Exam 11: Developing and Managing Goods and Services

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

Marlon and Eden at Fresh 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.

Marketers have little influence over shaping consumers' concepts or perceptions.

Martin is a new product manager for a large biochemical firm. He is currently working on a proposal for a new chemical solvent and knows that introducing the new product can be risky because it might fail. He also knows that ___ is risky as well.

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.

Business analysis provides a tentative sketch of a product's profitability.

List and discuss the major phases of the new-product development process.

Services have six basic characteristics: intangibility, inseparability of production and consumption, perishability, client-based relationships, customer contact, and

The concept of product quality is the same from consumer to consumer and from consumer markets to organizational markets.

Explain how the characteristics of services affect the development and management of marketing mixes.

In product modification, the first issue to consider is whether

Consistency of product quality means giving consumers the quality they expect every time they purchase a product.

Using promotional efforts that encourage the trial use of some services can be an effective way for customers to assess the quality of the offered service.

The major drawback in using aesthetic modifications is that their value is determined subjectively.

The overall characteristics of a product that allow it to perform as expected in satisfying customer needs are called product quality.

Any service provider that offers time-sensitive services receives most of its revenue during

Which of the following is the best example of disruptive innovation?

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

Johan and Alecs are preparing budgets for a new product as well as finalizing plans for the full-scale marketing and manufacturing of the new Jinn-Vac. They are in the ____ phase of the new-product development process.

When Old Spice came out with the "Smell like a Man" advertising campaign, the goal was to _____ the brand from one that appealed to older men to a new, younger target market.