Deck 8: Product I: Innovation and New Product Development

Question 1

Which of the following adjectives best describes products that would be classified as goods?

A) nonperishable
B) convenient
C) disposable
D) tangible
E) heterogeneous

Answer 1

D

Question 2

Which of the following is the best example of a durable good?

A) a bag of cat food
B) a refrigerator
C) a bottle of nail polish
D) a package of lightbulbs
E) a box of detergent

Answer 2

B

Question 3

Explain the following statement: "A product is a bundle of attributes."

Answer 3

A product is not just a thing in a package. It includes the package, the brand name, the product benefits, and supporting features in addition to the physical good. A product is everything a consumer receives in an exchange. This question can also be answered in terms of the core product, the actual product, and the augmented product.

Question 4

The ________ is the actual product plus supporting features, such as delivery, installation, financing, and warranty.

A) brand
B) innovation
C) augmented product
D) potential product
E) core product

Question 5

A product has three distinct layers. The second layer is the ________, which is the physical good or delivered service.

A) actual product
B) augmented product
C) core product
D) innovation
E) brand

Question 6

Explain the three layers of the product the marketer needs to understand to adequately serve the consumer.

Question 7

The ________ for a guest paying for a night's stay at a hotel is the use of a bed, bathroom, towels, dresser, light, and closet.

A) actual product
B) core product
C) value-deliverable product
D) customized benefit
E) augmented product

Question 8

________ are a form of product that are essentially intangible.

A) Innovations
B) Services
C) Brands
D) Consumer products
E) Supplements

Question 9

Is marketing more about supplying benefits or attributes? Explain your answer.

Question 10

Generally, consumer goods are either ________ or ________.

A) convenience products; staples
B) durable goods; nondurable goods
C) industrial products; packaged goods
D) shopping products; impulse products
E) shopping products; convenience products

Question 11

The ________ for a guest paying for a night's stay at a hotel would include express checkout and superb room service.

A) actual product
B) value network
C) augmented product
D) potential product
E) core product

Question 12

The ________ for a guest paying for a night's stay at a hotel is rest and sleep.

A) generic product
B) core product
C) value-deliverable product
D) augmented product
E) actual product

Question 13

Which of the following is an example of a good?

A) a massage
B) a handbag
C) a medical examination by a doctor
D) an idea for a new television show
E) dry cleaning

Question 14

The state of Missouri is a product that can be promoted as a great place to locate a new business.

Question 15

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

A) a dishwasher
B) a book shelf
C) a freezer
D) a newspaper
E) a file cabinet

Question 16

A(n) ________ is defined as a tangible good, service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process.

A) augmented product
B) service
C) core product
D) product
E) innovation

Question 17

We consume ________ in the short term rather than the long term.

A) unsought products
B) specialty products
C) raw materials
D) durable goods
E) nondurable goods

Question 18

We are more likely to purchase ________ under conditions of high involvement and ________ under conditions of low involvement.

A) durable goods; nondurable goods
B) nondurable goods; durable goods
C) staples; impulse products
D) impulse products; staples
E) emergency products; unsought products

Question 19

Which of the following statements about durable goods is true?

A) Durable goods are more likely than perishable goods to involve low-involvement decisions.
B) The information search is quicker for durable goods than it is for nondurable goods.
C) Consumers purchasing durable goods are likely to use habitual decision making.
D) Product evaluation is more likely to take place for nondurable goods than for durable goods.
E) Durable goods provide a benefit over a long period of time.

Question 20

A product has three distinct layers. The most basic level is the ________, which consists of all the benefits the product will provide for consumers or business customers.

A) actual product
B) augmented product
C) core product
D) innovation
E) brand

Question 21

A(n) ________ is a good or service for which consumers will spend time and effort gathering information on price, product attributes, and product quality.

A) impulse product
B) consumer packaged good
C) shopping product
D) convenience product
E) emergency product

Question 22

When we need a(n) ________, price and product quality may be irrelevant to our purchase decision.

A) emergency product
B) staple product
C) impulse product
D) shopping product
E) unsought product

Question 23

In the business market, organizational customers purchase products from the fishing and agricultural industries to use in their finished products. These are examples of ________.

A) component parts
B) accessory equipment
C) processed materials
D) MRO products
E) raw materials

Question 24

For the business market, a multipurpose absorbent used to clean up any type of spills would be an example of a(n) ________.

A) repair product
B) operating supply
C) maintenance product
D) restoration product
E) consumer product

Question 25

________ include convenience products, shopping products, specialty products, and unsought products.

A) Fast moving consumer goods
B) Consumer products
C) MRO products
D) Industrial products
E) Component products

Question 26

________ have unique characteristics that are important to buyers at almost any price.

A) Specialty products
B) Staple products
C) Impulse products
D) MRO products
E) Unsought products

Question 27

For a veterinarian's office, the paper used to print payment receipts is an example of a(n) ________.

