Question 1

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is referred to as

Accepted Answer

A)  a utility bundle.
B)  a product.
C)  a service.
D)  an idea.
E)  merchandise.F) B) and C)
G) A) and E)

Question 2

The Federal Trade Commission (FTC)  considers a product new only

Accepted Answer

A)  for a period of one year after it enters widespread distribution.
B)  if it is functionally different from a competitor's product.
C)  until a new and improved version of the same product is produced.
D)  for a period of six months after it enters regular distribution.
E)  for a period of 17 years at which time patent rights are returned to the public domain.F) D) and E)
G) B) and C)

Question 3

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

Question 4

Until 1996, U.S. carmakers sent very few right-hand-drive cars to Japan while German carmakers exported several models with the steering wheel on the right to accommodate driving on the left-hand side of the road in Japan. American car manufacturers could blame their failure to a great degree on

Accepted Answer

A)  an insignificant point of difference.
B)  too little market attractiveness.
C)  not satisfying customer needs on critical factors.
D)  poor product quality.
E)  incomplete market and product protocol.F) B) and D)
G) None of the above

Question 5

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

Accepted Answer

A)  tractor
B)  phosphoric acid
C)  photocopier maintenance
D)  athletic training facility
E)  syringesF) C) and D)
G) A) and C)

Question 6

Marketing dashboards are useful in measuring actual market performance versus the goals set in new-product planning, such as sales. Once shortfalls are identified, the first step would be to conduct market research to determine

Accepted Answer

A)  how to change the promotional strategy.
B)  whether the problem is internal or external to the organization.
C)  whether to drop or keep the failing product or market.
D)  whether to change the goal, and therefore, the marketing metric used to measure it.
E)  if the numbers used for evaluation in the marketing dashboard are accurate.F) A) and E)
G) D) and E)

Question 7

Which of the following best illustrates the concept of derived demand?

Accepted Answer

A)  The number of retail stores in a downtown area decreases even though demand for retail goods increases.
B)  An increase in the number of new, single-family homes results from a spike in the gross national product.
C)  A Chinese plastics company increases its output because of its customers' higher toy exports to the United States.
D)  A heat wave results in an increased demand for air conditioners.
E)  Honda reducing its car prices causes GM to do the same.F) C) and D)
G) A) and B)

Question 8

Vivienne, a college student with limited financial resources, was considering the purchase of a new automobile. She went from car dealer to car dealer in several different cities searching for the lowest price on a new economy car. She devoted a great deal of time and energy to getting the best value for her money. For Vivienne, an automobile was

Accepted Answer

A)  a specialty product.
B)  an unsought product.
C)  a discretionary product.
D)  a shopping product.
E)  a convenience product.F) B) and D)
G) C) and D)

Question 9

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

Accepted Answer

A)  bricks
B)  cotton fiber
C)  printing press
D)  suitcases
E)  mainframe computerF) A) and C)
G) A) and B)

Question 10

Among business products, printer paper would be classified as which type of support product?

Accepted Answer

A)  installations
B)  accessory equipment
C)  supplies
D)  industrial services
E)  raw materialsF) A) and D)
G) A) and E)

Question 11

The division of products into durable and nondurable goods helps to

Accepted Answer

A)  comply with NAICS guidelines.
B)  address environmental concerns.
C)  comply with ISO 9000 requirements.
D)  classify products for tax purposes.
E)  provide direction for marketing actions.F) A) and C)
G) None of the above

Question 12

A statement that identifies a well-defined target market; specific customers' needs, wants, and preferences; and what the product will be and do to satisfy consumers is referred to as a new product's or service's

Accepted Answer

A)  protocol.
B)  proposition.
C)  modus operandi.
D)  formula.
E)  methodology.F) B) and E)
G) B) and D)

Question 13

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

Question 14

Using an existing brand name to introduce a product that is new to the company into a totally new, unfamiliar market seems like a good idea. Several years ago, Harley-Davidson introduced perfume under the Harley-Davidson brand name and it failed quickly. This innovation strategy is known as a

Accepted Answer

A)  radical invention.
B)  product line extension.
C)  disruptive innovation.
D)  product deletion.
E)  brand extension.F) A) and B)
G) A) and C)

Question 15

An extremely large machine for producing sheet metal from steel ingots would be classified as which kind of business product?

Accepted Answer

A)  installations
B)  finished goods
C)  supplies
D)  industrial services
E)  raw materialsF) B) and E)
G) None of the above

Question 16

Which of the following is most likely to be an example of an unsought product?

Accepted Answer

A)  iPod MP3 player
B)  Lexus LS 460 luxury automobile
C)  flight on American Airlines to Phoenix
D)  Roget's Thesaurus
E)  Ivory soapF) B) and E)
G) A) and B)

Question 17

Services can be classified according to whether they are __________, business firms or nonprofit organizations, or government agencies.

