Question 1

In terms of brand loyalty,consumers are aware of a brand but will readily accept substitutes for which type of product?

Accepted Answer

A) convenience products 
B) specialty products 
C) unsought products 
D) shopping products 
E) supplies 
A) convenience products 
B) specialty products 
C) unsought products 
D) shopping products 
E) supplies

Question 2

In the UMD10: Marketing Dashboard Map above,the annual growth rate in each state is shown,with green (which looks gray on printed paper)meaning good and red (which looks black on printed paper)meaning very bad.If an organization's 2013 sales for the entire U.S.were $50 million and its 2012 U.S.sales were $30 million,what is the annual % sales change?

Accepted Answer

A) 33% 
B) 67% 
C) 100% 
D) 125% 
E) 133% 
A) 33% 
B) 67% 
C) 100% 
D) 125% 
E) 133%

Question 3

One of the eight primary MARKETING-RELATED reasons for new-product failure is __________.

Accepted Answer

A) not listening to the voice of the consumer 
B) incomplete market and product protocol 
C) pushing a product too early into the market 
D) the "NIH" problem 
E) encountering groupthink in meetings 
A) not listening to the voice of the consumer 
B) incomplete market and product protocol 
C) pushing a product too early into the market 
D) the "NIH" problem 
E) encountering groupthink in meetings

Question 4

The new-product process an organization goes through to identify business opportunities and convert them into salable products or services contains

Accepted Answer

A) three main steps: research,production,and distribution. 
B) four distinct steps: research,evaluation,production,and distribution. 
C) five key phases ranging from idea generation to creating the first prototype. 
D) seven stages from new product strategy development to commercialization. 
E) three phases: planning,implementation,and evaluation. 
A) three main steps: research,production,and distribution. 
B) four distinct steps: research,evaluation,production,and distribution. 
C) five key phases ranging from idea generation to creating the first prototype. 
D) seven stages from new product strategy development to commercialization. 
E) three phases: planning,implementation,and evaluation.

Question 5

A company's product mix is equal to the sum of its

Accepted Answer

A) marketing mix. 
B) product class. 
C) product items. 
D) product lines. 
E) SKUs. 
A) marketing mix. 
B) product class. 
C) product items. 
D) product lines. 
E) SKUs.

Question 6

Thirsty Dog! is a zesty beef-flavored,vitamin-enriched,mineral-loaded,lightly carbonated bottled water for your dog.It might have been a great product,but competition over shelf space was fierce and the product could not generate enough sales per square foot for retailers.The makers of this product had

Accepted Answer

A) poor product quality. 
B) no economical access to buyers. 
C) an insignificant point of difference. 
D) incomplete market and product protocol. 
E) poor execution of the marketing mix. 
A) poor product quality. 
B) no economical access to buyers. 
C) an insignificant point of difference. 
D) incomplete market and product protocol. 
E) poor execution of the marketing mix.

Question 7

A __________ is the marketing term for a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.

Accepted Answer

A) idea 
B) service 
C) widget 
D) utility bundle 
E) product 
A) idea 
B) service 
C) widget 
D) utility bundle 
E) product

Question 8

Products organizations buy that assist in providing other products for resale are referred to as __________.

Accepted Answer

A) reseller goods 
B) wholesale goods 
C) business products 
D) ancillary products 
E) retail products 
A) reseller goods 
B) wholesale goods 
C) business products 
D) ancillary products 
E) retail products

Question 9

The proliferation of extra characteristics in a product that overwhelms many consumers with mind-boggling complexity is referred to as

Accepted Answer

A) feature overkill. 
B) product line extension. 
C) feature bloat. 
D) sensory overload. 
E) product differentiation. 
A) feature overkill. 
B) product line extension. 
C) feature bloat. 
D) sensory overload. 
E) product differentiation.

Question 10

After the new owner purchased a fully equipped yogurt factory,it took a yogurt master a year and a half to come up with the perfect formulation for Chobani Greek Yogurt.The most likely stage of the new-product process during which this time was spent is __________.

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 11

In terms of promotion,which of the following type of consumer product stresses product differentiation from competitors?

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 12

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.For the Vermont Teddy Bear Company,Teddy bears are an example of a

Accepted Answer

A) product class. 
B) product mix. 
C) SKU. 
D) marketing category. 
E) product line. 
A) product class. 
B) product mix. 
C) SKU. 
D) marketing category. 
E) product line.

