Question 1

Business products are also referred to as

Accepted Answer

A)   commodities.
B)   industrial products.
C)   wares.
D)   resale products.
E)   merchandise.F) C) and D)
G) B) and E)

Question 2

The stage of the new-product development process that defines the role for a new product in terms of the firm's overall objectives is referred to as

Accepted Answer

A)   distinctive competency determination.
B)   new-product strategy development.
C)   strategic marketing process.
D)   strategic invention process.
E)   product protocol definition.F) All of the above
G) A) and B)

Question 3

Consumer products are

Accepted Answer

A)   products used in the production of other items.
B)   products purchased by the ultimate consumer.
C)   products an industrial buyer will make an effort to seek out and buy.
D)   items purchased frequently and with a minimum of shopping effort.
E)   products that assist directly or indirectly in providing products for resale.F) A) and E)
G) C) and D)

Question 4

Unsought products are

Accepted Answer

A)   any products associated with impulse buys at the supermarket checkout counter.
B)   products that were once very popular but that have become obsolete because they are in the decline stage of their product life cycle.
C)   items within a company's product line that do not perform as well as others in the line.
D)   products that the consumer does not know about or knows about but does not initially want.
E)   products that people choose to ignore because they find them offensive from a moral or ethical perspective.F) C) and E)
G) A) and B)

Question 5

Products such as tools and repair services that are used to assist in producing other products and services are

Accepted Answer

A)   components.
B)   complementary products.
C)   support products.
D)   derived products.
E)   materials.F) C) and D)
G) D) and E)

Question 6

Among consumer products, advertising is especially important for

Accepted Answer

A)   durable goods.
B)   specialty products.
C)   nondurable goods.
D)   production goods.
E)   undifferentiated goods.F) A) and E)
G) D) and E)

Question 7

In terms of price, which type of consumer product would be relatively inexpensive?

Accepted Answer

A)   shopping product
B)   convenience product
C)   specialty product
D)   unsought product
E)   suppliesF) A) and C)
G) None of the above

Question 8

In terms of brand loyalty, consumers are very brand loyal and will not 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) A) and D)
G) A) and B)

Question 9

Concept tests are part of which stage in the new-product development process?

Accepted Answer

A)   development
B)   screening and evaluation
C)   idea generation
D)   new-product strategy development
E)   business analysisF) A) and E)
G) C) and D)

Question 10

In addition to seeking ideas from more well-known sources, organizations also get ideas from universities, inventors, and smaller, nontraditional firms. For example, General Mills partnered with Brigham Young University to license its patent for

Accepted Answer

A)   scones with coffee-flavored cream frosting.
B)   an Omega-3 enriched SKU for the Philadelphia cream cheese line.
C)   a carbonated yogurt called Go-Gurt Fizzix.
D)   deep fried chicken skins for people who cannot eat pork.
E)   a crispy baked macaroni and cheese snack that can be eaten out of a bag like Cheetos.F) C) and D)
G) A) and B)

Question 11

Intangible items such as music festivals, legal advice, or public transportation that an organization provides to consumers are referred to as

Accepted Answer

A)   production goods.
B)   support products.
C)   services.
D)   goods.
E)   benefits.F) A) and B)
G) A) and C)

Question 12

All of these are sources for new-product ideas except which?

Accepted Answer

A)   competitors
B)   universities
C)   regulators
D)   crowdsourcing
E)   employeesF) B) and D)
G) A) and D)

Question 13

A product that is new in some way but requires no new behaviors to be learned by consumers is a

Accepted Answer

A)   continuous innovation.
B)   discontinuous innovation.
C)   dynamically continuous innovation.
D)   product transformation.
E)   concurrent innovation.F) B) and D)
G) All of the above

Question 14

What are the eight marketing reasons for new-product failures?

Accepted Answer

There are eight main marketing reasons a...

