Question 1

According to Figure 10-1 above,column "D" 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 2

Vivienne,a college student with limited financial resources,was considering the purchase of a new automobile.She went from car dealer to car dealer in several different cities searching for the lowest price on a new economy car.She devoted a great deal of time and energy to getting the best value for her money.For Vivienne,an automobile was a(n)__________.

Accepted Answer

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

Question 3

The type of business products known as support products includes installations,accessory equipment,supplies,and __________.

Accepted Answer

A) industrial services 
B) components 
C) materials 
D) derived products 
E) complementary products 
A) industrial services 
B) components 
C) materials 
D) derived products 
E) complementary products

Question 4

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

Accepted Answer

A) snow shovel 
B) smartphone 
C) gym membership 
D) calculator 
E) burial insurance 
A) snow shovel 
B) smartphone 
C) gym membership 
D) calculator 
E) burial insurance

Question 5

Idea generation refers to

Accepted Answer

A) the stage of the new-product process when concepts are converted to prototypes. 
B) the stage of the new-product process that develops a pool of concepts to serve as candidates for new-products. 
C) the stage of the new-product process where possible promotional campaigns and advertising themes are created. 
D) the techniques used to screen and reject those ideas that have no merit. 
E) the discussion and decision of which as target market segments will be selected. 
A) the stage of the new-product process when concepts are converted to prototypes. 
B) the stage of the new-product process that develops a pool of concepts to serve as candidates for new-products. 
C) the stage of the new-product process where possible promotional campaigns and advertising themes are created. 
D) the techniques used to screen and reject those ideas that have no merit. 
E) the discussion and decision of which as target market segments will be selected.

Question 6

Convenience products refer to

Accepted Answer

A) items that consumers will make special efforts to seek out and buy. 
B) items for which consumers compare several alternatives on criteria such as price,quality,or style. 
C) products consumers purchase frequently and with a minimum of shopping effort. 
D) ancillary products used to make other products work more efficiently. 
E) low-cost items for which there are numerous substitutes and generic equivalents. 
A) items that consumers will make special efforts to seek out and buy. 
B) items for which consumers compare several alternatives on criteria such as price,quality,or style. 
C) products consumers purchase frequently and with a minimum of shopping effort. 
D) ancillary products used to make other products work more efficiently. 
E) low-cost items for which there are numerous substitutes and generic equivalents.

Question 7

According to Figure 10-2 above,column "B" represents a(n)

Accepted Answer

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

Question 8

Because of the time,cost,and confidentiality problems of test markets,consumer packaged goods firms often turn to __________,a technique that replicates a full-scale test market to a limited degree.

Accepted Answer

A) partial rollouts 
B) screening and evaluation 
C) virtual reality testing 
D) time-to-market measures 
E) simulated test markets 
A) partial rollouts 
B) screening and evaluation 
C) virtual reality testing 
D) time-to-market measures 
E) simulated test markets

Question 9

Specialty products refer to

Accepted Answer

A) products for which there are no close substitutes. 
B) products purchased for their prestige or high perceived value. 
C) products a consumer will make a specific effort to search out and buy. 
D) items for which the consumer compares several alternatives on several criteria such as price,quality,or style. 
E) items that the consumer does not know about or knows about but does not initially buy. 
A) products for which there are no close substitutes. 
B) products purchased for their prestige or high perceived value. 
C) products a consumer will make a specific effort to search out and buy. 
D) items for which the consumer compares several alternatives on several criteria such as price,quality,or style. 
E) items that the consumer does not know about or knows about but does not initially buy.

Question 10

The most expensive stage in the new-product process for most products and services is

Accepted Answer

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

Question 11

Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision?

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 12

If a new grocery product does not achieve a predetermined sales target,some retailers require a penalty payment by the manufacturer to compensate them for sales that its valuable shelf space was unable to generate.What is this type of payment called?

Accepted Answer

A) an opportunity cost charge 
B) lost sales fee 
C) shelf space allowance 
D) product displacement fee 
E) a failure fee 
A) an opportunity cost charge 
B) lost sales fee 
C) shelf space allowance 
D) product displacement fee 
E) a failure fee

Question 13

An extremely large machine for producing sheet metal from steel ingots would be classified as which kind of business products?

