Question 1

An iMac personal computer from Apple can be classified according to all of the following categories EXCEPT:

Accepted Answer

A) a business product. 
B) a nondurable good. 
C) a B2B product. 
D) a durable good. 
E) a consumer product. 
A) a business product. 
B) a nondurable good. 
C) a B2B product. 
D) a durable good. 
E) a consumer product.

Question 2

Explain the difference between consumer products and business products. Why are some products difficult to categorize as one or the other? Give an example of a business product, a consumer product, and a product that is difficult to categorize.

Accepted Answer

Consumer products are products purchased

Question 3

The first LCD (liquid crystal display) flat-panel HD (high definition) TV is an example of which type of innovation?

Accepted Answer

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

Question 4

Imagine you work for a TV production company that has been approached by one of the broadcast TV networks to develop a concept for a new reality show. Where are you most likely to look first for ideas?

Accepted Answer

A) conducting a survey among the 2 million people belonging to the NPD Consumer Panel 
B) observing similar reality programs that are on competing television networks like CBS or MTV 
C) contacting contestants from other reality shows like Survivor or The Amazing Race 
D) brainstorming ideas from the TV production company's employees 
E) reading about the stars of reality TV programs in gossip magazines like Us Weekly and TV programs like TMZ 
A) conducting a survey among the 2 million people belonging to the NPD Consumer Panel 
B) observing similar reality programs that are on competing television networks like CBS or MTV 
C) contacting contestants from other reality shows like Survivor or The Amazing Race 
D) brainstorming ideas from the TV production company's employees 
E) reading about the stars of reality TV programs in gossip magazines like Us Weekly and TV programs like TMZ

Question 5

What do an online travel agency, a limousine service, and a railroad have in common?

Accepted Answer

A) They are all strictly tangible services. 
B) They are all people-based services. 
C) None of them has a problem with idle production capacity. 
D) They are all equipment-based services. 
E) They all require skilled operators. 
A) They are all strictly tangible services. 
B) They are all people-based services. 
C) None of them has a problem with idle production capacity. 
D) They are all equipment-based services. 
E) They all require skilled operators.

Question 6

Inventory of services differs from that of products in what way?

Accepted Answer

A) Time is less important to customers of services than customers of products. 
B) Only service inventory can be reduced through more efficient movement of products. 
C) There are larger costs associated with the handling of service inventory. 
D) Unlike goods providers, the service provider is often unavailable when there is a demand for the service. 
E) Service inventory costs are related to idle production capacity rather than storage or handling. 
A) Time is less important to customers of services than customers of products. 
B) Only service inventory can be reduced through more efficient movement of products. 
C) There are larger costs associated with the handling of service inventory. 
D) Unlike goods providers, the service provider is often unavailable when there is a demand for the service. 
E) Service inventory costs are related to idle production capacity rather than storage or handling.

Question 7

OUT! International's Hey! There's A Monster In My Room spray with a bubble-gum fragrance was designed to rid scary creatures from a kid's bedroom. Although a clever idea, it failed because it

Accepted Answer

A) did not satisfy customer needs on critical factors. 
B) had poor product quality. 
C) had bad timing. 
D) had an incomplete market and product protocol. 
E) had too little market attractiveness. 
A) did not satisfy customer needs on critical factors. 
B) had poor product quality. 
C) had bad timing. 
D) had an incomplete market and product protocol. 
E) had too little market attractiveness.

Question 8

Which of the following is considered an idea?

Accepted Answer

A) haircut 
B) birdfeeder 
C) theater production 
D) marketing class 
E) security 
A) haircut 
B) birdfeeder 
C) theater production 
D) marketing class 
E) security

Question 9

Explain why NOT all products can use test markets.

Accepted Answer

Not all products can use test markets. T

Question 10

Which of the following is the best example of a people-based service?

Accepted Answer

A) movie theaters 
B) airlines 
C) accounting 
D) vending machines 
E) taxis 
A) movie theaters 
B) airlines 
C) accounting 
D) vending machines 
E) taxis

Question 11

Which stage in the new-product process is a SWOT analysis used to identify the strategic role the new product might serve in the firm's business portfolio?

