Question 1

Accessory equipment are support products that include items such as

Accepted Answer

A) stationery, paper clips, and brooms. 
B) tools and office equipment. 
C) buildings and fixed equipment. 
D) raw materials and component parts. 
E) maintenance, repair, and legal services. 
A) stationery, paper clips, and brooms. 
B) tools and office equipment. 
C) buildings and fixed equipment. 
D) raw materials and component parts. 
E) maintenance, repair, and legal services.

Question 2

Product mix refers to

Accepted Answer

A) all of the different product lines offered by an organization. 
B) the variations within a product class. 
C) a specific product SKU that has a unique brand, size, or price. 
D) a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range. 
E) the entire product category or industry. 
A) all of the different product lines offered by an organization. 
B) the variations within a product class. 
C) a specific product SKU that has a unique brand, size, or price. 
D) a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range. 
E) the entire product category or industry.

Question 3

During which stage of the new-product process are audiences allowed to preview actual movies (a sneak preview) <including examples dates the question> so that changes might be made before they are released to the general public?

Accepted Answer

A) market testing 
B) business analysis 
C) commercialization 
D) screening and evaluation 
E) concept testing 
A) market testing 
B) business analysis 
C) commercialization 
D) screening and evaluation 
E) concept testing

Question 4

The stage of the new-product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort is referred to as

Accepted Answer

A) development. 
B) Stage-Gate. 
C) idea generation. 
D) business analysis. 
E) screening and evaluation. 
A) development. 
B) Stage-Gate. 
C) idea generation. 
D) business analysis. 
E) screening and evaluation.

Question 5

Nicole owns a small organic spice company called RaisaSpice and was looking for a new product to add to her company's line. A friend suggested combining spices from India with tea. In the __________ stage of the new-product process, the spice and tea mixtures were distributed to grocery stores in Portland and Seattle to see if they sold well.

Accepted Answer

A) idea generation 
B) screening and evaluation 
C) business analysis 
D) market testing 
E) commercialization 
A) idea generation 
B) screening and evaluation 
C) business analysis 
D) market testing 
E) commercialization

Question 6

In addition to seeking ideas from more well-known sources, organizations also get ideas from universities, inventors, and smaller nontraditional firms. For example, General Mills partnered with Brigham Young University to license its patent for

Accepted Answer

A) scones with coffee-flavored cream frosting. 
B) an Omega-3 enriched SKU for the Philadelphia cream cheese line. 
C) a carbonated yogurt called Go-Gurt Fizzix. 
D) deep fried chicken skins for people who cannot eat pork. 
E) a crispy baked macaroni and cheese snack that can be eaten out of a bag like Cheetos. 
A) scones with coffee-flavored cream frosting. 
B) an Omega-3 enriched SKU for the Philadelphia cream cheese line. 
C) a carbonated yogurt called Go-Gurt Fizzix. 
D) deep fried chicken skins for people who cannot eat pork. 
E) a crispy baked macaroni and cheese snack that can be eaten out of a bag like Cheetos.

Question 7

Products organizations buy that assist in providing other products for resale are referred to as

Accepted Answer

A) reseller goods. 
B) wholesale goods. 
C) business products. 
D) ancillary products. 
E) retail products. 
A) reseller goods. 
B) wholesale goods. 
C) business products. 
D) ancillary products. 
E) retail products.

Question 8

An important aspect of the screening and evaluation stage of the new-product process is an examination of the technical feasibility for the product. For example, 3M was able to use the firm's micro-replication technology (the 3,000 tiny fingers) to

Accepted Answer

A) improve the gripping power of batting or work gloves. 
B) keep baseball caps from sliding off the heads of bald men. 
C) make Formula One race cars more aerodynamic. 
D) serve as a replacement for Velcro's hook-and-loop fasteners. 
E) hold pictures in a photo album without damaging them. 
A) improve the gripping power of batting or work gloves. 
B) keep baseball caps from sliding off the heads of bald men. 
C) make Formula One race cars more aerodynamic. 
D) serve as a replacement for Velcro's hook-and-loop fasteners. 
E) hold pictures in a photo album without damaging them.

Question 9

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as a thesaurus) that a prospective buyer may not initially want. This type of consumer service is referred to as

Accepted Answer

A) an unsought product. 
B) a shopping product. 
C) a convenience product. 
D) a specialty product. 
E) a support product. 
A) an unsought product. 
B) a shopping product. 
C) a convenience product. 
D) a specialty product. 
E) a support product.

Question 10

Product refers to

Accepted Answer

A) a tangible good received in exchange for a person's time and effort. 
B) intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. 
C) a good that has in some way been altered, combined, or improved and sold to organizational buyers. 
D) a thought that leads to an action such as a concept for a new invention. 
E) a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value. 
A) a tangible good received in exchange for a person's time and effort. 
B) intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. 
C) a good that has in some way been altered, combined, or improved and sold to organizational buyers. 
D) a thought that leads to an action such as a concept for a new invention. 
E) a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value.

Question 11

Cars and appliances are classified as

Accepted Answer

A) reusable goods. 
B) nondisposable goods. 
C) imperishable goods. 
D) reliable products. 
E) durable goods. 
A) reusable goods. 
B) nondisposable goods. 
C) imperishable goods. 
D) reliable products. 
E) durable goods.

Question 12

Among consumer products, advertising is especially important for

Accepted Answer

A) durable goods. 
B) specialty products. 
C) nondurable goods. 
D) production goods. 
E) semidurable goods. 
A) durable goods. 
B) specialty products. 
C) nondurable goods. 
D) production goods. 
E) semidurable goods.

