Question 1

The idea that new technology and the products that utilize the technology spread through markets over time is called

Accepted Answer

A)  diffusion of innovation. 
B)  discontinuous innovation. 
C)  continuous innovation. 
D)  innovation. 
A)  diffusion of innovation. 
B)  discontinuous innovation. 
C)  continuous innovation. 
D)  innovation.

Question 2

How many groups are there in the diffusion of innovation?

Accepted Answer

A)  6 
B)  5 
C)  4 
D)  3 
A)  6 
B)  5 
C)  4 
D)  3

Question 3

How many levels is a product comprised of?

Accepted Answer

A)  3 
B)  2 
C)  1 
D)  0 
A)  3 
B)  2 
C)  1 
D)  0

Question 4

How many steps are there in the product development process?

Accepted Answer

A)  5 
B)  4 
C)  3 
D)  2 
A)  5 
B)  4 
C)  3 
D)  2

Question 5

A large jump in products benefit-delivering abilities is

Accepted Answer

A)  discontinuous innovation. 
B)  continuous innovation. 
C)  innovation. 
D)  creativity. 
A)  discontinuous innovation. 
B)  continuous innovation. 
C)  innovation. 
D)  creativity.

Question 6

Where would you expect to see product innovation ideas in the process development process?

Accepted Answer

A)  Conceptualization 
B)  Planning 
C)  Commercialization 
D)  Product concepts 
A)  Conceptualization 
B)  Planning 
C)  Commercialization 
D)  Product concepts

Question 7

Why is the new product development process important?

Accepted Answer

A)  New product development failure risk is high 
B)  Creativity is important 
C)  It doesn't involve collaboration between functional 
D)  Its slow and cumbersome 
A)  New product development failure risk is high 
B)  Creativity is important 
C)  It doesn't involve collaboration between functional 
D)  Its slow and cumbersome

Question 8

Which task does NOT belong in the planning phase?

Accepted Answer

A)  Idea screening 
B)  Business analysis 
C)  Marketing mix 
D)  Marketing strategy 
A)  Idea screening 
B)  Business analysis 
C)  Marketing mix 
D)  Marketing strategy

Question 9

Which of the following describes a(n) innovator?

Accepted Answer

A)  Young 
B)  Willing to take risk 
C)  Sense of tradition 
D)  Cautious 
A)  Young 
B)  Willing to take risk 
C)  Sense of tradition 
D)  Cautious

Question 10

Yeti's slogan "built for the wild' is building a brand image by

Accepted Answer

A)  how or when the product is used. 
B)  around the customer. 
C)  by identifying key benefits. 
D)  through leadership. 
A)  how or when the product is used. 
B)  around the customer. 
C)  by identifying key benefits. 
D)  through leadership.

Question 11

Idea Generation and Strategy Development belong in the conceptualization process.

Accepted Answer

A) True 
 B)False

Question 12

How many different groups of benefits are there to describe a product?

Accepted Answer

A)  5 
B)  4 
C)  3 
D)  2 
A)  5 
B)  4 
C)  3 
D)  2

Question 13

If a consumer buys Charmin bath tissue that is the exact same quality as a generic brand only more expensive, Charmin has created ________ with the consumer.

Accepted Answer

A)  brand Mark 
B)  brand Name 
C)  brand Equity 
D)  brand 
A)  brand Mark 
B)  brand Name 
C)  brand Equity 
D)  brand

Question 14

Which action are you most likely to see in the development stage of the PLC?

Accepted Answer

A)  Trial of a new product 
B)  Investments being made 
C)  Growth in product sales 
D)  Competing brands begin to emerge 
A)  Trial of a new product 
B)  Investments being made 
C)  Growth in product sales 
D)  Competing brands begin to emerge

Question 15

Which action are you most likely to see in the maturity stage?

Accepted Answer

A)  Competing brands begin to emerge 
B)  Sales begin to level off 
C)  Growth in product sales 
D)  Investments being made 
A)  Competing brands begin to emerge 
B)  Sales begin to level off 
C)  Growth in product sales 
D)  Investments being made

Question 16

Consumers typically enjoy a quality product, however one specific consumer will brand hop and pay higher prices for a higher quality product 8 out of 10 times. How could you describe this consumer?

Accepted Answer

A)  Purchases based on sensory benefits 
B)  Purchases based on resource benefits 
C)  Purchases based on all benefits 
D)  Incorporates his/her core values 
A)  Purchases based on sensory benefits 
B)  Purchases based on resource benefits 
C)  Purchases based on all benefits 
D)  Incorporates his/her core values

Question 17

Which is a task you are likely to see in the commercialization phase?

