Question 1

With respect to distribution, shopping products are available

Accepted Answer

A) by special order from the manufacturer. 
B) at an extremely small number of outlets. 
C) at relatively few outlets. 
D) at a large number of selective outlets. 
E) on a widespread basis at many outlets. 
A) by special order from the manufacturer. 
B) at an extremely small number of outlets. 
C) at relatively few outlets. 
D) at a large number of selective outlets. 
E) on a widespread basis at many outlets.

Question 2

Considering the common classification of consumer products, which of the following products will have the most limited distribution?

Accepted Answer

A) Duncan Hines cake mixes 
B) Polaroid cameras 
C) Quaker State motor oil 
D) Rolex watches 
E) Sony stereos 
A) Duncan Hines cake mixes 
B) Polaroid cameras 
C) Quaker State motor oil 
D) Rolex watches 
E) Sony stereos

Question 3

A major reason for poorly conceived product getting into the marketplace and ultimately failing is marketing managers

Accepted Answer

A) are under too much pressure from top management and release products without the network of services to support the physical product. 
B) are kept out-of-the loop when it comes to the day-to-day operations of their departments. 
C) there is too much competition amongst managers from different divisions, so whoever gets to market first supposedly "wins." 
D) have too much authority and too little knowledge. 
E) have more than adequate formal educations (MBAs) but too little real world experience. 
A) are under too much pressure from top management and release products without the network of services to support the physical product. 
B) are kept out-of-the loop when it comes to the day-to-day operations of their departments. 
C) there is too much competition amongst managers from different divisions, so whoever gets to market first supposedly "wins." 
D) have too much authority and too little knowledge. 
E) have more than adequate formal educations (MBAs) but too little real world experience.

Question 4

Which of the following statements regarding goods is most accurate?

Accepted Answer

A) In order to be classified as a product, an item must appeal to all five senses. 
B) Music is not considered a product because it only involves a single sense-hearing. 
C) In addition to appealing to the senses, some products also have intangible attributes. 
D) To market a product that contains visual attributes you cannot use an auditory medium. 
E) The aroma of chocolate chip cookies is considered a product because it affects one's senses. 
A) In order to be classified as a product, an item must appeal to all five senses. 
B) Music is not considered a product because it only involves a single sense-hearing. 
C) In addition to appealing to the senses, some products also have intangible attributes. 
D) To market a product that contains visual attributes you cannot use an auditory medium. 
E) The aroma of chocolate chip cookies is considered a product because it affects one's senses.

Question 5

Business analysis refers to

Accepted Answer

A) the stage of the new product process where the target markets are selected and resources are allotted to reach them. 
B) the process of identifying market segments that show potential and eliminating those that do not. 
C) the stage of the new product process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections. 
D) a formal accounting of all monies spent and redistributing resources for the following fiscal year, accordingly. 
E) the stage of the new product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort. 
A) the stage of the new product process where the target markets are selected and resources are allotted to reach them. 
B) the process of identifying market segments that show potential and eliminating those that do not. 
C) the stage of the new product process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections. 
D) a formal accounting of all monies spent and redistributing resources for the following fiscal year, accordingly. 
E) the stage of the new product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort.

Question 6

Which of the following new products is the best example of the lowest level of risk from the company's point of view?

Accepted Answer

A) adding Banana Nut Cheerios in addition to traditional Cheerios 
B) moving from land-line telephones to cell phones 
C) marketing the MacBook Air 
D) changing the formula for Coca-Cola Classic 
E) offering on-line marketing classes 
A) adding Banana Nut Cheerios in addition to traditional Cheerios 
B) moving from land-line telephones to cell phones 
C) marketing the MacBook Air 
D) changing the formula for Coca-Cola Classic 
E) offering on-line marketing classes

Question 7

A discontinuous innovation is a product that

Accepted Answer

A) disrupts consumer's normal routine but does not require totally new learning. 
B) require no new learning by consumers. 
C) establishes new consumption patterns among consumers. 
D) initiates obsolescence of a product class. 
E) require consumers to learn entirely new patterns of behavior and product usage. 
A) disrupts consumer's normal routine but does not require totally new learning. 
B) require no new learning by consumers. 
C) establishes new consumption patterns among consumers. 
D) initiates obsolescence of a product class. 
E) require consumers to learn entirely new patterns of behavior and product usage.

Question 8

Advertising is important for products such as Butterfinger candy bars and Dasani bottled water that is purchased frequently and at relatively low cost.Wide distribution in retail outlets is essential.Why?

