Question 1

A(n) _____ typically includes executives from major departments who work together to plan and develop new products.

Accepted Answer

A)  joint venture alliance 
B)  new product team 
C)  strategic alliance 
D)  executive alliance 
E)  product-planning committee 
A)  joint venture alliance 
B)  new product team 
C)  strategic alliance 
D)  executive alliance 
E)  product-planning committee

Question 2

Which of the following is an example of a raw material for a company that produces jams and jellies?

Accepted Answer

A)  vats used in manufacturing 
B)  pectin used for thickening the jelly 
C)  jars in which the jams and jellies are sold 
D)  refined sugar 
E)  fruit 
A)  vats used in manufacturing 
B)  pectin used for thickening the jelly 
C)  jars in which the jams and jellies are sold 
D)  refined sugar 
E)  fruit

Question 3

Which of the following is LEAST likely to be thought of by its buyers as a convenience good?

Accepted Answer

A)  National Enquirer newspaper 
B)  a tennis racket 
C)  adhesive tape 
D)  fingernail clippers 
E)  Wrigley's chewing gum 
A)  National Enquirer newspaper 
B)  a tennis racket 
C)  adhesive tape 
D)  fingernail clippers 
E)  Wrigley's chewing gum

Question 4

Which of the following is an example of fabricating parts and materials used by a book publisher?

Accepted Answer

A)  a copying machine 
B)  spellchecking software 
C)  desks, filing cabinets, and office chairs 
D)  computer 
E)  paper and ink for printing 
A)  a copying machine 
B)  spellchecking software 
C)  desks, filing cabinets, and office chairs 
D)  computer 
E)  paper and ink for printing

Question 5

Candy, breath mints, nail clippers, and aspirin are all examples of convenience goods.

Accepted Answer

A) True 
 B)False

Question 6

The effectiveness of individual brand managers depends upon:

Accepted Answer

A)  the type of distribution strategy implemented. 
B)  their ability to influence other executives to cooperate with their plans. 
C)  the design of the organizational chart. 
D)  how many hierarchical levels the organization has. 
E)  the actions of the steering committee. 
A)  the type of distribution strategy implemented. 
B)  their ability to influence other executives to cooperate with their plans. 
C)  the design of the organizational chart. 
D)  how many hierarchical levels the organization has. 
E)  the actions of the steering committee.

Question 7

Which of the following is an example of accessory equipment for a taxidermy company that prepares trophy animals for display?

Accepted Answer

A)  formaldehyde for preserving 
B)  glass eyes 
C)  a receipt book 
D)  a refrigerating unit 
E)  cleaning rags 
A)  formaldehyde for preserving 
B)  glass eyes 
C)  a receipt book 
D)  a refrigerating unit 
E)  cleaning rags

Question 8

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

Accepted Answer

A)  an exercise bicycle 
B)  fat-free ice cream 
C)  an Armani suit 
D)  potatoes 
E)  nail clippers 
A)  an exercise bicycle 
B)  fat-free ice cream 
C)  an Armani suit 
D)  potatoes 
E)  nail clippers

Question 9

Which of the following statements about the marketing of raw materials in their natural state is True?

Accepted Answer

A)  The supply of these products is limitless. 
B)  The supply of these products is easily replenished. 
C)  Many small producers are involved. 
D)  These products have a high unit value. 
E)  Standardization and grading are commonplace. 
A)  The supply of these products is limitless. 
B)  The supply of these products is easily replenished. 
C)  Many small producers are involved. 
D)  These products have a high unit value. 
E)  Standardization and grading are commonplace.

Question 10

Which of the following is an example of a question a manufacturer considering adding a new product to its current assortment should ask?

