Question 1

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 A

Question 2

an organization's perspective regarding its new products and innovations,which of the following new-product strategies has the lowest 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 C

Question 3

Describe the different ways to classify a "new" product.

Accepted Answer

The term "new" in relation to a new product is difficult to define.There are several ways to view the newness of a product.These include: 
(1)newness compared with existing products (functionally different from existing offerings); (2)newness from the consumer's perspective (the effects of a new product on consumption patterns based on the degree of learning consumers require); (3)newness in legal terms (the FTC defines new during the first six months after a product enters regular distribution); and (4)newness from the company's perspective (a revised item or a completely new innovation).

Question 4

Apple II,Macintosh,iPod,iPhone,MacBook Air,and iPad are all examples of a company's commitment to __________.

Accepted Answer

A)  outselling their competitors 
B)  social responsibility 
C)  new product development 
D)  using renewable resources 
E)  respecting their workforce 
A)  outselling their competitors 
B)  social responsibility 
C)  new product development 
D)  using renewable resources 
E)  respecting their workforce

Question 5

two main classifications of business products are

Accepted Answer

A)  durable and nondurable. 
B)  components and support. 
C)  tangible and intangible. 
D)  consumer and industrial. 
E)  derived and support. 
A)  durable and nondurable. 
B)  components and support. 
C)  tangible and intangible. 
D)  consumer and industrial. 
E)  derived and support.

Question 6

George Santayana,Spanish philosopher once said,"Those who cannot remember the past are condemned to repeat it." Applied to the organizational problems in new-product failure,this is really an example of

Accepted Answer

A)  not listening to the "voice of the consumer." 
B)  encountering "groupthink" in meetings. 
C)  skipping stages in the new-product process. 
D)  not learning critical takeaway lessons from past failures. 
E)  avoiding the "NIH problem." 
A)  not listening to the "voice of the consumer." 
B)  encountering "groupthink" in meetings. 
C)  skipping stages in the new-product process. 
D)  not learning critical takeaway lessons from past failures. 
E)  avoiding the "NIH problem."

Question 7

Ideally,before a new product is developed,a firm should have a precise protocol,which is a statement that identifies: (1)a well-defined target market; (2)specific customers' needs,wants,and preferences; and (3)__________.

Accepted Answer

A)  what the product will be and do to satisfy consumers 
B)  a clear plan for product distribution 
C)  clear financial goals and expectations 
D)  an analysis of potential competitors' products 
E)  a precise budget of how much can be spent for the marketing program 
A)  what the product will be and do to satisfy consumers 
B)  a clear plan for product distribution 
C)  clear financial goals and expectations 
D)  an analysis of potential competitors' products 
E)  a precise budget of how much can be spent for the marketing program

Question 8

proliferation of extra features that overwhelms many consumers with mind-boggling complexity is referred to as

Accepted Answer

A)  sensory overload. 
B)  product line extension. 
C)  feature bloat. 
D)  feature overkill. 
E)  product differentiation. 
A)  sensory overload. 
B)  product line extension. 
C)  feature bloat. 
D)  feature overkill. 
E)  product differentiation.

Question 9

Using an existing brand name to introduce a product that is new to the company into a totally new,unfamiliar market seems like a good idea.This is what Harley-Davidson magazine did when it introduced __________,and it failed quickly.

Accepted Answer

A)  aspirin 
B)  yogurt 
C)  disposable underwear 
D)  soda (soft drink) 
E)  perfume 
A)  aspirin 
B)  yogurt 
C)  disposable underwear 
D)  soda (soft drink) 
E)  perfume

Question 10

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 competitors 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 11

Using an existing brand name to introduce a product that is new to the company into a totally new,unfamiliar market seems like a good idea.This is what Cosmopolitan magazine did when it introduced __________,and it failed quickly.

Accepted Answer

A)  aspirin 
B)  yogurt 
C)  disposable underwear 
D)  soda (soft drink) 
E)  perfume 
A)  aspirin 
B)  yogurt 
C)  disposable underwear 
D)  soda (soft drink) 
E)  perfume

Question 12

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

Accepted Answer

A)  a factory 
B)  sheet rock 
C)  a cleaning service 
D)  a drill press 
E)  pencils 
A)  a factory 
B)  sheet rock 
C)  a cleaning service 
D)  a drill press 
E)  pencils

Question 13

product refers to

Accepted Answer

A)  a tangible good received in exchange for a person's time and effort. 
B)  intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. 
C)  a good that has in some way been altered, combined, or improved and sold to organizational buyers consumers. 
D)  is a thought that leads to an action such as a concept for a new invention. 
E)  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. 
A)  a tangible good received in exchange for a person's time and effort. 
B)  intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. 
C)  a good that has in some way been altered, combined, or improved and sold to organizational buyers consumers. 
D)  is a thought that leads to an action such as a concept for a new invention. 
E)  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.

