Question 1

Which of the following firms uses crowdfunding to raise capital for products that are unlikely to get resources from traditional sources?

Accepted Answer

A)   IDEO
B)   Kickstarter.com
C)   Warren Buffet's Berkshire Hathaway
D)   the Industrial Design Group
E)   Unfundable.comF) C) and E)
G) None of the above

Question 2

Characterize the difference between a product line and a product mix.Give an example of each.

Accepted Answer

A product line is a group of products or...

Question 3

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

Accepted Answer

A)   open innovation
B)   screening and evaluation
C)   product development
D)   new-product strategy development
E)   idea generationF) None of the above
G) C) and E)

Question 4

Concept tests are part of which stage in the new-product development process?

Accepted Answer

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

Question 5

Commercialization refers to

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

Question 6

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 also have intangible attributes.
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 C)
G) A) and D)

Question 7

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

Accepted Answer

A major characteristic of business produ...

Question 8

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers.This was done on a limited scale to determine consumer reactions before national distribution of the product.At that time,Breyer's new product was in the __________ stage of the new-product process.

Accepted Answer

A)   commercialization
B)   screening and evaluation
C)   business analysis
D)   development
E)   market testingF) B) and C)
G) B) and D)

Question 9

In terms of brand loyalty,consumers are very brand loyal and will not accept substitutes for which type of consumer product?

Accepted Answer

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

Question 10

All of the following are sources for new-product ideas except which?

Accepted Answer

A)   competitors
B)   universities
C)   regulators
D)   suppliers
E)   employeesF) A) and B)
G) A) and C)

Question 11

From an organization's perspective regarding its new products and innovations,which of the following new-product strategies has the lowest level of risk?

Accepted Answer

A)   a radical invention
B)   a brand extension
C)   a product line extension
D)   a jump in innovation
E)   a product refinancingF) A) and B)
G) B) and D)

Question 12

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 C)
G) A) and D)

Question 13

It is common now for laptops and tablets to utilize multitouch functions,such as "pinch to zoom," either on the screen interface or with the tracking mouse.When the multitouch interface was first introduced,it was an example of which type of innovation?

Accepted Answer

A)   continuous innovation
B)   discontinuous innovation
C)   disruptive innovation
D)   dynamically continuous innovation
E)   evolutionary innovationF) B) and D)
G) A) and D)

Question 14

Which of the following would most likely be considered a consumer product?

Accepted Answer

A)   auto lift
B)   cotton fiber
C)   printing press
D)   suitcase
E)   bricksF) C) and E)
G) A) and C)

Question 15

Parallel development,involving the simultaneous development of both the product and the production process,is the responsibility of

Accepted Answer

A)   cross-functional teams.
B)   the marketing department.
C)   research and development engineers.
D)   product managers.
E)   top management.F) B) and D)
G) None of the above

Question 16

How a person establishes expectations for a service not yet experienced is influenced by which of the following?

Accepted Answer

A)   the economy
B)   consumer income
C)   word-of-mouth communications
D)   competitive trends
E)   how the organization delivers its serviceF) D) and E)
G) B) and C)

Question 17

What are the four types of consumer products?
 How do they differ?

Accepted Answer

Convenience products,shopping products,s...

Question 18

Before a new product or service is developed,a firm should have a precise protocol,a statement that identifies which of the following?

Accepted Answer

A)   a clear plan for product distribution
B)   an analysis of potential competitors' products
C)   a precise budget of how much can be spent for the marketing program
D)   specific customers' needs, wants, and preferences
E)   clear financial goals and expectationsF) A) and C)
G) B) and E)

Question 19

Services can be classified by their method of delivery.Services such as management consulting,plumbing,and cleaning are considered

Accepted Answer

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

Question 20

Installations are support products that include items such as

Accepted Answer

A)   copy paper, mechanical pencils, and lightbulbs.
B)   welding masks and computers.
C)   warehouses and automated assembly lines.
D)   lumber and engine parts.
E)   janitorial and legal services.F) A) and D)
G) D) and E)

Exam 9: Developing New Products and Services

Installations are support products that include items such as

Correct AnswerverifiedShow Answer

In terms of brand loyalty,consumers are very brand loyal and will not accept substitutes for which type of consumer product?

Correct AnswerverifiedShow Answer

Which of the following would most likely be considered a consumer product?

Correct AnswerverifiedShow Answer

Concept tests are part of which stage in the new-product development process?

Correct AnswerverifiedShow Answer

From an organization's perspective regarding its new products and innovations,which of the following new-product strategies has the lowest level of risk?

Correct AnswerverifiedShow Answer

How a person establishes expectations for a service not yet experienced is influenced by which of the following?

Correct AnswerverifiedShow Answer

It is common now for laptops and tablets to utilize multitouch functions,such as "pinch to zoom," either on the screen interface or with the tracking mouse.When the multitouch interface was first introduced,it was an example of which type of innovation?

Correct AnswerverifiedShow Answer

Which of the following statements regarding goods is most accurate?

Correct AnswerverifiedShow Answer

Before a new product or service is developed,a firm should have a precise protocol,a statement that identifies which of the following?

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

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

Correct AnswerverifiedShow Answer

Characterize the difference between a product line and a product mix.Give an example of each.

Correct AnswerverifiedA product line is a group of products or...View AnswerShow Answer

Services can be classified by their method of delivery.Services such as management consulting,plumbing,and cleaning are considered

Correct AnswerverifiedShow Answer

Commercialization refers to

Correct AnswerverifiedShow Answer

Which of the following firms uses crowdfunding to raise capital for products that are unlikely to get resources from traditional sources?

Correct AnswerverifiedShow Answer

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers.This was done on a limited scale to determine consumer reactions before national distribution of the product.At that time,Breyer's new product was in the __________ stage of the new-product process.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

What are the four types of consumer products? How do they differ?

Correct AnswerverifiedConvenience products,shopping products,s...View AnswerShow Answer

Parallel development,involving the simultaneous development of both the product and the production process,is the responsibility of

Correct AnswerverifiedShow Answer

All of the following are sources for new-product ideas except which?

Correct AnswerverifiedShow Answer

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A major characteristic of business produ...
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A product line is a group of products or...
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Convenience products,shopping products,s...
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