Question 1

Which of the following firms uses crowdfunding to raise capital for products that are unlikely to get resources from traditional sources?

Accepted Answer

A)  IDEO 
B)  Kickstarter.com 
C)  Warren Buffet's Berkshire Hathaway 
D)  the Industrial Design Group 
E)  Unfundable.com 
A)  IDEO 
B)  Kickstarter.com 
C)  Warren Buffet's Berkshire Hathaway 
D)  the Industrial Design Group 
E)  Unfundable.com

Question 2

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 3

Parallel development,involving the simultaneous development of both the product and the production process,is the responsibility of

Accepted Answer

A)  cross-functional teams. 
B)  the marketing department. 
C)  research and development engineers. 
D)  product managers. 
E)  top management. 
A)  cross-functional teams. 
B)  the marketing department. 
C)  research and development engineers. 
D)  product managers. 
E)  top management.

Question 4

Before a new product or service is developed,a firm should have a precise protocol,a statement that identifies which of the following?

Accepted Answer

A)  a clear plan for product distribution 
B)  an analysis of potential competitors' products 
C)  a precise budget of how much can be spent for the marketing program 
D)  specific customers' needs, wants, and preferences 
E)  clear financial goals and expectations 
A)  a clear plan for product distribution 
B)  an analysis of potential competitors' products 
C)  a precise budget of how much can be spent for the marketing program 
D)  specific customers' needs, wants, and preferences 
E)  clear financial goals and expectations

Question 5

What are the four types of consumer products?
 How do they differ?

Accepted Answer

Convenience products,shopping products,s

Question 6

Installations are support products that include items such as

Accepted Answer

A)  copy paper, mechanical pencils, and lightbulbs. 
B)  welding masks and computers. 
C)  warehouses and automated assembly lines. 
D)  lumber and engine parts. 
E)  janitorial and legal services. 
A)  copy paper, mechanical pencils, and lightbulbs. 
B)  welding masks and computers. 
C)  warehouses and automated assembly lines. 
D)  lumber and engine parts. 
E)  janitorial and legal services.

Question 7

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

Accepted Answer

A)  auto lift 
B)  cotton fiber 
C)  printing press 
D)  suitcase 
E)  bricks 
A)  auto lift 
B)  cotton fiber 
C)  printing press 
D)  suitcase 
E)  bricks

Question 8

How a person establishes expectations for a service not yet experienced is influenced by which of the following?

Accepted Answer

A)  the economy 
B)  consumer income 
C)  word-of-mouth communications 
D)  competitive trends 
E)  how the organization delivers its service 
A)  the economy 
B)  consumer income 
C)  word-of-mouth communications 
D)  competitive trends 
E)  how the organization delivers its service

Question 9

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

Accepted Answer

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

Question 10

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

Accepted Answer

A)  a radical invention 
B)  a brand extension 
C)  a product line extension 
D)  a jump in innovation 
E)  a product refinancing 
A)  a radical invention 
B)  a brand extension 
C)  a product line extension 
D)  a jump in innovation 
E)  a product refinancing

Question 11

Commercialization refers to

Accepted Answer

A)  the point at which a new product has diffused throughout the marketplace. 
B)  the introduction of an offering to sequential geographic areas of the United States. 
C)  exposing actual products to prospective consumers under realistic purchase conditions. 
D)  the stage of the new-product process that positions and launches a new product in full-scale production and sales. 
E)  the point where new-product concepts are transformed into prototypes. 
A)  the point at which a new product has diffused throughout the marketplace. 
B)  the introduction of an offering to sequential geographic areas of the United States. 
C)  exposing actual products to prospective consumers under realistic purchase conditions. 
D)  the stage of the new-product process that positions and launches a new product in full-scale production and sales. 
E)  the point where new-product concepts are transformed into prototypes.

Question 12

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

Accepted Answer

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

Question 13

All of the following are sources for new-product ideas except which?

