Question 1

used __________ to develop an online site to generate 13,464 ideas for new products and website and marketing improvements.

Accepted Answer

A)  brainstorming 
B)  crowdsourcing 
C)  group think 
D)  outsourcing 
E)  data mining 
A)  brainstorming 
B)  crowdsourcing 
C)  group think 
D)  outsourcing 
E)  data mining

Question 2

Business researchers emphasize that firms must actively involve customers and suppliers in the new-product development process.This means that the focus should be on what the new product will __________ rather than simply what they want.

Accepted Answer

A)  look like 
B)  cost them 
C)  do for them 
D)  feel like 
E)  consist of in terms of new features 
A)  look like 
B)  cost them 
C)  do for them 
D)  feel like 
E)  consist of in terms of new features

Question 3

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

Accepted Answer

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

Question 4

Because of the time,cost,and confidentiality problems of test markets,consumer packaged goods firms often turn to __________,a technique that replicates a full-scale test market to a limited degree.

Accepted Answer

A)  partial rollouts 
B)  screening and evaluation 
C)  virtual reality testing 
D)  time to market 
E)  simulated test markets 
A)  partial rollouts 
B)  screening and evaluation 
C)  virtual reality testing 
D)  time to market 
E)  simulated test markets

Question 5

greatly admire a set of Waterford crystal serving bowls you see at a dinner party and decide to buy two despite their cost of $250 each.They are only available in your area in a Waterford shop 40 miles from campus.Into which classification of consumer products would the Waterford crystal serving bowls fall?

Accepted Answer

A)  convenience products 
B)  shopping products 
C)  specialty products 
D)  unsought products 
E)  discretionary products 
A)  convenience products 
B)  shopping products 
C)  specialty products 
D)  unsought products 
E)  discretionary products

Question 6

Ideally,before a new product is developed,a firm should have a precise __________,which is 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 to satisfy consumers.

Accepted Answer

A)  formula 
B)  contract 
C)  modus operandi 
D)  protocol 
E)  methodology 
A)  formula 
B)  contract 
C)  modus operandi 
D)  protocol 
E)  methodology

Question 7

Dragon,a speech recognition software program that allows you to use your voice instead of a keyboard to input text into a word processing program,is an example of a(n)

Accepted Answer

A)  continuous innovation. 
B)  discontinuous innovation. 
C)  dynamically continuous innovation. 
D)  disruptive improvement. 
E)  evolutionary innovation. 
A)  continuous innovation. 
B)  discontinuous innovation. 
C)  dynamically continuous innovation. 
D)  disruptive improvement. 
E)  evolutionary innovation.

Question 8

Among business products,printer paper would be classified as which type of support product?

Accepted Answer

A)  installations 
B)  accessory equipment 
C)  supplies 
D)  industrial services 
E)  raw materials 
A)  installations 
B)  accessory equipment 
C)  supplies 
D)  industrial services 
E)  raw materials

Question 9

Installations,accessory equipment,supplies,and industrial services used to assist in producing other goods and services are referred to as __________.

Accepted Answer

A)  components 
B)  parts 
C)  production goods 
D)  raw materials 
E)  support products 
A)  components 
B)  parts 
C)  production goods 
D)  raw materials 
E)  support products

Question 10

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)__________; and (3)what the product will be and do to satisfy consumers.

Accepted Answer

A)  a clear plan for product distribution 
B)  specific customers' needs, wants, and preferences 
C)  an analysis of potential competitors' products 
D)  a precise budget of how much can be spent for the marketing program 
E)  clear financial goals and expectations 
A)  a clear plan for product distribution 
B)  specific customers' needs, wants, and preferences 
C)  an analysis of potential competitors' products 
D)  a precise budget of how much can be spent for the marketing program 
E)  clear financial goals and expectations

Question 11

Products that usually last over many uses,such as cars and appliances,are referred to as

Accepted Answer

A)  endurable goods. 
B)  nondisposable goods. 
C)  imperishable goods. 
D)  reliable products. 
E)  durable goods. 
A)  endurable goods. 
B)  nondisposable goods. 
C)  imperishable goods. 
D)  reliable products. 
E)  durable goods.

Question 12

Magazine named the technology used in the development of Activeion's Ionator as one of the most __________ developments in 2008.

Accepted Answer

A)  sophisticated 
B)  sustainable 
C)  technologically significant 
D)  stylish 
E)  complicated 
A)  sophisticated 
B)  sustainable 
C)  technologically significant 
D)  stylish 
E)  complicated

Question 13

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 to satisfy consumers is referred to as a new product's

Accepted Answer

A)  protocol. 
B)  proposition. 
C)  modus operandi. 
D)  formula. 
E)  methodology. 
A)  protocol. 
B)  proposition. 
C)  modus operandi. 
D)  formula. 
E)  methodology.

