Question 1

Explain what an unsought product is and give some examples.

Accepted Answer

An unsought product is an item that the

Question 2

Organizations attempt to reduce inconsistency in their services by

Accepted Answer

A)  investing in modern manufacturing equipment. 
B)  reducing incentives available to employees because of poor performance. 
C)  reducing the customer contact points in the service delivery process. 
D)  providing standardization and training. 
E)  exercising better hiring practices. 
A)  investing in modern manufacturing equipment. 
B)  reducing incentives available to employees because of poor performance. 
C)  reducing the customer contact points in the service delivery process. 
D)  providing standardization and training. 
E)  exercising better hiring practices.

Question 3

Equipment-based services do not have the marketing concern of inconsistent quality because ________ have been removed from the delivery of the service.

Accepted Answer

A)  risk and product liability 
B)  people 
C)  learning requirements 
D)  automations 
E)  accessories 
A)  risk and product liability 
B)  people 
C)  learning requirements 
D)  automations 
E)  accessories

Question 4

Open innovation is

Accepted Answer

A)  a clear plan for new product distribution that will ensure access for all potential customers within the first year of release. 
B)  a formal and comprehensive analysis of competitors' products to discover ideas for product improvements. 
C)  an unlimited budget that can be spent for the marketing program for a new product. 
D)  designing a product around specific customers' needs, wants, and preferences. 
E)  the practices and processes that encourage the use of external and internal ideas and collaboration when conceiving, producing, and marketing new products. 
A)  a clear plan for new product distribution that will ensure access for all potential customers within the first year of release. 
B)  a formal and comprehensive analysis of competitors' products to discover ideas for product improvements. 
C)  an unlimited budget that can be spent for the marketing program for a new product. 
D)  designing a product around specific customers' needs, wants, and preferences. 
E)  the practices and processes that encourage the use of external and internal ideas and collaboration when conceiving, producing, and marketing new products.

Question 5

All of the following are sources for new-product ideas except which?

Accepted Answer

A)  competitors 
B)  universities 
C)  regulators 
D)  crowdsourcing 
E)  employees 
A)  competitors 
B)  universities 
C)  regulators 
D)  crowdsourcing 
E)  employees

Question 6

________ includes considering employee interactions with customers to ensure they are consistently delivered and experienced, clearly differentiated from other offerings, and relevant and valuable to the target market.

Accepted Answer

A)  Capacity management 
B)  Customer experience management 
C)  Derived demand 
D)  Internal marketing 
E)  The key service factor 
A)  Capacity management 
B)  Customer experience management 
C)  Derived demand 
D)  Internal marketing 
E)  The key service factor

Question 7

A ________ is the unique identification number that defines an item for ordering or inventory purposes.

Accepted Answer

A)  unique stock mark 
B)  QR code 
C)  stock keeping unit 
D)  order quantity code 
E)  NAICS stock code 
A)  unique stock mark 
B)  QR code 
C)  stock keeping unit 
D)  order quantity code 
E)  NAICS stock code

Question 8

Which of the following best illustrates the concept of derived demand?

Accepted Answer

A)  The number of retail stores in a downtown area decreases even though demand for retail goods increases. 
B)  An increase in the number of new, single-family homes results from a spike in the gross national product. 
C)  A Chinese plastics company increases its output because of its customers' higher toy exports to the United States. 
D)  A heat wave results in an increased demand for air conditioners. 
E)  Honda reduces its car prices, which causes GM to do the same. 
A)  The number of retail stores in a downtown area decreases even though demand for retail goods increases. 
B)  An increase in the number of new, single-family homes results from a spike in the gross national product. 
C)  A Chinese plastics company increases its output because of its customers' higher toy exports to the United States. 
D)  A heat wave results in an increased demand for air conditioners. 
E)  Honda reduces its car prices, which causes GM to do the same.

Question 9

Unsought products are

Accepted Answer

A)  any products associated with impulse buys at the supermarket checkout counter. 
B)  products that were once very popular but that have become obsolete because they are in the decline stage of their product life cycle. 
C)  items within a company's product line that do not perform as well as others in the line. 
D)  products that the consumer does not know about or knows about but does not initially want. 
E)  products that people choose to ignore because they find them offensive from a moral or ethical perspective. 
A)  any products associated with impulse buys at the supermarket checkout counter. 
B)  products that were once very popular but that have become obsolete because they are in the decline stage of their product life cycle. 
C)  items within a company's product line that do not perform as well as others in the line. 
D)  products that the consumer does not know about or knows about but does not initially want. 
E)  products that people choose to ignore because they find them offensive from a moral or ethical perspective.