Accepted Answer

A)  Product development 
B)  Strategy development 
C)  Concept development 
D)  Business development 
A)  Product development 
B)  Strategy development 
C)  Concept development 
D)  Business development

Question 18

The financial value of a brand is captured in the concept of

Accepted Answer

A)  brand equity. 
B)  brands. 
C)  brand names. 
D)  brand marks. 
A)  brand equity. 
B)  brands. 
C)  brand names. 
D)  brand marks.

Question 19

The name or symbol that identifies a specific business's product or service

Accepted Answer

A)  branding. 
B)  brands. 
C)  brand marks. 
D)  brand names. 
A)  branding. 
B)  brands. 
C)  brand marks. 
D)  brand names.

Question 20

A consumer purchases new windows for his/her home to replace the original windows put in when they house was built, this could be an example of what type of benefit?

Accepted Answer

A)  Product 
B)  Resource benefit 
C)  Sensory benefit 
D)  The actual window 
A)  Product 
B)  Resource benefit 
C)  Sensory benefit 
D)  The actual window

The idea that new technology and the products that utilize the technology spread through markets over time is called

How many groups are there in the diffusion of innovation?

How many levels is a product comprised of?

How many steps are there in the product development process?

A large jump in products benefit-delivering abilities is

Where would you expect to see product innovation ideas in the process development process?

Why is the new product development process important?

Which task does NOT belong in the planning phase?

Which of the following describes a(n) innovator?

Yeti's slogan "built for the wild' is building a brand image by

Idea Generation and Strategy Development belong in the conceptualization process.

How many different groups of benefits are there to describe a product?

If a consumer buys Charmin bath tissue that is the exact same quality as a generic brand only more expensive, Charmin has created ________ with the consumer.

Which action are you most likely to see in the development stage of the PLC?

Which action are you most likely to see in the maturity stage?

Consumers typically enjoy a quality product, however one specific consumer will brand hop and pay higher prices for a higher quality product 8 out of 10 times. How could you describe this consumer?

Which is a task you are likely to see in the commercialization phase?

The financial value of a brand is captured in the concept of

The name or symbol that identifies a specific business's product or service

A consumer purchases new windows for his/her home to replace the original windows put in when they house was built, this could be an example of what type of benefit?

What Is Marketing

Marketing Strategy

The Marketing Environment

Customer Behavior

Research in Marketing

Segmentation, Targeting, and Positioning

Applying the Marketing Mix

Place Decisions and Customer Convenience

Managing Price and Customer Cost Perceptions

Promoting to Communicate With Customers

Encouraging Participation to Connect With Customers

Measuring Marketing Effectiveness Through Metrics

Developing an Integrated Marketing Mix

Finalizing a Marketing Plan

Filters

Exam 8: Products, Brands, and Customer Needs

The idea that new technology and the products that utilize the technology spread through markets over time is called

How many groups are there in the diffusion of innovation?

How many levels is a product comprised of?

How many steps are there in the product development process?

A large jump in products benefit-delivering abilities is

Where would you expect to see product innovation ideas in the process development process?

Why is the new product development process important?

Which task does NOT belong in the planning phase?

Which of the following describes a(n) innovator?

Yeti's slogan "built for the wild' is building a brand image by

Idea Generation and Strategy Development belong in the conceptualization process.

How many different groups of benefits are there to describe a product?

If a consumer buys Charmin bath tissue that is the exact same quality as a generic brand only more expensive, Charmin has created ________ with the consumer.

Which action are you most likely to see in the development stage of the PLC?

Which action are you most likely to see in the maturity stage?

Consumers typically enjoy a quality product, however one specific consumer will brand hop and pay higher prices for a higher quality product 8 out of 10 times. How could you describe this consumer?

Which is a task you are likely to see in the commercialization phase?

The financial value of a brand is captured in the concept of

The name or symbol that identifies a specific business's product or service

A consumer purchases new windows for his/her home to replace the original windows put in when they house was built, this could be an example of what type of benefit?

What Is Marketing

Marketing Strategy

The Marketing Environment

Customer Behavior

Research in Marketing

Segmentation, Targeting, and Positioning

Applying the Marketing Mix

Place Decisions and Customer Convenience

Managing Price and Customer Cost Perceptions

Promoting to Communicate With Customers

Encouraging Participation to Connect With Customers

Measuring Marketing Effectiveness Through Metrics

Developing an Integrated Marketing Mix

Finalizing a Marketing Plan

Filters