Question 1

Industrial products are also referred to as __________ products.

Accepted Answer

A)  consumer
B)  merchandise
C)  organizational
D)  resale
E)  businessF) A) and B)
G) All of the above

Question 2

What is idea generation in the new-product development process? From where do forward-thinking marketers get their ideas?

Accepted Answer

Idea generation is the second stage of t...

Question 3

Which of the following statements about product lines is most accurate?

Accepted Answer

A)  An advantage of a narrow product line is the ability to have a greater gap between price points.
B)  Product lines refer to consumer products; product mixes refer to industrial products.
C)  An advantage of broad product lines is increased likelihood of access to large retail chain distribution.
D)  A benefit of having a narrow product line is that it enables both consumers and retailers to simplify their buying decisions.
E)  A broad product line reduces R&D costs.F) A) and C)
G) B) and D)

Question 4

At the time of its introduction, which of the following products was the best example of a continuous innovation?

Accepted Answer

A)  The first Apple iPhone
B)  Atari, the first video game system
C)  Sunsilk Silky Straight shampoo and conditioner with tip-targeting technology
D)  Dragon Naturally Speaking voice-recognition software
E)  Naturalpoint Trakir, which replaces the computer mouse by tracking head movements and then translating those head movements into cursor commandsF) B) and E)
G) A) and D)

Question 5

If an organization's 2015 sales for the entire United States were $50 million and its 2014 U.S. sales were $30 million, what is the annual percentage sales change?

Accepted Answer

A)  40
B)  67
C)  100
D)  125
E)  133F) B) and E)
G) C) and D)

Question 6

Which of the following statements about services is most accurate?

Accepted Answer

A)  Although a major contributor to the GDP nationally, services play only a minor role in GDP on a global scale.
B)  The marketing of services is, in a practical sense, identical to the marketing of products or ideas since they both satisfy customer needs.
C)  Only 10 percent of all jobs created in the United States are in the services sector.
D)  In the United States, services have become a significant part of the economy and often augment products.
E)  There is much more in common with the marketing of services and business products than there is between the marketing of services and consumer products.F) A) and D)
G) A) and C)

Question 7

The demand for a business product that results from the demand for a consumer product is referred to as

Accepted Answer

A)  sequential demand.
B)  selective demand.
C)  primary demand.
D)  secondary demand.
E)  derived demand.F) B) and D)
G) B) and C)

Question 8

A nondurable good is defined as

Accepted Answer

A)  an item consumed in one or a few uses.
B)  an item that usually lasts over an extended number of uses.
C)  an item that lasts at least one year without becoming obsolete.
D)  a product purchased only for the use of ultimate consumers.
E)  a product used in the production of other products.F) C) and D)
G) A) and E)

Question 9

The screening and evaluation stage of the new-product process involves

Accepted Answer

A)  internal and external evaluations of new-product ideas.
B)  product selection and budgeting projections.
C)  business and cost analyses.
D)  patent searches and environmental scanning.
E)  idea selection and prototype development.F) None of the above
G) B) and E)

Question 10

Which of the following statements regarding goods is most accurate?

Accepted Answer

A)  Nondurable goods rely more on advertising than durable goods.
B)  Durable goods benefit more from advertising than nondurable goods.
C)  There is little, if any, difference between marketing actions for durable and nondurable goods.
D)  Nondurable goods rely more on personal selling than durable goods.
E)  The durable and nondurable classification applies to services as well as to products.F) A) and E)
G) B) and E)

Question 11

A durable good is defined as

Accepted Answer

A)  an item consumed in one or a few uses.
B)  an item that usually lasts over many uses.
C)  an item that lasts at least one year without becoming obsolete.
D)  a product purchased only for the use of ultimate consumers.
E)  a product used in the production of other products.F) A) and D)
G) C) and D)

Question 12

Detailed financial projections and assessments of marketing and product synergies 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) B) and D)
G) B) and C)

Question 13

Consumer product classifications differ in terms of the: (1)  effort the consumer spends on the decision, (2)  frequency of purchase, and (3)  ___________.

Accepted Answer

A)  amount of money the customer is willing and able to spend
B)  number of competing or substitute products
C)  demographics of the consumer
D)  attributes used in making the purchase decision
E)  consumer segmentation characteristicsF) D) and E)
G) B) and C)

Question 14

Which of the following is considered a service?

Accepted Answer

A)  online banking
B)  bathing suit
C)  silverware
D)  washing machine
E)  freedomF) C) and D)
G) A) and B)

Question 15

New-product or service failures may be reduced or avoided if the company developing them has

Accepted Answer

A)  support from marketer-dominated sources of information.
B)  a clear patent approved by the governments within the countries it wants to market.
C)  a statement of competitive intent.
D)  stakeholder approval in the development process.
E)  a precise protocol.F) A) and E)
G) A) and B)

Question 16

A product that has tangible attributes that a consumer's five senses can perceive is referred to as

Accepted Answer

A)  a good.
B)  a service.
C)  a product concept.
D)  a new idea.
E)  an artifact.F) B) and E)
G) A) and E)

Question 17

Services can be classified by

Accepted Answer

A)  their method of delivery.
B)  their use of idle capacity time.
C)  the nature of their ownership.
D)  their location on perceptual maps.
E)  organizational reach.F) C) and D)
G) A) and C)

Question 18

Which of the following is the best example of a nondurable good?

Accepted Answer

A)  laundry detergent
B)  shoes
C)  insurance
D)  iPod
E)  laser surgeryF) None of the above
G) A) and B)

Question 19

Many forward-looking companies have discovered that their own organization does not generate enough useful new-product ideas. This has caused them to find new-product ideas by developing strategic relationships with outside individuals and organizations, a practice known as

Accepted Answer

A)  innovation alliances.
B)  open innovation.
C)  open collaboration.
D)  piggy-back thinking.
E)  stakeholder cooperation.F) A) and C)
G) C) and E)

Question 20

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

Exam 10: Developing New Products and Services

Which of the following is considered a service?

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Which of the following statements about product lines is most accurate?

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Which of the following is the best example of a nondurable good?

Correct AnswerverifiedShow Answer

A durable good is defined as

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The screening and evaluation stage of the new-product process involves

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Many forward-looking companies have discovered that their own organization does not generate enough useful new-product ideas. This has caused them to find new-product ideas by developing strategic relationships with outside individuals and organizations, a practice known as

Correct AnswerverifiedShow Answer

What is idea generation in the new-product development process? From where do forward-thinking marketers get their ideas?

Correct AnswerverifiedIdea generation is the second stage of t...View AnswerShow Answer

Detailed financial projections and assessments of marketing and product synergies are a part of which stage of the new-product development process?

Correct AnswerverifiedShow Answer

The demand for a business product that results from the demand for a consumer product is referred to as

Correct AnswerverifiedShow Answer

If an organization's 2015 sales for the entire United States were $50 million and its 2014 U.S. sales were $30 million, what is the annual percentage sales change?

Correct AnswerverifiedShow Answer

A product that has tangible attributes that a consumer's five senses can perceive is referred to as

Correct AnswerverifiedShow Answer

At the time of its introduction, which of the following products was the best example of a continuous innovation?

Correct AnswerverifiedShow Answer

Which of the following statements regarding goods is most accurate?

Correct AnswerverifiedShow Answer

Industrial products are also referred to as __________ products.

Correct AnswerverifiedShow Answer

New-product or service failures may be reduced or avoided if the company developing them has

Correct AnswerverifiedShow Answer

Which of the following statements about services is most accurate?

Correct AnswerverifiedShow Answer

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 nondurable good is defined as

Correct AnswerverifiedShow Answer

Consumer product classifications differ in terms of the: (1) effort the consumer spends on the decision, (2) frequency of purchase, and (3) ___________.

Correct AnswerverifiedShow Answer

Services can be classified by

Correct AnswerverifiedShow Answer

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Idea generation is the second stage of t...
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