Question 1

A failure fee is a penalty payment

Accepted Answer

A) a retailer assesses a manufacturer to handle defective new products that customers returned. 
B) a wholesaler makes to a retailer as compensation for sales not made while the product was on the shelf. 
C) a retailer makes to a manufacturer for stockouts (not keeping point-of-purchase displays continuously stocked with the new product). 
D) a manufacturer makes to a wholesaler as compensation for case-lot sales not made to retailers. 
E) a manufacturer makes to compensate a retailer for devoting valuable shelf space to a product that fails to sell. 
A) a retailer assesses a manufacturer to handle defective new products that customers returned. 
B) a wholesaler makes to a retailer as compensation for sales not made while the product was on the shelf. 
C) a retailer makes to a manufacturer for stockouts (not keeping point-of-purchase displays continuously stocked with the new product). 
D) a manufacturer makes to a wholesaler as compensation for case-lot sales not made to retailers. 
E) a manufacturer makes to compensate a retailer for devoting valuable shelf space to a product that fails to sell.

Question 2

You decide to buy a new car.You talk to friends about it,research mechanical specifications in Consumer Reports,test-drive different makes and models,and compare prices at several dealerships.Into which classification of consumer products would your new car purchase fall?

Accepted Answer

A) specialty product 
B) unsought product 
C) discretionary product 
D) shopping product 
E) convenience product 
A) specialty product 
B) unsought product 
C) discretionary product 
D) shopping product 
E) convenience product

Question 3

There are seven stages of the new-product development process.The stage of the new-product development process that defines the role for a new product in terms of the firm's overall objectives is the ________ stage.

Accepted Answer

A) idea generation 
B) screening and evaluation 
C) screening and analysis 
D) new-product strategy development 
E) product assessment 
A) idea generation 
B) screening and evaluation 
C) screening and analysis 
D) new-product strategy development 
E) product assessment

Question 4

Figure 10-1
  
-Which type of consumer product is often very expensive,purchased infrequently,and takes an extensive amount of time to make the purchase decision?

Accepted Answer

A) convenience product 
B) shopping product 
C) specialty product 
D) unsought product 
E) discretionary product 
A) convenience product 
B) shopping product 
C) specialty product 
D) unsought product 
E) discretionary product

Question 5

Figure 10-1
  
-With respect to distribution,convenience products are available

Accepted Answer

A) at relatively few outlets. 
B) at a large number of specialty outlets. 
C) only online from the manufacturer. 
D) only at convenience stores. 
E) on a widespread basis at many outlets. 
A) at relatively few outlets. 
B) at a large number of specialty outlets. 
C) only online from the manufacturer. 
D) only at convenience stores. 
E) on a widespread basis at many outlets.

Question 6

Business products are also referred to as

Accepted Answer

A) commodities. 
B) industrial products. 
C) wares. 
D) resale products. 
E) merchandise. 
A) commodities. 
B) industrial products. 
C) wares. 
D) resale products. 
E) merchandise.

Question 7

Accessory equipment are support products that include items such as

Accepted Answer

A) stationery,paper clips,and brooms. 
B) tools and office equipment. 
C) buildings and fixed equipment. 
D) raw materials and component parts. 
E) maintenance,repair,and legal services. 
A) stationery,paper clips,and brooms. 
B) tools and office equipment. 
C) buildings and fixed equipment. 
D) raw materials and component parts. 
E) maintenance,repair,and legal services.

Question 8

Characterize the difference between a product line and a product mix.Give an example of each.

Accepted Answer

A product line is a group of products or

Question 9

A product mix refers to

Accepted Answer

A) all of the different product lines offered by an organization. 
B) the variations within a product class. 
C) a specific product SKU that has a unique brand,size,or price. 
D) a group of products that are closely related because they satisfy a class of needs,are used together,are sold to the same customer group,are distributed through the same types of outlets,or fall within a given price range. 
E) the entire product category or industry. 
A) all of the different product lines offered by an organization. 
B) the variations within a product class. 
C) a specific product SKU that has a unique brand,size,or price. 
D) a group of products that are closely related because they satisfy a class of needs,are used together,are sold to the same customer group,are distributed through the same types of outlets,or fall within a given price range. 
E) the entire product category or industry.

Question 10

According to the text,which of the following firms is in the development stage of the new-product development process for a driverless car?

Accepted Answer

A) Honda 
B) Apple 
C) Google 
D) Tesla 
E) General Motors 
A) Honda 
B) Apple 
C) Google 
D) Tesla 
E) General Motors

Question 11

Which of the following is a type of business product known as a support product?

Accepted Answer

A) accessory equipment 
B) components 
C) materials 
D) derived products 
E) complementary products 
A) accessory equipment 
B) components 
C) materials 
D) derived products 
E) complementary products

Question 12

________ consists of practices and processes that encourage the use of external as well as internal ideas and internal as well as external collaboration when conceiving,producing,and marketing new products and services.

