Question 1

Briefly define what is meant by a product.Explain the characteristics that would define a product,good,service,and an idea.Give an example of each.

Accepted Answer

A product is a good,service,or idea cons

Question 2

The Apple innovation that stores all your digital content and then pushes it to where it can then be sent to your other digital devices is referred to as

Accepted Answer

A) iPod 
B) iCloud 
C) iPad 
D) iPhone 
E) MacBook Air 
A) iPod 
B) iCloud 
C) iPad 
D) iPhone 
E) MacBook Air

Question 3

Occasionally,a firm's Stage 1 activities can be blind-sided by a revolutionary new product or technology that completely disrupts its business,which is sometimes called a __________.

Accepted Answer

A) marketing opportunity. 
B) disruptive innovation. 
C) business threat. 
D) crowdsourcing. 
E) concept test. 
A) marketing opportunity. 
B) disruptive innovation. 
C) business threat. 
D) crowdsourcing. 
E) concept test.

Question 4

After Microsoft launched its Xbox 360 video-game console,millions began to experience the "red ring of death." The problem: The consoles' microprocessors ran too hot,causing them to "pop off" their motherboards.This cost the company not only money to extend its product warranty,but a huge portion of future sales and market share to competitors Sony and Nintendo.This failure was due to

Accepted Answer

A) not satisfying customer needs on critical factors. 
B) poor product quality. 
C) an insignificant point of difference. 
D) incomplete market and product protocol. 
E) too little market attractiveness. 
A) not satisfying customer needs on critical factors. 
B) poor product quality. 
C) an insignificant point of difference. 
D) incomplete market and product protocol. 
E) too little market attractiveness.

Question 5

Generating insights leading to marketing actions based on massive numbers of peoples' ideas is called __________.

Accepted Answer

A) brainstorming 
B) groupthink 
C) outsourcing 
D) crowdsourcing 
E) NIH syndrome 
A) brainstorming 
B) groupthink 
C) outsourcing 
D) crowdsourcing 
E) NIH syndrome

Question 6

Among business products,which of the following would MOST LIKELY be considered supplies?

Accepted Answer

A) laser printer 
B) phosphoric acid 
C) cleaning service 
D) magnetic resonance imaging (MRI)scanner 
E) trash bags 
A) laser printer 
B) phosphoric acid 
C) cleaning service 
D) magnetic resonance imaging (MRI)scanner 
E) trash bags

Question 7

A product that requires no new behaviors to be learned by consumers is a

Accepted Answer

A) continuous innovation. 
B) discontinuous innovation. 
C) dynamically continuous innovation. 
D) product transformation. 
E) concurrent innovation. 
A) continuous innovation. 
B) discontinuous innovation. 
C) dynamically continuous innovation. 
D) product transformation. 
E) concurrent innovation.

Question 8

A product mix refers to

Accepted Answer

A) all of the different product lines offered by an organization. 
B) the variations within a product class. 
C) a specific product SKU that has a unique brand,size,or price. 
D) a group of products that are closely related because they satisfy a class of needs,are used together,are sold to the same customer group,are distributed through the same types of outlets,or fall within a given price range. 
E) the entire product category or industry. 
A) all of the different product lines offered by an organization. 
B) the variations within a product class. 
C) a specific product SKU that has a unique brand,size,or price. 
D) a group of products that are closely related because they satisfy a class of needs,are used together,are sold to the same customer group,are distributed through the same types of outlets,or fall within a given price range. 
E) the entire product category or industry.

Question 9

How could a firm use a test market in its new-product process?

Accepted Answer

Test marketing involves offering actual

Question 10

Figure 10-3 above represents the seven stages of the new-product development process.Stage 5 is the __________ stage.

Accepted Answer

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

Question 11

The seven stages an organization goes through to identify business opportunities and convert them into salable products or services is referred to as the __________.

Accepted Answer

A) commercialization process 
B) SWOT process 
C) business prospect development cycle 
D) opportunity stage gate sequence 
E) new-product process 
A) commercialization process 
B) SWOT process 
C) business prospect development cycle 
D) opportunity stage gate sequence 
E) new-product process

Question 12

With respect to distribution,shopping products are available

Accepted Answer

A) by special order from the manufacturer. 
B) at an extremely small number of outlets. 
C) at relatively few outlets. 
D) at a large number of selective outlets. 
E) on a widespread basis at many outlets. 
A) by special order from the manufacturer. 
B) at an extremely small number of outlets. 
C) at relatively few outlets. 
D) at a large number of selective outlets. 
E) on a widespread basis at many outlets.

