category This innovation strategy is known as a

Accepted Answer

A)  brand extension. 
B)  radical invention. 
C)  product line extension. 
D)  disruptive innovation. 
E)  product deletion. 
A)  brand extension. 
B)  radical invention. 
C)  product line extension. 
D)  disruptive innovation. 
E)  product deletion.

Question 19

Define derived demand and provide an example not included in the text.

Accepted Answer

A major characteristic of business produ

Question 20

Customer experience management (CEM) is

Accepted Answer

A)  the integration of the service component of the marketing mix with efforts to influence consumer demand. 
B)  the unique combination of benefits received by targeted buyers that include quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. 
C)  the process of managing the entire customer experience within the company. 
D)  a cluster of benefits that an organization promises customers to satisfy their needs. 
E)  the ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience. 
A)  the integration of the service component of the marketing mix with efforts to influence consumer demand. 
B)  the unique combination of benefits received by targeted buyers that include quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price. 
C)  the process of managing the entire customer experience within the company. 
D)  a cluster of benefits that an organization promises customers to satisfy their needs. 
E)  the ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience.

Business products are also referred to as

A group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range is referred to as a

New-product strategy development is

With respect to price and availability, which of the following consumer product types would usually be very expensive and available in just a few locations?

During which stage of the new product development process does GoPro analyze a new product's potential lifecycle, including time to break even and time for potential responses by competitors?

Which of the following is a key dimension of service quality?

GoPro did an environmental scan that uncovered a social trend toward sharing experiences during which stage of the new product development process?

Business products are

Heavy-duty Rayovac flashlights are sold to consumers throughout the United States. However, Philips manufactures the bulbs used in Rayovac flashlights. The quantity of bulbs Philips makes is related to how many flashlights Rayovac sells. This is an example of

A ________ is an item consumed in one or a few uses.

In retail stores, idle production capacity can be reduced by

The new Samsung Family Hub Refrigerator has a 21.5-inch touchscreen, ingredient-tracking fridge-cams, and an assortment of fridge apps. This is an example of which type of innovation?

________ consists of practices and processes that encourage the use of external as well as internal ideas as well as internal and external collaboration when conceiving, producing, and marketing new products and services.

An important way of defining new products is in terms of their effects on consumption. This approach classifies new products according to

The ________ cost of a service is the cost of paying the person used to provide the service along with any needed equipment.

The intangibility element of a service refers to the fact that it

Define derived demand and provide an example not included in the text.

Customer experience management (CEM) is

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Implementing Interactive and Multichannel Marketing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Filters

Exam 9: Developing New Products and Services

Business products are also referred to as

A group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range is referred to as a

New-product strategy development is

With respect to price and availability, which of the following consumer product types would usually be very expensive and available in just a few locations?

During which stage of the new product development process does GoPro analyze a new product's potential lifecycle, including time to break even and time for potential responses by competitors?

Which of the following is a key dimension of service quality?

GoPro did an environmental scan that uncovered a social trend toward sharing experiences during which stage of the new product development process?

Business products are

Heavy-duty Rayovac flashlights are sold to consumers throughout the United States. However, Philips manufactures the bulbs used in Rayovac flashlights. The quantity of bulbs Philips makes is related to how many flashlights Rayovac sells. This is an example of

A ________ is an item consumed in one or a few uses.

In retail stores, idle production capacity can be reduced by

The new Samsung Family Hub Refrigerator has a 21.5-inch touchscreen, ingredient-tracking fridge-cams, and an assortment of fridge apps. This is an example of which type of innovation?

________ consists of practices and processes that encourage the use of external as well as internal ideas as well as internal and external collaboration when conceiving, producing, and marketing new products and services.

An important way of defining new products is in terms of their effects on consumption. This approach classifies new products according to

The ________ cost of a service is the cost of paying the person used to provide the service along with any needed equipment.

The intangibility element of a service refers to the fact that it

Define derived demand and provide an example not included in the text.

Customer experience management (CEM) is

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment, Ethical Behavior, and Social Responsibility

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, Targeting, and Positioning

Managing Successful Products, Services, and Brands

Pricing Products and Services

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Implementing Interactive and Multichannel Marketing

Integrated Marketing Communications and Direct Marketing

Advertising, Sales Promotion, and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Filters