A) repair product
B) operating supply
C) maintenance product
D) component part
E) raw material

Question 28

A fast-moving consumer good, also known as a(n) ________, is a low-cost good that people consume quickly and replace frequently.

A) impulse product
B) emergency product
C) consumer packaged good
D) specialty good
E) shopping product

Question 29

Which type of product is a basic or necessary item that is available almost everywhere?

A) emergency product
B) staple product
C) impulse product
D) shopping product
E) unsought product

Question 30

________ is the category of B2B products that refers to the products an organization uses in its daily operations.

A) Raw materials
B) Component parts
C) Equipment
D) Processed materials
E) MRO products

Question 31

In terms of B2B products, computers and printers are examples of ________.

A) component parts
B) capital equipment
C) accessory equipment
D) operating supplies
E) specialized services

Question 32

________ are manufactured goods or subassemblies of finished items that organizations need to complete their own products.

A) Component parts
B) Accessory equipment materials
C) Processed materials
D) MRO products
E) Raw materials

Question 33

MRO products are goods that businesses use for ________.

A) management, research, and ordering
B) marketing, relationship-building, and operating
C) maintenance, research, and organizing
D) maintenance, repair, and operating
E) marketing, research, and organizing

Question 34

Which of the following is the best example of a convenience product?

A) a silk scarf
B) a subscription to a magazine
C) a gallon of milk
D) a lawn mower
E) a CD player

Question 35

Which of the following products would most consumers classify as a shopping product?

A) a subscription to the Wall Street Journal
B) a winter coat
C) a box of adhesive bandages
D) a can of soup
E) a pack of gum

Question 36

A(n) ________ is typically a nondurable good or service that consumers purchase frequently with a minimum of comparison and effort.

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

Question 37

________ are consumer products for which a consumer either has little awareness or interest until a need arises. These products require a lot of advertising, personal selling, and other marketing efforts.

A) Specialty products
B) MRO products
C) Unsought products
D) Shopping products
E) Staple products

Question 38

Consumers usually know a good deal about ________ and are loyal to specific brands.

A) specialty products
B) unsought products
C) impulse products
D) MRO products
E) emergency products

Question 39

Heavy equipment, which includes items such as buildings and robotics, is also referred to as ________.

A) component parts
B) capital equipment
C) accessory equipment
D) operating supplies
E) specialized services

Question 40

Marketers classify convenience products as ________.

A) staple products, impulse products, and emergency products
B) specialty products, shopping products, and unsought products
C) core products, actual products, and augmented products
D) generic products and branded products
E) attribute-based products and price-based products

Question 41

Marissa arrived early for her job interview. She was very excited about the opportunity to interview for a prestigious position. As she got out of the car, she got a run in her pantyhose. She was pleased to see a convenience store down the road and went there to purchase a replacement pair of pantyhose. For Marissa, the pantyhose is an example of a(n) ________.

A) unsought product
B) impulse product
C) staple
D) emergency product
E) MRO product

Question 42

The purchase of a specialty product typically involves extended problem solving for the consumer.

Question 43

Tony wanted to buy a pair of binoculars, but not just any brand. He wanted to buy a pair of Steiner Nighthunters, just like the pair he had learned about in his newest copy of Peter's Hunt Magazine. He had to visit five different sporting goods stores before he found this brand. For Tony, the Steiner Nighthunter is an example of a(n) ________.

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

Question 44

Marketers classify products based on where and how consumers buy the products.

Question 45

Explain why the price and perhaps the quality of an emergency product may not be an issue at the time of purchase.

Question 46

At a retail store, the display racks on which clothes are hung, the shelving, and the cash registers are all examples of ________.

A) accessory equipment
B) shopping products
C) capital equipment
D) component parts
E) MRO products

Question 47

How are processed materials different from raw materials?

Question 48

The vehicle jack and other hand tools carried by a truck driver in case of a flat tire are examples of which type of business product?

A) repair products
B) operating supplies
C) maintenance products
D) light equipment
E) component parts

Question 49

The purchase of a shopping product typically involves habitual consumer decision making.

Question 50

Explain why consumers may not "sweat the details" when they choose among nondurable goods but have a higher level of involvement when they choose among durable goods.

Question 51

An Internet company helps other online businesses with handling distribution bottlenecks, including managing tariffs and exchange rates for international shipping. This company provides a(n) ________.