Question 13

The 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 14

Shopping products refer to items that the consumer

Accepted Answer

A) purchases frequently,conveniently,and with a minimum of effort. 
B) compares several alternatives on criteria such as price,quality,or style. 
C) makes a special effort to search out and buy. 
D) does not know about or knows about but does not initially buy. 
E) buys as a result of buying others' consumer products,such as impulse purchases. 
A) purchases frequently,conveniently,and with a minimum of effort. 
B) compares several alternatives on criteria such as price,quality,or style. 
C) makes a special effort to search out and buy. 
D) does not know about or knows about but does not initially buy. 
E) buys as a result of buying others' consumer products,such as impulse purchases.

Question 15

Which type of consumer product is purchased relatively infrequently and takes some time to make the purchase decision because the consumer needs time to compare offerings during the shopping experience?

Accepted Answer

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

Question 16

The term product class refers to

Accepted Answer

A) the NAICS designation of an individual product or brand. 
B) the designation of an individual product based upon its form. 
C) a variation of a product within a product mix. 
D) the designation of a product based on whether it is a consumer product or business product. 
E) the entire product category or industry a set of offerings belong to. 
A) the NAICS designation of an individual product or brand. 
B) the designation of an individual product based upon its form. 
C) a variation of a product within a product mix. 
D) the designation of a product based on whether it is a consumer product or business product. 
E) the entire product category or industry a set of offerings belong to.

Question 17

If you watch much television,you have seen the ads that show a controlled crash of a car containing crash test dummies and the resultant vehicular damage.In the new-product process,this safety test would occur during the __________ stage.

Accepted Answer

A) development 
B) market testing 
C) idea generation 
D) screening and evaluation 
E) business analysis 
A) development 
B) market testing 
C) idea generation 
D) screening and evaluation 
E) business analysis

Question 18

The first LCD (liquid crystal display)flat-panel HD (high definition)TV is an example of which type of innovation?

Accepted Answer

A) continuous innovation 
B) dynamically continuous innovation 
C) discontinuous innovation 
D) insignificant innovation 
E) disruptive innovation 
A) continuous innovation 
B) dynamically continuous innovation 
C) discontinuous innovation 
D) insignificant innovation 
E) disruptive innovation

Question 19

A product line refers to

Accepted Answer

A) a product and all its ancillary services (warranties,financing,etc. ). 
B) the variations within a product class. 
C) a specific product SKU that has a unique brand,size,or price. 
D) a group of product or service items that are closely related because they satisfy a class of needs,are used together,are sold to the same customer group,are distributed through the same types of outlets,or fall within a given price range. 
E) the entire product category or industry. 
A) a product and all its ancillary services (warranties,financing,etc. ). 
B) the variations within a product class. 
C) a specific product SKU that has a unique brand,size,or price. 
D) a group of product or service items that are closely related because they satisfy a class of needs,are used together,are sold to the same customer group,are distributed through the same types of outlets,or fall within a given price range. 
E) the entire product category or industry.

Question 20

Figure 10-3 above represents the seven stages of the new-product development process.Stage 3 is the __________ stage.

Accepted Answer

A) idea generation 
B) screening and evaluation 
C) screening and analysis 
D) new-product strategy development 
E) product assessment 
A) idea generation 
B) screening and evaluation 
C) screening and analysis 
D) new-product strategy development 
E) product assessment

Exam 10: Developing New Products and Services

Briefly define what is meant by a product.Explain the characteristics that would define a product,good,service,and an idea.Give an example of each.

The Apple innovation that stores all your digital content and then pushes it to where it can then be sent to your other digital devices is referred to as

Occasionally,a firm's Stage 1 activities can be blind-sided by a revolutionary new product or technology that completely disrupts its business,which is sometimes called a __________.

Generating insights leading to marketing actions based on massive numbers of peoples' ideas is called __________.

Among business products,which of the following would MOST LIKELY be considered supplies?

A product that requires no new behaviors to be learned by consumers is a

A product mix refers to

How could a firm use a test market in its new-product process?

Figure 10-3 above represents the seven stages of the new-product development process.Stage 5 is the __________ stage.

The seven stages an organization goes through to identify business opportunities and convert them into salable products or services is referred to as the __________.

With respect to distribution,shopping products are available

The 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

Shopping products refer to items that the consumer

Which type of consumer product is purchased relatively infrequently and takes some time to make the purchase decision because the consumer needs time to compare offerings during the shopping experience?

The term product class refers to

If you watch much television,you have seen the ads that show a controlled crash of a car containing crash test dummies and the resultant vehicular damage.In the new-product process,this safety test would occur during the __________ stage.

The first LCD (liquid crystal display)flat-panel HD (high definition)TV is an example of which type of innovation?

A product line refers to

Figure 10-3 above represents the seven stages of the new-product development process.Stage 3 is the __________ stage.

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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