Question 1

When determining how a product is conceived, planned, produced, and even its physical appearance and its specific characteristics, one is really talking about the product's

Accepted Answer

A) positioning. 
B) level and consistency of quality. 
C) ability to meet customer service needs. 
D) design, styling, and level of quality. 
E) design, styling, and features.

Question 2

In general, differences between goods and services are determined by the

Accepted Answer

A) degree of labor intensiveness. 
B) type of target market. 
C) degree of tangibility. 
D) type of provider. 
E) degree of consumer contact.

Question 3

Kyle Bolger of U.S. Hospital Supply Corporation has responsibility for managing the marketing activities for products aimed at nursing homes and extended care facilities. Kyle's job is that of a(n)

Accepted Answer

A) product manager. 
B) area manager. 
C) director of operations. 
D) market manager. 
E) sales coordinator.

Question 4

Many of the so-called new products that are launched each year are in fact line extensions.

Accepted Answer

A) True 
 B)False

Question 5

The test-marketing stage

Accepted Answer

A) is an extension of the screening stage. 
B) should come immediately after business analysis. 
C) ensures that the product will not fail. 
D) is a sample launching of the entire marketing mix. 
E) prevents competitors from copying the product.

Question 6

Quality modifications never seek to reduce product quality.

Accepted Answer

A) True 
 B)False

Question 7

The overall characteristics of a product that allow it to perform as expected in satisfying customer needs is

Accepted Answer

A) quality. 
B) consistency. 
C) durability. 
D) styling. 
E) design.

Question 8

Line extensions are less common than other new products because line extensions are more expensive and more risky.

Accepted Answer

A) True 
 B)False

Question 9

Kathy Adkins, owner of Adkins Styling Salon, looks at the day's appointment schedule and notices that it is completely full. She wishes some of the empty slots from earlier in the week were available on this Saturday afternoon. Her thoughts deal with the ____ characteristic of services.

Accepted Answer

A) credence 
B) heterogeneity 
C) perishability 
D) search 
E) inseparability

Question 10

Concept testing gives reliable feedback, but at a relatively high cost.

Accepted Answer

A) True 
 B)False

Question 11

Breakeven analysis is a tool that marketers are likely to employ during the ____ stage of the new-product development process.

Accepted Answer

A) screening 
B) concept testing 
C) business analysis 
D) product development 
E) test marketing

Question 12

Victor thinks that a Lexus coupe is a quality vehicle, yet compared to a Mercedes Benz, he feels the quality of a Lexus is not as high. This demonstrates that the dimension of ____ is relative or difficult to describe without a basis of comparison.

Accepted Answer

A) consistency of quality 
B) level of quality 
C) differentiation 
D) product features 
E) product positioning

Question 13

Lauren is a concert promoter who works for pop star Justin Timberlake. She works very hard to make sure most of Justin's concerts are sold out because she understands the concept of perishability, which means

Accepted Answer

A) because the concert is not tangible, customers will have a difficult time judging its quality in advance. 
B) the production of the concert and the consumption of the concert by the fans cannot be separated so tickets must be sold. 
C) a high level of interaction will exist between the customers and the musicians, which makes the customers' presence necessary. 
D) that if the tickets are not sold, seats will remain empty and they can never be sold to anyone again. 
E) that each concert is different and customers will miss a unique experience if they are not present at the concert.

Question 14

The product development stage determines the technical feasibility of producing the new product.

Accepted Answer

A) True 
 B)False

Question 15

A brand manager is a type of product manager.

Accepted Answer

A) True 
 B)False

Question 16

List and discuss the major phases of the new-product development process.

Accepted Answer

The answer of List and discuss the major phases of...

Question 17

The members of a venture team come from

Accepted Answer

A) the marketing department. 
B) a consulting firm. 
C) the research and development department. 
D) the production and finance departments. 
E) different functional areas of an organization.

Question 18

What is the primary distinction between a line extension and a product modification?

Accepted Answer

A) A product modification results in a completely new product while a line extension is simply changing an old product. 
B) In both cases an existing product is altered, but the alteration is more dramatic with a product modification than it is with a line extension. 
C) Line extensions are designed to better meet the needs of the existing market segment while product modifications target entirely new segments of the market. 
D) With product modifications, the original product is replaced in the product line while both the old and the new products remain in the case of line extension. 
E) Line extensions are strictly aesthetic changes to an existing product whereas product modifications consist of changes in quality and functionality.

Question 19

A runout approach to product deletion lets the product decline without changing the marketing strategy.

Accepted Answer

A) True 
 B)False

Question 20

Schwinn adds features to its bicycles no other companies offer in order to create

Accepted Answer

A) commercialization. 
B) consistency of quality. 
C) styling. 
D) product positioning. 
E) product differentiation.

Exam 11: Developing and Managing Goods and Services

When determining how a product is conceived, planned, produced, and even its physical appearance and its specific characteristics, one is really talking about the product's

In general, differences between goods and services are determined by the

Kyle Bolger of U.S. Hospital Supply Corporation has responsibility for managing the marketing activities for products aimed at nursing homes and extended care facilities. Kyle's job is that of a(n)

Many of the so-called new products that are launched each year are in fact line extensions.

The test-marketing stage

Quality modifications never seek to reduce product quality.

The overall characteristics of a product that allow it to perform as expected in satisfying customer needs is

Line extensions are less common than other new products because line extensions are more expensive and more risky.

Kathy Adkins, owner of Adkins Styling Salon, looks at the day's appointment schedule and notices that it is completely full. She wishes some of the empty slots from earlier in the week were available on this Saturday afternoon. Her thoughts deal with the ____ characteristic of services.

Concept testing gives reliable feedback, but at a relatively high cost.

Breakeven analysis is a tool that marketers are likely to employ during the ____ stage of the new-product development process.

Victor thinks that a Lexus coupe is a quality vehicle, yet compared to a Mercedes Benz, he feels the quality of a Lexus is not as high. This demonstrates that the dimension of ____ is relative or difficult to describe without a basis of comparison.

Lauren is a concert promoter who works for pop star Justin Timberlake. She works very hard to make sure most of Justin's concerts are sold out because she understands the concept of perishability, which means

The product development stage determines the technical feasibility of producing the new product.

A brand manager is a type of product manager.

List and discuss the major phases of the new-product development process.

The members of a venture team come from

What is the primary distinction between a line extension and a product modification?

A runout approach to product deletion lets the product decline without changing the marketing strategy.

Schwinn adds features to its bicycles no other companies offer in order to create