Question 1

A product is a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange

Accepted Answer

A) only for legal tender (money). 
B) for providing value. 
C) only for barter. 
D) for a person's time and effort. 
E) for money or something else of value. 
A) only for legal tender (money). 
B) for providing value. 
C) only for barter. 
D) for a person's time and effort. 
E) for money or something else of value.

Question 2

According to Figure 10-1 above,column "B" would represent which type of product?

Accepted Answer

A) shopping 
B) convenience 
C) specialty 
D) prestige 
E) unsought 
A) shopping 
B) convenience 
C) specialty 
D) prestige 
E) unsought

Question 3

All of the following were changes in the Netflix business model since its founding in 1997 EXCEPT:

Accepted Answer

A) Netflix announced a pricing change that separated DVDs by mail and online offerings. 
B) Netflix began offering downloadable movies for sale at $9.99 each. 
C) Netflix created a subscription VHS cassette service so customers can receive them through the mail. 
D) Netflix has several "copycat" competitors,such as Amazon. 
E) Netflix began to offer original TV programming. 
A) Netflix announced a pricing change that separated DVDs by mail and online offerings. 
B) Netflix began offering downloadable movies for sale at $9.99 each. 
C) Netflix created a subscription VHS cassette service so customers can receive them through the mail. 
D) Netflix has several "copycat" competitors,such as Amazon. 
E) Netflix began to offer original TV programming.

Question 4

In terms of brand loyalty,consumers are very brand loyal and will not accept substitutes for which type of consumer product?

Accepted Answer

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

Question 5

What are the eight marketing reasons for new-product failures?

Accepted Answer

There are eight main marketing reasons a

Question 6

The stage of the new-product process that exposes actual products to prospective consumers under realistic purchase conditions to see if they will buy is referred to as

Accepted Answer

A) development. 
B) market testing. 
C) business analysis. 
D) commercialization. 
E) screening and evaluation. 
A) development. 
B) market testing. 
C) business analysis. 
D) commercialization. 
E) screening and evaluation.

Question 7

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

Question 8

Identify and describe each stage in the new-product process in the correct order.

Accepted Answer

There are seven stages in the new-produc

Question 9

All of the following are sources for new product ideas EXCEPT:

Accepted Answer

A) competitors. 
B) universities. 
C) regulators. 
D) suppliers. 
E) employees. 
A) competitors. 
B) universities. 
C) regulators. 
D) suppliers. 
E) employees.

Question 10

Among business products,support products that include tools and office equipment are referred to as

Accepted Answer

A) installations. 
B) supplies. 
C) raw materials. 
D) accessory equipment. 
E) components. 
A) installations. 
B) supplies. 
C) raw materials. 
D) accessory equipment. 
E) components.

Question 11

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as __________.

Accepted Answer

A) services 
B) goods 
C) products 
D) marketing mix 
E) ideas 
A) services 
B) goods 
C) products 
D) marketing mix 
E) ideas

Question 12

Which of the following is MOST LIKELY to be an example of an unsought product?

Accepted Answer

A) iPod MP3 player 
B) Lexus LS 460 luxury automobile 
C) flight on American Airlines to Phoenix 
D) Roget's Thesaurus 
E) Ivory soap 
A) iPod MP3 player 
B) Lexus LS 460 luxury automobile 
C) flight on American Airlines to Phoenix 
D) Roget's Thesaurus 
E) Ivory soap

Question 13

OUT! International's Hey! There's A Monster In My Room spray with a bubble-gum fragrance was designed to rid scary creatures from a kid's bedroom.Although a clever idea,it failed because it

Accepted Answer

A) did not satisfy customer needs on critical factors. 
B) had poor product quality. 
C) had bad timing. 
D) had an incomplete market and product protocol. 
E) had too little market attractiveness. 
A) did not satisfy customer needs on critical factors. 
B) had poor product quality. 
C) had bad timing. 
D) had an incomplete market and product protocol. 
E) had too little market attractiveness.

Question 14

The Crapola Granola products photo shown above BEST describes which of the following?

