Question 1

In terms of brand loyalty, consumers prefer specific brands but will 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) A) and B)
G) B) and D)

Question 2

There are seven stages of the new-product development process. Stage 4 is the __________ stage.

Accepted Answer

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

Question 3

A retail chain hires a company to design and install a computer network that would allow each store in the chain to check the inventory of others in the chain for customer-requested items. The retail chain purchased which kind of business products?

Accepted Answer

A)  accessory equipment
B)  industrial services
C)  supply materials
D)  component parts
E)  installationsF) C) and E)
G) C) and D)

Question 4

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)  business firms or nonprofit organizationsF) B) and D)
G) A) and C)

Question 5

Describe the three ways services can be classified.

Accepted Answer

Services can be classified three ways ba...

Question 6

The first LCD (liquid crystal display)  flat-panel HD (high-definition)  TV is an example of which type of innovation?

Accepted Answer

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

Question 7

Goods can be divided into __________ goods and __________ goods.

Accepted Answer

A)  functional; aesthetic
B)  required; desired
C)  tactile; conceptual
D)  durable; nondurable
E)  product; serviceF) All of the above
G) A) and E)

Question 8

Consumer products refers to

Accepted Answer

A)  products used in the production of other items.
B)  products purchased by the ultimate consumer.
C)  products an industrial buyer will make an effort to seek out and buy.
D)  items purchased frequently and with a minimum of shopping effort.
E)  products that assist directly or indirectly in providing products for resale.F) C) and D)
G) B) and C)

Question 9

One reason new products fail is that although most major corporations use a formal decision making process, sometimes they fail to critically evaluate the progress along the way. This is why many firms have a __________ to ensure that problems are corrected before proceeding to the next stage.

Accepted Answer

A)  written protocol
B)  Stage-Gate process
C)  cross-functional team
D)  prototype test
E)  test marketF) A) and C)
G) None of the above

Question 10

With respect to distribution, shopping products are available

Accepted Answer

A)  by special order from the manufacturer.
B)  at an extremely small number of outlets.
C)  at relatively few outlets.
D)  at a large number of selective outlets.
E)  on a widespread basis at many outlets.F) A) and E)
G) C) and E)

Question 11

When marketing efforts usually involve not only gaining initial consumer awareness but also educating consumers on both the benefits and proper use of the product, this represents

Accepted Answer

A)  a spontaneous innovation.
B)  a continuous innovation.
C)  a discontinuous innovation.
D)  a dynamically continuous innovation.
E)  an evolutionary innovation.F) A) and B)
G) A) and C)

Question 12

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) A) and C)
G) A) and B)

Question 13

Products that usually last over many uses, such as cars and appliances, are referred to as

Accepted Answer

A)  endurable goods.
B)  nondisposable goods.
C)  imperishable goods.
D)  reliable products.
E)  durable goods.F) B) and C)
G) None of the above

Question 14

A 3M researcher worked with university students to develop the Post-it

Accepted Answer

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

Question 15

A good has tangible attributes that a consumer's __________ can perceive.

Accepted Answer

A)  cognitive intelligence
B)  vision
C)  knowledge of past experiences
D)  five senses
E)  emotional intelligenceF) C) and D)
G) B) and E)

Question 16

In a map of the United States that shows annual percentage change in unit volume, by state, for a given product, the annual growth rate in each state is shown with green meaning good and red meaning very poor. If you were a marketing manager faced with a map that showed mostly red in the Northeastern states and green in the Western states, which of the following would be the best action?

Accepted Answer

A)  Focus on the shortfalls in Idaho and Utah.
B)  Revise the relevant goals for both the East and West Coast.
C)  Conduct additional market research in the Southern United States.
D)  Examine your distribution system in the Northeastern United States.
E)  Change the marketing metric being used to evaluate the states individually.F) B) and D)
G) A) and C)

Question 17

Items consumed in one or a few uses, such as food and fuel, are referred to as

Accepted Answer

A)  services.
B)  perishable goods.
C)  durable goods.
D)  nondurable goods.
E)  disposable goods.F) A) and D)
G) B) and E)

Question 18

When only minor changes in a consumer's behavior are required to adopt a product innovation, this represents

Accepted Answer

A)  a continuous innovation.
B)  a discontinuous innovation.
C)  a disruptive innovation.
D)  a dynamically continuous innovation.
E)  an evolutionary innovation.F) All of the above
G) A) and B)

Question 19

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

Accepted Answer

A)  home security system
B)  disposable lighter
C)  microwave oven
D)  electric toothbrush
E)  video cameraF) A) and D)
G) C) and D)

Question 20

With respect to distribution, convenience products are available

Accepted Answer

A)  at relatively few outlets.
B)  at a large number of specialty outlets.
C)  only online from the manufacturer.
D)  only at convenience stores.
E)  on a widespread basis at many outlets.F) A) and B)
G) None of the above

Exam 10: Developing New Products and Services

Describe the three ways services can be classified.

Correct Answer
verified
Services can be classified three ways ba...
View Answer

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

Correct Answer
verified

Correct Answer
verified

When only minor changes in a consumer's behavior are required to adopt a product innovation, this represents

Correct Answer
verified

A 3M researcher worked with university students to develop the Post-it

Correct Answer
verified

One reason new products fail is that although most major corporations use a formal decision making process, sometimes they fail to critically evaluate the progress along the way. This is why many firms have a __________ to ensure that problems are corrected before proceeding to the next stage.

Correct Answer
verified

When marketing efforts usually involve not only gaining initial consumer awareness but also educating consumers on both the benefits and proper use of the product, this represents

Correct Answer
verified

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

Correct Answer
verified

The first LCD (liquid crystal display) flat-panel HD (high-definition) TV is an example of which type of innovation?

Correct Answer
verified

In terms of brand loyalty, consumers prefer specific brands but will accept substitutes for which type of consumer product?

Correct Answer
verified

With respect to distribution, shopping products are available

Correct Answer
verified

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

Correct Answer
verified

Products that usually last over many uses, such as cars and appliances, are referred to as

Correct Answer
verified

There are seven stages of the new-product development process. Stage 4 is the __________ stage.

Correct Answer
verified

A retail chain hires a company to design and install a computer network that would allow each store in the chain to check the inventory of others in the chain for customer-requested items. The retail chain purchased which kind of business products?

Correct Answer
verified

Consumer products refers to

Correct Answer
verified

With respect to distribution, convenience products are available

Correct Answer
verified

A good has tangible attributes that a consumer's __________ can perceive.

Correct Answer
verified

Goods can be divided into goods and goods.

Correct Answer
verified

Items consumed in one or a few uses, such as food and fuel, are referred to as

Correct Answer
verified

Exam 10: Developing New Products and Services

Describe the three ways services can be classified.

Correct AnswerverifiedServices can be classified three ways ba...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

When only minor changes in a consumer's behavior are required to adopt a product innovation, this represents

Correct AnswerverifiedShow Answer

A 3M researcher worked with university students to develop the Post-it

Correct AnswerverifiedShow Answer

One reason new products fail is that although most major corporations use a formal decision making process, sometimes they fail to critically evaluate the progress along the way. This is why many firms have a __________ to ensure that problems are corrected before proceeding to the next stage.

Correct AnswerverifiedShow Answer

When marketing efforts usually involve not only gaining initial consumer awareness but also educating consumers on both the benefits and proper use of the product, this represents

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The first LCD (liquid crystal display) flat-panel HD (high-definition) TV is an example of which type of innovation?

Correct AnswerverifiedShow Answer

In terms of brand loyalty, consumers prefer specific brands but will accept substitutes for which type of consumer product?

Correct AnswerverifiedShow Answer

With respect to distribution, shopping products are available

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

Products that usually last over many uses, such as cars and appliances, are referred to as

Correct AnswerverifiedShow Answer

There are seven stages of the new-product development process. Stage 4 is the __________ stage.

Correct AnswerverifiedShow Answer

A retail chain hires a company to design and install a computer network that would allow each store in the chain to check the inventory of others in the chain for customer-requested items. The retail chain purchased which kind of business products?

Correct AnswerverifiedShow Answer

Consumer products refers to

Correct AnswerverifiedShow Answer

With respect to distribution, convenience products are available

Correct AnswerverifiedShow Answer

A good has tangible attributes that a consumer's __________ can perceive.

Correct AnswerverifiedShow Answer

Goods can be divided into __________ goods and __________ goods.

Correct AnswerverifiedShow Answer

Items consumed in one or a few uses, such as food and fuel, are referred to as

Correct AnswerverifiedShow Answer

Correct Answer
verified
Services can be classified three ways ba...
View Answer

Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Correct Answer
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Goods can be divided into goods and goods.

Correct Answer
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Correct Answer
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