Question 14

important way of viewing new products from the perspective of consumers is by:

Accepted Answer

A)  the price. 
B)  the extent of media promotion. 
C)  the degree of potential product cannibalization. 
D)  the presence of "feature bloat." 
E)  the degree of learning involved. 
A)  the price. 
B)  the extent of media promotion. 
C)  the degree of potential product cannibalization. 
D)  the presence of "feature bloat." 
E)  the degree of learning involved.

Question 15

__________ is the unique identification number that defines an item for ordering or inventory purposes.

Accepted Answer

A)  unique stock mark 
B)  QR code 
C)  stock keeping unit 
D)  order quantity code 
E)  NAICS stock code 
A)  unique stock mark 
B)  QR code 
C)  stock keeping unit 
D)  order quantity code 
E)  NAICS stock code

Question 16

durable good is defined as a(n)

Accepted Answer

A)  item consumed in one or a few uses. 
B)  item that usually lasts over an extended number of uses. 
C)  item that lasts at least one year without becoming obsolete. 
D)  product purchased only for the use of ultimate consumers. 
E)  product used in the production of other products. 
A)  item consumed in one or a few uses. 
B)  item that usually lasts over an extended number of uses. 
C)  item that lasts at least one year without becoming obsolete. 
D)  product purchased only for the use of ultimate consumers. 
E)  product used in the production of other products.

Question 17

Marketing Dashboard Map
-product can be classified as "new" from all of the following perspectives EXCEPT:

Accepted Answer

A)  the organization's. 
B)  existing offerings. 
C)  legal. 
D)  an organization's competitors. 
E)  the consumers. 
A)  the organization's. 
B)  existing offerings. 
C)  legal. 
D)  an organization's competitors. 
E)  the consumers.

Question 18

stage of the new-product process that positions and launches a new product in full-scale production and sales refers to __________.

Accepted Answer

A)  marketing program execution 
B)  disbursement 
C)  launch 
D)  commercialization 
E)  final distribution 
A)  marketing program execution 
B)  disbursement 
C)  launch 
D)  commercialization 
E)  final distribution

Question 19

slotting fee is a payment a

Accepted Answer

A)  wholesaler makes to place a new product on a retailer's shelf. 
B)  manufacturer makes to have a wholesaler distribute a new product to retailers. 
C)  manufacturer makes to place a new product on a retailer's shelf. 
D)  manufacturer makes to a wholesaler as compensation for warehousing inventory. 
E)  manufacturer makes to a retailer as compensation for sales not made while the product was on the shelf. 
A)  wholesaler makes to place a new product on a retailer's shelf. 
B)  manufacturer makes to have a wholesaler distribute a new product to retailers. 
C)  manufacturer makes to place a new product on a retailer's shelf. 
D)  manufacturer makes to a wholesaler as compensation for warehousing inventory. 
E)  manufacturer makes to a retailer as compensation for sales not made while the product was on the shelf.

Question 20

Heinz EZ Squirt Photo
-Heinz introduced its new EZ Squirt Ketchup bottle (see the photo above),what degree of learning was required by the consumer in terms of its effect on consumption?

Accepted Answer

A)  continuous innovation 
B)  discontinuous innovation 
C)  dynamically continuous innovation 
D)  spontaneous innovation 
E)  continuous invention 
A)  continuous innovation 
B)  discontinuous innovation 
C)  dynamically continuous innovation 
D)  spontaneous innovation 
E)  continuous invention

Exam 10: Developing New Products and Services

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

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

Describe the different ways to classify a "new" product.

Apple II,Macintosh,iPod,iPhone,MacBook Air,and iPad are all examples of a company's commitment to __________.

two main classifications of business products are

George Santayana,Spanish philosopher once said,"Those who cannot remember the past are condemned to repeat it." Applied to the organizational problems in new-product failure,this is really an example of

Ideally,before a new product is developed,a firm should have a precise protocol,which is a statement that identifies: (1)a well-defined target market; (2)specific customers' needs,wants,and preferences; and (3)__________.

proliferation of extra features that overwhelms many consumers with mind-boggling complexity is referred to as

Using an existing brand name to introduce a product that is new to the company into a totally new,unfamiliar market seems like a good idea.This is what Harley-Davidson magazine did when it introduced __________,and it failed quickly.

Using an existing brand name to introduce a product that is new to the company into a totally new,unfamiliar market seems like a good idea.This is what Cosmopolitan magazine did when it introduced __________,and it failed quickly.

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

product refers to

important way of viewing new products from the perspective of consumers is by:

__________ is the unique identification number that defines an item for ordering or inventory purposes.

durable good is defined as a(n)

Marketing Dashboard Map -product can be classified as "new" from all of the following perspectives EXCEPT:

stage of the new-product process that positions and launches a new product in full-scale production and sales refers to __________.

slotting fee is a payment a

Heinz EZ Squirt Photo -Heinz introduced its new EZ Squirt Ketchup bottle (see the photo above),what degree of learning was required by the consumer in terms of its effect on consumption?

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility for Sustainable 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

Services Marketing

Building the Price Foundation

Arriving at the Final Price

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 Multi-Channel Marketing

Pulling It All Together: The Strategic Marketing Process

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