Question 1

A focus group would most likely be used in the ________ stage of new product development.

Accepted Answer

A)  idea screening 
B)  concept development 
C)  test marketing 
D)  commercialization 
E)  business analysis 
A)  idea screening 
B)  concept development 
C)  test marketing 
D)  commercialization 
E)  business analysis

Question 2

Which of the following statements best explains why idea screening may be the most important step of new product development?

Accepted Answer

A)  It increases the number of ideas generated. 
B)  Some potentially profitable ideas may be ill perceived by the idea screeners. 
C)  Some ideas that will become market disasters may be originally viewed favorably by the idea screeners. 
D)  It gives research and development team members an opportunity to gather consumer feedback. 
E)  It saves the company money in product development costs by giving the green light to only the product ideas that are likely to be profitable. 
A)  It increases the number of ideas generated. 
B)  Some potentially profitable ideas may be ill perceived by the idea screeners. 
C)  Some ideas that will become market disasters may be originally viewed favorably by the idea screeners. 
D)  It gives research and development team members an opportunity to gather consumer feedback. 
E)  It saves the company money in product development costs by giving the green light to only the product ideas that are likely to be profitable.

Question 3

________ are less frequently purchased consumer products that customers compare carefully on quality, features, and benefits.

Accepted Answer

A)  Shopping products 
B)  Convenience products 
C)  Unsought products 
D)  Industrial products 
E)  Line extensions 
A)  Shopping products 
B)  Convenience products 
C)  Unsought products 
D)  Industrial products 
E)  Line extensions

Question 4

Which of the following statements about the innovation adoption categories is true?

Accepted Answer

A)  More than 50 percent of the population is classified as late majority adopters. 
B)  Early adopters avoid risk. 
C)  Early majority adopters do not want to be the first or the last to try a new product. 
D)  Innovators are a much larger group than laggards. 
E)  Late majority adopters are typically very concerned about social acceptance. 
A)  More than 50 percent of the population is classified as late majority adopters. 
B)  Early adopters avoid risk. 
C)  Early majority adopters do not want to be the first or the last to try a new product. 
D)  Innovators are a much larger group than laggards. 
E)  Late majority adopters are typically very concerned about social acceptance.

Question 5

A ________ is the collection of all products and services offered by a company.

Accepted Answer

A)  product portfolio 
B)  brand line 
C)  consumer mix 
D)  product line 
E)  line extension 
A)  product portfolio 
B)  brand line 
C)  consumer mix 
D)  product line 
E)  line extension

Question 6

________ is a process of using statistical analysis to continually reduce manufacturing defects.

Accepted Answer

A)  Discontinuous innovation 
B)  Six Sigma 
C)  QFD 
D)  ISO 9000 
E)  ISO 9001 
A)  Discontinuous innovation 
B)  Six Sigma 
C)  QFD 
D)  ISO 9000 
E)  ISO 9001

Question 7

Identify and briefly describe the five innovation adoption segments in the population.

Accepted Answer

The five innovation adoption segments ar

Question 8

A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania, from locally grown wood is an example of a ________.

Accepted Answer

A)  convenience product 
B)  shopping product 
C)  specialty product 
D)  service 
E)  core product 
A)  convenience product 
B)  shopping product 
C)  specialty product 
D)  service 
E)  core product

Question 9

All of the following are stages in the PLC EXCEPT ________.

Accepted Answer

A)  introduction 
B)  growth 
C)  maturity 
D)  adoption 
E)  decline 
A)  introduction 
B)  growth 
C)  maturity 
D)  adoption 
E)  decline

Question 10

In which stage of the PLC will promotional expenditures be high in an attempt to respond to increasing competition?

Accepted Answer

A)  growth 
B)  decline 
C)  maturity 
D)  product development 
E)  adoption 
A)  growth 
B)  decline 
C)  maturity 
D)  product development 
E)  adoption

Question 11

In business markets, ________ are finished products that organizations use to complete their own products.

Accepted Answer

A)  components 
B)  equipment products 
C)  processed materials 
D)  MRO products 
E)  raw materials 
A)  components 
B)  equipment products 
C)  processed materials 
D)  MRO products 
E)  raw materials

Question 12

Sony offers consumers more than just camcorders; it provides consumers with a complete solution to their picture-taking problems, including additional customer service and product warranties. This offering is called an augmented product.

Accepted Answer

A) True 
 B)False

Question 13

Luxury, all-inclusive vacations cannot be characterized as specialty products.

Accepted Answer

A) True 
 B)False

Question 14

A product that has entered the decline stage could most likely be cycled back to the growth or maturity stage through ________.

Accepted Answer

A)  promotion or repositioning 
B)  concept testing 
C)  business analysis 
D)  a penetration strategy 
E)  a skimming strategy 
A)  promotion or repositioning 
B)  concept testing 
C)  business analysis 
D)  a penetration strategy 
E)  a skimming strategy

Question 15

PLC stands for product level concept.

Accepted Answer

A) True 
 B)False

Question 16

________ is a method through which customer needs are translated into product and quality requirements.

Accepted Answer

A)  Discontinuous innovation 
B)  Six Sigma 
C)  QFD 
D)  ISO 9000 
E)  !SO 9001 
A)  Discontinuous innovation 
B)  Six Sigma 
C)  QFD 
D)  ISO 9000 
E)  !SO 9001

Question 17

The ________ of a service means that it cannot be stored for later use and must be consumed upon delivery.

