Exam 7: Create the Product

For a veterinarian's office, the paper used to print payment receipts is an example of a(n)________.

The first phase of the new-product development process is ________.

Service ________ means that customers cannot see, touch, or smell good service.

Consumers must engage in a great amount of learning to use a ________ because no similar product has ever been on the market.

A product has three distinct layers.The second layer is the ________, which is the physical good or delivered service.

Prior to the development of the cardiac stent, surgeons used balloons to clear obstructed heart vessels, but there was no way to ensure the vessels would stay open.The stent is a tiny metal scaffold that props open the formerly obstructed blood vessel and keeps it from becoming obstructed again.Surgeons who use the stent had to engage in a great deal of learning to understand its use and its value in patient care.There was nothing like the stent on the market when it first appeared.The cardiac stent is an example of a ________.

A(n)________ is typically a nondurable good or service that consumers purchase frequently with a minimum of comparison and effort.

What must marketers do during the marketing strategy development phase of the new-product development process?

Burger King developed a new french fry to compete with McDonald's fry--considered the world's best.Burger King's specifications included that the crunch would last for seven or more chews.The product failed because consumers did not like the fry as much as McDonald's fry.Burger King did not ________ the idea for both technical and commercial value.

Marketers classify innovations into three categories based on their degree of newness.Explain these categories, identifying the role the consumer has in each.

________ are acts, efforts, or performances exchanged from producer to user without ownership rights.

Marketers classify convenience products as ________.

We consume ________ in the short term rather than the long term.

The largest adopter category is the early adopters.

How do marketers define innovation?

A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way to approach this problem proactively.They came up with an idea for a pair of blurry goggles.They believed looking through the goggles would simulate what the world looks like when someone is seriously intoxicated.The first crude pair of blurry goggles developed by the entrepreneurs to show to prospective customers was ________.

A customer got a great haircut at a salon and went back six weeks later to the same person to get a second haircut.This time, the customer received one of the worst haircuts of his life.The difference between the two haircuts are due to the ________ characteristic of services.

What is the intangibility of service? How might a package delivery service deal with the intangibility characteristic of services?.

Camille was standing in the checkout line at her neighborhood grocery last night when she saw a display of Hostess Twinkies.She remembered how much she had enjoyed Twinkies as a child, and she knew she just had to buy a package of Twinkies, even though it was not on her shopping list.For Camille, Twinkies are an example of a(n) ________.

Which of the following statements about durable goods is true?