Accepted Answer

A) They are highly sought brand sensitive goods that one purchases from a wholesaler. 
B) They are unsought products, so advertising targets consumers' impulsiveness. 
C) They are nondurable goods and easily substitutable so consumers need to be reminded of their existence. 
D) They are shopping products and can easily go out of stock. 
E) They are semidurable goods, and advertising helps to maintain high inventories. 
A) They are highly sought brand sensitive goods that one purchases from a wholesaler. 
B) They are unsought products, so advertising targets consumers' impulsiveness. 
C) They are nondurable goods and easily substitutable so consumers need to be reminded of their existence. 
D) They are shopping products and can easily go out of stock. 
E) They are semidurable goods, and advertising helps to maintain high inventories.

Question 9

There are three levels of newness from the organization's perspective.These include line extension, a significant jump in innovation or technology, and true innovation.The category distinctions are based upon which factor?

Accepted Answer

A) potential profits 
B) potential market share 
C) potential risks 
D) environmental factors 
E) elements of the marketing mix 
A) potential profits 
B) potential market share 
C) potential risks 
D) environmental factors 
E) elements of the marketing mix

Question 10

With respect to price, which of the following types of consumer products would most likely be very expensive?

Accepted Answer

A) convenience products 
B) shopping product 
C) specialty products 
D) unsought products 
E) production goods 
A) convenience products 
B) shopping product 
C) specialty products 
D) unsought products 
E) production goods

Question 11

This company was rated by Fortune as the world's most admired company in 2009 and Business Week often rates it as the most innovative company in the world.

Accepted Answer

A) IBM 
B) Microsoft 
C) 3M 
D) Kodak 
E) Apple 
A) IBM 
B) Microsoft 
C) 3M 
D) Kodak 
E) Apple

Question 12

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

Accepted Answer

A) SWOT analysis and environmental scanning. 
B) concept testing and business analysis. 
C) concept testing and product forecasting. 
D) team development and SWOT analysis. 
E) environmental scanning and concept testing. 
A) SWOT analysis and environmental scanning. 
B) concept testing and business analysis. 
C) concept testing and product forecasting. 
D) team development and SWOT analysis. 
E) environmental scanning and concept testing.

Question 13

IDEO is a company that

Accepted Answer

A) creates products solely for electronic and technical markets. 
B) is highly formalized and research based. 
C) develops and designs new products for other organizations. 
D) determines the legal standing of products engaged in the business analysis stage of the new-product process. 
E) runs patent searches for companies' seeking to buy-out pre-existing patents that if purchased would enable them to produce new products at a significantly lower cost. 
A) creates products solely for electronic and technical markets. 
B) is highly formalized and research based. 
C) develops and designs new products for other organizations. 
D) determines the legal standing of products engaged in the business analysis stage of the new-product process. 
E) runs patent searches for companies' seeking to buy-out pre-existing patents that if purchased would enable them to produce new products at a significantly lower cost.

Question 14

How could a firm use a test market in their new-product development process?

Accepted Answer

Test marketing involves offering actual

Question 15

151 Product line refers to

Accepted Answer

A) a product and all complementary counterparts of that product that are used to create the greatest customer value. 
B) all products and product substitutions within an industry specified by a unique SIC code. 
C) the total number of units produced and sold by a single manufacturer. 
D) a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range. 
E) a product, all its predecessors, and future models of that product, created from the same basic prototype. 
A) a product and all complementary counterparts of that product that are used to create the greatest customer value. 
B) all products and product substitutions within an industry specified by a unique SIC code. 
C) the total number of units produced and sold by a single manufacturer. 
D) a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range. 
E) a product, all its predecessors, and future models of that product, created from the same basic prototype.

Question 16

Specialty product refer to

Accepted Answer

A) products for which there are no close substitutes. 
B) products purchased for their prestige or high perceived value. 
C) products a consumer will make a special effort to search out and buy. 
D) items for which the consumer compares several alternatives on several criteria such as price, quality, or style. 
E) items that the consumer does not know about or knows about but does not initially buy. 
A) products for which there are no close substitutes. 
B) products purchased for their prestige or high perceived value. 
C) products a consumer will make a special effort to search out and buy. 
D) items for which the consumer compares several alternatives on several criteria such as price, quality, or style. 
E) items that the consumer does not know about or knows about but does not initially buy.

Question 17

Support products that include tools and office equipment are referred to as

Accepted Answer

A) installations. 
B) supplies. 
C) raw materials. 
D) accessory equipment. 
E) components. 
A) installations. 
B) supplies. 
C) raw materials. 
D) accessory equipment. 
E) components.

Question 18

poor execution of the marketing mix, and (8 ) __________.

Accepted Answer

A) not satisfying customers on critical factors 
B) too little innovation 
C) government intervention 
D) too socially controversial 
E) the idea was just plain "dumb" 
A) not satisfying customers on critical factors 
B) too little innovation 
C) government intervention 
D) too socially controversial 
E) the idea was just plain "dumb"

Question 19

Which of the following statements regarding "product" is most accurate?

