Question 1

Marketers classify innovations based on their ________.

Accepted Answer

A) prices 
B) degree of tangibility 
C) costs to manufacture/provide 
D) contribution margins 
E) degree of newness 
A) prices 
B) degree of tangibility 
C) costs to manufacture/provide 
D) contribution margins 
E) degree of newness E

Question 2

The built-in,fold-down child seats found in minivans were an example of a ________ because they required consumers to learn how to properly use the seat as well as the advantages of the seat.

Accepted Answer

A) dynamically continuous innovation 
B) nonradical innovation 
C) competitive innovation 
D) continuous innovation 
E) discontinuous innovation 
A) dynamically continuous innovation 
B) nonradical innovation 
C) competitive innovation 
D) continuous innovation 
E) discontinuous innovation A

Question 3

At a trade show,a police officer discovered a flashlight made by KAS Systems that could be used to check alcohol levels without anyone knowing what he was doing.Prior to the show,the KAS system was a/n ________ for the police officer.

Accepted Answer

A) convenience product 
B) homogeneous product 
C) unsought product 
D) specialty product 
E) shopping product 
A) convenience product 
B) homogeneous product 
C) unsought product 
D) specialty product 
E) shopping product C

Question 4

How do the goals,sales,pricing and marketing communications for a product differ in the different stages of the product life cycle?

Accepted Answer

At the introduction stage of the PLC the

Question 5

Existing brand equity can hamper the success of a brand extension strategy.

Accepted Answer

A) True 
 B)False

Question 6

Brand equity is a source of competitive advantage.

Accepted Answer

A) True 
 B)False

Question 7

What is ingredient branding? Why would manufacturers want to engage in ingredient branding?

Accepted Answer

Ingredient branding is a form of co-bran

Question 8

Samsung recognised earlier than their competitors that colour screens on cell phones were going to be in high demand by customers and created one of the first offerings.This is an example of how different organisations adopt innovations.

Accepted Answer

A) True 
 B)False

Question 9

________ is an agreement between two brands to work together in marketing a product.

Accepted Answer

A) Aggregated branding 
B) Family branding 
C) Generic branding 
D) Co-branding 
E) Franchising 
A) Aggregated branding 
B) Family branding 
C) Generic branding 
D) Co-branding 
E) Franchising

Question 10

Discuss,with examples,the three categories of innovations and the potential effect on consumers.

Accepted Answer

The three categories are continuous inno

Question 11

At what stage of the consumer adoption of a new product will a potential customer drop out if they do not feel the new product will provide adequate benefits?

Accepted Answer

In the evaluation stage,a prospect weigh

Question 12

McDonald's wanted to add a pancake shaped like a muffin to its breakfast menu.The problem was in determining how a customer would add syrup to the pancake while eating and driving.Fortunately,one of the company's suppliers developed crystallised syrup that seeps through the pancake once it is heated.What phase of new-product development occurred when McDonald's met with its supplier?

Accepted Answer

Technical development occurred when McDo

Question 13

Explain how Panadol introducing a new product called Panadol Hangover Relief is a brand extension.

Accepted Answer

With a brand extension,new products are

Question 14

A company such as Procter & Gamble that offers a variety of different cleaners,detergents,and shampoos to appeal to a variety of target markets is using a/n ________.

Accepted Answer

A) production mix strategy 
B) full line strategy 
C) undifferentiated strategy 
D) limited-line strategy 
E) marketing mix orientation 
A) production mix strategy 
B) full line strategy 
C) undifferentiated strategy 
D) limited-line strategy 
E) marketing mix orientation

Question 15

Which of the following statements about brand equity is true?

Accepted Answer

A) Brand equity means a brand has customer loyalty. 
B) Brand equity refers to the brand's value to an organisation. 
C) Brand equity gives a firm the power to capture and hold onto a larger share of the market and to sell at prices with higher profit margins. 
D) Brand equity can provide a competitive advantage. 
E) All of the above 
A) Brand equity means a brand has customer loyalty. 
B) Brand equity refers to the brand's value to an organisation. 
C) Brand equity gives a firm the power to capture and hold onto a larger share of the market and to sell at prices with higher profit margins. 
D) Brand equity can provide a competitive advantage. 
E) All of the above

Question 16

Kitchen dishcloths are often difficult to rinse clean and typically dry slowly.3M has developed a disposable ScotchBrite Microfiber Kitchen Cloth that rinses easily and dries quickly.Because this is a brand new product to the market,it can be said to be in the ________ stage of its product life cycle.

Accepted Answer

A) extension 
B) maturity 
C) growth 
D) expansion 
E) introduction 
A) extension 
B) maturity 
C) growth 
D) expansion 
E) introduction

Question 17

When cooking magazine Taste of Home was introduced there was already a range of cooking magazines available.Unlike the other cooking magazines that featured complicated recipes using a large number of ingredients,Taste of Home decided to feature only recipes that could be made with four ingredients or less - and the ingredients were those that most people would have on hand.Each recipe could be prepared in less than 10 minutes and cooked in less than 20 minutes.Taste of Home magazine was hoping to capitalise on its ________.

Accepted Answer

A) relative advantage 
B) observability 
C) complexity 
D) compatibility 
E) empathy rate 
A) relative advantage 
B) observability 
C) complexity 
D) compatibility 
E) empathy rate

Question 18

Packaging is designed solely to protect the product.Discuss

Accepted Answer

While packaging does protect the product

Question 19

Business analysis for a new product begins with ________.

