Question 1

How can a firm use a test market in its new-product development process?

Accepted Answer

Test marketing involves offering actual ...

Question 2

Open innovation may enhance the ________ stage of the new-product development process.

Accepted Answer

A)   internal collaboration
B)   screening and evaluation
C)   product development
D)   new-product strategy development
E)   idea generationF) B) and D)
G) None of the above

Question 3

Explain the differences in promotion between convenience, shopping, specialty, and unsought products.

Accepted Answer

Promotion for convenience products would...

Question 4

You greatly admire a set of Waterford crystal serving bowls you see at a dinner party and decide to buy two despite their cost of $250 each. They are only available in your area in a Waterford shop 40 miles from campus. Into which classification of consumer products would the Waterford crystal serving bowls fall?

Accepted Answer

A)   convenience products
B)   shopping products
C)   unsought products
D)   specialty products
E)   discretionary productsF) A) and D)
G) C) and D)

Question 5

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 marketsF) A) and B)
G) B) and D)

Question 6

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.F) B) and C)
G) B) and E)

Question 7

During which stage of the new-product development process are audiences allowed to preview actual movies like Aquaman or Spider-Man: Into the Spider-Verse (a sneak preview)  so that changes might be made before they are released to the general public?

Accepted Answer

A)   market testing
B)   business analysis
C)   commercialization
D)   screening and evaluation
E)   concept testingF) None of the above
G) B) and C)

Question 8

The tendency for some product developers to add additional features or functionality to a product that are not of any benefit to most consumers and unnecessarily add to the cost of the product is referred to as

Accepted Answer

A)   function exaggeration.
B)   product line extension.
C)   feature bloat.
D)   sensory overload.
E)   product differentiation.F) B) and E)
G) C) and D)

Question 9

The promotion for which product type would stress price, availability, and awareness?

Accepted Answer

A)   shopping
B)   convenience
C)   specialty
D)   unsought
E)   supplyF) C) and E)
G) B) and E)

Question 10

Detailed financial projections and determination if a new product could be protected with patents or copyright are a part of which stage of the new-product development process?

Accepted Answer

A)   idea generation
B)   market testing
C)   business analysis
D)   development
E)   commercializationF) A) and B)
G) A) and D)

Question 11

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.F) A) and E)
G) A) and B)

Question 12

Which of these is considered a service?

Accepted Answer

A)   hotel stay
B)   trash bags
C)   silverware
D)   washing machine
E)   freedomF) All of the above
G) B) and E)

Question 13

At Mattel, Barbie is child-tested to be sure the doll cannot be broken apart, creating pieces that could accidentally choke a child. This type of consumer or safety test occurs during the ________ stage of the new-product development process.

Accepted Answer

A)   new-product strategy development
B)   development
C)   business analysis
D)   screening and evaluation
E)   market testingF) C) and E)
G) A) and D)

Question 14

Developing a pool of concepts to serve as candidates for new products is the ________ stage of the new-product development process.

Accepted Answer

A)   open innovation
B)   screening and evaluation
C)   product development
D)   new-product strategy development
E)   idea generationF) B) and E)
G) A) and E)

Question 15

In terms of brand loyalty, consumers prefer specific brands but will accept substitutes for which type of consumer product?

Accepted Answer

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

Question 16

A product can be classified as new if it ________ from existing products.

Accepted Answer

A)   is functionally different
B)   is different in color, taste, or fragrance
C)   is different in its packaging
D)   is different in price
E)   requires a different distribution channelF) C) and D)
G) None of the above

Question 17

In terms of promotion, which of the following consumer product types stresses product differentiation from competitors but not status?

Accepted Answer

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

Question 18

The Vermont Teddy Bear Co. sells handmade teddy bears designed to be given as gifts for almost every occasion imaginable. The Love Bandit Bear is designed for people to give on Valentine's Day. The unique identification number that the Vermont Teddy Bear Co. uses to distinguish this teddy bear from the others in order to track it in the warehouse is called

Accepted Answer

A)   an inventory ID code.
B)   a QR code.
C)   a NAICS stock code.
D)   an order quantity code.
E)   a stock keeping unit.F) C) and D)
G) A) and B)

Question 19

If a firm contracts with IRI, a leading test market company, to track sales of a new product made to a panel of consumers and to assess the effectiveness of advertising and other promotion tactics, what type of test market is this?

Accepted Answer

A)   laboratory test market
B)   concept test market
C)   simulated test market
D)   controlled test market
E)   standard test marketF) None of the above
G) A) and B)

Question 20

A good, as opposed to a service or an idea, has tangible attributes that a consumer's ________ can perceive.

