Question 1

New-product development does not include planning for advertising.

Accepted Answer

A) True 
 B)False  False

Question 2

Identify and explain the dimensions of product quality.

Accepted Answer

Changes concerning a product's dependability and durability are called quality modifications. Usually, they are executed by altering the materials or the production process. Reducing a product's quality may allow a company to lower its price and direct the item at a larger target market. Higher quality may enable a company to charge a higher price by creating customer loyalty and by lowering customer sensitivity to price. However, higher quality may require the use of more expensive components, less standardized production processes, and other manufacturing and management techniques that force a company to charge higher prices.

Question 3

Relatively few product ideas are put into the product development stage.

Accepted Answer

A) True 
 B)False  True

Question 4

The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.

Accepted Answer

A)  idea generation 
B)  screening 
C)  product development 
D)  test marketing 
E)  business analysis 
A)  idea generation 
B)  screening 
C)  product development 
D)  test marketing 
E)  business analysis

Question 5

Compare and contrast line extensions and product modifications and give examples of each.

Accepted Answer

A line extension is the development of a

Question 6

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

Accepted Answer

A)  test marketing. 
B)  evaluation of competitors' efforts. 
C)  screening. 
D)  business analysis. 
E)  idea generation. 
A)  test marketing. 
B)  evaluation of competitors' efforts. 
C)  screening. 
D)  business analysis. 
E)  idea generation.

Question 7

Test marketing is used by companies of all sizes, primarily because of the perceived risk of product failure on the open market and the associated consequences.

Accepted Answer

A) True 
 B)False

Question 8

Why are line extensions more common than new products?

Accepted Answer

A)  They are higher risk and more expensive. 
B)  They are guaranteed to succeed in the marketplace. 
C)  They are less expensive and lower-risk. 
D)  They require no market research. 
E)  Modifications to existing products are very easy. 
A)  They are higher risk and more expensive. 
B)  They are guaranteed to succeed in the marketplace. 
C)  They are less expensive and lower-risk. 
D)  They require no market research. 
E)  Modifications to existing products are very easy.

Question 9

An important question in the business analysis stage of new-product development is, "Will this product meet our profit goal?"

Accepted Answer

A) True 
 B)False

Question 10

The test-marketing stage:

Accepted Answer

A)  is an extension of the screening stage. 
B)  should come immediately after business analysis. 
C)  ensures that the product will not fail. 
D)  is a sample launching of the entire marketing mix. 
E)  prevents competitors from copying the product. 
A)  is an extension of the screening stage. 
B)  should come immediately after business analysis. 
C)  ensures that the product will not fail. 
D)  is a sample launching of the entire marketing mix. 
E)  prevents competitors from copying the product.

Question 11

What is commercialization?

Accepted Answer

During the commercialization phase, plan

Question 12

Concept testing gives reliable feedback, but at a relatively high cost.

Accepted Answer

A) True 
 B)False

Question 13

Test marketing is a sample launching of the entire marketing mix.

Accepted Answer

A) True 
 B)False

Question 14

Marketers begin to make decisions about labelling, packaging, branding, pricing, and promotion during:

Accepted Answer

A)  commercialization. 
B)  screening. 
C)  concept testing. 
D)  product development. 
E)  test marketing. 
A)  commercialization. 
B)  screening. 
C)  concept testing. 
D)  product development. 
E)  test marketing.

Question 15

A complex product development process, including an extensive business analysis to determine the possibility of success, are hallmarks of a:

Accepted Answer

A)  genuinely new product. 
B)  radically new product. 
C)  new product failure. 
D)  controlled new product. 
E)  market share advance. 
A)  genuinely new product. 
B)  radically new product. 
C)  new product failure. 
D)  controlled new product. 
E)  market share advance.

Question 16

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called:

Accepted Answer

A)  concept testing. 
B)  customer response testing. 
C)  idea analysis. 
D)  test marketing. 
E)  screening. 
A)  concept testing. 
B)  customer response testing. 
C)  idea analysis. 
D)  test marketing. 
E)  screening.