Accepted Answer

A) a product item 
B) a product line 
C) a product mix 
D) a product category 
E) a brand line 
A) a product item 
B) a product line 
C) a product mix 
D) a product category 
E) a brand line

Question 15

Commercialization refers to

Accepted Answer

A) the point at which a new product has diffused throughout the marketplace. 
B) the introduction of an offering to sequential geographic areas of the U.S. 
C) exposing actual products to prospective consumers under realistic purchase conditions. 
D) the stage of the new-product process that positions and launches a new product in full-scale production and sales. 
E) the point where new-product concepts are transformed into prototypes. 
A) the point at which a new product has diffused throughout the marketplace. 
B) the introduction of an offering to sequential geographic areas of the U.S. 
C) exposing actual products to prospective consumers under realistic purchase conditions. 
D) the stage of the new-product process that positions and launches a new product in full-scale production and sales. 
E) the point where new-product concepts are transformed into prototypes.

Question 16

When a small retail chain hires an accountant to do its income taxes,the retail chain would have purchased a(n)__________.

Accepted Answer

A) ancillary service 
B) industrial service 
C) specialty service 
D) accessory service 
E) contractual service 
A) ancillary service 
B) industrial service 
C) specialty service 
D) accessory service 
E) contractual service

Question 17

A good has tangible attributes that a consumer's __________ can perceive.

Accepted Answer

A) cognitive intelligence 
B) knowledge of past experiences 
C) five senses 
D) sixth sense 
E) emotional intelligence 
A) cognitive intelligence 
B) knowledge of past experiences 
C) five senses 
D) sixth sense 
E) emotional intelligence

Question 18

The division of products into durable and nondurable goods is to __________.

Accepted Answer

A) comply with NAICS guidelines 
B) address environmental concerns 
C) comply with ISO 9000 requirements 
D) classify products for tax purposes 
E) provide direction for marketing actions 
A) comply with NAICS guidelines 
B) address environmental concerns 
C) comply with ISO 9000 requirements 
D) classify products for tax purposes 
E) provide direction for marketing actions

Question 19

Dragon Naturally Speaking,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 20

Napster was the first software that allowed an individual to easily search for and exchange MP3 music files with other individuals (in some cases illegally).When it was introduced,Napster would have been an example of a

Accepted Answer

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

Exam 10: Developing New Products and Services

A product is a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange

According to Figure 10-1 above,column "B" would represent which type of product?

All of the following were changes in the Netflix business model since its founding in 1997 EXCEPT:

In terms of brand loyalty,consumers are very brand loyal and will not accept substitutes for which type of consumer product?

What are the eight marketing reasons for new-product failures?

The stage of the new-product process that exposes actual products to prospective consumers under realistic purchase conditions to see if they will buy is referred to as

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

Identify and describe each stage in the new-product process in the correct order.

All of the following are sources for new product ideas EXCEPT:

Among business products,support products that include tools and office equipment are referred to as

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as __________.

Which of the following is MOST LIKELY to be an example of an unsought product?

OUT! International's Hey! There's A Monster In My Room spray with a bubble-gum fragrance was designed to rid scary creatures from a kid's bedroom.Although a clever idea,it failed because it

The Crapola Granola products photo shown above BEST describes which of the following?

Commercialization refers to

When a small retail chain hires an accountant to do its income taxes,the retail chain would have purchased a(n)__________.

A good has tangible attributes that a consumer's __________ can perceive.

The division of products into durable and nondurable goods is to __________.

Dragon Naturally Speaking,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)

Napster was the first software that allowed an individual to easily search for and exchange MP3 music files with other individuals (in some cases illegally).When it was introduced,Napster would have been an example of a

Creating Customer Relationships and Value Through Marketing

Developing Successful Organizational and Marketing Strategies

Scanning the Marketing Environment

Ethical and Social Responsibility in 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 to Connect With Consumers

Personal Selling and Sales Management

Implementing Interactive and Multichannel Marketing

Pulling It All Together: the Strategic Marketing Process

Building an Effective Marketing Plan

Financial Aspects of Marketing

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