Question 1

Secondary demand is:

Accepted Answer

A)  Demand for a particular vendor's offering 
B)  Demand for truly innovative products 
C)  Derived from consumer demand 
D)  Demand derived from government purchases 
E)  Affected by derived demand 
A)  Demand for a particular vendor's offering 
B)  Demand for truly innovative products 
C)  Derived from consumer demand 
D)  Demand derived from government purchases 
E)  Affected by derived demand A

Question 2

Whenever a firm introduces a new product,it is taking a(n):

Accepted Answer

A)  Market risk 
B)  Investment risk 
C)  Product risk 
D)  Opportunity risk 
E)  Commodity risk 
A)  Market risk 
B)  Investment risk 
C)  Product risk 
D)  Opportunity risk 
E)  Commodity risk B

Question 3

Which of the following is the most important factor in screening and preliminary investigation?

Accepted Answer

A)  Ability to manufacture and service the product 
B)  Ability to serve customers' needs 
C)  Market potential 
D)  Competitive advantage gained with the product 
E)  Consistency with corporate objectives 
A)  Ability to manufacture and service the product 
B)  Ability to serve customers' needs 
C)  Market potential 
D)  Competitive advantage gained with the product 
E)  Consistency with corporate objectives E

Question 4

All of the following statements about new products are true EXCEPT:

Accepted Answer

A)  More than one-third of all new products fail 
B)  Old products are being withdrawn from the market at an increasingly rapid rate 
C)  The key to successful products is solid planning 
D)  The risk associated with new product development has been drastically reduced 
E)  New products may mean the difference between profit and loss for a firm 
A)  More than one-third of all new products fail 
B)  Old products are being withdrawn from the market at an increasingly rapid rate 
C)  The key to successful products is solid planning 
D)  The risk associated with new product development has been drastically reduced 
E)  New products may mean the difference between profit and loss for a firm

Question 5

When there is integration and market orientation,customer insight is more readily accessible to product designers.

Accepted Answer

A) True 
 B)False

Question 6

All of the following are prime causes of new product failure EXCEPT:

Accepted Answer

A)  Failure to use beta testing 
B)  Lack of marketing orientation 
C)  Poor coordination 
D)  Failure to have a technological advantage 
E)  Failure to use a technological advantage 
A)  Failure to use beta testing 
B)  Lack of marketing orientation 
C)  Poor coordination 
D)  Failure to have a technological advantage 
E)  Failure to use a technological advantage

Question 7

A single product launch can mean the difference between profit and loss for many companies.

Accepted Answer

A) True 
 B)False

Question 8

There is a high probability of a product being leapfrogged when:

Accepted Answer

A)  The product which fails in one market finds new life in another 
B)  The product falls out of favor in one market 
C)  A competitor brings out a product that is at least one step better technologically 
D)  The product does not make it to the maturity stage of the PLC 
E)  Sales of products decline and they are removed from the market 
A)  The product which fails in one market finds new life in another 
B)  The product falls out of favor in one market 
C)  A competitor brings out a product that is at least one step better technologically 
D)  The product does not make it to the maturity stage of the PLC 
E)  Sales of products decline and they are removed from the market

Question 9

Rapid advances in technology have resulted in significantly longer product life cycles.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following BCG product categories require large investments to maintain their rapid growth in a market already largely dominated by the firm?

Accepted Answer

A)  Dogs 
B)  Cash cows 
C)  Stars 
D)  Question marks 
E)  Category killers 
A)  Dogs 
B)  Cash cows 
C)  Stars 
D)  Question marks 
E)  Category killers

Question 11

Sometimes,simple changes in product design can have a major impact on product cost.

Accepted Answer

A) True 
 B)False

Question 12

Consumers who develop their own solutions to problems using available technology in a new or innovative way are:

Accepted Answer

A)  Desk jobbers 
B)  Laggards 
C)  Lead users 
D)  Innovators 
E)  Early adopters 
A)  Desk jobbers 
B)  Laggards 
C)  Lead users 
D)  Innovators 
E)  Early adopters

Question 13

Innovative firms tend to focus on investment risk.

Accepted Answer

A) True 
 B)False

Question 14

The concept of involving suppliers early in the product design process is:

Accepted Answer

A)  EOQ 
B)  JIT 
C)  EDI 
D)  ESI 
E)  SRM 
A)  EOQ 
B)  JIT 
C)  EDI 
D)  ESI 
E)  SRM

Question 15

Question marks:

Accepted Answer

A)  Require a great deal of investment, using cash generated from cash cows 
B)  Are those products with low share in a poor market 
C)  Have high market share and strength in a steady market 
D)  Are those products that should contribute the most to the company's profit 
E)  Are those products that are usually thought to be in the decline stage of their life 
A)  Require a great deal of investment, using cash generated from cash cows 
B)  Are those products with low share in a poor market 
C)  Have high market share and strength in a steady market 
D)  Are those products that should contribute the most to the company's profit 
E)  Are those products that are usually thought to be in the decline stage of their life

Question 16

Which of the following statements about lead users is false?

Accepted Answer

A)  Lead users are the first to manufacture and service products 
B)  They possess important insight into the evolution of their needs and the needs of customers similar to them 
C)  Lead users are able to generate solutions to needs independently of manufacturers 
D)  Lead users are those users that have found solutions to problems before others in their industry 
E)  Strategically, lead users are accounts for which partnering relationships should be developed 
A)  Lead users are the first to manufacture and service products 
B)  They possess important insight into the evolution of their needs and the needs of customers similar to them 
C)  Lead users are able to generate solutions to needs independently of manufacturers 
D)  Lead users are those users that have found solutions to problems before others in their industry 
E)  Strategically, lead users are accounts for which partnering relationships should be developed

Question 17

What is the purpose of the product development step in the product development process?