Accepted Answer

A) problem recognition 
B) perceptual mapping 
C) a repositioning strategy 
D) assessing how the new product will fit into a firm's total product mix 
A) problem recognition 
B) perceptual mapping 
C) a repositioning strategy 
D) assessing how the new product will fit into a firm's total product mix

Question 20

Why is successful new-product introduction becoming increasingly more difficult?

Accepted Answer

A) Government regulations require all products to wait at least two years before introduction. 
B) Many international companies are not engaging in product innovation. 
C) New-product development costs are so low that any company with a good idea can create a new product. 
D) Products become out-dated at a much faster rate than ever before. 
E) All of the above 
A) Government regulations require all products to wait at least two years before introduction. 
B) Many international companies are not engaging in product innovation. 
C) New-product development costs are so low that any company with a good idea can create a new product. 
D) Products become out-dated at a much faster rate than ever before. 
E) All of the above

Marketers classify innovations based on their ________.

The built-in,fold-down child seats found in minivans were an example of a ________ because they required consumers to learn how to properly use the seat as well as the advantages of the seat.

At a trade show,a police officer discovered a flashlight made by KAS Systems that could be used to check alcohol levels without anyone knowing what he was doing.Prior to the show,the KAS system was a/n ________ for the police officer.

How do the goals,sales,pricing and marketing communications for a product differ in the different stages of the product life cycle?

Existing brand equity can hamper the success of a brand extension strategy.

Brand equity is a source of competitive advantage.

What is ingredient branding? Why would manufacturers want to engage in ingredient branding?

Samsung recognised earlier than their competitors that colour screens on cell phones were going to be in high demand by customers and created one of the first offerings.This is an example of how different organisations adopt innovations.

________ is an agreement between two brands to work together in marketing a product.

Discuss,with examples,the three categories of innovations and the potential effect on consumers.

At what stage of the consumer adoption of a new product will a potential customer drop out if they do not feel the new product will provide adequate benefits?

Explain how Panadol introducing a new product called Panadol Hangover Relief is a brand extension.

A company such as Procter & Gamble that offers a variety of different cleaners,detergents,and shampoos to appeal to a variety of target markets is using a/n ________.

Which of the following statements about brand equity is true?

Packaging is designed solely to protect the product.Discuss

Business analysis for a new product begins with ________.

Why is successful new-product introduction becoming increasingly more difficult?

Welcome to the World of Marketing: Creating and Delivering Value

Strategic Market Planning: Taking the Big Picture

Thriving in the Marketing Environment: The World Is Flat

Marketing Research: Gathering,analysing and Using Information

Consumer Behaviour: How and Why We Buy

Business-To-Business Markets: How and Why Organisations Buy

Sharpening the Focus: Target Marketing Strategies and Customer Relationship Management

Services and Other Intangibles: Marketing a Product That Isnt There

Pricing the Product

One-To-Many: Advertising,consumer Sales Promotion and Public Relations

One-To-One: Trade Promotion,data-Driven Marketing and Personal Selling

Many-To-Many: Online Marketing Communication and New Media

Delivering Value Through Supply Chains and Logistics

Filters

Exam 8: Creating and Managing Products

Marketers classify innovations based on their ________.

The built-in,fold-down child seats found in minivans were an example of a ________ because they required consumers to learn how to properly use the seat as well as the advantages of the seat.

At a trade show,a police officer discovered a flashlight made by KAS Systems that could be used to check alcohol levels without anyone knowing what he was doing.Prior to the show,the KAS system was a/n ________ for the police officer.

How do the goals,sales,pricing and marketing communications for a product differ in the different stages of the product life cycle?

Existing brand equity can hamper the success of a brand extension strategy.

Brand equity is a source of competitive advantage.

What is ingredient branding? Why would manufacturers want to engage in ingredient branding?

Samsung recognised earlier than their competitors that colour screens on cell phones were going to be in high demand by customers and created one of the first offerings.This is an example of how different organisations adopt innovations.

________ is an agreement between two brands to work together in marketing a product.

Discuss,with examples,the three categories of innovations and the potential effect on consumers.

At what stage of the consumer adoption of a new product will a potential customer drop out if they do not feel the new product will provide adequate benefits?

Explain how Panadol introducing a new product called Panadol Hangover Relief is a brand extension.

A company such as Procter & Gamble that offers a variety of different cleaners,detergents,and shampoos to appeal to a variety of target markets is using a/n ________.

Which of the following statements about brand equity is true?

Packaging is designed solely to protect the product.Discuss

Business analysis for a new product begins with ________.

Why is successful new-product introduction becoming increasingly more difficult?

Welcome to the World of Marketing: Creating and Delivering Value

Strategic Market Planning: Taking the Big Picture

Thriving in the Marketing Environment: The World Is Flat

Marketing Research: Gathering,analysing and Using Information

Consumer Behaviour: How and Why We Buy

Business-To-Business Markets: How and Why Organisations Buy

Sharpening the Focus: Target Marketing Strategies and Customer Relationship Management

Services and Other Intangibles: Marketing a Product That Isnt There

Pricing the Product

One-To-Many: Advertising,consumer Sales Promotion and Public Relations

One-To-One: Trade Promotion,data-Driven Marketing and Personal Selling

Many-To-Many: Online Marketing Communication and New Media

Delivering Value Through Supply Chains and Logistics

Filters