Exam 10: Developing New Products and Services

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 is referred to as

A product line is a group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, __________, or fall within a given price range.

Vivienne, a college student with limited financial resources, was considering the purchase of a new automobile. She went from car dealer to car dealer in several different cities searching for the lowest price on a new economy car. She devoted a great deal of time and energy to getting the best value for her money. For Vivienne, an automobile was

Which of the following is most likely to be an example of an unsought product?

A statement that identifies a well-defined target market; specific customers' needs, wants, and preferences; and what the product will be and do to satisfy consumers is referred to as a new product's or service's

The Federal Trade Commission (FTC) considers a product new only

Using an existing brand name to introduce a product that is new to the company into a totally new, unfamiliar market seems like a good idea. Several years ago, Harley-Davidson introduced perfume under the Harley-Davidson brand name and it failed quickly. This innovation strategy is known as a

According to Robert Stephens of the Geek Squad, the biggest complaint about technical support people is

Until 1996, U.S. carmakers sent very few right-hand-drive cars to Japan while German carmakers exported several models with the steering wheel on the right to accommodate driving on the left-hand side of the road in Japan. American car manufacturers could blame their failure to a great degree on

Which of the following would most likely be considered a consumer product?

X-1 performs all of the following activities during the development stage of its new-product process except

Which of the following best illustrates the concept of derived demand?

Among business products, which of the following would most likely be considered an industrial service?

Services can be classified according to whether they are __________, business firms or nonprofit organizations, or government agencies.

The division of products into durable and nondurable goods helps to

From an organization's perspective regarding its new products and innovations, which of the following new-product strategies has the lowest level of risk?

An extremely large machine for producing sheet metal from steel ingots would be classified as which kind of business product?

Among business products, printer paper would be classified as which type of support product?

Marketing dashboards are useful in measuring actual market performance versus the goals set in new-product planning, such as sales. Once shortfalls are identified, the first step would be to conduct market research to determine

Concept tests are part of which stage in the new-product development process?