Question 1

Explain what an unsought product is and give some examples.

Accepted Answer

An unsought product is an item that the

Question 2

Which of the following methods is commonly used in software development to speed up the development process?

Accepted Answer

A)  expedited time to market 
B)  fast prototyping 
C)  parallel development 
D)  controlled test marketing 
E)  concept testing 
A)  expedited time to market 
B)  fast prototyping 
C)  parallel development 
D)  controlled test marketing 
E)  concept testing

Question 3

Marketing Dashboard Map  
-There are seven stages of the new-product development process.The last stage is

Accepted Answer

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

Question 4

The three categories for equipment-based services are

Accepted Answer

A)  unskilled labor, those operated by relatively unskilled operators, and automated (self-serve). 
B)  professionals, those operated by relatively unskilled operators, and automated (self-serve). 
C)  automated (self-serve), those operated by relatively unskilled operators, and those operated by skilled operators. 
D)  unskilled labor, skilled labor, and professionals. 
E)  those operated by skilled operators, unskilled labor, and professionals. 
A)  unskilled labor, those operated by relatively unskilled operators, and automated (self-serve). 
B)  professionals, those operated by relatively unskilled operators, and automated (self-serve). 
C)  automated (self-serve), those operated by relatively unskilled operators, and those operated by skilled operators. 
D)  unskilled labor, skilled labor, and professionals. 
E)  those operated by skilled operators, unskilled labor, and professionals.

Question 5

__________ are items that become part of the final business product.

Accepted Answer

A)  Components 
B)  Accessories 
C)  Support products 
D)  Production goods 
E)  Raw assemblies 
A)  Components 
B)  Accessories 
C)  Support products 
D)  Production goods 
E)  Raw assemblies

Question 6

What do a security guard,a plumber,and a management consultant have in common?

Accepted Answer

A)  They are all tangible services. 
B)  They do not have problems with idle production capacity. 
C)  They are all equipment-based services. 
D)  They are all people-based services. 
E)  They never use off-peak pricing. 
A)  They are all tangible services. 
B)  They do not have problems with idle production capacity. 
C)  They are all equipment-based services. 
D)  They are all people-based services. 
E)  They never use off-peak pricing.

Question 7

Unsought products are

Accepted Answer

A)  any products associated with impulse buys at the supermarket checkout counter. 
B)  products that were once very popular but that have become obsolete because they are in the decline stage of their product life cycle. 
C)  items within a company's product line that do not perform as well as others in the line. 
D)  products that the consumer does not know about or knows about but does not initially want. 
E)  products that people choose to ignore because they find them offensive from a moral or ethical perspective. 
A)  any products associated with impulse buys at the supermarket checkout counter. 
B)  products that were once very popular but that have become obsolete because they are in the decline stage of their product life cycle. 
C)  items within a company's product line that do not perform as well as others in the line. 
D)  products that the consumer does not know about or knows about but does not initially want. 
E)  products that people choose to ignore because they find them offensive from a moral or ethical perspective.

Question 8

Dell used __________ to develop an online site to generate 13,464 ideas for new products as well as website and marketing improvements.

Accepted Answer

A)  brainstorming 
B)  crowdsourcing 
C)  group think 
D)  outsourcing 
E)  data mining 
A)  brainstorming 
B)  crowdsourcing 
C)  group think 
D)  outsourcing 
E)  data mining

Question 9

Consumer products are classified into four categories based on the effort the consumer spends on the decision,the attributes used in making the purchase decision,and the

Accepted Answer

A)  amount of money the customer is willing and able to spend. 
B)  number of competing or substitute products. 
C)  demographics of the consumer. 
D)  frequency of purchase. 
E)  consumer segmentation characteristics. 
A)  amount of money the customer is willing and able to spend. 
B)  number of competing or substitute products. 
C)  demographics of the consumer. 
D)  frequency of purchase. 
E)  consumer segmentation characteristics.

Question 10

A retail chain hires a company to design and install a computer network that would allow each store in the chain to check the inventory of others in the chain for customer-requested items.The retail chain purchased which kind of business products?

Accepted Answer

A)  accessory equipment 
B)  industrial services 
C)  supply materials 
D)  component parts 
E)  installations 
A)  accessory equipment 
B)  industrial services 
C)  supply materials 
D)  component parts 
E)  installations

Question 11

Consumers have more difficulty evaluating services than they do products; the difficulty results from the

Accepted Answer

A)  intangibility of services. 
B)  incongruity of services. 
C)  inseparability of services. 
D)  inflexibility of services. 
E)  interdependence of services. 
A)  intangibility of services. 
B)  incongruity of services. 
C)  inseparability of services. 
D)  inflexibility of services. 
E)  interdependence of services.

Question 12

In terms of promotion,which of the following consumer product types stresses status and brand uniqueness?

Accepted Answer

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

Question 13

The inventory costs for airlines is high because they

Accepted Answer

A)  use a straight salary compensation plan for the large numbers of flight attendants. 
B)  have high-salaried pilots and very expensive equipment. 
C)  allow baggage personnel to work overtime. 
D)  decrease the number of workdays per week, but increase the hours per day. 
E)  use a commission compensation system for their reservationists. 
A)  use a straight salary compensation plan for the large numbers of flight attendants. 
B)  have high-salaried pilots and very expensive equipment. 
C)  allow baggage personnel to work overtime. 
D)  decrease the number of workdays per week, but increase the hours per day. 
E)  use a commission compensation system for their reservationists.

