Question 1

In the business market, products of the fishing and agricultural industries purchased to use in a finished product are examples of ________.

Accepted Answer

A) component parts 
B) accessory equipment 
C) processed materials 
D) MRO products 
E) raw materials 
A) component parts 
B) accessory equipment 
C) processed materials 
D) MRO products 
E) raw materials E

Question 2

Innovators tend to be better off financially than consumers in other adopter groups.

Accepted Answer

A) True 
 B)False  True

Question 3

When we need a(n)________, price and product quality may be irrelevant to our purchase decision.

Accepted Answer

A) emergency product 
B) staple 
C) impulse product 
D) shopping product 
E) unsought product 
A) emergency product 
B) staple 
C) impulse product 
D) shopping product 
E) unsought product A

Question 4

Microsoft launched a massive $500 million marketing campaign when it introduced the Xbox, promoting the new product through in-store merchandising, retailer incentives, events, and sponsorships, in addition to traditional advertising.What stage of the consumers' adoption of a new product was Microsoft most trying to influence? Support your answer.

Accepted Answer

Microsoft may have been trying to influe

Question 5

A website is full of games, activities, music, and stories that appeal to children of all ages.Before a parent commits to paying the annual membership fee to gain access to the site, she can register for one free month of use.By accepting the free month's usage, potential adopters move into the ________ stage.

Accepted Answer

A) interest 
B) awareness 
C) trial 
D) confirmation 
E) evaluation 
A) interest 
B) awareness 
C) trial 
D) confirmation 
E) evaluation

Question 6

Which type of product is a basic or necessary item that is available almost everywhere?

Accepted Answer

A) emergency product 
B) staple 
C) impulse product 
D) shopping product 
E) unsought product 
A) emergency product 
B) staple 
C) impulse product 
D) shopping product 
E) unsought product

Question 7

A hospital that spends hundreds of thousands of dollars on lifesaving monitoring equipment demands that the seller provide in-service training on the equipment for its personnel.The hospital also expects the seller of the equipment to quickly respond any time the equipment needs maintenance.The monitoring equipment is an example of a(n) ________.

Accepted Answer

A) goods-dominated product 
B) service-dominated good 
C) equipment-based service 
D) facility-based service 
E) people-based service 
A) goods-dominated product 
B) service-dominated good 
C) equipment-based service 
D) facility-based service 
E) people-based service

Question 8

Nondurable goods are more likely than durable goods to be purchased under conditions of high involvement.

Accepted Answer

A) True 
 B)False

Question 9

Explain durable and nondurable goods.Give an example of each.

Accepted Answer

Durable and nondurable goods are goods t

Question 10

Product adoption is the process by which a consumer or business customer begins to buy and use a new good, service, or idea.

Accepted Answer

A) True 
 B)False

Question 11

The opportunities for ________ provided by the Internet have helped many companies in the financial services area address the problem of the inseparability of services.

Accepted Answer

A) capacity management 
B) disintermediation 
C) servicescape management 
D) transactional marketing 
E) critical incident management 
A) capacity management 
B) disintermediation 
C) servicescape management 
D) transactional marketing 
E) critical incident management

Question 12

The purchase of a specialty product typically involves extended problem solving for the consumer.

Accepted Answer

A) True 
 B)False

Question 13

Carpet and furniture repair are classified as ________.

Accepted Answer

A) tangible services performed on the customer 
B) tangible services performed on the customer's possessions 
C) tangible goods delivered to the customer 
D) intangible services performed on the customer 
E) intangible services performed on the customer's possessions 
A) tangible services performed on the customer 
B) tangible services performed on the customer's possessions 
C) tangible goods delivered to the customer 
D) intangible services performed on the customer 
E) intangible services performed on the customer's possessions

Question 14

During the technical development phase of the new product development process, a physical version of the product is developed; it is called a ________.

Accepted Answer

A) test market 
B) focus group 
C) business analysis 
D) product concept 
E) prototype 
A) test market 
B) focus group 
C) business analysis 
D) product concept 
E) prototype

Question 15

Marketers classify innovations based on their ________.

Accepted Answer

A) degree of newness 
B) costs to manufacture 
C) prices 
D) degree of tangibility 
E) contribution margins 
A) degree of newness 
B) costs to manufacture 
C) prices 
D) degree of tangibility 
E) contribution margins

Question 16

Diffusion refers to ________.

Accepted Answer

A) the promotion used to support products throughout their product life cycle 
B) the second stage of the market segmentation process 
C) the methodology used for evaluating new product ideas 
D) the way the use of a product spreads throughout a population 
E) the selection of opinion leaders to encourage product acceptance 
A) the promotion used to support products throughout their product life cycle 
B) the second stage of the market segmentation process 
C) the methodology used for evaluating new product ideas 
D) the way the use of a product spreads throughout a population 
E) the selection of opinion leaders to encourage product acceptance

Question 17

In the product concept development and screening phase of new-product development, insights gleaned from Facebook are useful, but won't replace a formal focus group.

Accepted Answer

A) True 
 B)False

Question 18

What are the disadvantages and advantages associated with test marketing?

Accepted Answer

The disadvantages of test marketing are

Question 19

Test marketing is an inexpensive way to predict whether a new product will be a success.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following adjectives best describes a product that would be classified as a good?

Accepted Answer

A) nonperishable 
B) convenient 
C) disposable 
D) tangible 
E) heterogeneous 
A) nonperishable 
B) convenient 
C) disposable 
D) tangible 
E) heterogeneous

In the business market, products of the fishing and agricultural industries purchased to use in a finished product are examples of ________.

Innovators tend to be better off financially than consumers in other adopter groups.

When we need a(n)________, price and product quality may be irrelevant to our purchase decision.

Which type of product is a basic or necessary item that is available almost everywhere?

Nondurable goods are more likely than durable goods to be purchased under conditions of high involvement.

Explain durable and nondurable goods.Give an example of each.

Product adoption is the process by which a consumer or business customer begins to buy and use a new good, service, or idea.

The opportunities for ________ provided by the Internet have helped many companies in the financial services area address the problem of the inseparability of services.

The purchase of a specialty product typically involves extended problem solving for the consumer.

Carpet and furniture repair are classified as ________.

During the technical development phase of the new product development process, a physical version of the product is developed; it is called a ________.

Marketers classify innovations based on their ________.

Diffusion refers to ________.

In the product concept development and screening phase of new-product development, insights gleaned from Facebook are useful, but won't replace a formal focus group.

What are the disadvantages and advantages associated with test marketing?

Test marketing is an inexpensive way to predict whether a new product will be a success.

Which of the following adjectives best describes a product that would be classified as a good?

Welcome to the World of Marketing: Create and Deliver Value

Strategic Market Planning: Take the Big Picture

Marketing Research: Gather, Analyze, and Use Information

Consumer Behaviour: How and Why We Buy ?

Business-To-Business Markets: How and Why Organizations Buy?

Sharpen the Focus: Target Marketing Strategies and Customer Relationship

Manage the Product

Price the Product

One to Many to Many to Many: Traditional and New Media

Advertising, Public Relations, Promotions, Direct Marketing and Personal Selling

Deliver the Value Through Supply Chain Management, Channels of Distribution, and Logistics

Filters

Exam 7: Create the Product

In the business market, products of the fishing and agricultural industries purchased to use in a finished product are examples of ________.

Innovators tend to be better off financially than consumers in other adopter groups.

When we need a(n)________, price and product quality may be irrelevant to our purchase decision.

Which type of product is a basic or necessary item that is available almost everywhere?

Nondurable goods are more likely than durable goods to be purchased under conditions of high involvement.

Explain durable and nondurable goods.Give an example of each.

Product adoption is the process by which a consumer or business customer begins to buy and use a new good, service, or idea.

The opportunities for ________ provided by the Internet have helped many companies in the financial services area address the problem of the inseparability of services.

The purchase of a specialty product typically involves extended problem solving for the consumer.

Carpet and furniture repair are classified as ________.

During the technical development phase of the new product development process, a physical version of the product is developed; it is called a ________.

Marketers classify innovations based on their ________.

Diffusion refers to ________.

In the product concept development and screening phase of new-product development, insights gleaned from Facebook are useful, but won't replace a formal focus group.

What are the disadvantages and advantages associated with test marketing?

Test marketing is an inexpensive way to predict whether a new product will be a success.

Which of the following adjectives best describes a product that would be classified as a good?

Welcome to the World of Marketing: Create and Deliver Value

Strategic Market Planning: Take the Big Picture

Marketing Research: Gather, Analyze, and Use Information

Consumer Behaviour: How and Why We Buy ?

Business-To-Business Markets: How and Why Organizations Buy?

Sharpen the Focus: Target Marketing Strategies and Customer Relationship

Manage the Product

Price the Product

One to Many to Many to Many: Traditional and New Media

Advertising, Public Relations, Promotions, Direct Marketing and Personal Selling

Deliver the Value Through Supply Chain Management, Channels of Distribution, and Logistics

Filters