A) component service
B) processed product
C) MRO product
D) specialized service
E) MRO service

Question 52

Some business customers purchase specialized services that are essential to the operation of an organization but not part of the production of a product.

Question 53

Nondurable goods are more likely than durable goods to be purchased under conditions of high involvement.

Question 54

For an amusement park, concession food stands and the amusement rides themselves are examples of ________.

A) MRO products
B) specialty products
C) processed materials
D) equipment
E) convenience products

Question 55

Camille was standing in the checkout line at her neighborhood grocery last night when she saw a display of Hostess Twinkies. She remembered how much she had enjoyed Twinkies as a child, and she knew she just had to buy a package of Twinkies, even though it was not on her shopping list. For Camille, Twinkies are an example of a(n) ________.

A) unsought product
B) impulse product
C) staple
D) emergency product
E) MRO product

Question 56

Explain impulse products. Identify two challenges marketers may have regarding impulse products.

Question 57

The Federal Trade Commission says that a product may be called new for only ________.

A) three months
B) six months
C) nine months
D) one year
E) two years

Question 58

In business-to-business products, what is the difference between capital equipment and accessory equipment?

Question 59

Explain durable and nondurable goods. Give an example of each.

Question 60

Compare and contrast the three types of convenience products.

Question 61

It's usually easier to convince customers to adopt a continuous innovation than a discontinuous innovation.

Question 62

A ________ is a modification to an existing product.

A) technical innovation
B) continuous innovation
C) discontinuous innovation
D) commercial innovation
E) dynamically discontinuous innovation

Question 63

Prior to the development of the cardiac stent, surgeons used balloons to clear obstructed heart vessels, but there was no way to ensure the vessels would stay open. The stent is a tiny metal scaffold that props open the formerly obstructed blood vessel and keeps it from becoming obstructed again. Surgeons who use the stent had to engage in a great deal of learning to understand its use and its value in patient care. There was nothing like the stent on the market when it first appeared. The cardiac stent is an example of a ________.

A) dynamically continuous innovation
B) nonradical innovation
C) competitive innovation
D) continuous innovation
E) discontinuous innovation

Question 64

A(n) ________ is a new product that copies, with slight modification, the design of an original product.

A) augmented product
B) discontinuous innovation
C) dynamically continuous innovation
D) continuous innovation
E) knockoff

Question 65

Consumers must engage in a great amount of learning to use a(n) ________ because no similar product has ever been on the market.

A) dynamically continuous innovation
B) augmented product
C) competitive innovation
D) continuous innovation
E) discontinuous innovation

Question 66

Even though most people in the original target market for electric toothbrushes already knew how to brush their teeth, consumers still had some learning to do in order to make good use of the new brushing technique. The electric toothbrush is an example of a ________.

A) dynamically continuous innovation
B) nonradical innovation
C) competitive innovation
D) knockoff
E) discontinuous innovation

Question 67

The first phase of new product development is ________.

A) problem recognition
B) product concept screening
C) idea generation
D) product concept development
E) business analysis

Question 68

How do marketers define innovation?

Question 69

A consumer doesn't have to learn anything new to use a(n) ________.

A) dynamically continuous innovation
B) augmented product
C) converged product
D) continuous innovation
E) discontinuous innovation

Question 70

Marketers classify innovations based on their ________.

A) degree of newness
B) cost to manufacture
C) prices
D) creativity
E) rate of diffusion

Question 71

Pepsi-Cola's development of Wild Cherry Pepsi, a cherry-flavored soda, is an example of a ________.

A) dynamically continuous innovation
B) nonradical innovation
C) competitive innovation
D) continuous innovation
E) discontinuous innovation

Question 72

The built-in, fold-down child seats, designed to replace traditional car seats and booster seats, such as those found in Chrysler minivans are an example of a ________.

A) dynamically continuous innovation
B) nonradical innovation
C) competitive innovation
D) continuous innovation
E) discontinuous innovation

Question 73

Why would a company create a knockoff of a product?

Question 74

The more innovative a new product is, the more quickly it will spread throughout a population.

Question 75

A convergence is a type of discontinuous innovation.

Question 76

Marketers classify innovations into three categories based on their degree of newness. Explain these categories, identifying the role the consumer has in each.

Question 77

From a marketing standpoint, a new product is anything that customers perceive as new and different.

Question 78

The addition of sugar-free canned fruits to Del Monte's line of canned fruits and vegetables is an example of a discontinuous innovation.

Question 79

What might a firm measure in order to examine its level of innovation?

Question 80

A(n) ________ is a pronounced modification to an existing product that requires a modest amount of learning or change in behavior to use it.

A) dynamically continuous innovation
B) augmented product
C) competitive innovation
D) continuous innovation
E) discontinuous innovation