Question 1

New product failures may be avoided if the company developing the new product has

Accepted Answer

A) a precise protocol. 
B) a clear product definition. 
C) a statement of intent with measures of success. 
D) top-management involvement in the development process. 
E) a marketer-dominated source of information for consumers. 
A) a precise protocol. 
B) a clear product definition. 
C) a statement of intent with measures of success. 
D) top-management involvement in the development process. 
E) a marketer-dominated source of information for consumers.

Question 2

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

Accepted Answer

A) The number of retail stores in a downtown area decreases and demand for retail goods increases. 
B) An increase in the number of new single-family homes results from a spurt in the gross national product. 
C) The heat wave results in an increased demand for air conditioners. 
D) Container ship manufacturers experience an increase in sales because more products are demanded from Asia to be sold in the U.S.and must be transported by ship. 
E) Honda's reducing its car prices causes GM to do the same. 
A) The number of retail stores in a downtown area decreases and demand for retail goods increases. 
B) An increase in the number of new single-family homes results from a spurt in the gross national product. 
C) The heat wave results in an increased demand for air conditioners. 
D) Container ship manufacturers experience an increase in sales because more products are demanded from Asia to be sold in the U.S.and must be transported by ship. 
E) Honda's reducing its car prices causes GM to do the same.

Question 3

Which of the following is the best example of a nondurable good?

Accepted Answer

A) laundry detergent 
B) shoes 
C) insurance 
D) iPod 
E) laser surgery 
A) laundry detergent 
B) shoes 
C) insurance 
D) iPod 
E) laser surgery

Question 4

FIGURE 10-7  
-Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "C" represents the __________ stage.

Accepted Answer

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

Question 5

Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision and obtain the item?

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 6

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 __________.

Accepted Answer

A) a consumer good 
B) a product 
C) a manufactured good 
D) a stock item 
E) merchandise 
A) a consumer good 
B) a product 
C) a manufactured good 
D) a stock item 
E) merchandise

Question 7

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.The Love Bandit Bear is one bear it designed for people to give to each other on Valentine's Day.The unique identification number that the Vermont Teddy Bear Company uses to distinguish this Teddy bear from the others in its inventory and to order new stock when its numbers are depleted is a(n)

Accepted Answer

A) Universal product code. 
B) Independent stock code. 
C) Order quantity code. 
D) Stock keeping unit. 
E) Stock ID code. 
A) Universal product code. 
B) Independent stock code. 
C) Order quantity code. 
D) Stock keeping unit. 
E) Stock ID code.

Question 8

After Microsoft launched its Xbox 360 video-game console, millions began to experience the "red ring of death." The problem: The consoles' microprocessors ran too hot, causing them to "pop off" their motherboards.This cost the company not only in money to extend its product warranty, but a huge portion of future sales, and market share to Sony and Nintendo.This failure was due to

Accepted Answer

A) not satisfying customer needs on critical factors. 
B) poor product quality. 
C) an insignificant point of difference. 
D) incomplete market and product protocol. 
E) too little market attractiveness. 
A) not satisfying customer needs on critical factors. 
B) poor product quality. 
C) an insignificant point of difference. 
D) incomplete market and product protocol. 
E) too little market attractiveness.

Question 9

101 Which of the following would most likely be considered an industrial service?

Accepted Answer

A) photocopier 
B) sheet rock 
C) office cleaning 
D) radio towers 
E) ink cartridges 
A) photocopier 
B) sheet rock 
C) office cleaning 
D) radio towers 
E) ink cartridges

Question 10

New flavors like lemon-lime, crystal mint, and mint mojito helped the Wm.Wrigley Jr.Co.add to its profitability.These new flavors of gum are which type of innovation?

Accepted Answer

A) continuous innovation 
B) dynamically continuous innovation 
C) discontinuous innovation 
D) insignificant innovation 
E) interruptive innovation 
A) continuous innovation 
B) dynamically continuous innovation 
C) discontinuous innovation 
D) insignificant innovation 
E) interruptive innovation

Question 11

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 th

Question 12

A stunning benefit of the Ionator is in the __________ area.

Accepted Answer

A) service 
B) production 
C) technology 
D) environmental 
E) consumer health 
A) service 
B) production 
C) technology 
D) environmental 
E) consumer health

Question 13

Microsoft, introduced its Zune player a few years after Apple launched its iPod and other competitors offered new MP3 players.The primary reason for the product's failure to meet expectations was due in great part to

Accepted Answer

A) bad timing. 
B) not satisfying customer needs on critical factors. 
C) poor product quality. 
D) an insignificant point of difference. 
E) incomplete market and product protocol. 
A) bad timing. 
B) not satisfying customer needs on critical factors. 
C) poor product quality. 
D) an insignificant point of difference. 
E) incomplete market and product protocol.

Question 14

Where would potatoes, a photographic studio, and a psychologist fit into the goods-service continuum?

