Exam 9: Developing New Products and Services

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?

Ideally, before a new product or service is developed, a firm should have a precise __________, which is a statement defining the target market, specifying customers' needs, and defining what the product or service will be and do to satisfy consumers.

An assessment of the fit of the proposed new products, from whether it can be economically developed and manufactured to the marketing strategy needed, take place during which stage of the new-product process?

The brochure for Spa Sydell has photographs of people enjoying the various spa amenities. By seeing the pictures of available treatments at the spa, a customer has a better idea of what she is buying. Spa Sydell uses a brochure to help customers deal with the __________ that is associated with using the service.

Products that are purchased by the ultimate consumer are referred to as __________.

A statement that identifies: a well-defined target market; specific customers' needs, wants, and preferences; and what the product will be and do to satisfy consumers is referred to as a new product's or service's

The type of business products known as support products includes installations, industrial services, accessory equipment, and __________.

According to Robert Stephens of the Geek Squad, the biggest complaint about technical support people is

Kroger required that Birds Eye pay $15,000 per month to get its new Vegetable Quinoa Pilaf placed in the middle shelves in the frozen vegetable freezer section of all its supermarkets around the country. This payment is an example of a

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

Idle production capacity refers to

A product item refers to

A product mix refers to

Goods can be divided into __________ goods and __________ goods.

Less than __________ of new consumer packaged goods (CPG) exceed first-year sales of $50 million - the benchmark of a successful CPG launch.

The proliferation of extra characteristics in a product that overwhelms many consumers with mind-boggling complexity is referred to as

Philips Sonicare recently introduced the DiamondClean rechargeable toothbrush. A key innovation is its Quadpacer interval timer that goes off after 30-seconds to prompt the user to move on to the next quadrant of the mouth that results in better cleaning and improved gum health. This is an example of which type of innovation?

X-1 uses all of the following sources to generate new-product ideas EXCEPT:

Which of the following statements about product lines is most accurate?

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