Accepted Answer

A)  national or global
B)  independent contractors
C)  privately owned or publicly owned
D)  delivered by people or equipment
E)  owned by individuals or corporationsF) B) and E)
G) B) and D)

Question 18

A product line is a group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, __________, or fall within a given price range.

Accepted Answer

A)  are made of similar components
B)  are made from the same formulations
C)  require high levels of R&D
D)  have one SKU number
E)  are distributed through the same type of outletsF) None of the above
G) B) and E)

Question 19

According to Robert Stephens of the Geek Squad, the biggest complaint about technical support people is

Accepted Answer

A)  their inability to communicate in laymen's terms.
B)  that they are difficult to understand.
C)  that they take too long to answer the telephone.
D)  that they lack product knowledge.
E)  that they are rude and egotistical.F) C) and E)
G) None of the above

Question 20

X-1 performs all of the following activities during the development stage of its new-product process except

Accepted Answer

A)  conduct safety tests.
B)  conduct market tests.
C)  use 3-D drawings.
D)  conduct functionality tests.
E)  develop prototypes.F) C) and D)
G) B) and D)

Exam 10: Developing New Products and Services

Which of the following best illustrates the concept of derived demand?

Correct Answer
verified

Which of the following is most likely to be an example of an unsought product?

Correct Answer
verified

A product line is a group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, __________, or fall within a given price range.

Correct Answer
verified

An extremely large machine for producing sheet metal from steel ingots would be classified as which kind of business product?

Correct Answer
verified

According to Robert Stephens of the Geek Squad, the biggest complaint about technical support people is

Correct Answer
verified

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

Correct Answer
verified

The Federal Trade Commission (FTC) considers a product new only

Correct Answer
verified

Correct Answer
verified

Services can be classified according to whether they are __________, business firms or nonprofit organizations, or government agencies.

Correct Answer
verified

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 Answer
verified

Marketing dashboards are useful in measuring actual market performance versus the goals set in new-product planning, such as sales. Once shortfalls are identified, the first step would be to conduct market research to determine

Correct Answer
verified

X-1 performs all of the following activities during the development stage of its new-product process except

Correct Answer
verified

Until 1996, U.S. carmakers sent very few right-hand-drive cars to Japan while German carmakers exported several models with the steering wheel on the right to accommodate driving on the left-hand side of the road in Japan. American car manufacturers could blame their failure to a great degree on

Correct Answer
verified

A statement that identifies a well-defined target market; specific customers' needs, wants, and preferences; and what the product will be and do to satisfy consumers is referred to as a new product's or service's

Correct Answer
verified

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

Correct Answer
verified

Among business products, printer paper would be classified as which type of support product?

Correct Answer
verified

Using an existing brand name to introduce a product that is new to the company into a totally new, unfamiliar market seems like a good idea. Several years ago, Harley-Davidson introduced perfume under the Harley-Davidson brand name and it failed quickly. This innovation strategy is known as a

Correct Answer
verified

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is referred to as

Correct Answer
verified

The division of products into durable and nondurable goods helps to

Correct Answer
verified

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

Correct Answer
verified

Exam 10: Developing New Products and Services

Which of the following best illustrates the concept of derived demand?

Correct AnswerverifiedShow Answer

Which of the following is most likely to be an example of an unsought product?

Correct AnswerverifiedShow Answer

A product line is a group of product or service items that are closely related because they satisfy a class of needs, are used together, are sold to the same customer group, __________, or fall within a given price range.

Correct AnswerverifiedShow Answer

An extremely large machine for producing sheet metal from steel ingots would be classified as which kind of business product?

Correct AnswerverifiedShow Answer

According to Robert Stephens of the Geek Squad, the biggest complaint about technical support people is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The Federal Trade Commission (FTC) considers a product new only

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Services can be classified according to whether they are __________, business firms or nonprofit organizations, or government agencies.

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

Marketing dashboards are useful in measuring actual market performance versus the goals set in new-product planning, such as sales. Once shortfalls are identified, the first step would be to conduct market research to determine

Correct AnswerverifiedShow Answer

X-1 performs all of the following activities during the development stage of its new-product process except

Correct AnswerverifiedShow Answer

Until 1996, U.S. carmakers sent very few right-hand-drive cars to Japan while German carmakers exported several models with the steering wheel on the right to accommodate driving on the left-hand side of the road in Japan. American car manufacturers could blame their failure to a great degree on

Correct AnswerverifiedShow Answer

A statement that identifies a well-defined target market; specific customers' needs, wants, and preferences; and what the product will be and do to satisfy consumers is referred to as a new product's or service's

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Among business products, printer paper would be classified as which type of support product?

Correct AnswerverifiedShow Answer

Using an existing brand name to introduce a product that is new to the company into a totally new, unfamiliar market seems like a good idea. Several years ago, Harley-Davidson introduced perfume under the Harley-Davidson brand name and it failed quickly. This innovation strategy is known as a

Correct AnswerverifiedShow Answer

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is referred to as

Correct AnswerverifiedShow Answer

The division of products into durable and nondurable goods helps to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified