Question 1

A venture team has the authority to execute plans for the development of products.

Accepted Answer

A) True 
 B)False  True

Question 2

To manage products effectively, the product manager must be independent of other departments.

Accepted Answer

A) True 
 B)False  False

Question 3

Test marketing is used by companies of all sizes, primarily because of the perceived risk of product failure on the open market and the associated consequences.

Accepted Answer

A) True 
 B)False  True

Question 4

Firms marketing a quality product that generates strong sales can afford to keep expenses down by eliminating new-product development.

Accepted Answer

A) True 
 B)False

Question 5

Both production and consumption of services occur at the same time.

Accepted Answer

A) True 
 B)False

Question 6

Luis Mayo is an accountant at Ralston Purina. However, he is currently working with a group to determine the feasibility of a new brand of hot breakfast cereal. After the product is launched, Luis will return to the accounting department. His present position can be described as a

Accepted Answer

A) product manager. 
B) brand manager. 
C) general manager. 
D) member of a venture team. 
E) market manager. 
A) product manager. 
B) brand manager. 
C) general manager. 
D) member of a venture team. 
E) market manager.

Question 7

Concerns about cannibalization of current product sales must be addressed in the ____ phase of the new-product development process.

Accepted Answer

A) screening 
B) concept testing 
C) business analysis 
D) product development 
E) test marketing 
A) screening 
B) concept testing 
C) business analysis 
D) product development 
E) test marketing

Question 8

PepsiCo has a new flavor of soft drink that it wants to test to determine reactions of probable buyers. Which of the following test-market characteristics would be least useful to PepsiCo when testing the new soft drink?

Accepted Answer

A) There are research and audit services available. 
B) Retailers would be cooperative. 
C) Testing efforts would not be easily jammed by competitors. 
D) Tourism is a major industry in the area. 
E) The city has stable year-round sales of soft drinks. 
A) There are research and audit services available. 
B) Retailers would be cooperative. 
C) Testing efforts would not be easily jammed by competitors. 
D) Tourism is a major industry in the area. 
E) The city has stable year-round sales of soft drinks.

Question 9

Automobile makers rely heavily on aesthetic modifications.

Accepted Answer

A) True 
 B)False

Question 10

Discuss the advantages and problems associated with test marketing.

Accepted Answer

The answer of Discuss the advantages and problems associated with...

Question 11

Services are products that can be touched and felt.

Accepted Answer

A) True 
 B)False

Question 12

Brand and product managers operate cross-functionally.

Accepted Answer

A) True 
 B)False

Question 13

Ideally, test marketing should follow which stage in the new-product development process?

Accepted Answer

A) Commercialization 
B) Business analysis 
C) Screening 
D) Limited production 
E) Product development 
A) Commercialization 
B) Business analysis 
C) Screening 
D) Limited production 
E) Product development

Question 14

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called

Accepted Answer

A) concept testing. 
B) customer response testing. 
C) idea analysis. 
D) test marketing. 
E) screening. 
A) concept testing. 
B) customer response testing. 
C) idea analysis. 
D) test marketing. 
E) screening.

Question 15

Marketers begin to make decisions about labeling, packaging, branding, pricing, and promotion during

Accepted Answer

A) commercialization. 
B) screening. 
C) concept testing. 
D) product development. 
E) test marketing. 
A) commercialization. 
B) screening. 
C) concept testing. 
D) product development. 
E) test marketing.

Question 16

All of the following are major steps in developing new products except

Accepted Answer

A) test marketing. 
B) evaluation of competitors' efforts. 
C) screening. 
D) business analysis. 
E) idea generation. 
A) test marketing. 
B) evaluation of competitors' efforts. 
C) screening. 
D) business analysis. 
E) idea generation.

Question 17

Angela and Ralph at Tablerock Foods believe they have come up with a delicious low-calorie dessert, but they have some doubt about which of two promotional and pricing campaigns will be better received by consumers. In this instance, they probably should proceed to the ____ stage of the new-product development process.

Accepted Answer

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

Question 18

After a company has created a prototype during the product development stage, its performance, or ____ must be tested.

Accepted Answer

A) appeal to customers 
B) dependability 
C) durability 
D) functionality 
E) pricing 
A) appeal to customers 
B) dependability 
C) durability 
D) functionality 
E) pricing

Question 19

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and

Accepted Answer

A) modification should make the product more consistent with customers' desires. 
B) competing companies should not be aware of planned product modifications. 
C) modification should change customers' desires to provide greater satisfaction. 
D) management must perceive the modification as a reasonable and necessary action. 
E) production costs and materials needed should be limited. 
A) modification should make the product more consistent with customers' desires. 
B) competing companies should not be aware of planned product modifications. 
C) modification should change customers' desires to provide greater satisfaction. 
D) management must perceive the modification as a reasonable and necessary action. 
E) production costs and materials needed should be limited.