Question 13

How can a firm use a test market in its new-product development process?

Accepted Answer

Test marketing involves offering actual

Question 14

Which of the following statements regarding goods is most accurate?

Accepted Answer

A) In order to be classified as a good, an item must appeal to all five senses. 
B) Music is not considered a good because it only involves a single sense-hearing. 
C) Some goods also have intangible attributes. 
D) To market a good that contains visual attributes, you cannot use an auditory medium. 
E) The aroma of chocolate chip cookies is considered an idea because it affects one's senses. 
A) In order to be classified as a good, an item must appeal to all five senses. 
B) Music is not considered a good because it only involves a single sense-hearing. 
C) Some goods also have intangible attributes. 
D) To market a good that contains visual attributes, you cannot use an auditory medium. 
E) The aroma of chocolate chip cookies is considered an idea because it affects one's senses.

Question 15

Business researchers emphasize that firms must actively involve customers and suppliers in the new-product development process. This means that the focus should be on what the new product will __________ rather than simply what they want.

Accepted Answer

A) look like 
B) cost them 
C) do for them 
D) feel like 
E) consist of in terms of new features 
A) look like 
B) cost them 
C) do for them 
D) feel like 
E) consist of in terms of new features

Question 16

In marketing, __________ is a thought that leads to a product or action.

Accepted Answer

A) an observation 
B) an inspiration 
C) an innovation 
D) an idea 
E) a perception 
A) an observation 
B) an inspiration 
C) an innovation 
D) an idea 
E) a perception

Question 17

Among business products, which of the following would most likely be considered accessory equipment?

Accepted Answer

A) copper wiring 
B) a factory 
C) a cleaning service 
D) pneumatic nail gun 
E) ink-jet printer cartridges 
A) copper wiring 
B) a factory 
C) a cleaning service 
D) pneumatic nail gun 
E) ink-jet printer cartridges

Question 18

Business analysis refers to the stage of the new-product development process

Accepted Answer

A) where the target markets are selected and resources are allocated to reach them. 
B) where the target market segments that show potential are selected and those that do not are eliminated. 
C) that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections. 
D) where there is a formal accounting of all monies spent on R&D to determine the return on investment (ROI) that the new product will give back to the firm. 
E) that internally and externally evaluates new-product ideas to eliminate those warranting no further effort. 
A) where the target markets are selected and resources are allocated to reach them. 
B) where the target market segments that show potential are selected and those that do not are eliminated. 
C) that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections. 
D) where there is a formal accounting of all monies spent on R&D to determine the return on investment (ROI) that the new product will give back to the firm. 
E) that internally and externally evaluates new-product ideas to eliminate those warranting no further effort.

Question 19

The __________ stage of the new-product process includes an examination of the technical feasibility for the product, such as 3M determining that the firm's micro-replication technology (the 3,000 tiny gripping fingers) could be used to improve the gripping power of batting or work gloves.

Accepted Answer

A) development 
B) Stage-Gate 
C) idea generation 
D) business analysis 
E) screening and evaluation 
A) development 
B) Stage-Gate 
C) idea generation 
D) business analysis 
E) screening and evaluation

Question 20

Products such as tools and repair services that are used to assist in producing other products and services are referred to as

Accepted Answer

A) components. 
B) complementary products. 
C) support products. 
D) derived products. 
E) materials. 
A) components. 
B) complementary products. 
C) support products. 
D) derived products. 
E) materials.

Exam 10: Developing New Products and Services

Accessory equipment are support products that include items such as

Product mix refers to

During which stage of the new-product process are audiences allowed to preview actual movies (a sneak preview) <including examples dates the question> so that changes might be made before they are released to the general public?

The stage of the new-product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort is referred to as

In addition to seeking ideas from more well-known sources, organizations also get ideas from universities, inventors, and smaller nontraditional firms. For example, General Mills partnered with Brigham Young University to license its patent for

Products organizations buy that assist in providing other products for resale are referred to as

An important aspect of the screening and evaluation stage of the new-product process is an examination of the technical feasibility for the product. For example, 3M was able to use the firm's micro-replication technology (the 3,000 tiny fingers) to

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as a thesaurus) that a prospective buyer may not initially want. This type of consumer service is referred to as

Product refers to

Cars and appliances are classified as

Among consumer products, advertising is especially important for

How can a firm use a test market in its new-product development process?

Which of the following statements regarding goods is most accurate?

Business researchers emphasize that firms must actively involve customers and suppliers in the new-product development process. This means that the focus should be on what the new product will __________ rather than simply what they want.

In marketing, __________ is a thought that leads to a product or action.

Among business products, which of the following would most likely be considered accessory equipment?

Business analysis refers to the stage of the new-product development process

The __________ stage of the new-product process includes an examination of the technical feasibility for the product, such as 3M determining that the firm's micro-replication technology (the 3,000 tiny gripping fingers) could be used to improve the gripping power of batting or work gloves.

Products such as tools and repair services that are used to assist in producing other products and services are referred to as

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable Marketing

Understanding Consumer Behavior

Understanding Organizations As Customers

Understanding and Reaching Global Consumers and Markets

Marketing Research: From Customer Insights to Actions

Market Segmentation Targeting and Positioning

Managing Successful Products Services and Brands

Services Marketing

Building the Price Foundation

Arriving at the Final Price

Managing Marketing Channels and Supply Chains

Retailing and Wholesaling

Integrated Marketing Communications and Direct Marketing

Advertising Sales Promotion and Public Relations

Using Social Media and Mobile Marketing to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Financial Aspects of Marketing

Building an Effective Marketing Plan

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