Exam 12: Developing and Managing Products

The annual Consumer Reports magazine rating of your company's flagship product was just released. Generally speaking the rating was good but not great. Based on the consumer comments that were referenced in the rating, it appears that many consumers have a negative view of the product's convenience and safety attributes.​ ​ In order to address these consumer concerns your company should consider doing which of the following?

Identify and explain the dimensions of product quality.

Scenario 12.2 Use the following to answer the questions.Jonathan Moore, president of Polar Manufacturing Company, has just reviewed the performance reports for the previous year and sees that there are some areas in which the company needs to improve. He specifically feels they could do a better job in managing Polar's product mix. Jonathan calls a meeting of all the managers responsible for each of the product lines that Polar currently manufactures. The group decides that they need to eliminate the complete industrial product line of ice chests, and plan to do so by letting the product decline without any changes in the marketing strategy or product. The group also decides to delete Polar's line of personal thermal underwear, however this product is to be discontinued within the week due to its unprofitability. While discussing these strategies, the group has also uncovered several customer groups for which new products could be developed. The managers decide to assemble a group of people from all functional areas of the company and give them the responsibility for all aspects of the new-product development. -Refer to Scenario 12.2. Polar management is currently in which stage of new product development?

Product managers can be responsible for a single product, a product line, or several products.

TerraCycle is a company that takes waste and "upcycles" it into new products. Currently, TerraCycle markets a bicycle rack to schools, parks, and cities, that is made of recycled plastic. This rack does not scratch or damage the bikes as concrete and steel racks can, and is eco-friendly since it is made of waste material. Terracycle is differentiating its product based on

Which of the following is the best definition of product features?

What exactly is analyzed during the business analysis phase of new-product development?

Functional modifications help an organization achieve and maintain a progressive image.

Your company makes personal hygiene products for young men. Your product line includes deodorants and shaving products. You are responsible for managing the company's relationships with the major retailers in the western U.S. region. In a recent meeting with a store manager you noticed young men selecting the company's deodorant product then moving down the aisle to select a competitor's body wash product. As you think about it more, it makes perfect sense that a young man buying deodorant would also be interested in a body wash product. Your company currently does not make a body wash product.​ ​ Based on your in-store observations, which of the following product management actions would you recommend to take advantage of this deodorant and body wash linkage?

Relatively few product ideas are put into the product development stage.

Marketers begin to make decisions about labeling, packaging, branding, pricing, and promotion during

Schwinn has developed a new bicycle that has the strongest and lightest-weight frame of any bicycle outside of those made for racing. In addition, Schwinn has added several new features to its bike that are attractive to individuals who work as "bike messengers" in large, urban cities. Since no other company makes a bike that has these specific attributes, Schwinn is creating

When marketers at Nabisco met with groups of young adults to identify the types of snacks that young people want, they were engaging in which phase of new-product development?

Product managers are most useful in the development of new products.

Marcellis is a product manager for a major electronics company. His current project is the development and introduction of a new smartphone. Since there are a number of smartphones currently out on the market, Marcellis is concerned about product failure. Currently, Marcellis and his team are in the screening phase of the new product development process. Has his team already passed the phase which is best able to measure the product failure concern?

Functional modifications make an existing product more durable.

The members of a venture team come from

The phase of new-product development in which a small sample of potential buyers are presented with a product idea through a written or oral description in order to determine their attitudes and initial buying intentions regarding the product is called

As Justin works on the prototype of a new action-oriented computer game, he is engaging in which phase of the new-product development process?

If Pedigree offered you a position in which you would have total marketing responsibility for all of its canned dog food, this position would probably hold the title of ____ manager.