Question 10

Dragon Naturally Speaking, a speech recognition software program that allows you to use your voice instead of a keyboard to input text into a word processing program, is an example of

Accepted Answer

A)  a continuous innovation. 
B)  a discontinuous innovation. 
C)  a dynamically continuous innovation. 
D)  a disruptive improvement. 
E)  an evolutionary innovation. 
A)  a continuous innovation. 
B)  a discontinuous innovation. 
C)  a dynamically continuous innovation. 
D)  a disruptive improvement. 
E)  an evolutionary innovation.

Question 11

If an organization's 2018 sales for the entire United States were $50 million and its 2017 U.S. sales were $30 million, what is the annual percentage sales change?

Accepted Answer

A)  40 
B)  67 
C)  100 
D)  125 
E)  133 
A)  40 
B)  67 
C)  100 
D)  125 
E)  133

Question 12

Intangible items such as music festivals, legal advice, or public transportation that an organization provides to consumers are referred to as

Accepted Answer

A)  production goods. 
B)  support products. 
C)  services. 
D)  goods. 
E)  benefits. 
A)  production goods. 
B)  support products. 
C)  services. 
D)  goods. 
E)  benefits.

Question 13

During the first stage of the new-product development process, two important activities take place. They are

Accepted Answer

A)  a SWOT analysis and environmental scanning. 
B)  open innovation and business analysis. 
C)  concept testing and product forecasting. 
D)  R&D and operations setup. 
E)  environmental scanning and open innovation. 
A)  a SWOT analysis and environmental scanning. 
B)  open innovation and business analysis. 
C)  concept testing and product forecasting. 
D)  R&D and operations setup. 
E)  environmental scanning and open innovation.

Question 14

Marketing Dashboard Map
-There are seven stages of the new-product development process. The last stage is

Accepted Answer

A)  business analysis. 
B)  screening and evaluation. 
C)  market testing. 
D)  commercialization. 
E)  development. 
A)  business analysis. 
B)  screening and evaluation. 
C)  market testing. 
D)  commercialization. 
E)  development.

Question 15

Services are

Accepted Answer

A)  philanthropic activities performed without expectations of monetary remuneration. 
B)  the activities provided to complement a tangible good, such as technical support for a computer. 
C)  the intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. 
D)  any activity required for the production of a good that cannot be completed "in-house" and must be outsourced to another firm. 
E)  the human (nonmechanical) component that is part of the manufacturing process. 
A)  philanthropic activities performed without expectations of monetary remuneration. 
B)  the activities provided to complement a tangible good, such as technical support for a computer. 
C)  the intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. 
D)  any activity required for the production of a good that cannot be completed "in-house" and must be outsourced to another firm. 
E)  the human (nonmechanical) component that is part of the manufacturing process.

Question 16

Using an existing brand name to introduce a product that is new to the company into a totally new, unfamiliar product category seems like a good idea. This is what toothpaste manufacturer Colgate did when it put its brand name on Colgate's Kitchen Entrees, which failed quickly. This innovation strategy is an example of an unsuccessful

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 17

Until 1996, U.S. carmakers sent very few right-hand-drive cars to Japan while German carmakers exported several models with the steering wheel on the right to accommodate driving on the left-hand side of the road in Japan. American car manufacturers could blame their failure to a great degree on

Accepted Answer

A)  an insignificant point of difference. 
B)  too little market attractiveness. 
C)  not satisfying customer needs on critical factors. 
D)  poor product quality. 
E)  incomplete market and product protocol. 
A)  an insignificant point of difference. 
B)  too little market attractiveness. 
C)  not satisfying customer needs on critical factors. 
D)  poor product quality. 
E)  incomplete market and product protocol.

Question 18

Andrea Arenas is the owner of 2 Places at 1 Time, a concierge company. She and her staff of 60 perform everyday services, such as walking the dog, picking up cleaning, waiting for the repairman, and going to the post office for people who are too busy to perform these tasks. One way she tries to avoid ________ of services for her regular customers is to make sure that the same well-trained person is always assigned to work for the same client.

Accepted Answer

A)  inseparability 
B)  inconsistency 
C)  incongruity 
D)  inflexibility 
E)  intangibility 
A)  inseparability 
B)  inconsistency 
C)  incongruity 
D)  inflexibility 
E)  intangibility

Question 19

Which of the following is the best example of a nondurable good?

Accepted Answer

A)  notebook paper 
B)  skateboard 
C)  insurance 
D)  smartphone 
E)  laser surgery 
A)  notebook paper 
B)  skateboard 
C)  insurance 
D)  smartphone 
E)  laser surgery

Question 20

Idle production capacity affects service delivery and is defined as

Accepted Answer

A)  a situation where the demand for a service exceeds the availability of service providers and as a result, no services can be offered. 
B)  when the manufacturing of a good is stopped due to poor customer service. 
C)  a situation where a service provider is available but there is no demand for the service. 
D)  integrating the service component of the marketing mix with efforts to influence consumer demand. 
E)  the reduced effectiveness of one service provider serving multiple clients at the same time. 
A)  a situation where the demand for a service exceeds the availability of service providers and as a result, no services can be offered. 
B)  when the manufacturing of a good is stopped due to poor customer service. 
C)  a situation where a service provider is available but there is no demand for the service. 
D)  integrating the service component of the marketing mix with efforts to influence consumer demand. 
E)  the reduced effectiveness of one service provider serving multiple clients at the same time.

Explain what an unsought product is and give some examples.

Organizations attempt to reduce inconsistency in their services by

Equipment-based services do not have the marketing concern of inconsistent quality because ________ have been removed from the delivery of the service.

Open innovation is

All of the following are sources for new-product ideas except which?

________ includes considering employee interactions with customers to ensure they are consistently delivered and experienced, clearly differentiated from other offerings, and relevant and valuable to the target market.

A ________ is the unique identification number that defines an item for ordering or inventory purposes.

Which of the following best illustrates the concept of derived demand?

Unsought products are

Dragon Naturally Speaking, a speech recognition software program that allows you to use your voice instead of a keyboard to input text into a word processing program, is an example of

If an organization's 2018 sales for the entire United States were $50 million and its 2017 U.S. sales were $30 million, what is the annual percentage sales change?

Intangible items such as music festivals, legal advice, or public transportation that an organization provides to consumers are referred to as

During the first stage of the new-product development process, two important activities take place. They are

Marketing Dashboard Map -There are seven stages of the new-product development process. The last stage is

Services are

Until 1996, U.S. carmakers sent very few right-hand-drive cars to Japan while German carmakers exported several models with the steering wheel on the right to accommodate driving on the left-hand side of the road in Japan. American car manufacturers could blame their failure to a great degree on

Which of the following is the best example of a nondurable good?

Idle production capacity affects service delivery and is defined as

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

Explain what an unsought product is and give some examples.

Organizations attempt to reduce inconsistency in their services by

Equipment-based services do not have the marketing concern of inconsistent quality because ________ have been removed from the delivery of the service.

Open innovation is

All of the following are sources for new-product ideas except which?

________ includes considering employee interactions with customers to ensure they are consistently delivered and experienced, clearly differentiated from other offerings, and relevant and valuable to the target market.

A ________ is the unique identification number that defines an item for ordering or inventory purposes.

Which of the following best illustrates the concept of derived demand?

Unsought products are

Dragon Naturally Speaking, a speech recognition software program that allows you to use your voice instead of a keyboard to input text into a word processing program, is an example of

If an organization's 2018 sales for the entire United States were $50 million and its 2017 U.S. sales were $30 million, what is the annual percentage sales change?

Intangible items such as music festivals, legal advice, or public transportation that an organization provides to consumers are referred to as

During the first stage of the new-product development process, two important activities take place. They are

Marketing Dashboard Map -There are seven stages of the new-product development process. The last stage is

Services are

Until 1996, U.S. carmakers sent very few right-hand-drive cars to Japan while German carmakers exported several models with the steering wheel on the right to accommodate driving on the left-hand side of the road in Japan. American car manufacturers could blame their failure to a great degree on

Which of the following is the best example of a nondurable good?

Idle production capacity affects service delivery and is defined as

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