Question 1

All of the following are disadvantages of test marketing EXCEPT that test marketing ________.

Accepted Answer

A)  is typically expensive 
B)  can be time consuming 
C)  enables competitors to gain advantages 
D)  encourages dishonesty among participants 
E)  fails to guarantee product success in the market 
A)  is typically expensive 
B)  can be time consuming 
C)  enables competitors to gain advantages 
D)  encourages dishonesty among participants 
E)  fails to guarantee product success in the market

Question 2

In a ________, new products and marketing tactics are tested online in a virtual shopping environment.

Accepted Answer

A)  controlled test market 
B)  simulated test market 
C)  standard test market 
D)  focus group 
E)  survey 
A)  controlled test market 
B)  simulated test market 
C)  standard test market 
D)  focus group 
E)  survey

Question 3

Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes product tests, the next step is ________.

Accepted Answer

A)  test marketing 
B)  focus group surveys 
C)  commercialization 
D)  concept testing 
E)  business analysis 
A)  test marketing 
B)  focus group surveys 
C)  commercialization 
D)  concept testing 
E)  business analysis

Question 4

Sales of products decline because of technological advances, shifts in consumer tastes, and increased competition.

Accepted Answer

A) True 
 B)False

Question 5

Differentiate between a product idea, a product concept, and a product image.

Accepted Answer

A product idea is an idea for a product

Question 6

Harvesting the product involves reducing various costs such as maintenance, R&D, and advertising to increase profits.

Accepted Answer

A) True 
 B)False

Question 7

In a(n) ________, new products and marketing tactics are tested among specifically identified groups of customers and stores.

Accepted Answer

A)  controlled test market 
B)  simulated test market 
C)  standard test market 
D)  systematic sample 
E)  accidental sample 
A)  controlled test market 
B)  simulated test market 
C)  standard test market 
D)  systematic sample 
E)  accidental sample

Question 8

JumBo Games is in the commercialization stage. The first decision that the firm should make while introducing the product in the market is introduction timing.

Accepted Answer

A) True 
 B)False

Question 9

According to the PLC, the ________ stage is reached when sales plunge to zero, or when they drop to a low level where they continue for many years.

Accepted Answer

A)  laggard 
B)  decline 
C)  maturity 
D)  growth 
E)  incubation 
A)  laggard 
B)  decline 
C)  maturity 
D)  growth 
E)  incubation

Question 10

Acquisition involves the purchase of a whole company, a patent, or a license to produce someone else's product.

Accepted Answer

A) True 
 B)False

Question 11

Which of the following groups do marketers involve for the process of concept testing new products?

Accepted Answer

A)  suppliers 
B)  employees 
C)  target consumers 
D)  manufacturers 
E)  competitors 
A)  suppliers 
B)  employees 
C)  target consumers 
D)  manufacturers 
E)  competitors

Question 12

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the ________ stage.

Accepted Answer

A)  business analysis 
B)  idea generation 
C)  concept testing 
D)  idea screening 
E)  concept development 
A)  business analysis 
B)  idea generation 
C)  concept testing 
D)  idea screening 
E)  concept development

Question 13

Which of the following best describes the role of a product steward?

Accepted Answer

A)  to protect employees and laborers from harm 
B)  to evaluate new product ideas against a set of general criteria 
C)  to develop a new product concept into a physical product 
D)  to protect consumers from harm and the company from liability 
E)  to decide whether to maintain, harvest, or drop the product in the decline stage of the PLC 
A)  to protect employees and laborers from harm 
B)  to evaluate new product ideas against a set of general criteria 
C)  to develop a new product concept into a physical product 
D)  to protect consumers from harm and the company from liability 
E)  to decide whether to maintain, harvest, or drop the product in the decline stage of the PLC

Question 14

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?

Accepted Answer

A)  retest the product in additional markets 
B)  develop a planned market rollout over time 
C)  liquidate its assets to gain capital and capacity 
D)  seek the help of a nationally known consultant 
E)  develop a prototype 
A)  retest the product in additional markets 
B)  develop a planned market rollout over time 
C)  liquidate its assets to gain capital and capacity 
D)  seek the help of a nationally known consultant 
E)  develop a prototype

Question 15

In the new product development process, the first idea-reducing stage is ________.

Accepted Answer

A)  business analysis 
B)  idea generation 
C)  concept development 
D)  crowdsourcing 
E)  idea screening 
A)  business analysis 
B)  idea generation 
C)  concept development 
D)  crowdsourcing 
E)  idea screening

Question 16

The business analysis stage represents the first large jump in financial investment in the new product development process.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is a consequence of standardizing an international product?

Accepted Answer

A)  image consistency 
B)  regional design flexibility 
C)  decreased product demand 
D)  increased manufacturing costs 
E)  higher marketing costs 
A)  image consistency 
B)  regional design flexibility 
C)  decreased product demand 
D)  increased manufacturing costs 
E)  higher marketing costs

Question 18

A detailed version of a new idea stated in meaningful customer terms is called a product ________.

Accepted Answer

A)  solution 
B)  concept 
C)  image 
D)  proposal 
E)  lining 
A)  solution 
B)  concept 
C)  image 
D)  proposal 
E)  lining

Question 19

The distribution strategy during the decline stage of PLC involves building more intensive distribution networks.

Accepted Answer

A) True 
 B)False

Question 20

Identify the major sources of external new product ideas and explain why these sources offer advantages over internal sources.

Accepted Answer

The major external sources of new produc

All of the following are disadvantages of test marketing EXCEPT that test marketing ________.

In a ________, new products and marketing tactics are tested online in a virtual shopping environment.

Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes product tests, the next step is ________.

Sales of products decline because of technological advances, shifts in consumer tastes, and increased competition.

Differentiate between a product idea, a product concept, and a product image.

Harvesting the product involves reducing various costs such as maintenance, R&D, and advertising to increase profits.

In a(n) ________, new products and marketing tactics are tested among specifically identified groups of customers and stores.

JumBo Games is in the commercialization stage. The first decision that the firm should make while introducing the product in the market is introduction timing.

According to the PLC, the ________ stage is reached when sales plunge to zero, or when they drop to a low level where they continue for many years.

Acquisition involves the purchase of a whole company, a patent, or a license to produce someone else's product.

Which of the following groups do marketers involve for the process of concept testing new products?

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the ________ stage.

Which of the following best describes the role of a product steward?

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?

In the new product development process, the first idea-reducing stage is ________.

The business analysis stage represents the first large jump in financial investment in the new product development process.

Which of the following is a consequence of standardizing an international product?

A detailed version of a new idea stated in meaningful customer terms is called a product ________.

The distribution strategy during the decline stage of PLC involves building more intensive distribution networks.

Identify the major sources of external new product ideas and explain why these sources offer advantages over internal sources.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 9: Developing New Products and Managing the Product Life Cycle

All of the following are disadvantages of test marketing EXCEPT that test marketing ________.

In a ________, new products and marketing tactics are tested online in a virtual shopping environment.

Once the prototype of Wainwright Industries' new riding lawnmower, made especially for women, passes product tests, the next step is ________.

Sales of products decline because of technological advances, shifts in consumer tastes, and increased competition.

Differentiate between a product idea, a product concept, and a product image.

Harvesting the product involves reducing various costs such as maintenance, R&D, and advertising to increase profits.

In a(n) ________, new products and marketing tactics are tested among specifically identified groups of customers and stores.

JumBo Games is in the commercialization stage. The first decision that the firm should make while introducing the product in the market is introduction timing.

According to the PLC, the ________ stage is reached when sales plunge to zero, or when they drop to a low level where they continue for many years.

Acquisition involves the purchase of a whole company, a patent, or a license to produce someone else's product.

Which of the following groups do marketers involve for the process of concept testing new products?

Executives at an automobile manufacturing company conducted a brainstorming session for selected employees. This session resulted in a large number of ideas for developing new cars after extensive R&D. The executives then planned to filter out the best ideas during the ________ stage.

Which of the following best describes the role of a product steward?

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?

In the new product development process, the first idea-reducing stage is ________.

The business analysis stage represents the first large jump in financial investment in the new product development process.

Which of the following is a consequence of standardizing an international product?

A detailed version of a new idea stated in meaningful customer terms is called a product ________.

The distribution strategy during the decline stage of PLC involves building more intensive distribution networks.

Identify the major sources of external new product ideas and explain why these sources offer advantages over internal sources.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters