Question 1

In terms of promotion, which of the following type of consumer product stresses product differentiation from competitors?

Accepted Answer

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

Question 2

Feature bloat is

Accepted Answer

A)  an exaggeration of a product's performance capabilities.
B)  the overcharging in price for a minor product enhancement.
C)  the requirement of having consumers learn new behaviors with a continuous innovation.
D)  an excessive number of product attributes that overwhelms consumers with unnecessary complexity.
E)  the increase in package size when adding more content or making it larger (the mega phenomenon) .F) C) and D)
G) A) and D)

Question 3

All of the following actions occur during the business analysis stage of the new-product development process except

Accepted Answer

A)  using capacity management to find ways to match the availability of the service offering to when it is needed.
B)  assessing the marketing and product synergies related to the company's existing operations.
C)  turning the idea on paper into a prototype.
D)  determining whether the new product can be protected with a patent or copyright.
E)  assessing whether the proposed new product fits with the company's mission and objectives.F) A) and E)
G) A) and C)

Question 4

The stage of the new-product development process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections is referred to as

Accepted Answer

A)  idea generation.
B)  business analysis.
C)  marketing analysis.
D)  product development.
E)  commercialization.F) A) and E)
G) A) and C)

Question 5

In which stage of the new-product development process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?

Accepted Answer

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

Question 6

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 E)
G) B) and C)

Question 7

_____________ are items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.

Accepted Answer

A)  Shopping products
B)  Convenience products
C)  Specialty products
D)  Prestige products
E)  Unsought productsF) C) and D)
G) A) and B)

Question 8

There are seven stages of the new-product development process. Stage 2 is the __________ stage.

Accepted Answer

A)  idea generation
B)  screening and evaluation
C)  screening and analysis
D)  new-product strategy development
E)  product assessmentF) A) and C)
G) All of the above

Question 9

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

Accepted Answer

A)  is functionally different
B)  is different in color
C)  is different in its packaging
D)  is different in price
E)  requires a different distribution channelF) B) and D)
G) A) and C)

Question 10

Explain the difference between consumer products and business products. Why are some products difficult to categorize as one or the other? Give an example of a business product, a consumer product, and a product that is difficult to categorize.

Accepted Answer

Consumer products are products purchased...

Question 11

A few years ago, Frito-Lay developed Frito-Lay Lemonade as a thirst-quencher for those consumers who also like Frito-Lay's salty snacks such as Fritos Corn Chips. But when people think of the brand name Frito-Lay, thirst-quenching is not a benefit that comes to mind and Frito-Lay Lemonade failed. This innovation strategy is known as a

Accepted Answer

A)  brand extension.
B)  radical invention.
C)  product line extension.
D)  disruptive innovation.
E)  product deletion.F) A) and B)
G) A) and C)

Question 12

Because early-stage financing is almost always a problem for those starting a new business, __________ is a way to gather an online community of supporters to financially rally around a specific project that is unlikely to get resources from traditional sources.

Accepted Answer

A)  crowdfunding
B)  open sourcing
C)  venture capital
D)  online banking
E)  crowdsourcingF) A) and D)
G) A) and E)

Question 13

Business products are also referred to as

Accepted Answer

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

Question 14

Define derived demand and provide an example not included in the text.

Accepted Answer

A major characteristic of business produ...

Question 15

In marketing, an idea is

Accepted Answer

A)  a thought that leads to a product or action.
B)  an inspiration that evolved from market research.
C)  an observation about a series of events.
D)  a concept explaining the behavior of an individual or group.
E)  an observation about an individual or group and how they use a service or product.F) None of the above
G) All of the above

Question 16

The late Steve Jobs orchestrated innovations that revolutionized five different industries. Which industry below is not one of them?

Accepted Answer

A)  music
B)  smartphones
C)  personal computers
D)  cable television
E)  tablet computingF) B) and C)
G) A) and C)

Question 17

Which of the products listed below would be the best candidate for full-scale market testing?

Accepted Answer

A)  totally free checking account from Bank One
B)  household frequent flyer program from Delta Airlines
C)  mid-priced luxury sedan made in America by Mazda
D)  new iced coffee beverage from Starbucks
E)  slimmer iMac computerF) A) and E)
G) C) and E)

Question 18

The type of business products known as support products includes installations, supplies, accessory equipment, and

Accepted Answer

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

Exam 10: Developing New Products and Services

Feature bloat is

Correct Answer
verified

Define derived demand and provide an example not included in the text.

Correct Answer
verified
A major characteristic of business produ...
View 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 Answer
verified

In which stage of the new-product development process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?

Correct Answer
verified

Business products are also referred to as

Correct Answer
verified

Which of the products listed below would be the best candidate for full-scale market testing?

Correct Answer
verified

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

Correct Answer
verified

In marketing, an idea is

Correct Answer
verified

There are seven stages of the new-product development process. Stage 2 is the __________ stage.

Correct Answer
verified

_____________ are items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.

Correct Answer
verified

The type of business products known as support products includes installations, supplies, accessory equipment, and

Correct Answer
verified

Explain the difference between consumer products and business products. Why are some products difficult to categorize as one or the other? Give an example of a business product, a consumer product, and a product that is difficult to categorize.

Correct Answer
verified
Consumer products are products purchased...
View Answer

Because early-stage financing is almost always a problem for those starting a new business, __________ is a way to gather an online community of supporters to financially rally around a specific project that is unlikely to get resources from traditional sources.

Correct Answer
verified

In terms of promotion, which of the following type of consumer product stresses product differentiation from competitors?

Correct Answer
verified

Correct Answer
verified

All of the following actions occur during the business analysis stage of the new-product development process except

Correct Answer
verified

The late Steve Jobs orchestrated innovations that revolutionized five different industries. Which industry below is not one of them?

Correct Answer
verified

The stage of the new-product development process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections is referred to as

Correct Answer
verified

Exam 10: Developing New Products and Services

Feature bloat is

Correct AnswerverifiedShow Answer

Define derived demand and provide an example not included in the text.

Correct AnswerverifiedA major characteristic of business produ...View AnswerShow 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

In which stage of the new-product development process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?

Correct AnswerverifiedShow Answer

Business products are also referred to as

Correct AnswerverifiedShow Answer

Which of the products listed below would be the best candidate for full-scale market testing?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

In marketing, an idea is

Correct AnswerverifiedShow Answer

There are seven stages of the new-product development process. Stage 2 is the __________ stage.

Correct AnswerverifiedShow Answer

_____________ are items that the consumer purchases frequently, conveniently, and with a minimum of shopping effort.

Correct AnswerverifiedShow Answer

The type of business products known as support products includes installations, supplies, accessory equipment, and

Correct AnswerverifiedShow Answer

Explain the difference between consumer products and business products. Why are some products difficult to categorize as one or the other? Give an example of a business product, a consumer product, and a product that is difficult to categorize.

Correct AnswerverifiedConsumer products are products purchased...View AnswerShow Answer

Because early-stage financing is almost always a problem for those starting a new business, __________ is a way to gather an online community of supporters to financially rally around a specific project that is unlikely to get resources from traditional sources.

Correct AnswerverifiedShow Answer

In terms of promotion, which of the following type of consumer product stresses product differentiation from competitors?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

All of the following actions occur during the business analysis stage of the new-product development process except

Correct AnswerverifiedShow Answer

The late Steve Jobs orchestrated innovations that revolutionized five different industries. Which industry below is not one of them?

Correct AnswerverifiedShow Answer

The stage of the new-product development process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections is referred to as

Correct AnswerverifiedShow Answer

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A major characteristic of business produ...
View Answer

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Consumer products are products purchased...
View Answer

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