Question 1

An external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product is referred to as

Accepted Answer

A) new-product strategy development. 
B) idea generation. 
C) crowdsourcing. 
D) market testing. 
E) a concept test. 
A) new-product strategy development. 
B) idea generation. 
C) crowdsourcing. 
D) market testing. 
E) a concept test.

Question 2

In marketing, an idea is

Accepted Answer

A) a thought that leads to a product or action. 
B) an inspiration that evolved from market research. 
C) an observation about a series of events. 
D) a concept explaining the behavior of an individual or group. 
E) an observation about an individual or group and how they use a service or product. 
A) a thought that leads to a product or action. 
B) an inspiration that evolved from market research. 
C) an observation about a series of events. 
D) a concept explaining the behavior of an individual or group. 
E) an observation about an individual or group and how they use a service or product.

Question 3

The stage of the new-product development process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections is referred to as

Accepted Answer

A) idea generation. 
B) business analysis. 
C) marketing analysis. 
D) product development. 
E) commercialization. 
A) idea generation. 
B) business analysis. 
C) marketing analysis. 
D) product development. 
E) commercialization.

Question 4

In terms of promotion, which of the following type of consumer product stresses product differentiation from competitors?

Accepted Answer

A) shopping product 
B) convenience product 
C) specialty product 
D) unsought product 
E) discretionary product 
A) shopping product 
B) convenience product 
C) specialty product 
D) unsought product 
E) discretionary product

Question 5

The type of business products known as support products includes installations, supplies, accessory equipment, and

Accepted Answer

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

Question 6

Business products are also referred to as

Accepted Answer

A) commodities. 
B) industrial products. 
C) wares. 
D) resale products. 
E) merchandise. 
A) commodities. 
B) industrial products. 
C) wares. 
D) resale products. 
E) merchandise.

Question 7

All of the following actions occur during the business analysis stage of the new-product development process except

Accepted Answer

A) using capacity management to find ways to match the availability of the service offering to when it is needed. 
B) assessing the marketing and product synergies related to the company's existing operations. 
C) turning the idea on paper into a prototype. 
D) determining whether the new product can be protected with a patent or copyright. 
E) assessing whether the proposed new product fits with the company's mission and objectives. 
A) using capacity management to find ways to match the availability of the service offering to when it is needed. 
B) assessing the marketing and product synergies related to the company's existing operations. 
C) turning the idea on paper into a prototype. 
D) determining whether the new product can be protected with a patent or copyright. 
E) assessing whether the proposed new product fits with the company's mission and objectives.

Question 8

A few years ago, Frito-Lay developed Frito-Lay Lemonade as a thirst-quencher for those consumers who also like Frito-Lay's salty snacks such as Fritos Corn Chips. But when people think of the brand name Frito-Lay, thirst-quenching is not a benefit that comes to mind and Frito-Lay Lemonade failed. This innovation strategy is known as a

Accepted Answer

A) brand extension. 
B) radical invention. 
C) product line extension. 
D) disruptive innovation. 
E) product deletion. 
A) brand extension. 
B) radical invention. 
C) product line extension. 
D) disruptive innovation. 
E) product deletion.

Question 9

Because early-stage financing is almost always a problem for those starting a new business, __________ is a way to gather an online community of supporters to financially rally around a specific project that is unlikely to get resources from traditional sources.

Accepted Answer

A) crowdfunding 
B) open sourcing 
C) venture capital 
D) online banking 
E) crowdsourcing 
A) crowdfunding 
B) open sourcing 
C) venture capital 
D) online banking 
E) crowdsourcing

Question 10

Feature bloat is

Accepted Answer

A) an exaggeration of a product's performance capabilities. 
B) the overcharging in price for a minor product enhancement. 
C) the requirement of having consumers learn new behaviors with a continuous innovation. 
D) an excessive number of product attributes that overwhelms consumers with unnecessary complexity. 
E) the increase in package size when adding more content or making it larger (the mega phenomenon). 
A) an exaggeration of a product's performance capabilities. 
B) the overcharging in price for a minor product enhancement. 
C) the requirement of having consumers learn new behaviors with a continuous innovation. 
D) an excessive number of product attributes that overwhelms consumers with unnecessary complexity. 
E) the increase in package size when adding more content or making it larger (the mega phenomenon).