Accepted Answer

A) installations 
B) finished goods 
C) supplies 
D) industrial services 
E) raw materials 
A) installations 
B) finished goods 
C) supplies 
D) industrial services 
E) raw materials

Question 14

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as burial insurance)that a prospective buyer may not initially want.This type of consumer service is referred to as a(n)

Accepted Answer

A) unsought product/service. 
B) shopping product/service. 
C) convenience product/service. 
D) specialty product/service. 
E) support product/service. 
A) unsought product/service. 
B) shopping product/service. 
C) convenience product/service. 
D) specialty product/service. 
E) support product/service.

Question 15

A statement that identifies: (1)a well-defined target market; (2)specific customers' needs,wants,and preferences;and (3)what the product will be and do to satisfy consumers is referred to as a new product's or service's

Accepted Answer

A) protocol. 
B) proposition. 
C) modus operandi. 
D) formula. 
E) methodology. 
A) protocol. 
B) proposition. 
C) modus operandi. 
D) formula. 
E) methodology.

Question 16

Feature bloat is

Accepted Answer

A) an exaggeration of a product's performance capabilities. 
B) the overcharging in price for a minor product enhancement. 
C) the requirement of having consumers learn new behaviors with a continuous innovation. 
D) an excessive number of product attributes that overwhelms consumers with unnecessary complexity. 
E) the increase in package size when adding more content or making it larger (the "mega" phenomenon). 
A) an exaggeration of a product's performance capabilities. 
B) the overcharging in price for a minor product enhancement. 
C) the requirement of having consumers learn new behaviors with a continuous innovation. 
D) an excessive number of product attributes that overwhelms consumers with unnecessary complexity. 
E) the increase in package size when adding more content or making it larger (the "mega" phenomenon).

Question 17

Explain the difference between consumer products and business products.Why are some products difficult to categorize as one or the other? Give an example of a business product,a consumer product,and a product that is difficult to categorize.

Accepted Answer

Consumer products are products purchased

Question 18

Detailed financial projections and assessments of marketing and product synergies are a part of which stage of the new-product process?

Accepted Answer

A) idea generation 
B) market testing 
C) business analysis 
D) development 
E) commercialization 
A) idea generation 
B) market testing 
C) business analysis 
D) development 
E) commercialization

Question 19

Consumer product classifications differ in terms of the: (1)effort the consumer spends on the decision; (2)frequency of purchase;and (3)

Accepted Answer

A) amount of money the customer is willing and able to spend. 
B) number of competing or substitute products. 
C) demographics of the consumer. 
D) attributes used in making the purchase decision. 
E) consumer segmentation characteristics. 
A) amount of money the customer is willing and able to spend. 
B) number of competing or substitute products. 
C) demographics of the consumer. 
D) attributes used in making the purchase decision. 
E) consumer segmentation characteristics.

Question 20

Define derived demand and provide an example NOT included in the text.

Accepted Answer

A major characteristic of business produ

Exam 10: Developing New Products and Services

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

The type of business products known as support products includes installations,accessory equipment,supplies,and __________.

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

Idea generation refers to

Convenience products refer to

According to Figure 10-2 above,column "B" represents a(n)

Because of the time,cost,and confidentiality problems of test markets,consumer packaged goods firms often turn to __________,a technique that replicates a full-scale test market to a limited degree.

Specialty products refer to

The most expensive stage in the new-product process for most products and services is

Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision?

If a new grocery product does not achieve a predetermined sales target,some retailers require a penalty payment by the manufacturer to compensate them for sales that its valuable shelf space was unable to generate.What is this type of payment called?

An extremely large machine for producing sheet metal from steel ingots would be classified as which kind of business products?

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as burial insurance)that a prospective buyer may not initially want.This type of consumer service is referred to as a(n)

A statement that identifies: (1)a well-defined target market; (2)specific customers' needs,wants,and preferences;and (3)what the product will be and do to satisfy consumers is referred to as a new product's or service's

Feature bloat is

Explain the difference between consumer products and business products.Why are some products difficult to categorize as one or the other? Give an example of a business product,a consumer product,and a product that is difficult to categorize.

Detailed financial projections and assessments of marketing and product synergies are a part of which stage of the new-product process?

Consumer product classifications differ in terms of the: (1)effort the consumer spends on the decision; (2)frequency of purchase;and (3)

Define derived demand and provide an example NOT included in the text.

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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