Accepted Answer

A)  To introduce the product into the market 
B)  To test the product at the customer's location, to see if the product will work under real-world conditions 
C)  To develop and test a prototype of the product in the lab, based on the specifications developed in the previous step 
D)  To evaluate the product and adapt elements of the marketing program to fit changing market conditions 
E)  To develop detailed specifications of the product 
A)  To introduce the product into the market 
B)  To test the product at the customer's location, to see if the product will work under real-world conditions 
C)  To develop and test a prototype of the product in the lab, based on the specifications developed in the previous step 
D)  To evaluate the product and adapt elements of the marketing program to fit changing market conditions 
E)  To develop detailed specifications of the product

Question 18

In terms of the QFD,the process characteristics step:

Accepted Answer

A)  Can assess the performance of products 
B)  Implements the processes for monitoring the actual production process 
C)  Plans production of the product 
D)  Is completed with the aid of suppliers 
E)  Examines the manufacturing process 
A)  Can assess the performance of products 
B)  Implements the processes for monitoring the actual production process 
C)  Plans production of the product 
D)  Is completed with the aid of suppliers 
E)  Examines the manufacturing process

Question 19

Which of the following is not a step in the Galileo process of screening new ideas?

Accepted Answer

A)  Questions 
B)  Beta testing 
C)  A rating system 
D)  A generic evaluation model 
E)  Templates 
A)  Questions 
B)  Beta testing 
C)  A rating system 
D)  A generic evaluation model 
E)  Templates

Question 20

Cutting low-gross-margin products from the line takes place in which stage of the product life cycle?

Accepted Answer

A)  Growth 
B)  Introduction 
C)  Development 
D)  Decline 
E)  Maturity 
A)  Growth 
B)  Introduction 
C)  Development 
D)  Decline 
E)  Maturity

Secondary demand is:

Whenever a firm introduces a new product,it is taking a(n):

Which of the following is the most important factor in screening and preliminary investigation?

All of the following statements about new products are true EXCEPT:

When there is integration and market orientation,customer insight is more readily accessible to product designers.

All of the following are prime causes of new product failure EXCEPT:

A single product launch can mean the difference between profit and loss for many companies.

There is a high probability of a product being leapfrogged when:

Rapid advances in technology have resulted in significantly longer product life cycles.

Which of the following BCG product categories require large investments to maintain their rapid growth in a market already largely dominated by the firm?

Sometimes,simple changes in product design can have a major impact on product cost.

Consumers who develop their own solutions to problems using available technology in a new or innovative way are:

Innovative firms tend to focus on investment risk.

The concept of involving suppliers early in the product design process is:

Question marks:

Which of the following statements about lead users is false?

What is the purpose of the product development step in the product development process?

In terms of the QFD,the process characteristics step:

Which of the following is not a step in the Galileo process of screening new ideas?

Cutting low-gross-margin products from the line takes place in which stage of the product life cycle?

Introduction to Business Marketing

The Character of Business Marketing

The Purchasing Function

Organizational Buyer Behavior

Market Opportunities: Current and Potential

Marketing Strategy

Weaving Marketing Into the Fabric of the Firm

Business Marketing Channels: Partnerships for...

Creating Customer Dialogue

Communicating Via Advertising, trade Shows and PR

The One to One Media

Sales and Sales Management

Pricing and Negotiating for Value

Evaluating Marketing Efforts

Customer Retention and Maximization

Filters

Exam 8: Developing and Managing Offerings: What Do Customers

Secondary demand is:

Whenever a firm introduces a new product,it is taking a(n):

Which of the following is the most important factor in screening and preliminary investigation?

All of the following statements about new products are true EXCEPT:

When there is integration and market orientation,customer insight is more readily accessible to product designers.

All of the following are prime causes of new product failure EXCEPT:

A single product launch can mean the difference between profit and loss for many companies.

There is a high probability of a product being leapfrogged when:

Rapid advances in technology have resulted in significantly longer product life cycles.

Which of the following BCG product categories require large investments to maintain their rapid growth in a market already largely dominated by the firm?

Sometimes,simple changes in product design can have a major impact on product cost.

Consumers who develop their own solutions to problems using available technology in a new or innovative way are:

Innovative firms tend to focus on investment risk.

The concept of involving suppliers early in the product design process is:

Question marks:

Which of the following statements about lead users is false?

What is the purpose of the product development step in the product development process?

In terms of the QFD,the process characteristics step:

Which of the following is not a step in the Galileo process of screening new ideas?

Cutting low-gross-margin products from the line takes place in which stage of the product life cycle?

Introduction to Business Marketing

The Character of Business Marketing

The Purchasing Function

Organizational Buyer Behavior

Market Opportunities: Current and Potential

Marketing Strategy

Weaving Marketing Into the Fabric of the Firm

Business Marketing Channels: Partnerships for...

Creating Customer Dialogue

Communicating Via Advertising, trade Shows and PR

The One to One Media

Sales and Sales Management

Pricing and Negotiating for Value

Evaluating Marketing Efforts

Customer Retention and Maximization

Filters