Question 1

Business analysis is the stage of the new-product development process

Accepted Answer

A)   during which the target markets are selected and resources are allocated to reach them.
B)   during which the target market segments that show potential are selected and those that do not are eliminated.
C)   that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.
D)   during which there is a formal accounting of all monies spent on R&D to determine the return on investment (ROI)  that the new product will give back to the firm.
E)   that internally and externally evaluates new-product ideas to eliminate those warranting no further effort.F) A) and E)
G) A) and C)

Question 2

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 3

Commercialization is

Accepted Answer

A)   the point at which a new product has diffused throughout the marketplace.
B)   the introduction of an offering to sequential geographic areas of the United States.
C)   the process of exposing actual products to prospective consumers under realistic purchase conditions.
D)   the stage of the new-product process that positions and launches a new product in full-scale production and sales.
E)   the point where new-product concepts are transformed into prototypes.F) None of the above
G) A) and B)

Question 4

What do a movie theater, an automated car wash, and electric utilities have in common?

Accepted Answer

A)   They are all tangible services.
B)   They are all people-based services.
C)   None of them have problems with idle production capacity.
D)   They never use off-peak pricing.
E)   They are all equipment-based services.F) All of the above
G) A) and B)

Question 5

A new-product or service protocol is

Accepted Answer

A)   the standardized procedures a firm follows for the inception, design, manufacturing, promotion, and distribution of a new product.
B)   a formalized statement of intent regarding what will be sold, to whom it will be sold, and by whom it will be sold.
C)   maintaining compliance with all licensing, manufacturing, and distribution standards established by the U.S. Federal Trade Commission (FT
C)  .
D)   a statement that identifies a well-defined target market, specific customers' needs, wants, and preferences, and what the product or service will be and do to satisfy consumers.
E)   the raw unwritten ideas to produce a single commercially successful new product.F) D) and E)
G) A) and B)

Question 6

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) B) and C)
G) C) and D)

Question 7

Marketing Dashboard Map
-The new-product development process an organization goes through to identify business opportunities and convert them into salable products or services contains

Accepted Answer

A)   three main steps: research, production, and distribution.
B)   four distinct steps: research, evaluation, production, and distribution.
C)   five key phases ranging from idea generation to creating the first prototype.
D)   seven stages from new-product strategy development to commercialization.
E)   three phases: planning, implementation, and evaluation.F) A) and C)
G) C) and E)

Question 8

A product can be classified as new from all of the following perspectives except which?

Accepted Answer

A)   the organization's
B)   existing offerings
C)   legal
D)   the firm's competitors'
E)   the consumer'sF) A) and B)
G) B) and C)

Question 9

Vivienne, a college student with limited financial resources, was considering the purchase of a new laptop. She visited several office supply and consumer electronics stores, searching for the lowest price on a reliable new laptop. She devoted a great deal of time and energy to getting the best value for her money. For Vivienne, a laptop was

Accepted Answer

A)   a specialty product.
B)   an unsought product.
C)   a discretionary product.
D)   a shopping product.
E)   a convenience product.F) A) and D)
G) All of the above

Question 10

The type of good for which the consumer compares several alternatives on such criteria as price, quality, and style is

Accepted Answer

A)   a shopping product.
B)   a convenience product.
C)   a specialty product.
D)   an unsought product.
E)   a B2B product.F) C) and E)
G) B) and E)

Question 11

Which of the following is the best example of a convenience product?

Accepted Answer

A)   Apple Airpods
B)   Audi Q8 luxury automobile
C)   flight on United Airlines
D)   Roget's Thesaurus
E)   Lay's Potato ChipsF) A) and B)
G) A) and C)

Question 12

The four I's of services consist of

Accepted Answer

A)   intangibility, inconsistency, inseparability, and innovation.
B)   intangibility, inventory, inflexibility, and impression.
C)   intangibility, inconsistency, inseparability, and inventory.
D)   intangibility, inventory, innovation, and impression.
E)   intangibility, inconsistency, innovation, and impression.F) B) and C)
G) A) and C)

Question 13

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) A) and B)
G) A) and C)

Question 14

To help consumers assess and compare its airline service, Frontier Airlines has used personable animal characters in its advertising to announce and describe benefits, such as leather seats and "stretch" seating, to help deal with the

Accepted Answer

A)   incongruity of the service.
B)   inseparability of the service.
C)   intangibility of the service.
D)   inflexibility of the service.
E)   interdependence of the service.F) A) and E)
G) A) and D)

Question 15

The promotion for which of the following product types would stress price, availability, and awareness?

Accepted Answer

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

Question 16

Procter & Gamble has a large ________ that includes product groupings such as beauty and grooming (Crest toothpaste and Gillette razors) , household care (Downy fabric softener and Tide detergent) , and Pampers diapers.

Accepted Answer

A)   marketing mix
B)   product class
C)   product itemization
D)   product line
E)   product mixF) A) and D)
G) B) and E)

Exam 9: Developing New Products and Services

Marketing Dashboard Map -The new-product development process an organization goes through to identify business opportunities and convert them into salable products or services contains

Correct Answer
verified

A product can be classified as new from all of the following perspectives except which?

Correct Answer
verified

Correct Answer
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What do a movie theater, an automated car wash, and electric utilities have in common?

Correct Answer
verified

The four I's of services consist of

Correct Answer
verified

To help consumers assess and compare its airline service, Frontier Airlines has used personable animal characters in its advertising to announce and describe benefits, such as leather seats and "stretch" seating, to help deal with the

Correct Answer
verified

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 Answer
verified

Business analysis is the stage of the new-product development process

Correct Answer
verified

A new-product or service protocol is

Correct Answer
verified

Commercialization is

Correct Answer
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The type of good for which the consumer compares several alternatives on such criteria as price, quality, and style is

Correct Answer
verified

The promotion for which of the following product types would stress price, availability, and awareness?

Correct Answer
verified

Which of the following is the best example of a convenience product?

Correct Answer
verified

Procter & Gamble has a large ________ that includes product groupings such as beauty and grooming (Crest toothpaste and Gillette razors) , household care (Downy fabric softener and Tide detergent) , and Pampers diapers.

Correct Answer
verified

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

Exam 9: Developing New Products and Services

Marketing Dashboard Map -The new-product development process an organization goes through to identify business opportunities and convert them into salable products or services contains

Correct AnswerverifiedShow Answer

A product can be classified as new from all of the following perspectives except which?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What do a movie theater, an automated car wash, and electric utilities have in common?

Correct AnswerverifiedShow Answer

The four I's of services consist of

Correct AnswerverifiedShow Answer

To help consumers assess and compare its airline service, Frontier Airlines has used personable animal characters in its advertising to announce and describe benefits, such as leather seats and "stretch" seating, to help deal with the

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

Business analysis is the stage of the new-product development process

Correct AnswerverifiedShow Answer

A new-product or service protocol is

Correct AnswerverifiedShow Answer

Commercialization is

Correct AnswerverifiedShow Answer

The type of good for which the consumer compares several alternatives on such criteria as price, quality, and style is

Correct AnswerverifiedShow Answer

The promotion for which of the following product types would stress price, availability, and awareness?

Correct AnswerverifiedShow Answer

Which of the following is the best example of a convenience product?

Correct AnswerverifiedShow Answer

Procter & Gamble has a large ________ that includes product groupings such as beauty and grooming (Crest toothpaste and Gillette razors) , household care (Downy fabric softener and Tide detergent) , and Pampers diapers.

Correct AnswerverifiedShow Answer

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

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