Accepted Answer

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

Question 12

In terms of promotion, which of the following type of consumer product 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

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

Accepted Answer

A) The number of retail stores in a downtown area decreases even though demand for retail goods increases. 
B) An increase in the number of new, single-family homes results from a spike in the gross national product. 
C) A Chinese plastics company increases its output because of its customers' higher toy exports to the United States. 
D) A heat wave results in an increased demand for air conditioners. 
E) Honda reducing its car prices causes GM to do the same 
A) The number of retail stores in a downtown area decreases even though demand for retail goods increases. 
B) An increase in the number of new, single-family homes results from a spike in the gross national product. 
C) A Chinese plastics company increases its output because of its customers' higher toy exports to the United States. 
D) A heat wave results in an increased demand for air conditioners. 
E) Honda reducing its car prices causes GM to do the same

Question 14

Simulated test markets (STMs) are often run in shopping malls where consumers are

Accepted Answer

A) asked how much a person is willing to pay for an unfamiliar item. 
B) asked whether they saw the firm's advertising campaign. 
C) questioned about how often they are likely to shop in that particular location. 
D) asked to identify differences between the consumer's behavioral intention and actual behavior regarding a firm's new product. 
E) questioned to identify product users and their likely consumption and media patterns. 
A) asked how much a person is willing to pay for an unfamiliar item. 
B) asked whether they saw the firm's advertising campaign. 
C) questioned about how often they are likely to shop in that particular location. 
D) asked to identify differences between the consumer's behavioral intention and actual behavior regarding a firm's new product. 
E) questioned to identify product users and their likely consumption and media patterns.

Question 15

Identify and describe each stage in the new-product process in the correct order.

Accepted Answer

There are seven stages in the new-produc

Question 16

At the time of its introduction, which of the following products was the best example of a continuous innovation?

Accepted Answer

A) home security system 
B) disposable lighter 
C) microwave oven 
D) electric toothbrush 
E) video camera 
A) home security system 
B) disposable lighter 
C) microwave oven 
D) electric toothbrush 
E) video camera

Question 17

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as a thesaurus) that a prospective buyer may not initially want. This type of consumer service is referred to as a(n)

Accepted Answer

A) unsought product. 
B) shopping product. 
C) convenience product. 
D) specialty product. 
E) support product. 
A) unsought product. 
B) shopping product. 
C) convenience product. 
D) specialty product. 
E) support product.

Question 18

From an organization's perspective regarding its new products and innovations, which of the following new-product strategies has the HIGHEST 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 deletion 
A) a radical invention 
B) a brand extension 
C) a product line extension 
D) a jump in innovation 
E) a product deletion

Question 19

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 20

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

An iMac personal computer from Apple can be classified according to all of the following categories EXCEPT:

Explain the difference between consumer products and business products. Why are some products difficult to categorize as one or the other? Give an example of a business product, a consumer product, and a product that is difficult to categorize.

The first LCD (liquid crystal display) flat-panel HD (high definition) TV is an example of which type of innovation?

Imagine you work for a TV production company that has been approached by one of the broadcast TV networks to develop a concept for a new reality show. Where are you most likely to look first for ideas?

What do an online travel agency, a limousine service, and a railroad have in common?

Inventory of services differs from that of products in what way?

OUT! International's Hey! There's A Monster In My Room spray with a bubble-gum fragrance was designed to rid scary creatures from a kid's bedroom. Although a clever idea, it failed because it

Which of the following is considered an idea?

Explain why NOT all products can use test markets.

Which of the following is the best example of a people-based service?

Which stage in the new-product process is a SWOT analysis used to identify the strategic role the new product might serve in the firm's business portfolio?

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

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

Simulated test markets (STMs) are often run in shopping malls where consumers are

Identify and describe each stage in the new-product process in the correct order.

At the time of its introduction, which of the following products was the best example of a continuous innovation?

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as a thesaurus) that a prospective buyer may not initially want. This type of consumer service is referred to as a(n)

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

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

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

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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters

Exam 9: Developing New Products and Services

An iMac personal computer from Apple can be classified according to all of the following categories EXCEPT:

Explain the difference between consumer products and business products. Why are some products difficult to categorize as one or the other? Give an example of a business product, a consumer product, and a product that is difficult to categorize.

The first LCD (liquid crystal display) flat-panel HD (high definition) TV is an example of which type of innovation?

Imagine you work for a TV production company that has been approached by one of the broadcast TV networks to develop a concept for a new reality show. Where are you most likely to look first for ideas?

What do an online travel agency, a limousine service, and a railroad have in common?

Inventory of services differs from that of products in what way?

OUT! International's Hey! There's A Monster In My Room spray with a bubble-gum fragrance was designed to rid scary creatures from a kid's bedroom. Although a clever idea, it failed because it

Which of the following is considered an idea?

Explain why NOT all products can use test markets.

Which of the following is the best example of a people-based service?

Which stage in the new-product process is a SWOT analysis used to identify the strategic role the new product might serve in the firm's business portfolio?

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

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

Simulated test markets (STMs) are often run in shopping malls where consumers are

Identify and describe each stage in the new-product process in the correct order.

At the time of its introduction, which of the following products was the best example of a continuous innovation?

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as a thesaurus) that a prospective buyer may not initially want. This type of consumer service is referred to as a(n)

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

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

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

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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Filters