Question 1

A retail chain hires a company to design and install a computer network that would allow each store in the chain to check the inventory of others in the chain for customer-requested items. The retail chain purchased which kind of business products?

Accepted Answer

A)   accessory equipment
B)   industrial services
C)   supply materials
D)   component parts
E)   installationsF) D) and E)
G) C) and D)

Question 2

One of the eight primary marketing-related reasons for new-product failure is

Accepted Answer

A)   not listening to the voice of the engineer.
B)   no economical access to buyers.
C)   too much advertising or too aggressive a tone for it.
D)   failure to anticipate competitors' actions.
E)   insufficient funding for rollout.F) B) and E)
G) C) and D)

Question 3

The type of analysis that compares the differences between consumers' expectations about a service and their experience with it based on dimensions of service quality is referred to as

Accepted Answer

A)   customer relationship management.
B)   service encounter differential.
C)   gap analysis.
D)   a customer contact audit.
E)   a service audit.F) B) and E)
G) A) and B)

Question 4

An American Airlines ad shows the airline's new seats and emphasizes their ability to recline and other benefits, to overcome the ________ of its service.

Accepted Answer

A)   incongruity
B)   inconsistency
C)   inventory costs
D)   inseparability
E)   intangibilityF) B) and D)
G) D) and E)

Question 5

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

Question 6

Inconsistency of services refers to the fact that

Accepted Answer

A)   there is no regulation of service industries in terms of basic standards of quality.
B)   the quality of service provided by a firm is often inconsistent with its image.
C)   the performance of one employee may vary from the performance of another employee even though the same firm employs both.
D)   training and standardization of service delivery procedures cannot be accomplished.
E)   services have a varying degree of durability.F) B) and C)
G) A) and E)

Question 7

Jack graduated from law school and took his mom to dinner after the ceremony. At the restaurant, the server filled their water glasses, checked on their table, and took care of their requests. Jason noted that the last time he was at this restaurant, the experience was much worse. This scenario illustrates the ________ of services.

Accepted Answer

A)   impressionability
B)   intangibility
C)   inseparability
D)   uniqueness of the service
E)   inconsistencyF) None of the above
G) B) and C)

Question 8

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) C) and E)
G) B) and C)

Question 9

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) C) and D)
G) C) and E)

Question 10

A newly invented apple peeling and coring machine for the consumer market would be considered

Accepted Answer

A)   a shopping product.
B)   a convenience product.
C)   a specialty product.
D)   an unsought product.
E)   a discretionary product.F) None of the above
G) B) and C)

Question 11

A product mix refers to

Accepted Answer

A)   all of the different product lines offered by an organization.
B)   the variations within a product class.
C)   a specific product SKU that has a unique brand, size, or price.
D)   a group of products that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, are distributed through the same types of outlets, or fall within a given price range.
E)   the entire product category or industry.F) A) and D)
G) C) and D)

Question 12

Identify and describe each stage in the new-product development process in the correct order.

Accepted Answer

There are seven stages in the new-produc...

Question 13

________ are items that become part of the final business product.

Accepted Answer

A)   Components
B)   Accessories
C)   Support products
D)   Production goods
E)   Raw assembliesF) None of the above
G) C) and D)

Question 14

Hewlett-Packard, for example, introduced its HP Tablet a few years after Apple launched its original iPad, about the same time Apple introduced its next-generation iPad 2 that featured multiple apps. According to the textbook, 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) B) and C)
G) D) and E)

Question 15

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

Question 16

Very infrequent purchases and limited distribution are characteristics of products that a prospective buyer may not initially want, which makes awareness essential. This type of consumer product is referred to as

Accepted Answer

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

Question 17

Which of the following statements regarding goods is most accurate?

Accepted Answer

A)   In order to be classified as a good, an item must appeal to all five senses.
B)   Music is not considered a good because it only involves a single sense-hearing.
C)   Some goods have intangible attributes as well as tangible ones.
D)   To market a good that contains visual attributes, you cannot use an auditory medium.
E)   The aroma of chocolate chip cookies is considered an idea because it affects one's senses.F) A) and B)
G) A) and C)

Question 18

Which of the following new products is the best example of the lowest level of risk from the company's point of view?

