Question 1

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 th...

Question 2

Introducing new-products sequentially into geographic areas of the U.S. to allow production levels and marketing activities to build up gradually to minimize the risk of new-product failure is referred to as

Accepted Answer

A)  limited rollouts.
B)  phased rollouts.
C)  market-product expansion.
D)  regional rollouts.
E)  phased commercialization.F) B) and C)
G) A) and B)

Question 3

As a marketing term, __________ generally includes not only physical goods, but also services and ideas as well.

Accepted Answer

A)  marketing
B)  invention
C)  merchandise
D)  product
E)  conceptF) A) and B)
G) A) and E)

Question 4

Specialty products refer to

Accepted Answer

A)  products for which there are no close substitutes.
B)  products purchased for their prestige or high perceived value.
C)  products a consumer will make a specific effort to search out and buy.
D)  items for which the consumer compares several alternatives on several criteria such as price, quality, or style.
E)  items that the consumer does not know about or knows about but does not initially buy.F) B) and C)
G) All of the above

Question 5

A full-scale operating model of the product under development is referred to as a

Accepted Answer

A)  sample.
B)  framework.
C)  template.
D)  prototype.
E)  blueprint.F) C) and E)
G) B) and C)

Question 6

A new product or service protocol refers to

Accepted Answer

A)  the standardized procedures a firm follows for the inception, design, manufacturing, promotion, and distribution of a new product.
B)  a formalized statement of intent regarding what will be sold, to whom it will be sold, and by whom it will be sold.
C)  maintaining compliance with all licensing, manufacturing, and distribution standards established by the U.S. Federal Trade Commission (FT
C)  .
D)  a statement that identifies a well-defined target market, specific customers' needs, wants, and preferences, and what the product or service will be and do to satisfy consumers.
E)  the raw unwritten ideas to produce a single commercially successful new product.F) B) and C)
G) B) and E)

Question 7

What do a security guard, a plumber, and a management consultant have in common?

Accepted Answer

A)  They are all tangible services.
B)  They do not have problems with idle production capacity.
C)  They are all equipment-based services.
D)  They are all people-based services.
E)  They never use off-peak pricing.F) C) and E)
G) B) and E)

Question 8

Because of the time, cost, and confidentiality problems of test markets, consumer packaged goods firms often turn to __________, a technique that replicates a full-scale test market to a limited degree, often in a mall setting.

Accepted Answer

A)  partial rollouts
B)  screening and evaluation
C)  virtual reality testing
D)  time-to-market measures
E)  simulated test marketsF) A) and D)
G) A) and C)

Question 9

Ideally, before a new product or service is developed, a firm should have a precise protocol, which is a statement that identifies: (1)  a well-defined target market; (2)  specific customers' needs, wants, and preferences; and (3)  __________.

Accepted Answer

A)  what the product or service will be and do to satisfy consumers
B)  a clear plan for distribution
C)  clear financial goals and expectations
D)  an analysis of potential competitors' products or services
E)  a precise budget of how much can be spent for the marketing programF) B) and C)
G) C) and D)

Question 10

-Consider Figure 9-3 above. 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 D)
G) B) and E)

Question 11

The stage of the new-product process that turns an idea on paper into a prototype is referred to as __________.

Accepted Answer

A)  idea generation
B)  screening and evaluation
C)  business analysis
D)  commercialization
E)  developmentF) B) and D)
G) B) and C)

Question 12

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

Accepted Answer

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

Question 13

What does idle production capacity refer to?

Accepted Answer

A)  a situation where the demand for exceeds the availability of service providers and as a result, no services can be offered
B)  when the supply of service providers exceeds the primary demand for the service
C)  a situation where a service provider is available but there is no demand for the service
D)  integrating the service component of the marketing mix with efforts to influence consumer demand
E)  the potential profits of one service provider serving multiple clients at the same timeF) B) and E)
G) B) and D)

Question 14

The addition of Clorox II bleach to Tide laundry detergents is an example of a

Accepted Answer

A)  discontinuous innovation.
B)  bundled innovation.
C)  dynamically continuous innovation.
D)  disruptive innovation.
E)  continuous innovation.F) A) and B)
G) B) and D)

Question 15

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable. The Love Bandit Bear is one bear it designed for people to give to each other on Valentine's Day. The Love Bandit Bear is an example of a

Accepted Answer

A)  product item.
B)  product mix.
C)  product class.
D)  product form.
E)  product lineF) None of the above
G) B) and D)

Question 16

Services can be classified according to whether they are delivered by people or equipment, __________, or government agencies.

Accepted Answer

A)  national or global
B)  use independent contractors
C)  privately owned or publicly owned
D)  owned by individuals or corporations
E)  for profit or nonprofit organizationsF) B) and C)
G) C) and D)

Question 17

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) All of the above
G) A) and E)

Question 18

A __________ is defined as an item consumed in one or a few uses.