Accepted Answer

The goods-service continuum refers to th

Question 15

The new-product process refers to

Accepted Answer

A) the informal process of "brain storming" ideas at a marketing meeting. 
B) the process of presenting cross-functional teams with a written product concept statement and asking them to respond to it in writing. 
C) the seven stages an organization goes through to identify business opportunities and convert them to a salable product or service. 
D) the six stages an organization goes through from idea generation to commercialization. 
E) a formalized protocol for new-product development that begins at the corporate level and ends at the corporate level. 
A) the informal process of "brain storming" ideas at a marketing meeting. 
B) the process of presenting cross-functional teams with a written product concept statement and asking them to respond to it in writing. 
C) the seven stages an organization goes through to identify business opportunities and convert them to a salable product or service. 
D) the six stages an organization goes through from idea generation to commercialization. 
E) a formalized protocol for new-product development that begins at the corporate level and ends at the corporate level.

Question 16

FIGURE 10-7  
-As shown in Figure 10-7 above, identify and describe each of the seven stages in the new-product process.List each stage in its proper order.

Accepted Answer

(1) New-product strategy development: de

Question 17

One major organizational problem is the failure to learn from past mistakes.The easiest lessons learned are from "intelligent failures." Intelligent failures are

Accepted Answer

A) unintentional actions that ironically have positive outcomes. 
B) mistakes that can be hidden from the consumer with minor adjustments such as printing new labels. 
C) mistakes that occur early in the process so they are less expensive and provide immediate understanding of the customers' true needs and wants. 
D) mistakes that occur in a product designated for one market that can become product benefits to a different market with little or no additional marketing actions required. 
E) mistakes that result in the phrase "I knew that," implying that an action was intentional when it actually was not, and still defending that action even though it is not working. 
A) unintentional actions that ironically have positive outcomes. 
B) mistakes that can be hidden from the consumer with minor adjustments such as printing new labels. 
C) mistakes that occur early in the process so they are less expensive and provide immediate understanding of the customers' true needs and wants. 
D) mistakes that occur in a product designated for one market that can become product benefits to a different market with little or no additional marketing actions required. 
E) mistakes that result in the phrase "I knew that," implying that an action was intentional when it actually was not, and still defending that action even though it is not working.

Question 18

The emergency room staff in Houston's largest hospital is surprised and pleased when a four-day Fourth of July weekend brings fewer accident victims in for treatment.They know from experience that such public holidays usually have high rates of accidents.For the hospital business office, the lower demand for the emergency room services means

Accepted Answer

A) a break in the goods-services continuum. 
B) its services are no longer tangible. 
C) its services can be separated from the staff. 
D) the hospital had idle production capacity. 
E) an opportunity for gap analysis. 
A) a break in the goods-services continuum. 
B) its services are no longer tangible. 
C) its services can be separated from the staff. 
D) the hospital had idle production capacity. 
E) an opportunity for gap analysis.

Question 19

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.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 20

Which of the following is an example of an organizational problem that can cause a new product failure?

Accepted Answer

A) Disproportionate creativity and out-of-the box thinking. 
B) Too much input from different departments within the firm. 
C) Not learning critical takeaway lessons from past failures. 
D) Intense brand recognition. 
E) Excessive checks and balances prior to a new product release. 
A) Disproportionate creativity and out-of-the box thinking. 
B) Too much input from different departments within the firm. 
C) Not learning critical takeaway lessons from past failures. 
D) Intense brand recognition. 
E) Excessive checks and balances prior to a new product release.

New product failures may be avoided if the company developing the new product has

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

Which of the following is the best example of a nondurable good?

FIGURE 10-7 -Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "C" represents the __________ stage.

Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision and obtain the item?

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 __________.

101 Which of the following would most likely be considered an industrial service?

New flavors like lemon-lime, crystal mint, and mint mojito helped the Wm.Wrigley Jr.Co.add to its profitability.These new flavors of gum are which type of innovation?

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

A stunning benefit of the Ionator is in the __________ area.

Microsoft, introduced its Zune player a few years after Apple launched its iPod and other competitors offered new MP3 players.The primary reason for the product's failure to meet expectations was due in great part to

Where would potatoes, a photographic studio, and a psychologist fit into the goods-service continuum?

The new-product process refers to

FIGURE 10-7 -As shown in Figure 10-7 above, identify and describe each of the seven stages in the new-product process.List each stage in its proper order.

One major organizational problem is the failure to learn from past mistakes.The easiest lessons learned are from "intelligent failures." Intelligent failures are

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.Breyer's new product was in the __________ stage of the new-product process.

Which of the following is an example of an organizational problem that can cause a new product failure?

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

New product failures may be avoided if the company developing the new product has

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

Which of the following is the best example of a nondurable good?

FIGURE 10-7 -Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "C" represents the __________ stage.

Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision and obtain the item?

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 __________.

101 Which of the following would most likely be considered an industrial service?

New flavors like lemon-lime, crystal mint, and mint mojito helped the Wm.Wrigley Jr.Co.add to its profitability.These new flavors of gum are which type of innovation?

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

A stunning benefit of the Ionator is in the __________ area.

Microsoft, introduced its Zune player a few years after Apple launched its iPod and other competitors offered new MP3 players.The primary reason for the product's failure to meet expectations was due in great part to

Where would potatoes, a photographic studio, and a psychologist fit into the goods-service continuum?

The new-product process refers to

FIGURE 10-7 -As shown in Figure 10-7 above, identify and describe each of the seven stages in the new-product process.List each stage in its proper order.

One major organizational problem is the failure to learn from past mistakes.The easiest lessons learned are from "intelligent failures." Intelligent failures are

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.Breyer's new product was in the __________ stage of the new-product process.

Which of the following is an example of an organizational problem that can cause a new product failure?

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