Question 15

Hewlett-Packard introduced its HP Tablet a few years after Apple launched its original iPad, about the same time Apple introduced its next-generation iPad2. Hewlett-Packard abandoned the product within months. According to the text, the HP Tablet's failure was due in large part to

Accepted Answer

A)   bad timing.
B)   not satisfying customer needs on critical factors.
C)   poor product quality.
D)   an insignificant point of difference.
E)   incomplete market and product protocol.F) All of the above
G) C) and D)

Question 16

In which stage of the new-product development process would a firm use both a SWOT analysis and environmental scanning to develop a new-product protocol and identify its strategic role for the firm?

Accepted Answer

A)   idea generation
B)   screening and evaluation
C)   new-product strategy development
D)   business analysis
E)   developmentF) A) and D)
G) A) and C)

Question 17

New-product strategy development calls for INGenius Co. to develop a battery recycler for the business market. Which is the most likely stage of the new-product development process in which manufacturing issues regarding the new product become an especially important element?

Accepted Answer

A)   market testing
B)   idea generation
C)   screening and evaluation
D)   development
E)   business analysisF) D) and E)
G) B) and C)

Question 18

Raw materials, such as grain or lumber, as well as assemblies or parts are referred to as

Accepted Answer

A)   production goods.
B)   components.
C)   accessories.
D)   support products.
E)   raw assemblies.F) A) and E)
G) All of the above

Question 19

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

Accepted Answer

A)   a continuous innovation.
B)   a discontinuous innovation.
C)   a dynamically continuous innovation.
D)   an evolutionary innovation.
E)   a progressive innovation.F) All of the above
G) A) and B)

Question 20

A product item refers to

Accepted Answer

A)   the variations within a product class.
B)   the entire product category or industry.
C)   a group of SKUs that are closely related.
D)   a specific product that has a unique brand, size, or price.
E)   the services offered by an organization.F) None of the above
G) B) and D)

Exam 10: Developing New Products and Services

Among consumer products, advertising is especially important for

Correct AnswerverifiedShow Answer

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

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What are the eight marketing reasons for new-product failures?

Correct AnswerverifiedThere are eight main marketing reasons a...View AnswerShow Answer

All of these are sources for new-product ideas except which?

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In terms of price, which type of consumer product would be relatively inexpensive?

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In addition to seeking ideas from more well-known sources, organizations also get ideas from universities, inventors, and smaller, nontraditional firms. For example, General Mills partnered with Brigham Young University to license its patent for

Correct AnswerverifiedShow Answer

Consumer products are

Correct AnswerverifiedShow Answer

Concept tests are part of which stage in the new-product development process?

Correct AnswerverifiedShow Answer

Intangible items such as music festivals, legal advice, or public transportation that an organization provides to consumers are referred to as

Correct AnswerverifiedShow Answer

Raw materials, such as grain or lumber, as well as assemblies or parts are referred to as

Correct AnswerverifiedShow Answer

Hewlett-Packard introduced its HP Tablet a few years after Apple launched its original iPad, about the same time Apple introduced its next-generation iPad2. Hewlett-Packard abandoned the product within months. According to the text, the HP Tablet's failure was due in large part to

Correct AnswerverifiedShow Answer

New-product strategy development calls for INGenius Co. to develop a battery recycler for the business market. Which is the most likely stage of the new-product development process in which manufacturing issues regarding the new product become an especially important element?

Correct AnswerverifiedShow Answer

Business products are also referred to as

Correct AnswerverifiedShow Answer

A product item refers to

Correct AnswerverifiedShow Answer

In which stage of the new-product development process would a firm use both a SWOT analysis and environmental scanning to develop a new-product protocol and identify its strategic role for the firm?

Correct AnswerverifiedShow Answer

A product that is new in some way but requires no new behaviors to be learned by consumers is a

Correct AnswerverifiedShow Answer

In terms of brand loyalty, consumers are very brand loyal and will not accept substitutes for which type of consumer product?

Correct AnswerverifiedShow Answer

The stage of the new-product development process that defines the role for a new product in terms of the firm's overall objectives is referred to as

Correct AnswerverifiedShow Answer

Unsought products are

Correct AnswerverifiedShow Answer

Products such as tools and repair services that are used to assist in producing other products and services are

Correct AnswerverifiedShow Answer

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There are eight main marketing reasons a...
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