Question 1

Business products are also referred to as

Accepted Answer

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

Question 2

Figure 9-2 
-Consider Figure 9 -2.Services can be classified by their method of delivery.Box B represents

Accepted Answer

A)   equipment-based services.
B)   technology-based services.
C)   fee-based services.
D)   people-based services.
E)   nonprofit services.F) A) and B)
G) A) and E)

Question 3

The Macintosh,iPod,iPhone,iPad,CarPlay,and Apple Watch are all examples of Apple's commitment to

Accepted Answer

A)   sustainable procurement.
B)   social responsibility.
C)   new product development.
D)   using renewable resources.
E)   respecting its workforce.F) D) and E)
G) None of the above

Question 4

The two main classifications of business products are

Accepted Answer

A)   durable and nondurable products.
B)   components and support products.
C)   tangible and intangible products.
D)   consumer and industrial products.
E)   derived and maintenance products.F) A) and E)
G) B) and D)

Question 5

Equipment-based services do not have the marketing concern of inconsistency because __________ have been removed from the delivery of the service.

Accepted Answer

A)   risk and product liability
B)   people
C)   learning requirements
D)   automations
E)   accessoriesF) B) and C)
G) D) and E)

Question 6

The intangibility element of a service refers to the fact that it

Accepted Answer

A)   has value that can only be determined by using subjective criteria.
B)   can't be held, touched, or seen before the purchase decision.
C)   requires the ability to provide the service even in times of no demand.
D)   can maintain or accumulate good will with customers.
E)   can be objectively evaluated.F) B) and D)
G) C) and D)

Question 7

When a small retail chain hires an accountant to do its income taxes,the retail chain would have purchased

Accepted Answer

A)   an ancillary service.
B)   an industrial service.
C)   a specialty service.
D)   an accessory service.
E)   a contractual service.F) B) and E)
G) B) and D)

Question 8

A product is a good,service,or idea consisting of __________ that satisfy consumers' needs and is received in exchange for money or something else of value.

Accepted Answer

A)   a promise or commitment exchanged between a seller and a buyer
B)   a bundle of tangible and intangible attributes
C)   an assortment of value-possessing activities
D)   an array of physical attributes
E)   a collection of tangible qualitiesF) C) and D)
G) C) and E)

Question 9

Beverly has 15 tax accountants on her staff.During the months of February,March,and April,her staff is overworked and she may even hire more employees to meet the tax preparation needs of her clients.Beverly is not currently experiencing __________; in fact,all of her employees and equipment are fully being used.

Accepted Answer

A)   off-peak pricing
B)   idle production capacity
C)   static demand
D)   capacity marketing
E)   capacity inventoryF) A) and D)
G) B) and E)

Question 10

Nicole owns a small organic spice company called RaisaSpice and was looking for a new product to add to her company's line.A friend suggested combining spices from India with tea.In the __________ stage of the new-product process,the spice and tea mixtures were distributed to grocery stores in Portland and Seattle to see if they sold well.

Accepted Answer

A)   idea generation
B)   screening and evaluation
C)   business analysis
D)   market testing
E)   commercializationF) B) and D)
G) A) and E)

Question 11

Figure 9-1 
-According to Figure 9-1,column C would represent which type of product?

Accepted Answer

A)   shopping
B)   convenience
C)   specialty
D)   prestige
E)   unsoughtF) D) and E)
G) A) and B)

Question 12

Among business products,which of the following would most likely be considered an industrial service?

Accepted Answer

A)   tractor
B)   glass cleaner
C)   photocopier maintenance
D)   athletic training facility
E)   syringesF) All of the above
G) A) and D)

Question 13

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) None of the above
G) All of the above

Question 14

If you find that the staff who work in your college's career center give you poor advice or otherwise did not provide sufficient help in finding you employment after graduation,you may be dissatisfied with your entire college experience.This is an example of which issue associated with services?

Accepted Answer

A)   inventory
B)   intangibility
C)   inseparability
D)   continuum of the service
E)   inconsistencyF) A) and D)
G) A) and E)

Question 15

An important way of defining new products is in terms of their effects on consumption.This approach classifies new products according to

Accepted Answer

A)   the price.
B)   the extent of media promotion.
C)   the degree of potential product cannibalization.
D)   the presence of feature bloat.
E)   the degree of learning required by the consumer.F) All of the above
G) B) and D)

Question 16

Services contribute how much to the U.S.gross domestic product as compared with goods?

Accepted Answer

A)   Services contribute about the same.
B)   Services contribute about half as much.
C)   Services contribute about twice as much.
D)   Goods and services are not immediately comparable since so many services are performed for free.
E)   Services are not a component of GDP.F) All of the above
G) C) and E)

Question 17

Among business products,legal counsel for patent information for a firm's R&D department would most likely be classified as which type of support product?

