Question 1

To break even means that total sales revenue must exactly equal all of your expenses.

Accepted Answer

A) True 
 B)False

Question 2

During the ramp-up stage of the product development process is used to identify any needed design changes.

Accepted Answer

A) True 
 B)False

Question 3

To get a patent your idea must be new, not obvious and have utility.

Accepted Answer

A) True 
 B)False

Question 4

Computers provide great assistance in designing products.

Accepted Answer

A) True 
 B)False

Question 5

If no product existed prior to its invention, then the product is a(n) _____.

Accepted Answer

A)  improvement in an existing product 
B)  new-to-the-company product 
C)  extension to an existing product line 
D)  "new-to-the-market" product 
A)  improvement in an existing product 
B)  new-to-the-company product 
C)  extension to an existing product line 
D)  "new-to-the-market" product

Question 6

The final product concept describes the look of a product and explains how it might work.

Accepted Answer

A) True 
 B)False

Question 7

You might want to subdivide a segment further to isolate a market.

Accepted Answer

A) True 
 B)False

Question 8

Which of the following is the smallest division of customers

Accepted Answer

A)  Niche 
B)  Segment 
C)  Market 
D)  Industry 
A)  Niche 
B)  Segment 
C)  Market 
D)  Industry

Question 9

Using _____ analysis allows you to determine the level of sales that you must reach in order to avoid losing money.

Accepted Answer

A)  receivership 
B)  breakeven 
C)  equity 
D)  revenue 
A)  receivership 
B)  breakeven 
C)  equity 
D)  revenue

Question 10

A market segment is best characterized as a group of _____.

Accepted Answer

A)  stores that sell similar products 
B)  manufacturers who produce similar products 
C)  potential customers with common characteristics 
D)  consumers with comparable incomes 
A)  stores that sell similar products 
B)  manufacturers who produce similar products 
C)  potential customers with common characteristics 
D)  consumers with comparable incomes

Question 11

You can protect the rights to your idea with a _____.

Accepted Answer

A)  copyright 
B)  patent 
C)  trademark 
D)  brand name 
A)  copyright 
B)  patent 
C)  trademark 
D)  brand name

Question 12

A _____ is a physical model of a product.

Accepted Answer

A)  rampup 
B)  CAD scan 
C)  prototype 
D)  product type 
A)  rampup 
B)  CAD scan 
C)  prototype 
D)  product type

Question 13

What type of a product is described as a "purple cow" and how did Seth Godin, marketing consultant, come up with term?

Accepted Answer

Seth Godin refers to truly remarkable pr

Question 14

Market segments can be a group of potential customers in a geographic location.

Accepted Answer

A) True 
 B)False

To break even means that total sales revenue must exactly equal all of your expenses.

During the ramp-up stage of the product development process is used to identify any needed design changes.

To get a patent your idea must be new, not obvious and have utility.

Computers provide great assistance in designing products.

If no product existed prior to its invention, then the product is a(n) _____.

The final product concept describes the look of a product and explains how it might work.

You might want to subdivide a segment further to isolate a market.

Which of the following is the smallest division of customers

Using _____ analysis allows you to determine the level of sales that you must reach in order to avoid losing money.

A market segment is best characterized as a group of _____.

You can protect the rights to your idea with a _____.

A _____ is a physical model of a product.

What type of a product is described as a "purple cow" and how did Seth Godin, marketing consultant, come up with term?

Market segments can be a group of potential customers in a geographic location.

The Foundations of Business

Business Ethics and Social Responsibility

Business in a Global Environment

Selecting a Form of Business Ownership

The Challenges of Starting a Business

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Teamwork and Communications

Marketing: Providing Value to Customers

Operations Management in Manufacturing and Service Industries

The Role of Accounting in Business

Managing Financial Resources

Personal Finances

Managing Information and Technology

The Legal and Regulatory Environment of Business

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Exam 10: Product Design and Development

To break even means that total sales revenue must exactly equal all of your expenses.

During the ramp-up stage of the product development process is used to identify any needed design changes.

To get a patent your idea must be new, not obvious and have utility.

Computers provide great assistance in designing products.

If no product existed prior to its invention, then the product is a(n) _____.

The final product concept describes the look of a product and explains how it might work.

You might want to subdivide a segment further to isolate a market.

Which of the following is the smallest division of customers

Using _____ analysis allows you to determine the level of sales that you must reach in order to avoid losing money.

A market segment is best characterized as a group of _____.

You can protect the rights to your idea with a _____.

A _____ is a physical model of a product.

What type of a product is described as a "purple cow" and how did Seth Godin, marketing consultant, come up with term?

Market segments can be a group of potential customers in a geographic location.

The Foundations of Business

Business Ethics and Social Responsibility

Business in a Global Environment

Selecting a Form of Business Ownership

The Challenges of Starting a Business

Managing for Business Success

Recruiting, Motivating, and Keeping Quality Employees

Teamwork and Communications

Marketing: Providing Value to Customers

Operations Management in Manufacturing and Service Industries

The Role of Accounting in Business

Managing Financial Resources

Personal Finances

Managing Information and Technology

The Legal and Regulatory Environment of Business

Filters