Question 1

The ________ requires sellers to provide detailed nutritional information on all prepackaged food products.
Fair Packaging and Labeling Act of 1966
Consumer Packaging and Labelling Act.
Labeling Act of 1970
Packaging Act of 1970
Federal Trade Commission Act of 1914

Accepted Answer

The answer of The ________ requires sellers to provide detailed...

Question 2

Give two examples of fads that passed through the PLC quickly.

Accepted Answer

The answer of Give two examples of fads that passed...

Question 3

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process.
business feasibility
feasibility study
business analysis
product acceptance
concept testing

Accepted Answer

The answer of Once managers of The Grecian Urn have...

Question 4

Companies need to pay attention to their aging products.Management should regularly review sales, market shares, costs, and profit trends, and then decide whether to maintain, harvest, or drop these declining products.

Accepted Answer

A) True 
 B)False

Question 5

Sony offers consumers more than just camcorders; it provides consumers with a complete solution to their picture-taking problems.This offering is called an augmented product.

Accepted Answer

A) True 
 B)False

Question 6

________ calls for testing new-product concepts with groups of target consumers.
Concept development
Concept testing
Idea generation
Idea screening
Test marketing

Accepted Answer

The answer of ________ calls for testing new-product concepts with...

Question 7

The maturity stage of the PLC is characterized by a slowdown in sales growth.

Accepted Answer

A) True 
 B)False

Question 8

When sales of a product falter during the PLC, a company can take several approaches.The more common ones are to modify the marketing mix, modify the product, or modify the market.

Accepted Answer

A) True 
 B)False

Question 9

When the Twin Six Cafe provides gourmet menu options to its customers, as well as impeccable service-which even allows customers to hand-select their own cuts of meat-________ is/are evident.
only an actual product
only an augmented product
only a core benefit
both a core benefit and an actual product
a core benefit, an actual product, and an augmented product

Accepted Answer

The answer of When the Twin Six Cafe provides gourmet...

Question 10

Which term best describes the following statement? "Campbell's products are highly uniform in that they perform similar functions for buyers and are available via the same distribution channels."
marketing length
marketing height
product mix consistency
marketing strategic perimeter
marketing mix depth

Accepted Answer

The answer of Which term best describes the following statement?...

Question 11

What are the two ways that a company can obtain new products?
line extension and brand management
internal development and merger
new-product development and acquisition
service development and product extension
market mix modification and research and development

Accepted Answer

The answer of What are the two ways that a...

Question 12

A ________ is defined as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.
private brand
service variability
service
product
service encounter

Accepted Answer

The answer of A ________ is defined as anything that...

Question 13

To test the product concept of a new idea, the R&D department of a firm will develop a prototype that will excite consumers and can be produced quickly at budgeted costs.

Accepted Answer

A) True 
 B)False

Question 14

Product planners consider products and services on three levels.The most basic level is the ________, which addresses the question, "What is the buyer really buying?"
actual product
augmented product
core customer value
co-branding
exchange

Accepted Answer

The answer of Product planners consider products and services on...

Question 15

What are two major sources of new-product ideas?
internal sources and external sources
core-member sources and non-core-member sources
government sources and non-government sources
direct competitor sources and indirect competitor sources
distributor sources and non-distributor sources

Accepted Answer

The answer of What are two major sources of new-product...

Question 16

What are the stages, in correct order, of the product life cycle?
Introduction, Maturity, Growth, and Decline
Introduction, Growth, Decline, and Maturity
Introduction, Growth, Maturity, and Decline
Growth, Introduction, Maturity, and Decline
Decline, Introduction, Growth, and Maturity

Accepted Answer

The answer of What are the stages, in correct order,...

Question 17

New product development begins with a systematic search for new product ideas through idea generation.

Accepted Answer

A) True 
 B)False

Question 18

A firm can obtain new products in two ways: acquisition or new-product development.

Accepted Answer

A) True 
 B)False

Question 19

GreenTree Lawn and Garden Products is engaged in marketing strategy development.Management should first create a statement outlining the product's planned price, distribution, and marketing budget for the first year.

Accepted Answer

A) True 
 B)False

Exam 8: Developing and Managing Products and Services

The ________ requires sellers to provide detailed nutritional information on all prepackaged food products. Fair Packaging and Labeling Act of 1966 Consumer Packaging and Labelling Act. Labeling Act of 1970 Packaging Act of 1970 Federal Trade Commission Act of 1914

Give two examples of fads that passed through the PLC quickly.

Companies need to pay attention to their aging products.Management should regularly review sales, market shares, costs, and profit trends, and then decide whether to maintain, harvest, or drop these declining products.

Sony offers consumers more than just camcorders; it provides consumers with a complete solution to their picture-taking problems.This offering is called an augmented product.

________ calls for testing new-product concepts with groups of target consumers. Concept development Concept testing Idea generation Idea screening Test marketing

The maturity stage of the PLC is characterized by a slowdown in sales growth.

When sales of a product falter during the PLC, a company can take several approaches.The more common ones are to modify the marketing mix, modify the product, or modify the market.

What are the two ways that a company can obtain new products? line extension and brand management internal development and merger new-product development and acquisition service development and product extension market mix modification and research and development

A ________ is defined as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need. private brand service variability service product service encounter

To test the product concept of a new idea, the R&D department of a firm will develop a prototype that will excite consumers and can be produced quickly at budgeted costs.

Product planners consider products and services on three levels.The most basic level is the ________, which addresses the question, "What is the buyer really buying?" actual product augmented product core customer value co-branding exchange

What are two major sources of new-product ideas? internal sources and external sources core-member sources and non-core-member sources government sources and non-government sources direct competitor sources and indirect competitor sources distributor sources and non-distributor sources

What are the stages, in correct order, of the product life cycle? Introduction, Maturity, Growth, and Decline Introduction, Growth, Decline, and Maturity Introduction, Growth, Maturity, and Decline Growth, Introduction, Maturity, and Decline Decline, Introduction, Growth, and Maturity

New product development begins with a systematic search for new product ideas through idea generation.

A firm can obtain new products in two ways: acquisition or new-product development.

GreenTree Lawn and Garden Products is engaged in marketing strategy development.Management should first create a statement outlining the product's planned price, distribution, and marketing budget for the first year.