Accepted Answer

A)  competitors 
B)  universities 
C)  regulators 
D)  suppliers 
E)  employees 
A)  competitors 
B)  universities 
C)  regulators 
D)  suppliers 
E)  employees

Question 14

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

Accepted Answer

A major characteristic of business produ

Question 15

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers.This was done on a limited scale to determine consumer reactions before national distribution of the product.At that time,Breyer's new product was in the __________ stage of the new-product process.

Accepted Answer

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

Question 16

Services can be classified by their method of delivery.Services such as management consulting,plumbing,and cleaning are considered

Accepted Answer

A)  equipment-based services. 
B)  technology-based services. 
C)  fee-based services. 
D)  people-based services. 
E)  nonprofit services. 
A)  equipment-based services. 
B)  technology-based services. 
C)  fee-based services. 
D)  people-based services. 
E)  nonprofit services.

Question 17

Characterize the difference between a product line and a product mix.Give an example of each.

Accepted Answer

A product line is a group of products or

Question 18

It is common now for laptops and tablets to utilize multitouch functions,such as "pinch to zoom," either on the screen interface or with the tracking mouse.When the multitouch interface was first introduced,it was an example of which type of innovation?

Accepted Answer

A)  continuous innovation 
B)  discontinuous innovation 
C)  disruptive innovation 
D)  dynamically continuous innovation 
E)  evolutionary innovation 
A)  continuous innovation 
B)  discontinuous innovation 
C)  disruptive innovation 
D)  dynamically continuous innovation 
E)  evolutionary innovation

Question 19

In terms of brand loyalty,consumers are very brand loyal and will not accept substitutes for which type of consumer product?

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 20

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.

Which of the following firms uses crowdfunding to raise capital for products that are unlikely to get resources from traditional sources?

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

Parallel development,involving the simultaneous development of both the product and the production process,is the responsibility of

Before a new product or service is developed,a firm should have a precise protocol,a statement that identifies which of the following?

What are the four types of consumer products? How do they differ?

Installations are support products that include items such as

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

How a person establishes expectations for a service not yet experienced is influenced by which of the following?

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

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

Commercialization refers to

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

All of the following are sources for new-product ideas except which?

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

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers.This was done on a limited scale to determine consumer reactions before national distribution of the product.At that time,Breyer's new product was in the __________ stage of the new-product process.

Services can be classified by their method of delivery.Services such as management consulting,plumbing,and cleaning are considered

Characterize the difference between a product line and a product mix.Give an example of each.

It is common now for laptops and tablets to utilize multitouch functions,such as "pinch to zoom," either on the screen interface or with the tracking mouse.When the multitouch interface was first introduced,it was an example of which type of innovation?

In terms of brand loyalty,consumers are very brand loyal and will not accept substitutes for which type of consumer product?

Which of the following statements regarding goods is most accurate?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

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

Pricing Products and Services

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

Building an Effective Marketing Plan

Filters

Exam 9: Developing New Products and Services

Which of the following firms uses crowdfunding to raise capital for products that are unlikely to get resources from traditional sources?

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

Parallel development,involving the simultaneous development of both the product and the production process,is the responsibility of

Before a new product or service is developed,a firm should have a precise protocol,a statement that identifies which of the following?

What are the four types of consumer products? How do they differ?

Installations are support products that include items such as

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

How a person establishes expectations for a service not yet experienced is influenced by which of the following?

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

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

Commercialization refers to

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

All of the following are sources for new-product ideas except which?

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

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers.This was done on a limited scale to determine consumer reactions before national distribution of the product.At that time,Breyer's new product was in the __________ stage of the new-product process.

Services can be classified by their method of delivery.Services such as management consulting,plumbing,and cleaning are considered

Characterize the difference between a product line and a product mix.Give an example of each.

It is common now for laptops and tablets to utilize multitouch functions,such as "pinch to zoom," either on the screen interface or with the tracking mouse.When the multitouch interface was first introduced,it was an example of which type of innovation?

In terms of brand loyalty,consumers are very brand loyal and will not accept substitutes for which type of consumer product?

Which of the following statements regarding goods is most accurate?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Understanding the Marketing Environment,ethical Behavior,and Social Responsibility

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

Pricing Products and Services

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

Building an Effective Marketing Plan

Filters