Question 13

The emphasis of a marketing strategy for a discontinuous innovation would most likely be to

Accepted Answer

A) generate awareness among consumers. 
B) advertise benefits to consumers that stress points of differentiation. 
C) educate consumers about new consumption patterns through personal selling. 
D) obtain widespread distribution in multiple channels. 
E) stress price differentials from competitors' products. 
A) generate awareness among consumers. 
B) advertise benefits to consumers that stress points of differentiation. 
C) educate consumers about new consumption patterns through personal selling. 
D) obtain widespread distribution in multiple channels. 
E) stress price differentials from competitors' products.

Question 14

One of the eight primary MARKETING-RELATED reasons for new-product failure is __________.

Accepted Answer

A) skipping steps in the new-product process 
B) pushing a poorly conceived product too early into the market 
C) no economical access to buyers 
D) not learning from past new-product failures 
E) not understanding the legal definition of newness. 
A) skipping steps in the new-product process 
B) pushing a poorly conceived product too early into the market 
C) no economical access to buyers 
D) not learning from past new-product failures 
E) not understanding the legal definition of newness.

Question 15

Business products are also referred to as __________.

Accepted Answer

A) B2B products 
B) B2C products 
C) B4B products 
D) BOB products 
E) B4C products 
A) B2B products 
B) B2C products 
C) B4B products 
D) BOB products 
E) B4C products

Question 16

Industrial products are also referred to as __________ products.

Accepted Answer

A) consumer 
B) merchandise 
C) organizational 
D) resale 
E) business 
A) consumer 
B) merchandise 
C) organizational 
D) resale 
E) business

Question 17

In which stage in the new-product process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?

Accepted Answer

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

Question 18

The first stage of the new-product process is

Accepted Answer

A) idea generation. 
B) screening and evaluation. 
C) business analysis. 
D) new-product strategy development. 
E) concept testing. 
A) idea generation. 
B) screening and evaluation. 
C) business analysis. 
D) new-product strategy development. 
E) concept testing.

Question 19

Using an existing brand name to introduce a product that is new to the company into a totally new,unfamiliar market seems like a good idea.A few years ago,Frito-Lay thought this was a great new-product concept: Why not develop Frito-Lay Lemonade as a thirst-quencher for those consumers who also like Frito-Lay's salty snacks such as Fritos corn chips? But when people think of the brand name "Frito-Lay," thirst-quenching is not a benefit that comes to mind.So the "logic" lost out and Frito-Lay Lemonade failed.This innovation strategy is known as a

Accepted Answer

A) brand extension. 
B) radical invention. 
C) product line extension. 
D) disruptive innovation. 
E) product deletion. 
A) brand extension. 
B) radical invention. 
C) product line extension. 
D) disruptive innovation. 
E) product deletion.

Question 20

A product line is 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,and are distributed through the same type of outlets,or __________.

Accepted Answer

A) are made of similar components 
B) fall within a given price range 
C) made from the same formulations 
D) are identical except for price 
E) require high levels of R&D 
A) are made of similar components 
B) fall within a given price range 
C) made from the same formulations 
D) are identical except for price 
E) require high levels of R&D

Exam 10: Developing New Products and Services

In terms of brand loyalty,consumers are aware of a brand but will readily accept substitutes for which type of product?

One of the eight primary MARKETING-RELATED reasons for new-product failure is __________.

The new-product process an organization goes through to identify business opportunities and convert them into salable products or services contains

A company's product mix is equal to the sum of its

A __________ is the marketing term for a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.

Products organizations buy that assist in providing other products for resale are referred to as __________.

The proliferation of extra characteristics in a product that overwhelms many consumers with mind-boggling complexity is referred to as

After the new owner purchased a fully equipped yogurt factory,it took a yogurt master a year and a half to come up with the perfect formulation for Chobani Greek Yogurt.The most likely stage of the new-product process during which this time was spent is __________.

In terms of promotion,which of the following type of consumer product stresses product differentiation from competitors?

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.For the Vermont Teddy Bear Company,Teddy bears are an example of a

The emphasis of a marketing strategy for a discontinuous innovation would most likely be to

One of the eight primary MARKETING-RELATED reasons for new-product failure is __________.

Business products are also referred to as __________.

Industrial products are also referred to as __________ products.

In which stage in the new-product process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?

The first stage of the new-product process is

A product line is 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,and are distributed through the same type of outlets,or __________.

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

Filters