Accepted Answer

A)   ancillary services
B)   contractual services
C)   specialty services
D)   accessory services
E)   industrial servicesF) A) and B)
G) B) and E)

Question 18

The proliferation of extra capabilities in a product that overwhelms many consumers with mind-boggling complexity is referred to as

Accepted Answer

A)   function exaggeration.
B)   product line extension.
C)   feature bloat.
D)   sensory overload.
E)   product differentiation.F) B) and D)
G) C) and E)

Question 19

________ consists of practices and processes that encourage the use of external as well as internal ideas as well as internal and external collaboration when conceiving,producing,and marketing new products and services.

Accepted Answer

A)   Innovation partnership
B)   Open innovation
C)   Formalized collaboration
D)   Piggy-back thinking
E)   Stakeholder cooperationF) All of the above
G) B) and C)

Question 20

Which of the following is considered a service?

Accepted Answer

A)   hotel stay
B)   trash bags
C)   silverware
D)   washing machine
E)   freedomF) A) and E)
G) A) and D)

Exam 9: Developing New Products and Services

The intangibility element of a service refers to the fact that it

Correct Answer
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________ consists of practices and processes that encourage the use of external as well as internal ideas as well as internal and external collaboration when conceiving,producing,and marketing new products and services.

Correct Answer
verified

The Macintosh,iPod,iPhone,iPad,CarPlay,and Apple Watch are all examples of Apple's commitment to

Correct Answer
verified

The two main classifications of business products are

Correct Answer
verified

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

Correct Answer
verified

Among business products,legal counsel for patent information for a firm's R&D department would most likely be classified as which type of support product?

Correct Answer
verified

A product is a good,service,or idea consisting of __________ that satisfy consumers' needs and is received in exchange for money or something else of value.

Correct Answer
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Which of the following is considered a service?

Correct Answer
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Business products are also referred to as

Correct Answer
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Services contribute how much to the U.S.gross domestic product as compared with goods?

Correct Answer
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Equipment-based services do not have the marketing concern of inconsistency because __________ have been removed from the delivery of the service.

Correct Answer
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Figure 9-2 -Consider Figure 9 -2.Services can be classified by their method of delivery.Box B represents

Correct Answer
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Among business products,which of the following would most likely be considered an industrial service?

Correct Answer
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If you find that the staff who work in your college's career center give you poor advice or otherwise did not provide sufficient help in finding you employment after graduation,you may be dissatisfied with your entire college experience.This is an example of which issue associated with services?

Correct Answer
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An important way of defining new products is in terms of their effects on consumption.This approach classifies new products according to

Correct Answer
verified

Figure 9-1 -According to Figure 9-1,column C would represent which type of product?

Correct Answer
verified

When a small retail chain hires an accountant to do its income taxes,the retail chain would have purchased

Correct Answer
verified

The proliferation of extra capabilities in a product that overwhelms many consumers with mind-boggling complexity is referred to as

Correct Answer
verified

Exam 9: Developing New Products and Services

The intangibility element of a service refers to the fact that it

Correct AnswerverifiedShow Answer

________ consists of practices and processes that encourage the use of external as well as internal ideas as well as internal and external collaboration when conceiving,producing,and marketing new products and services.

Correct AnswerverifiedShow Answer

The Macintosh,iPod,iPhone,iPad,CarPlay,and Apple Watch are all examples of Apple's commitment to

Correct AnswerverifiedShow Answer

The two main classifications of business products are

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Among business products,legal counsel for patent information for a firm's R&D department would most likely be classified as which type of support product?

Correct AnswerverifiedShow Answer

A product is a good,service,or idea consisting of __________ that satisfy consumers' needs and is received in exchange for money or something else of value.

Correct AnswerverifiedShow Answer

Which of the following is considered a service?

Correct AnswerverifiedShow Answer

Business products are also referred to as

Correct AnswerverifiedShow Answer

Services contribute how much to the U.S.gross domestic product as compared with goods?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Equipment-based services do not have the marketing concern of inconsistency because __________ have been removed from the delivery of the service.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Figure 9-2 -Consider Figure 9 -2.Services can be classified by their method of delivery.Box B represents

Correct AnswerverifiedShow Answer

Among business products,which of the following would most likely be considered an industrial service?

Correct AnswerverifiedShow Answer

If you find that the staff who work in your college's career center give you poor advice or otherwise did not provide sufficient help in finding you employment after graduation,you may be dissatisfied with your entire college experience.This is an example of which issue associated with services?

Correct AnswerverifiedShow Answer

An important way of defining new products is in terms of their effects on consumption.This approach classifies new products according to

Correct AnswerverifiedShow Answer

Figure 9-1 -According to Figure 9-1,column C would represent which type of product?

Correct AnswerverifiedShow Answer

When a small retail chain hires an accountant to do its income taxes,the retail chain would have purchased

Correct AnswerverifiedShow Answer

The proliferation of extra capabilities in a product that overwhelms many consumers with mind-boggling complexity is referred to as

Correct AnswerverifiedShow Answer

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