Accepted Answer

A)  Is the new product compatible with environmental standards? 
B)  Does the product fit the company's current marketing structure? 
C)  Will the new product reduce seasonal and cyclical fluctuations in the company's sales? 
D)  Do enough people really want this product? 
E)  All of the above questions should be asked by a manufacturer considering adding a new product to its current assortment. 
A)  Is the new product compatible with environmental standards? 
B)  Does the product fit the company's current marketing structure? 
C)  Will the new product reduce seasonal and cyclical fluctuations in the company's sales? 
D)  Do enough people really want this product? 
E)  All of the above questions should be asked by a manufacturer considering adding a new product to its current assortment.

Question 11

A manufacturer that wants to sustain its revenues and profits should engage in new-product development because:

Accepted Answer

A)  federal regulations require that a certain percentage of a company's products must be new. 
B)  products inevitably pass through a product life cycle that culminates in a sales decline. 
C)  new products are always the most profitable ones. 
D)  copyright protections last for only 5 years unless the product is somehow revitalized. 
E)  consumers do not like to buy products that are not innovative. 
A)  federal regulations require that a certain percentage of a company's products must be new. 
B)  products inevitably pass through a product life cycle that culminates in a sales decline. 
C)  new products are always the most profitable ones. 
D)  copyright protections last for only 5 years unless the product is somehow revitalized. 
E)  consumers do not like to buy products that are not innovative.

Question 12

Which of the following is an example of an installation?

Accepted Answer

A)  a dump truck 
B)  a movable display unit for a brand of soft drink 
C)  a charcoal grill 
D)  a farmer's silo used to store his annual wheat harvest 
E)  all of the above 
A)  a dump truck 
B)  a movable display unit for a brand of soft drink 
C)  a charcoal grill 
D)  a farmer's silo used to store his annual wheat harvest 
E)  all of the above

Question 13

In the process of diffusion, a(n) _____ is a person who seeks to accelerate the spread of a given innovation.

Accepted Answer

A)  idea orchestrator 
B)  change agent 
C)  adaptation force 
D)  idea catalyst 
E)  idea generator 
A)  idea orchestrator 
B)  change agent 
C)  adaptation force 
D)  idea catalyst 
E)  idea generator

Question 14

Which of the following describes a question a middleman does NOT need to ask itself before deciding to buy a new product for resale?

Accepted Answer

A)  Does the production process for this new product pollute the environment? 
B)  If adding a new product necessitates eliminating another product because of a shortage of shelf or . storage space, will the result be a net gain in sales? 
C)  What kind of selling effort is required for this product? 
D)  Does the product complement existing products? 
E)  Can we make a sufficient profit with this product? 
A)  Does the production process for this new product pollute the environment? 
B)  If adding a new product necessitates eliminating another product because of a shortage of shelf or . storage space, will the result be a net gain in sales? 
C)  What kind of selling effort is required for this product? 
D)  Does the product complement existing products? 
E)  Can we make a sufficient profit with this product?

Question 15

Because most dog owners do not know it exists, Sun Spot, a spray that protects dogs from ultraviolet rays, is best categorized as a(n) _____ good.

Accepted Answer

A)  unsought 
B)  impulse 
C)  specialty 
D)  convenience 
E)  shopping 
A)  unsought 
B)  impulse 
C)  specialty 
D)  convenience 
E)  shopping

Question 16

Which of the following products is the BEST example of an unsought product for the average member of Generation X?

Accepted Answer

A)  sheets and towels 
B)  burial insurance 
C)  a plane ticket to Orlando, Florida 
D)  a home equity loan 
E)  replacement storm windows 
A)  sheets and towels 
B)  burial insurance 
C)  a plane ticket to Orlando, Florida 
D)  a home equity loan 
E)  replacement storm windows

Question 17

To be classified as a new product, a product must be truly unique from anything else currently on the market.

Accepted Answer

A) True 
 B)False

Question 18

The characteristics of installations that differentiate them from other categories of business goods is that they:

Accepted Answer

A)  do not depreciate. 
B)  directly affect the scale of operation for the buyer. 
C)  are always classified as modified rebuys. 
D)  are unaffected by technological obsolescence. 
E)  require a totally different promotional mix. 
A)  do not depreciate. 
B)  directly affect the scale of operation for the buyer. 
C)  are always classified as modified rebuys. 
D)  are unaffected by technological obsolescence. 
E)  require a totally different promotional mix.