Question 14

marketing,a(n)__________ is a thought that leads to a product or action.

Accepted Answer

A)  observation 
B)  inspiration 
C)  innovation 
D)  idea 
E)  perception 
A)  observation 
B)  inspiration 
C)  innovation 
D)  idea 
E)  perception

Question 15

Which of the following methods is commonly used in software development to speed up the development process?

Accepted Answer

A)  expedited time to market 
B)  fast prototyping 
C)  parallel development 
D)  a "design it, fix it, try it, and do it" approach 
E)  concept testing 
A)  expedited time to market 
B)  fast prototyping 
C)  parallel development 
D)  a "design it, fix it, try it, and do it" approach 
E)  concept testing

Question 16

Among business products,support products are items used to assist in producing other goods and services.These include installations such as

Accepted Answer

A)  convenience products. 
B)  buildings and fixed equipment. 
C)  tools and office equipment. 
D)  raw materials and component parts. 
E)  maintenance, repair, and legal services. 
A)  convenience products. 
B)  buildings and fixed equipment. 
C)  tools and office equipment. 
D)  raw materials and component parts. 
E)  maintenance, repair, and legal services.

Question 17

emphasis of a marketing strategy for a dynamically continuous innovation would include

Accepted Answer

A)  advertising to generate awareness. 
B)  obtaining widespread distribution. 
C)  advertising to explain points of difference and benefits. 
D)  setting a low price. 
E)  using personal selling. 
A)  advertising to generate awareness. 
B)  obtaining widespread distribution. 
C)  advertising to explain points of difference and benefits. 
D)  setting a low price. 
E)  using personal selling.

Question 18

Assume that as marketing director for Mazda,you see your sales decreasing in the years since the Honda Pilot with four-wheel drive was introduced.If you hope to regain sales in this market quickly through a new-product action,the fastest,most specific sources of ideas would likely be

Accepted Answer

A)  consumer suggestions. 
B)  employee suggestions. 
C)  research and development breakthroughs. 
D)  competitive products. 
E)  outside consultants. 
A)  consumer suggestions. 
B)  employee suggestions. 
C)  research and development breakthroughs. 
D)  competitive products. 
E)  outside consultants.

Question 19

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 Love Bandit Bear is an example of a

Accepted Answer

A)  product item. 
B)  product mix. 
C)  product class. 
D)  product form. 
E)  product line. 
A)  product item. 
B)  product mix. 
C)  product class. 
D)  product form. 
E)  product line.

Question 20

company was rated by Fortune as the world's most admired company in 2011 and Bloomberg Businessweek perennially 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

Exam 10: Developing New Products and Services

used __________ to develop an online site to generate 13,464 ideas for new products and website and marketing improvements.

Business researchers emphasize that firms must actively involve customers and suppliers in the new-product development process.This means that the focus should be on what the new product will __________ rather than simply what they want.

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

Because of the time,cost,and confidentiality problems of test markets,consumer packaged goods firms often turn to __________,a technique that replicates a full-scale test market to a limited degree.

Ideally,before a new product is developed,a firm should have a precise __________,which is 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 to satisfy consumers.

Dragon,a speech recognition software program that allows you to use your voice instead of a keyboard to input text into a word processing program,is an example of a(n)

Among business products,printer paper would be classified as which type of support product?

Installations,accessory equipment,supplies,and industrial services used to assist in producing other goods and services are referred to as __________.

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)__________; and (3)what the product will be and do to satisfy consumers.

Products that usually last over many uses,such as cars and appliances,are referred to as

Magazine named the technology used in the development of Activeion's Ionator as one of the most __________ developments in 2008.

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 to satisfy consumers is referred to as a new product's

marketing,a(n)__________ is a thought that leads to a product or action.

Which of the following methods is commonly used in software development to speed up the development process?

Among business products,support products are items used to assist in producing other goods and services.These include installations such as

emphasis of a marketing strategy for a dynamically continuous innovation would include

Assume that as marketing director for Mazda,you see your sales decreasing in the years since the Honda Pilot with four-wheel drive was introduced.If you hope to regain sales in this market quickly through a new-product action,the fastest,most specific sources of ideas would likely be

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 Love Bandit Bear is an example of a

company was rated by Fortune as the world's most admired company in 2011 and Bloomberg Businessweek perennially rates it as the most innovative company in the world.

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

Filters