Accepted Answer

A) Nondurable goods would rely more on advertising while durable goods would benefit more from a personal selling strategy. 
B) Durable goods would benefit more on advertising while nondurable goods would benefit more from a personal selling strategy. 
C) There is little if any difference between marketing actions between durable and nondurable goods; the key difference occurs between shopping and specialty products. 
D) There is little if any difference between marketing actions between durable and nondurable goods; the key difference occurs between for profit and not for profit products and services. 
E) The durable and nondurable classification applies to services as well as to products. 
A) Nondurable goods would rely more on advertising while durable goods would benefit more from a personal selling strategy. 
B) Durable goods would benefit more on advertising while nondurable goods would benefit more from a personal selling strategy. 
C) There is little if any difference between marketing actions between durable and nondurable goods; the key difference occurs between shopping and specialty products. 
D) There is little if any difference between marketing actions between durable and nondurable goods; the key difference occurs between for profit and not for profit products and services. 
E) The durable and nondurable classification applies to services as well as to products.

Question 20

Protocol refers to

Accepted Answer

A) the standardized procedures followed by a specific company for the inception, design, manufacturing, promotion, and distribution of new products. 
B) a formalized statement of intent regarding what will be sold, to whom it will be sold, and by whom it will be sold. 
C) maintaining compliance with all licensing, manufacturing, and distribution standards ascribed by the U.S.government Department of Trade. 
D) a statement that identifies 1) a well-defined target market; 2) specific customers' needs, wants, and preferences; and 3) what the product will be and do. 
E) a statement that identifies 1) a well-defined target market; 2) specific product or service attributes, and 3) who will be responsible for which tasks to bring the product to market. 
A) the standardized procedures followed by a specific company for the inception, design, manufacturing, promotion, and distribution of new products. 
B) a formalized statement of intent regarding what will be sold, to whom it will be sold, and by whom it will be sold. 
C) maintaining compliance with all licensing, manufacturing, and distribution standards ascribed by the U.S.government Department of Trade. 
D) a statement that identifies 1) a well-defined target market; 2) specific customers' needs, wants, and preferences; and 3) what the product will be and do. 
E) a statement that identifies 1) a well-defined target market; 2) specific product or service attributes, and 3) who will be responsible for which tasks to bring the product to market.

With respect to distribution, shopping products are available

Considering the common classification of consumer products, which of the following products will have the most limited distribution?

A major reason for poorly conceived product getting into the marketplace and ultimately failing is marketing managers

Which of the following statements regarding goods is most accurate?

Business analysis refers to

Which of the following new products is the best example of the lowest level of risk from the company's point of view?

A discontinuous innovation is a product that

Advertising is important for products such as Butterfinger candy bars and Dasani bottled water that is purchased frequently and at relatively low cost.Wide distribution in retail outlets is essential.Why?

There are three levels of newness from the organization's perspective.These include line extension, a significant jump in innovation or technology, and true innovation.The category distinctions are based upon which factor?

With respect to price, which of the following types of consumer products would most likely be very expensive?

This company was rated by Fortune as the world's most admired company in 2009 and Business Week often rates it as the most innovative company in the world.

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

IDEO is a company that

How could a firm use a test market in their new-product development process?

151 Product line refers to

Specialty product refer to

Support products that include tools and office equipment are referred to as

poor execution of the marketing mix, and (8 ) __________.

Which of the following statements regarding "product" is most accurate?

Protocol refers to

Creating Customer Relationships and Value Through Marketing

Developing Successful Marketing and Organizational Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in 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

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

Personal Selling and Sales Management

Building an Effective Marketing Plan

Filters

Exam 10: Developing New Products and Services

With respect to distribution, shopping products are available

Considering the common classification of consumer products, which of the following products will have the most limited distribution?

A major reason for poorly conceived product getting into the marketplace and ultimately failing is marketing managers

Which of the following statements regarding goods is most accurate?

Business analysis refers to

Which of the following new products is the best example of the lowest level of risk from the company's point of view?

A discontinuous innovation is a product that

Advertising is important for products such as Butterfinger candy bars and Dasani bottled water that is purchased frequently and at relatively low cost.Wide distribution in retail outlets is essential.Why?

There are three levels of newness from the organization's perspective.These include line extension, a significant jump in innovation or technology, and true innovation.The category distinctions are based upon which factor?

With respect to price, which of the following types of consumer products would most likely be very expensive?

This company was rated by Fortune as the world's most admired company in 2009 and Business Week often rates it as the most innovative company in the world.

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

IDEO is a company that

How could a firm use a test market in their new-product development process?

151 Product line refers to

Specialty product refer to

Support products that include tools and office equipment are referred to as

poor execution of the marketing mix, and (8 ) __________.

Which of the following statements regarding "product" is most accurate?

Protocol refers to

Creating Customer Relationships and Value Through Marketing

Developing Successful Marketing and Organizational Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in 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

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

Personal Selling and Sales Management

Building an Effective Marketing Plan

Filters