Question 1

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

The answer of Explain the difference between consumer products and...

Question 2

Items for which the consumer compares several alternatives on several criteria such as price,quality,or style are referred to as

Accepted Answer

A) specialty products. 
B) selective products. 
C) shopping products. 
D) prestige products. 
E) convenience products.

Question 3

Which of the following is considered a service?

Accepted Answer

A) presidential candidate 
B) bicycle 
C) taco 
D) cab ride 
E) environmentalism

Question 4

A product that requires the learning of entirely new consumption patterns among consumers is referred to as a(n)

Accepted Answer

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

Question 5

If you are using a marketing dashboard to discover which cities in Florida are not meeting their sales growth goal for your sunscreen products,which of the following metrics should be used to measure sales performance?

Accepted Answer

A) consumer awareness 
B) shelf space for this year and last year by city 
C) production costs 
D) customer psychographics 
E) annual percent sales change by city

Question 6

The new-product development process is

Accepted Answer

A) the informal process of brainstorming to generate new-product concepts at a marketing staff meeting. 
B) the process of presenting cross-functional teams with a written new-product concept statement and asking them to respond to it in writing. 
C) the seven stages an organization goes through to identify business opportunities and convert them into salable products or services. 
D) the two stages an organization goes through from idea generation to commercialization. 
E) a formalized protocol for new-product development that begins at the corporate level and ends at the functional level.

Question 7

Newman's Own is a company that gives all of its profits to charities.The company produces popcorn,salsa,pasta sauces,and salad dressings under the Newman's Own brand name.These product lines comprise the company's

Accepted Answer

A) product mix. 
B) stock keeping units. 
C) product category. 
D) product class. 
E) marketing category.

Question 8

IDEO is a company that

Accepted Answer

A) creates innovative promotional programs for its clients' new products. 
B) developed the formal Stage-Gate® process to commercialize new products for its clients. 
C) uses "design thinking" to develop new products for other organizations. 
D) rates new products like Consumer Reports. 
E) runs patent searches for companies that don't have an internal legal department.

Question 9

Business products are

Accepted Answer

A) products organizations buy that assist in providing other products for resale. 
B) supplies necessary for the day-to-day operations of a business. 
C) ancillary services necessary for the operation of a business. 
D) products that are sold exclusively to for-profit businesses. 
E) products purchased by the ultimate consumer.

Question 10

After gaining widespread attention with the media,as well as popularity with teens,hoverboards made by a variety of manufacturers were found to catch fire or explode.Hoverboard sales suffered greatly as a result of which common reason for product failure?

Accepted Answer

A) not satisfying customer needs on critical factors 
B) poor product quality 
C) poor execution of the marketing mix 
D) an insignificant point of difference 
E) bad timing

Question 11

An assessment of the "business fit" of the proposed new product,from whether it can be economically produced to the marketing strategy needed to have it succeed,takes place during which stage of the new-product development process?

Accepted Answer

A) business analysis 
B) screening and evaluation 
C) new-product strategy development 
D) development 
E) every stage with the exception of new-product strategy development

Question 12

Figure 10-1
 
-With respect to price and availability,shopping products are likely to be

Accepted Answer

A) relatively inexpensive and widely available. 
B) relatively inexpensive but very limited availability. 
C) very expensive and available at a large number of selective outlets. 
D) very expensive with very limited availability. 
E) fairly expensive and available at a large number of selective outlets.

Question 13

Figure 10-1
 
-With respect to promotion,which of the following strategies would most likely be used for unsought products?

Accepted Answer

A) offering consumer and trade sales promotions 
B) establishing the uniqueness and status of the brand 
C) generating awareness 
D) differentiating the brand from competitive brands 
E) stressing price and availability in advertising

Question 14

To save time and money,companies often turn to ________,a technique that somewhat replicates a full-scale test market.

Accepted Answer

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

Question 15

A full-scale operating model of the product or service under development is referred to as a

Accepted Answer

A) sample. 
B) framework. 
C) template. 
D) prototype. 
E) blueprint.

Question 16

There are seven stages of the new-product development process.The last stage is

Accepted Answer

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

Question 17

When General Mills introduced Fingos,a corn chip-sized sweetened cereal flake,it assumed that its customers would normally snack on them dry like a potato chip.Unfortunately,consumers did not switch from munching on popcorn and potato chips.The primary reason for the failure of Fingos was

Accepted Answer

A) an insignificant point of difference-consumers wouldn't switch from competing snacks. 
B) too little market attractiveness-the growth in the snacks market is declining. 
C) poor execution of the marketing mix-General Mills did not offer free samples at grocery stores. 
D) poor product quality-the chips were not the same size. 
E) incomplete market and product protocol-the brand name Fingos did not get consumers excited.

Question 18

In the new-product development process,product ideas that survive the business analysis stage proceed to the ________ stage.

Accepted Answer

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

Question 19

During the first stage of the new-product development process,two important activities take place.They are

Accepted Answer

A) a SWOT analysis and environmental scanning. 
B) open innovation and business analysis. 
C) concept testing and product forecasting. 
D) R&D and operations setup. 
E) environmental scanning and open innovation.

Question 20

There are seven stages of the new-product development process.After screening and evaluation is stage 4,the ________ stage.

Accepted Answer

A) idea generation 
B) creative direction 
C) business analysis 
D) new-product strategy development 
E) market testing

Exam 10: Developing New Products and Services