Question 17

The ability of a product to provide the same level of quality over time is called:

Accepted Answer

A)  consistency. 
B)  longevity. 
C)  variability. 
D)  status. 
E)  image. 
A)  consistency. 
B)  longevity. 
C)  variability. 
D)  status. 
E)  image.

Question 18

Systematic reviews of a company's product mix aid in determining when product deletion is necessary.

Accepted Answer

A) True 
 B)False

Question 19

In product modification, the first issue to consider is whether:

Accepted Answer

A)  existing customers can perceive that a product modification has been made. 
B)  the product is modifiable. 
C)  quality is modified. 
D)  modification will make the product more consistent with customers' desires. 
E)  modification will provide greater satisfaction to the consumer. 
A)  existing customers can perceive that a product modification has been made. 
B)  the product is modifiable. 
C)  quality is modified. 
D)  modification will make the product more consistent with customers' desires. 
E)  modification will provide greater satisfaction to the consumer.

Question 20

Why is a product mix portfolio important?

Accepted Answer

A company often has to modify existing p

New-product development does not include planning for advertising.

Identify and explain the dimensions of product quality.

Relatively few product ideas are put into the product development stage.

The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.

Compare and contrast line extensions and product modifications and give examples of each.

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

Test marketing is used by companies of all sizes, primarily because of the perceived risk of product failure on the open market and the associated consequences.

Why are line extensions more common than new products?

An important question in the business analysis stage of new-product development is, "Will this product meet our profit goal?"

The test-marketing stage:

What is commercialization?

Concept testing gives reliable feedback, but at a relatively high cost.

Test marketing is a sample launching of the entire marketing mix.

Marketers begin to make decisions about labelling, packaging, branding, pricing, and promotion during:

A complex product development process, including an extensive business analysis to determine the possibility of success, are hallmarks of a:

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called:

The ability of a product to provide the same level of quality over time is called:

Systematic reviews of a company's product mix aid in determining when product deletion is necessary.

In product modification, the first issue to consider is whether:

Why is a product mix portfolio important?

The Marketing Concept

Marketing Strategy and Understanding Competitors

The Marketing Environment

Consumer Buying Behaviour

Business Markets and Business Buying Behaviour

Segmenting, Targeting and Positioning

Marketing Research

Product Decisions

The Marketing of Services

Marketing Channels

Pricing

Marketing Communications

Branding and Packaging

Planning and Implementation

Filters

Exam 9: Developing Products and Managing Product Portfolios

New-product development does not include planning for advertising.

Identify and explain the dimensions of product quality.

Relatively few product ideas are put into the product development stage.

The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.

Compare and contrast line extensions and product modifications and give examples of each.

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

Test marketing is used by companies of all sizes, primarily because of the perceived risk of product failure on the open market and the associated consequences.

Why are line extensions more common than new products?

An important question in the business analysis stage of new-product development is, "Will this product meet our profit goal?"

The test-marketing stage:

What is commercialization?

Concept testing gives reliable feedback, but at a relatively high cost.

Test marketing is a sample launching of the entire marketing mix.

Marketers begin to make decisions about labelling, packaging, branding, pricing, and promotion during:

A complex product development process, including an extensive business analysis to determine the possibility of success, are hallmarks of a:

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called:

The ability of a product to provide the same level of quality over time is called:

Systematic reviews of a company's product mix aid in determining when product deletion is necessary.

In product modification, the first issue to consider is whether:

Why is a product mix portfolio important?

The Marketing Concept

Marketing Strategy and Understanding Competitors

The Marketing Environment

Consumer Buying Behaviour

Business Markets and Business Buying Behaviour

Segmenting, Targeting and Positioning

Marketing Research

Product Decisions

The Marketing of Services

Marketing Channels

Pricing

Marketing Communications

Branding and Packaging

Planning and Implementation

Filters