Question 11

In which stage of the new-product development process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?

Accepted Answer

A) idea generation 
B) screening and evaluation 
C) new-product strategy development 
D) business analysis 
E) development 
A) idea generation 
B) screening and evaluation 
C) new-product strategy development 
D) business analysis 
E) development

Question 12

The late Steve Jobs orchestrated innovations that revolutionized five different industries. Which industry below is not one of them?

Accepted Answer

A) music 
B) smartphones 
C) personal computers 
D) cable television 
E) tablet computing 
A) music 
B) smartphones 
C) personal computers 
D) cable television 
E) tablet computing

Question 13

There are seven stages of the new-product development process. Stage 2 is the __________ stage.

Accepted Answer

A) idea generation 
B) screening and evaluation 
C) screening and analysis 
D) new-product strategy development 
E) product assessment 
A) idea generation 
B) screening and evaluation 
C) screening and analysis 
D) new-product strategy development 
E) product assessment

Question 14

A product can be classified as new if it __________ from existing products.

Accepted Answer

A) is functionally different 
B) is different in color 
C) is different in its packaging 
D) is different in price 
E) requires a different distribution channel 
A) is functionally different 
B) is different in color 
C) is different in its packaging 
D) is different in price 
E) requires a different distribution channel

Question 15

Which of the products listed below would be the best candidate for full-scale market testing?

Accepted Answer

A) totally free checking account from Bank One 
B) household frequent flyer program from Delta Airlines 
C) mid-priced luxury sedan made in America by Mazda 
D) new iced coffee beverage from Starbucks 
E) slimmer iMac computer 
A) totally free checking account from Bank One 
B) household frequent flyer program from Delta Airlines 
C) mid-priced luxury sedan made in America by Mazda 
D) new iced coffee beverage from Starbucks 
E) slimmer iMac computer

Question 16

Explain the difference between consumer products and business products. Why are some products difficult to categorize as one or the other? Give an example of a business product, a consumer product, and a product that is difficult to categorize.

Accepted Answer

Consumer products are products purchased

Question 17

_____________ are items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.

Accepted Answer

A) Shopping products 
B) Convenience products 
C) Specialty products 
D) Prestige products 
E) Unsought products 
A) Shopping products 
B) Convenience products 
C) Specialty products 
D) Prestige products 
E) Unsought products

Question 18

Define derived demand and provide an example not included in the text.

Accepted Answer

A major characteristic of business produ

Exam 10: Developing New Products and Services

An external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product is referred to as

In marketing, an idea is

The stage of the new-product development process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections is referred to as

In terms of promotion, which of the following type of consumer product stresses product differentiation from competitors?

The type of business products known as support products includes installations, supplies, accessory equipment, and

Business products are also referred to as

All of the following actions occur during the business analysis stage of the new-product development process except

Because early-stage financing is almost always a problem for those starting a new business, __________ is a way to gather an online community of supporters to financially rally around a specific project that is unlikely to get resources from traditional sources.

Feature bloat is

In which stage of the new-product development process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?

The late Steve Jobs orchestrated innovations that revolutionized five different industries. Which industry below is not one of them?

There are seven stages of the new-product development process. Stage 2 is the __________ stage.

A product can be classified as new if it __________ from existing products.

Which of the products listed below would be the best candidate for full-scale market testing?

Explain the difference between consumer products and business products. Why are some products difficult to categorize as one or the other? Give an example of a business product, a consumer product, and a product that is difficult to categorize.

_____________ are items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.

Define derived demand and provide an example not included in the text.

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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