Accepted Answer

A)   adding Ball Park Beef Franks with Cheese to the Ball Park Franks line
B)   moving from production of landline telephones to smartphones
C)   marketing the first Apple computer
D)   changing the formula from Coca-Cola to New Coke and then back to Coca-Cola Classic
E)   offering online marketing classes rebranded under a new college nameF) B) and D)
G) A) and C)

Question 19

Among business products, which of the following would most likely be considered accessory equipment?

Accepted Answer

A)   copper wiring
B)   a factory
C)   a cleaning service
D)   pneumatic nail gun
E)   ink-jet printer cartridgesF) B) and E)
G) B) and C)

Question 20

An external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product is referred to as

Accepted Answer

A)   new-product strategy development.
B)   idea generation.
C)   crowdsourcing.
D)   market testing.
E)   a concept test.F) A) and C)
G) A) and D)

Exam 9: Developing New Products and Services

An American Airlines ad shows the airline's new seats and emphasizes their ability to recline and other benefits, to overcome the ________ of its service.

Correct Answer
verified

The type of analysis that compares the differences between consumers' expectations about a service and their experience with it based on dimensions of service quality is referred to as

Correct Answer
verified

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 Answer
verified

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

Correct Answer
verified

An external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product is referred to as

Correct Answer
verified

Hewlett-Packard, for example, introduced its HP Tablet a few years after Apple launched its original iPad, about the same time Apple introduced its next-generation iPad 2 that featured multiple apps. According to the textbook, the HP Tablet's failure was due in large part to

Correct Answer
verified

Correct Answer
verified

Among business products, which of the following would most likely be considered accessory equipment?

Correct Answer
verified

A newly invented apple peeling and coring machine for the consumer market would be considered

Correct Answer
verified

A retail chain hires a company to design and install a computer network that would allow each store in the chain to check the inventory of others in the chain for customer-requested items. The retail chain purchased which kind of business products?

Correct Answer
verified

One of the eight primary marketing-related reasons for new-product failure is

Correct Answer
verified

Which of the following new products is the best example of the lowest level of risk from the company's point of view?

Correct Answer
verified

________ are items that become part of the final business product.

Correct Answer
verified

Identify and describe each stage in the new-product development process in the correct order.

Correct Answer
verified
There are seven stages in the new-produc...
View Answer

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

Correct Answer
verified

Inconsistency of services refers to the fact that

Correct Answer
verified

Very infrequent purchases and limited distribution are characteristics of products that a prospective buyer may not initially want, which makes awareness essential. This type of consumer product is referred to as

Correct Answer
verified

Correct Answer
verified

Which of the following statements regarding goods is most accurate?

Correct Answer
verified

A product mix refers to

Correct Answer
verified

Exam 9: Developing New Products and Services

An American Airlines ad shows the airline's new seats and emphasizes their ability to recline and other benefits, to overcome the ________ of its service.

Correct AnswerverifiedShow Answer

The type of analysis that compares the differences between consumers' expectations about a service and their experience with it based on dimensions of service quality is referred to as

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

An external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product is referred to as

Correct AnswerverifiedShow Answer

Hewlett-Packard, for example, introduced its HP Tablet a few years after Apple launched its original iPad, about the same time Apple introduced its next-generation iPad 2 that featured multiple apps. According to the textbook, the HP Tablet's failure was due in large part to

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Among business products, which of the following would most likely be considered accessory equipment?

Correct AnswerverifiedShow Answer

A newly invented apple peeling and coring machine for the consumer market would be considered

Correct AnswerverifiedShow Answer

A retail chain hires a company to design and install a computer network that would allow each store in the chain to check the inventory of others in the chain for customer-requested items. The retail chain purchased which kind of business products?

Correct AnswerverifiedShow Answer

One of the eight primary marketing-related reasons for new-product failure is

Correct AnswerverifiedShow Answer

Which of the following new products is the best example of the lowest level of risk from the company's point of view?

Correct AnswerverifiedShow Answer

________ are items that become part of the final business product.

Correct AnswerverifiedShow Answer

Identify and describe each stage in the new-product development process in the correct order.

Correct AnswerverifiedThere are seven stages in the new-produc...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Inconsistency of services refers to the fact that

Correct AnswerverifiedShow Answer

Very infrequent purchases and limited distribution are characteristics of products that a prospective buyer may not initially want, which makes awareness essential. This type of consumer product is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Which of the following statements regarding goods is most accurate?

Correct AnswerverifiedShow Answer

A product mix refers to

Correct AnswerverifiedShow Answer

Correct Answer
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There are seven stages in the new-produc...
View Answer

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