Accepted Answer

A) Innovation partnership 
B) Open innovation 
C) Formalized collaboration 
D) Piggy-back thinking 
E) Stakeholder cooperation 
A) Innovation partnership 
B) Open innovation 
C) Formalized collaboration 
D) Piggy-back thinking 
E) Stakeholder cooperation

Question 13

The stage of the new-product development process that exposes actual products to prospective consumers under realistic purchase conditions to see if they will buy is referred to as

Accepted Answer

A) development. 
B) market testing. 
C) business analysis. 
D) commercialization. 
E) screening and evaluation. 
A) development. 
B) market testing. 
C) business analysis. 
D) commercialization. 
E) screening and evaluation.

Question 14

Which of the following is considered a durable good?

Accepted Answer

A) rake 
B) caviar 
C) movie tickets 
D) staples 
E) voting 
A) rake 
B) caviar 
C) movie tickets 
D) staples 
E) voting

Question 15

Figure 10-1
  
-In terms of brand loyalty,consumers prefer specific brands but will accept substitutes for which type of consumer product?

Accepted Answer

A) shopping product 
B) convenience product 
C) specialty product 
D) unsought product 
E) discretionary product 
A) shopping product 
B) convenience product 
C) specialty product 
D) unsought product 
E) discretionary product

Question 16

The type of good for which the consumer compares several alternatives on such criteria as price,quality,and style is

Accepted Answer

A) a shopping product. 
B) a convenience product. 
C) a specialty product. 
D) an unsought product. 
E) a B2B product. 
A) a shopping product. 
B) a convenience product. 
C) a specialty product. 
D) an unsought product. 
E) a B2B product.

Question 17

Open innovation may enhance the ________ stage of the new-product development process.

Accepted Answer

A) internal collaboration 
B) screening and evaluation 
C) product development 
D) new-product strategy development 
E) idea generation 
A) internal collaboration 
B) screening and evaluation 
C) product development 
D) new-product strategy development 
E) idea generation

Question 18

Among business products,which of the following would most likely be considered accessory equipment?

Accepted Answer

A) copper wiring 
B) a factory 
C) a cleaning service 
D) pneumatic nail gun 
E) ink-jet printer cartridges 
A) copper wiring 
B) a factory 
C) a cleaning service 
D) pneumatic nail gun 
E) ink-jet printer cartridges

Question 19

Products that usually last over many uses,such as cars and appliances,are referred to as

Accepted Answer

A) endurable goods. 
B) nondisposable goods. 
C) imperishable goods. 
D) reliable products. 
E) durable goods. 
A) endurable goods. 
B) nondisposable goods. 
C) imperishable goods. 
D) reliable products. 
E) durable goods.

Question 20

The Apple innovation that leading car manufacturers are incorporating into their offerings that allows users to make calls,listen to music,and access messages by voice or touch while driving is referred to as

Accepted Answer

A) iPod. 
B) iCloud. 
C) iCar. 
D) iPad. 
E) CarPlay. 
A) iPod. 
B) iCloud. 
C) iCar. 
D) iPad. 
E) CarPlay.

Exam 10: Developing New Products and Services

A failure fee is a penalty payment

You decide to buy a new car.You talk to friends about it,research mechanical specifications in Consumer Reports,test-drive different makes and models,and compare prices at several dealerships.Into which classification of consumer products would your new car purchase fall?

There are seven stages of the new-product development process.The stage of the new-product development process that defines the role for a new product in terms of the firm's overall objectives is the ________ stage.

Figure 10-1 -Which type of consumer product is often very expensive,purchased infrequently,and takes an extensive amount of time to make the purchase decision?

Figure 10-1 -With respect to distribution,convenience products are available

Business products are also referred to as

Accessory equipment are support products that include items such as

Characterize the difference between a product line and a product mix.Give an example of each.

A product mix refers to

According to the text,which of the following firms is in the development stage of the new-product development process for a driverless car?

Which of the following is a type of business product known as a support product?

________ consists of practices and processes that encourage the use of external as well as internal ideas and internal as well as external collaboration when conceiving,producing,and marketing new products and services.

The stage of the new-product development process that exposes actual products to prospective consumers under realistic purchase conditions to see if they will buy is referred to as

Which of the following is considered a durable good?

Figure 10-1 -In terms of brand loyalty,consumers prefer specific brands but will accept substitutes for which type of consumer product?

The type of good for which the consumer compares several alternatives on such criteria as price,quality,and style is

Open innovation may enhance the ________ stage of the new-product development process.

Among business products,which of the following would most likely be considered accessory equipment?

Products that usually last over many uses,such as cars and appliances,are referred to as

The Apple innovation that leading car manufacturers are incorporating into their offerings that allows users to make calls,listen to music,and access messages by voice or touch while driving is referred to as

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation, targeting, and Positioning

Managing Successful Products, services, and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising,sales Promotion,and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Writing Successful Marketing and Business Plans: Tips and Guidelines

Financial Statements and Ratios

Filters