Question 19

Which of the following is an example of a consumer product?

Accepted Answer

A)  tomato plants purchased by a farmer who will sell the vegetables to his local supermarket 
B)  motor oil purchased by a mechanic for an old Corvair he is fixing up for a customer 
C)  ribbon, lace, buttons, and fabric purchased as stock for a crafts store 
D)  a dentist's purchase of audio tapes to play in her office to soothe nervous patients 
E)  a plane ticket bought by a young executive for a vacation trip to Tokyo 
A)  tomato plants purchased by a farmer who will sell the vegetables to his local supermarket 
B)  motor oil purchased by a mechanic for an old Corvair he is fixing up for a customer 
C)  ribbon, lace, buttons, and fabric purchased as stock for a crafts store 
D)  a dentist's purchase of audio tapes to play in her office to soothe nervous patients 
E)  a plane ticket bought by a young executive for a vacation trip to Tokyo

Question 20

As a result of the way in which convenience products must be marketed, their manufacturers:

Accepted Answer

A)  rarely advertise because of the expense involved. 
B)  seldom employ wholesalers in the distribution of their products. 
C)  find it too expensive to sell direct to consumers. 
D)  are interested in selling their products in a limited number of retail outlets. 
E)  customarily sell their products through their own retail stores. 
A)  rarely advertise because of the expense involved. 
B)  seldom employ wholesalers in the distribution of their products. 
C)  find it too expensive to sell direct to consumers. 
D)  are interested in selling their products in a limited number of retail outlets. 
E)  customarily sell their products through their own retail stores.

Exam 8: Product Planning and Development

A(n) _____ typically includes executives from major departments who work together to plan and develop new products.

Which of the following is an example of a raw material for a company that produces jams and jellies?

Which of the following is LEAST likely to be thought of by its buyers as a convenience good?

Which of the following is an example of fabricating parts and materials used by a book publisher?

Candy, breath mints, nail clippers, and aspirin are all examples of convenience goods.

The effectiveness of individual brand managers depends upon:

Which of the following is an example of accessory equipment for a taxidermy company that prepares trophy animals for display?

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

Which of the following statements about the marketing of raw materials in their natural state is True?

Which of the following is an example of a question a manufacturer considering adding a new product to its current assortment should ask?

A manufacturer that wants to sustain its revenues and profits should engage in new-product development because:

Which of the following is an example of an installation?

In the process of diffusion, a(n) _____ is a person who seeks to accelerate the spread of a given innovation.

Which of the following describes a question a middleman does NOT need to ask itself before deciding to buy a new product for resale?

Because most dog owners do not know it exists, Sun Spot, a spray that protects dogs from ultraviolet rays, is best categorized as a(n) _____ good.

Which of the following products is the BEST example of an unsought product for the average member of Generation X?

To be classified as a new product, a product must be truly unique from anything else currently on the market.

The characteristics of installations that differentiate them from other categories of business goods is that they:

Which of the following is an example of a consumer product?

As a result of the way in which convenience products must be marketed, their manufacturers:

The Field of Marketing

The Dynamic Marketing Environment

Global Markets and Marketing

Consumer Markets and Buying Behavior

Business Markets and Buying Behavior

Marketing Research and Market Information

Product-Mix Strategies

Brands, Packaging, and Other Product Features

Services Marketing

Price Determination

Pricing Strategies

Channels of Distribution

Retailing

Wholesaling and Physical Distribution

Integrated Marketing Communications

Personal Selling and Sales Management

Advertising, Sales Promotion, and Public Relations

Strategic Marketing Planning

Marketing Implementation and Evaluation

Marketing and the Information Economy

Market Segmentation Targeting and Positioning

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