Accepted Answer

A)  inseparability 
B)  perishability 
C)  tangibility 
D)  intangibility 
E)  variability 
A)  inseparability 
B)  perishability 
C)  tangibility 
D)  intangibility 
E)  variability

Question 18

Having recently celebrated her 50th birthday, Mattel's Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC.

Accepted Answer

A)  introduction 
B)  growth 
C)  maturity 
D)  decline 
E)  adoption 
A)  introduction 
B)  growth 
C)  maturity 
D)  decline 
E)  adoption

Question 19

Product ________ contributes to a product's usability as well as to its looks.

Accepted Answer

A)  style 
B)  design 
C)  augmentation 
D)  brand 
E)  utility 
A)  style 
B)  design 
C)  augmentation 
D)  brand 
E)  utility

Question 20

One of the distinguishing characteristics of a service is utility, which means that the service cannot be separated from its means or manner of production.

Accepted Answer

A) True 
 B)False

A focus group would most likely be used in the ________ stage of new product development.

Which of the following statements best explains why idea screening may be the most important step of new product development?

________ are less frequently purchased consumer products that customers compare carefully on quality, features, and benefits.

Which of the following statements about the innovation adoption categories is true?

A ________ is the collection of all products and services offered by a company.

________ is a process of using statistical analysis to continually reduce manufacturing defects.

Identify and briefly describe the five innovation adoption segments in the population.

A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania, from locally grown wood is an example of a ________.

All of the following are stages in the PLC EXCEPT ________.

In which stage of the PLC will promotional expenditures be high in an attempt to respond to increasing competition?

In business markets, ________ are finished products that organizations use to complete their own products.

Sony offers consumers more than just camcorders; it provides consumers with a complete solution to their picture-taking problems, including additional customer service and product warranties. This offering is called an augmented product.

Luxury, all-inclusive vacations cannot be characterized as specialty products.

A product that has entered the decline stage could most likely be cycled back to the growth or maturity stage through ________.

PLC stands for product level concept.

________ is a method through which customer needs are translated into product and quality requirements.

The ________ of a service means that it cannot be stored for later use and must be consumed upon delivery.

Having recently celebrated her 50th birthday, Mattel's Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC.

Product ________ contributes to a product's usability as well as to its looks.

One of the distinguishing characteristics of a service is utility, which means that the service cannot be separated from its means or manner of production.

The Meaning of Marketing

The Market in Marketing

Planning and Marketing in an Organization

A Broader Perspective on Marketing

Global Marketing

Value for Customers

A Perspective on Consumer Behavior

Consumer Insight

The Brand

Segmenting, Targeting, and Positioning

The Marketing Plan

Pricing Strategies

Supply Chain and Distribution Strategies

Retailing and Wholesaling Strategies

Advertising and Sales Promotion Strategies

Personal Selling and Direct Marketing Strategies

The Communications Mix

The Marketing Mix

Marketing Performance Measurement

Filters

Exam 12: Product and Service Strategies

A focus group would most likely be used in the ________ stage of new product development.

Which of the following statements best explains why idea screening may be the most important step of new product development?

________ are less frequently purchased consumer products that customers compare carefully on quality, features, and benefits.

Which of the following statements about the innovation adoption categories is true?

A ________ is the collection of all products and services offered by a company.

________ is a process of using statistical analysis to continually reduce manufacturing defects.

Identify and briefly describe the five innovation adoption segments in the population.

A hickory rocking chair, handmade by an Amish woodcarver in Lancaster, Pennsylvania, from locally grown wood is an example of a ________.

All of the following are stages in the PLC EXCEPT ________.

In which stage of the PLC will promotional expenditures be high in an attempt to respond to increasing competition?

In business markets, ________ are finished products that organizations use to complete their own products.

Sony offers consumers more than just camcorders; it provides consumers with a complete solution to their picture-taking problems, including additional customer service and product warranties. This offering is called an augmented product.

Luxury, all-inclusive vacations cannot be characterized as specialty products.

A product that has entered the decline stage could most likely be cycled back to the growth or maturity stage through ________.

PLC stands for product level concept.

________ is a method through which customer needs are translated into product and quality requirements.

The ________ of a service means that it cannot be stored for later use and must be consumed upon delivery.

Having recently celebrated her 50th birthday, Mattel's Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC.

Product ________ contributes to a product's usability as well as to its looks.

One of the distinguishing characteristics of a service is utility, which means that the service cannot be separated from its means or manner of production.

The Meaning of Marketing

The Market in Marketing

Planning and Marketing in an Organization

A Broader Perspective on Marketing

Global Marketing

Value for Customers

A Perspective on Consumer Behavior

Consumer Insight

The Brand

Segmenting, Targeting, and Positioning

The Marketing Plan

Pricing Strategies

Supply Chain and Distribution Strategies

Retailing and Wholesaling Strategies

Advertising and Sales Promotion Strategies

Personal Selling and Direct Marketing Strategies

The Communications Mix

The Marketing Mix

Marketing Performance Measurement

Filters