Question 20

Jason Robinson, a dentist, finds that he is not bringing in enough revenue to cover his expenses. He would like to schedule more patients, but he finds that in almost every time slot, he is seeing an existing patient. Jim's difficulty in expanding his practice involves the aspect of service called

Accepted Answer

A) slotting. 
B) perishability. 
C) credence. 
D) inseparability. 
E) heterogeneity. 
A) slotting. 
B) perishability. 
C) credence. 
D) inseparability. 
E) heterogeneity.

A venture team has the authority to execute plans for the development of products.

To manage products effectively, the product manager must be independent of other departments.

Test marketing is used by companies of all sizes, primarily because of the perceived risk of product failure on the open market and the associated consequences.

Firms marketing a quality product that generates strong sales can afford to keep expenses down by eliminating new-product development.

Both production and consumption of services occur at the same time.

Luis Mayo is an accountant at Ralston Purina. However, he is currently working with a group to determine the feasibility of a new brand of hot breakfast cereal. After the product is launched, Luis will return to the accounting department. His present position can be described as a

Concerns about cannibalization of current product sales must be addressed in the ____ phase of the new-product development process.

PepsiCo has a new flavor of soft drink that it wants to test to determine reactions of probable buyers. Which of the following test-market characteristics would be least useful to PepsiCo when testing the new soft drink?

Automobile makers rely heavily on aesthetic modifications.

Discuss the advantages and problems associated with test marketing.

Services are products that can be touched and felt.

Brand and product managers operate cross-functionally.

Ideally, test marketing should follow which stage in the new-product development process?

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called

Marketers begin to make decisions about labeling, packaging, branding, pricing, and promotion during

All of the following are major steps in developing new products except

After a company has created a prototype during the product development stage, its performance, or ____ must be tested.

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and

Jason Robinson, a dentist, finds that he is not bringing in enough revenue to cover his expenses. He would like to schedule more patients, but he finds that in almost every time slot, he is seeing an existing patient. Jim's difficulty in expanding his practice involves the aspect of service called

Customer-Driven Strategic Marketing

Planning Marketing Strategies

The Marketing Environment, Social Responsibility, and Ethics

Marketing Research and Information Systems

Target Market Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

E-Marketing, Digital Media, and Social Networking

Product, Branding, and Packaging Concepts

Pricing Concepts

Pricing Management

A:marketing Channels and Supply-Chain Management

B:marketing Channels and Supply-Chain Management

A:retailing, Direct Marketing, and Wholesaling

B:retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Filters

Exam 11: Developing and Managing Goods and Services

A venture team has the authority to execute plans for the development of products.

To manage products effectively, the product manager must be independent of other departments.

Test marketing is used by companies of all sizes, primarily because of the perceived risk of product failure on the open market and the associated consequences.

Firms marketing a quality product that generates strong sales can afford to keep expenses down by eliminating new-product development.

Both production and consumption of services occur at the same time.

Luis Mayo is an accountant at Ralston Purina. However, he is currently working with a group to determine the feasibility of a new brand of hot breakfast cereal. After the product is launched, Luis will return to the accounting department. His present position can be described as a

Concerns about cannibalization of current product sales must be addressed in the ____ phase of the new-product development process.

PepsiCo has a new flavor of soft drink that it wants to test to determine reactions of probable buyers. Which of the following test-market characteristics would be least useful to PepsiCo when testing the new soft drink?

Automobile makers rely heavily on aesthetic modifications.

Discuss the advantages and problems associated with test marketing.

Services are products that can be touched and felt.

Brand and product managers operate cross-functionally.

Ideally, test marketing should follow which stage in the new-product development process?

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called

Marketers begin to make decisions about labeling, packaging, branding, pricing, and promotion during

All of the following are major steps in developing new products except

After a company has created a prototype during the product development stage, its performance, or ____ must be tested.

In product modification, three conditions must be met to improve a firm's product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and

Jason Robinson, a dentist, finds that he is not bringing in enough revenue to cover his expenses. He would like to schedule more patients, but he finds that in almost every time slot, he is seeing an existing patient. Jim's difficulty in expanding his practice involves the aspect of service called

Customer-Driven Strategic Marketing

Planning Marketing Strategies

The Marketing Environment, Social Responsibility, and Ethics

Marketing Research and Information Systems

Target Market Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

E-Marketing, Digital Media, and Social Networking

Product, Branding, and Packaging Concepts

Pricing Concepts

Pricing Management

A:marketing Channels and Supply-Chain Management

B:marketing Channels and Supply-Chain Management

A:retailing, Direct Marketing, and Wholesaling

B:retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Filters