Accepted Answer

A)   cognitive intelligence
B)   vision
C)   knowledge of past experiences
D)   five senses
E)   emotional intelligenceF) B) and C)
G) None of the above

Exam 10: Developing New Products and Services

In terms of promotion, which of the following consumer product types stresses product differentiation from competitors but not status?

Correct Answer
verified

Open innovation may enhance the ________ stage of the new-product development process.

Correct Answer
verified

The tendency for some product developers to add additional features or functionality to a product that are not of any benefit to most consumers and unnecessarily add to the cost of the product is referred to as

Correct Answer
verified

Which of these is considered a service?

Correct Answer
verified

At Mattel, Barbie is child-tested to be sure the doll cannot be broken apart, creating pieces that could accidentally choke a child. This type of consumer or safety test occurs during the ________ stage of the new-product development process.

Correct Answer
verified

IDEO is a company that

Correct Answer
verified

Detailed financial projections and determination if a new product could be protected with patents or copyright are a part of which stage of the new-product development process?

Correct Answer
verified

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

Correct Answer
verified

If a firm contracts with IRI, a leading test market company, to track sales of a new product made to a panel of consumers and to assess the effectiveness of advertising and other promotion tactics, what type of test market is this?

Correct Answer
verified

Correct Answer
verified

During which stage of the new-product development process are audiences allowed to preview actual movies like Aquaman or Spider-Man: Into the Spider-Verse (a sneak preview) so that changes might be made before they are released to the general public?

Correct Answer
verified

Explain the differences in promotion between convenience, shopping, specialty, and unsought products.

Correct Answer
verified
Promotion for convenience products would...
View Answer

A good, as opposed to a service or an idea, has tangible attributes that a consumer's ________ can perceive.

Correct Answer
verified

With respect to price and availability, shopping products are likely to be

Correct Answer
verified

The promotion for which product type would stress price, availability, and awareness?

Correct Answer
verified

Developing a pool of concepts to serve as candidates for new products is the ________ stage of the new-product development process.

Correct Answer
verified

How can a firm use a test market in its new-product development process?

Correct Answer
verified
Test marketing involves offering actual ...
View Answer

In terms of brand loyalty, consumers prefer specific brands but will accept substitutes for which type of consumer product?

Correct Answer
verified

Correct Answer
verified

A product can be classified as new if it ________ from existing products.

Correct Answer
verified

Exam 10: Developing New Products and Services

In terms of promotion, which of the following consumer product types stresses product differentiation from competitors but not status?

Correct AnswerverifiedShow Answer

Open innovation may enhance the ________ stage of the new-product development process.

Correct AnswerverifiedShow Answer

The tendency for some product developers to add additional features or functionality to a product that are not of any benefit to most consumers and unnecessarily add to the cost of the product is referred to as

Correct AnswerverifiedShow Answer

Which of these is considered a service?

Correct AnswerverifiedShow Answer

At Mattel, Barbie is child-tested to be sure the doll cannot be broken apart, creating pieces that could accidentally choke a child. This type of consumer or safety test occurs during the ________ stage of the new-product development process.

Correct AnswerverifiedShow Answer

IDEO is a company that

Correct AnswerverifiedShow Answer

Detailed financial projections and determination if a new product could be protected with patents or copyright are a part of which stage of the new-product development process?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

If a firm contracts with IRI, a leading test market company, to track sales of a new product made to a panel of consumers and to assess the effectiveness of advertising and other promotion tactics, what type of test market is this?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

During which stage of the new-product development process are audiences allowed to preview actual movies like Aquaman or Spider-Man: Into the Spider-Verse (a sneak preview) so that changes might be made before they are released to the general public?

Correct AnswerverifiedShow Answer

Explain the differences in promotion between convenience, shopping, specialty, and unsought products.

Correct AnswerverifiedPromotion for convenience products would...View AnswerShow Answer

A good, as opposed to a service or an idea, has tangible attributes that a consumer's ________ can perceive.

Correct AnswerverifiedShow Answer

With respect to price and availability, shopping products are likely to be

Correct AnswerverifiedShow Answer

The promotion for which product type would stress price, availability, and awareness?

Correct AnswerverifiedShow Answer

Developing a pool of concepts to serve as candidates for new products is the ________ stage of the new-product development process.

Correct AnswerverifiedShow Answer

How can a firm use a test market in its new-product development process?

Correct AnswerverifiedTest marketing involves offering actual ...View AnswerShow Answer

In terms of brand loyalty, consumers prefer specific brands but will accept substitutes for which type of consumer product?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

A product can be classified as new if it ________ from existing products.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Promotion for convenience products would...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
Test marketing involves offering actual ...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified