Question 1

Firms should design the highest performance level possible for their products.

Accepted Answer

A) True 
 B)False

Question 2

For ________ to be valued for products like vehicles and kitchen appliances, it should not be associated with an excessive price premium and the product must not be subject to rapid technological obsolescence.

Accepted Answer

A)  conformance quality 
B)  performance quality 
C)  repairability 
D)  durability 
E)  style 
A)  conformance quality 
B)  performance quality 
C)  repairability 
D)  durability 
E)  style

Question 3

GameTech International Inc. engages in the design, development, and marketing of interactive electronic bingo systems primarily in the United States. The company has plans to enter developing markets such as Brazil and India. TechToys, GameTech's major competitor has already started operations in India. GameTech decides to delay its entry to India and closely observe Techtoy's operations in India. What is the possible rationale behind this delaying decision?

Accepted Answer

GameTech is using the late entry strateg

Question 4

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and ________.

Accepted Answer

A)  natural products 
B)  component materials 
C)  operating supplies 
D)  equipment 
E)  processed materials 
A)  natural products 
B)  component materials 
C)  operating supplies 
D)  equipment 
E)  processed materials

Question 5

Dormentor, Inc. produces converts and markets packaging products including boxboard, container board, and numerous other specialty packaging products. In an attempt to increase its organic growth, the company decides to introduce new products. It asks the managers and employees to send in ideas for new products. Before launching products based on any of these ideas, what are the stages that the company has to go through?

Accepted Answer

The following are the steps that Dorment

Question 6

What is the significance of design for a company's products and services? What are the advantages of a good design?

Accepted Answer

Design offers a potent way to differenti

Question 7

Define line stretching and describe three types of line stretching.

Accepted Answer

Line stretching occurs when a company le

Question 8

A(n) ________ is an elaborated version of a product idea expressed in consumer terms.

Accepted Answer

A)  test brand 
B)  alpha product 
C)  beta product 
D)  business schedule 
E)  product concept 
A)  test brand 
B)  alpha product 
C)  beta product 
D)  business schedule 
E)  product concept

Question 9

Many sellers offer either general or specific guarantees. Guarantees reduce the buyer's ________ risk.

Accepted Answer

A)  actual 
B)  perceived 
C)  real 
D)  implied 
E)  stated 
A)  actual 
B)  perceived 
C)  real 
D)  implied 
E)  stated

Question 10

Cocreation can help a company create favorable word of mouth.

Accepted Answer

A) True 
 B)False

Question 11

Compare the uses of a product-positioning map and a brand-positioning map.

Accepted Answer

Marketers may use both kinds of maps dur

Question 12

Which of the following methods for new-product development incorporates buyers' preferences in the final design of the product?

Accepted Answer

A)  quality function deployment 
B)  market leadership 
C)  cost leadership 
D)  incremental innovation 
E)  disruptive technology 
A)  quality function deployment 
B)  market leadership 
C)  cost leadership 
D)  incremental innovation 
E)  disruptive technology

Question 13

Poga International, a multinational beverage corporation identifies that one of its competitors is launching an apple flavored drink. The company decides to launch an apple flavor brand along with its competitor. What timing strategy is used here?

Accepted Answer

A)  first entry 
B)  blunt entry 
C)  parallel entry 
D)  late entry 
E)  exchange entry 
A)  first entry 
B)  blunt entry 
C)  parallel entry 
D)  late entry 
E)  exchange entry

Question 14

In offering a product line, companies normally develop a ________ and modules that can be added to meet different customer requirements.

Accepted Answer

A)  convenience item 
B)  flagship product 
C)  staple item 
D)  potential product 
E)  basic platform 
A)  convenience item 
B)  flagship product 
C)  staple item 
D)  potential product 
E)  basic platform

Question 15

Explain the concepts of product-mix width, length, depth, and consistency.

Accepted Answer

The width of a product mix refers to how

Question 16

A business analysis is performed mainly to identify if a company has a technically and commercially sound product.

Accepted Answer

A) True 
 B)False

Question 17

When a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. This is an example of what level in the consumer-value hierarchy?

Accepted Answer

A)  pure tangible good 
B)  basic product 
C)  augmented product 
D)  potential product 
E)  generic product 
A)  pure tangible good 
B)  basic product 
C)  augmented product 
D)  potential product 
E)  generic product

Question 18

Packaging includes all the activities of designing and producing the container for a product. This includes up to three levels of material: primary package, secondary package, and ________ package.

Accepted Answer

A)  retailer 
B)  design 
C)  shipping 
D)  consumer 
E)  supplier 
A)  retailer 
B)  design 
C)  shipping 
D)  consumer 
E)  supplier

Question 19

Beta testing tests the product within the firm to see how it performs in different applications.

Accepted Answer

A) True 
 B)False

Question 20

Describe the six main service differentiators.

Accepted Answer

The main service differentiators are ord

Firms should design the highest performance level possible for their products.

For ________ to be valued for products like vehicles and kitchen appliances, it should not be associated with an excessive price premium and the product must not be subject to rapid technological obsolescence.

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and ________.

What is the significance of design for a company's products and services? What are the advantages of a good design?

Define line stretching and describe three types of line stretching.

A(n) ________ is an elaborated version of a product idea expressed in consumer terms.

Many sellers offer either general or specific guarantees. Guarantees reduce the buyer's ________ risk.

Cocreation can help a company create favorable word of mouth.

Compare the uses of a product-positioning map and a brand-positioning map.

Which of the following methods for new-product development incorporates buyers' preferences in the final design of the product?

Poga International, a multinational beverage corporation identifies that one of its competitors is launching an apple flavored drink. The company decides to launch an apple flavor brand along with its competitor. What timing strategy is used here?

In offering a product line, companies normally develop a ________ and modules that can be added to meet different customer requirements.

Explain the concepts of product-mix width, length, depth, and consistency.

A business analysis is performed mainly to identify if a company has a technically and commercially sound product.

When a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. This is an example of what level in the consumer-value hierarchy?

Packaging includes all the activities of designing and producing the container for a product. This includes up to three levels of material: primary package, secondary package, and ________ package.

Beta testing tests the product within the firm to see how it performs in different applications.

Describe the six main service differentiators.

Defining Marketing for the New Realities

Developing and Implementing Marketing Strategies and Plans

Capturing Marketing Insights and Forecasting Demand

Creating Long-Term Loyalty Relationships

Analyzing Consumer and Business Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning and Competing Effectively

Creating Brand Equity and Driving Growth

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Tapping Into Global Markets

Filters

Exam 9: Setting Product Strategy and Introducing New Offerings

Firms should design the highest performance level possible for their products.

For ________ to be valued for products like vehicles and kitchen appliances, it should not be associated with an excessive price premium and the product must not be subject to rapid technological obsolescence.

Capital items are long-lasting goods that facilitate developing or managing the finished product. They include two groups: installations and ________.

What is the significance of design for a company's products and services? What are the advantages of a good design?

Define line stretching and describe three types of line stretching.

A(n) ________ is an elaborated version of a product idea expressed in consumer terms.

Many sellers offer either general or specific guarantees. Guarantees reduce the buyer's ________ risk.

Cocreation can help a company create favorable word of mouth.

Compare the uses of a product-positioning map and a brand-positioning map.

Which of the following methods for new-product development incorporates buyers' preferences in the final design of the product?

Poga International, a multinational beverage corporation identifies that one of its competitors is launching an apple flavored drink. The company decides to launch an apple flavor brand along with its competitor. What timing strategy is used here?

In offering a product line, companies normally develop a ________ and modules that can be added to meet different customer requirements.

Explain the concepts of product-mix width, length, depth, and consistency.

A business analysis is performed mainly to identify if a company has a technically and commercially sound product.

When a shopper purchases new shoes, he or she expects the shoes to cover his or her feet and allow him or her to walk unobstructed. This is an example of what level in the consumer-value hierarchy?

Packaging includes all the activities of designing and producing the container for a product. This includes up to three levels of material: primary package, secondary package, and ________ package.

Beta testing tests the product within the firm to see how it performs in different applications.

Describe the six main service differentiators.

Defining Marketing for the New Realities

Developing and Implementing Marketing Strategies and Plans

Capturing Marketing Insights and Forecasting Demand

Creating Long-Term Loyalty Relationships

Analyzing Consumer and Business Markets

Identifying Market Segments and Targets

Crafting the Brand Positioning and Competing Effectively

Creating Brand Equity and Driving Growth

Designing and Managing Services

Developing Pricing Strategies and Programs

Designing and Managing Integrated Marketing Channels

Managing Retailing, Wholesaling, and Logistics

Designing and Managing Integrated Marketing Communications

Managing Mass Communications: Advertising, Sales Promotions, Events and Experiences, and Public Relations

Managing Digital Communications: Online, Social Media, and Mobile

Managing Personal Communications: Direct and Database Marketing and Personal Selling

Tapping Into Global Markets

Filters