Question 14

The emphasis of a marketing strategy for a dynamically continuous innovation would include

Accepted Answer

A)  advertising to generate awareness. 
B)  obtaining widespread distribution. 
C)  advertising to explain points of difference and benefits. 
D)  setting a low price. 
E)  using personal selling. 
A)  advertising to generate awareness. 
B)  obtaining widespread distribution. 
C)  advertising to explain points of difference and benefits. 
D)  setting a low price. 
E)  using personal selling.

Question 15

Supplies 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 16

Market testing refers to

Accepted Answer

A)  exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy. 
B)  making sales and profit projections on prototype products to make go-no-go decisions. 
C)  conducting marketing research among a sample of consumers in the target market to determine which version of a new-product concept is deemed the best. 
D)  independently run comparison tests with similar products currently in the marketplace to determine which one performs best. 
E)  conducting safety tests to determine whether the new product meets the established requirements when it isn't used as planned. 
A)  exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy. 
B)  making sales and profit projections on prototype products to make go-no-go decisions. 
C)  conducting marketing research among a sample of consumers in the target market to determine which version of a new-product concept is deemed the best. 
D)  independently run comparison tests with similar products currently in the marketplace to determine which one performs best. 
E)  conducting safety tests to determine whether the new product meets the established requirements when it isn't used as planned.

Question 17

Which of the following is the best example of a convenience product?

Accepted Answer

A)  Kindle Fire 
B)  Lexus LS 460 luxury automobile 
C)  flight on United Airlines 
D)  Roget's Thesaurus 
E)  Hidden Valley Ranch salad dressing 
A)  Kindle Fire 
B)  Lexus LS 460 luxury automobile 
C)  flight on United Airlines 
D)  Roget's Thesaurus 
E)  Hidden Valley Ranch salad dressing

Question 18

The Vermont Teddy Bear Co.sells handmade teddy bears designed to be given as gifts for almost every occasion imaginable.The Love Bandit Bear is designed for people to give on Valentine's Day.The unique identification number that the Vermont Teddy Bear Co.uses to distinguish this teddy bear from the others in order to track it in the warehouse is called

Accepted Answer

A)  a stock ID code. 
B)  a QR code. 
C)  an NAICS stock code. 
D)  an order quantity code. 
E)  a stock keeping unit. 
A)  a stock ID code. 
B)  a QR code. 
C)  an NAICS stock code. 
D)  an order quantity code. 
E)  a stock keeping unit.

Question 19

During the first stage of the new-product development process,two important activities take place.They are

Accepted Answer

A)  a SWOT analysis and environmental scanning. 
B)  open innovation and business analysis. 
C)  concept testing and product forecasting. 
D)  R&D and operations setup. 
E)  environmental scanning and open innovation. 
A)  a SWOT analysis and environmental scanning. 
B)  open innovation and business analysis. 
C)  concept testing and product forecasting. 
D)  R&D and operations setup. 
E)  environmental scanning and open innovation.

Question 20

Explain the differences in promotion between convenience,shopping,specialty,and unsought products.

Accepted Answer

Promotion for convenience products would

Explain what an unsought product is and give some examples.

Which of the following methods is commonly used in software development to speed up the development process?

Marketing Dashboard Map -There are seven stages of the new-product development process.The last stage is

The three categories for equipment-based services are

__________ are items that become part of the final business product.

What do a security guard,a plumber,and a management consultant have in common?

Unsought products are

Dell used __________ to develop an online site to generate 13,464 ideas for new products as well as website and marketing improvements.

Consumer products are classified into four categories based on the effort the consumer spends on the decision,the attributes used in making the purchase decision,and the

A retail chain hires a company to design and install a computer network that would allow each store in the chain to check the inventory of others in the chain for customer-requested items.The retail chain purchased which kind of business products?

Consumers have more difficulty evaluating services than they do products; the difficulty results from the

In terms of promotion,which of the following consumer product types stresses status and brand uniqueness?

The inventory costs for airlines is high because they

The emphasis of a marketing strategy for a dynamically continuous innovation would include

Supplies are support products that include items such as

Market testing refers to

Which of the following is the best example of a convenience product?

During the first stage of the new-product development process,two important activities take place.They are

Explain the differences in promotion between convenience,shopping,specialty,and unsought products.

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

Explain what an unsought product is and give some examples.

Which of the following methods is commonly used in software development to speed up the development process?

Marketing Dashboard Map -There are seven stages of the new-product development process.The last stage is

The three categories for equipment-based services are

__________ are items that become part of the final business product.

What do a security guard,a plumber,and a management consultant have in common?

Unsought products are

Dell used __________ to develop an online site to generate 13,464 ideas for new products as well as website and marketing improvements.

Consumer products are classified into four categories based on the effort the consumer spends on the decision,the attributes used in making the purchase decision,and the

A retail chain hires a company to design and install a computer network that would allow each store in the chain to check the inventory of others in the chain for customer-requested items.The retail chain purchased which kind of business products?

Consumers have more difficulty evaluating services than they do products; the difficulty results from the

In terms of promotion,which of the following consumer product types stresses status and brand uniqueness?

The inventory costs for airlines is high because they

The emphasis of a marketing strategy for a dynamically continuous innovation would include

Supplies are support products that include items such as

Market testing refers to

Which of the following is the best example of a convenience product?

During the first stage of the new-product development process,two important activities take place.They are

Explain the differences in promotion between convenience,shopping,specialty,and unsought products.

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