Accepted Answer

A)  durable good
B)  convenience good
C)  specialty good
D)  shopping good
E)  nondurable goodF) B) and E)
G) A) and B)

Question 19

Kimberly-Clark developed its Avert Virucidal tissues that contained vitamin C derivatives, which were scientifically designed to kill cold and flu germs when users sneezed, coughed, or blew their noses into them. Unfortunately, people didn't believe the claim and were frightened by the "cidal" in the brand name. The reason for this product failure was

Accepted Answer

A)  an insignificant point of difference.
B)  too little market attractiveness.
C)  poor execution of the marketing mix.
D)  poor product quality.
E)  incomplete market and product protocol.F) A) and B)
G) A) and C)

Question 20

Business products refer to

Accepted Answer

A)  products organizations buy that assist in providing other products for resale.
B)  supplies necessary for the day-to-day operations of a business.
C)  ancillary services necessary for the operation of a business.
D)  products that are sold exclusively to for-profit businesses.
E)  products purchased by the ultimate consumer.F) C) and D)
G) A) and E)

Exam 9: Developing New Products and Services

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

Correct Answer
verified
A product line is a group of products th...
View Answer

A full-scale operating model of the product under development is referred to as a

Correct Answer
verified

Introducing new-products sequentially into geographic areas of the U.S. to allow production levels and marketing activities to build up gradually to minimize the risk of new-product failure is referred to as

Correct Answer
verified

Specialty products refer to

Correct Answer
verified

What does idle production capacity refer to?

Correct Answer
verified

The stage of the new-product process that turns an idea on paper into a prototype is referred to as __________.

Correct Answer
verified

Ideally, before a new product or service is developed, a firm should have a precise protocol, which is a statement that identifies: (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) __________.

Correct Answer
verified

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable. The Love Bandit Bear is one bear it designed for people to give to each other on Valentine's Day. The Love Bandit Bear is an example of a

Correct Answer
verified

The addition of Clorox II bleach to Tide laundry detergents is an example of a

Correct Answer
verified

Correct Answer
verified

What do a security guard, a plumber, and a management consultant have in common?

Correct Answer
verified

Services can be classified according to whether they are delivered by people or equipment, __________, or government agencies.

Correct Answer
verified

Business products refer to

Correct Answer
verified

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

Correct Answer
verified

A __________ is defined as an item consumed in one or a few uses.

Correct Answer
verified

A new product or service protocol refers to

Correct Answer
verified

Because of the time, cost, and confidentiality problems of test markets, consumer packaged goods firms often turn to __________, a technique that replicates a full-scale test market to a limited degree, often in a mall setting.

Correct Answer
verified

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

Correct Answer
verified

-Consider Figure 9-3 above. Services can be classified by their method of delivery. Box B represents

Correct Answer
verified

As a marketing term, __________ generally includes not only physical goods, but also services and ideas as well.

Correct Answer
verified

Exam 9: Developing New Products and Services

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 th...View AnswerShow Answer

A full-scale operating model of the product under development is referred to as a

Correct AnswerverifiedShow Answer

Introducing new-products sequentially into geographic areas of the U.S. to allow production levels and marketing activities to build up gradually to minimize the risk of new-product failure is referred to as

Correct AnswerverifiedShow Answer

Specialty products refer to

Correct AnswerverifiedShow Answer

What does idle production capacity refer to?

Correct AnswerverifiedShow Answer

The stage of the new-product process that turns an idea on paper into a prototype is referred to as __________.

Correct AnswerverifiedShow Answer

Ideally, before a new product or service is developed, a firm should have a precise protocol, which is a statement that identifies: (1) a well-defined target market; (2) specific customers' needs, wants, and preferences; and (3) __________.

Correct AnswerverifiedShow Answer

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable. The Love Bandit Bear is one bear it designed for people to give to each other on Valentine's Day. The Love Bandit Bear is an example of a

Correct AnswerverifiedShow Answer

The addition of Clorox II bleach to Tide laundry detergents is an example of a

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

What do a security guard, a plumber, and a management consultant have in common?

Correct AnswerverifiedShow Answer

Services can be classified according to whether they are delivered by people or equipment, __________, or government agencies.

Correct AnswerverifiedShow Answer

Business products refer to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A __________ is defined as an item consumed in one or a few uses.

Correct AnswerverifiedShow Answer

A new product or service protocol refers to

Correct AnswerverifiedShow Answer

Because of the time, cost, and confidentiality problems of test markets, consumer packaged goods firms often turn to __________, a technique that replicates a full-scale test market to a limited degree, often in a mall setting.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

-Consider Figure 9-3 above. Services can be classified by their method of delivery. Box B represents

Correct AnswerverifiedShow Answer

As a marketing term, __________ generally includes not only physical goods, but also services and ideas as well.

Correct AnswerverifiedShow Answer

Correct Answer
verified
A product line is a group of products th...
View Answer

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