Question 1

The inventory carrying costs for real estate agencies are low because they

Accepted Answer

A)   use a straight salary compensation plan.
B)   allow personnel to work any hours a day and any number of days per week.
C)   decrease the number of workdays per week, but increase the hours per day.
D)   have employees who work on commission and need little expensive equipment.
E)   are responsible for their own training, transportation, and supplies.F) A) and C)
G) All of the above

Question 2

Dragon Naturally Speaking,a speech recognition software program that allows you to use your voice instead of a keyboard to input text into a word processing program,is an example of

Accepted Answer

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

Question 3

The Federal Trade Commission (FTC) advises that products should be labeled as "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 an 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) None of the above
G) A) and D)

Question 4

Fifty percent or more of American adults have not had their teeth checked by a dentist within the past five years.For these people,dental services would most likely be classified as

Accepted Answer

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

Question 5

A discontinuous innovation is a product that

Accepted Answer

A)   disrupts consumers' normal routine but does not require totally new learning.
B)   requires no new learning by consumers.
C)   is not purchased by innovators and early adopters.
D)   initiates obsolescence of a product class.
E)   requires consumers to learn entirely new patterns of behavior and product usage.F) A) and E)
G) A) and D)

Question 6

What are the eight marketing reasons for new-product failures?

Accepted Answer

There are eight main marketing reasons a...

Question 7

Variations of a product (shape,configuration) within a product class are referred to as the

Accepted Answer

A)   product form.
B)   product item.
C)   product line.
D)   product class.
E)   product mix.F) C) and D)
G) C) and E)

Question 8

Open innovation is

Accepted Answer

A)   a clear plan for new product distribution that will ensure access for all potential customers within the first year of release.
B)   a formal and comprehensive analysis of competitors' products to discover ideas for product improvements.
C)   an unlimited budget that can be spent for the marketing program for a new product.
D)   designing a product around specific customers' needs, wants, and preferences.
E)   the practices and processes that encourage the use of external and internal ideas and collaboration when conceiving, producing, and marketing new products.F) B) and C)
G) C) and D)

Question 9

If a new grocery product does not achieve a predetermined sales target,some retailers require a penalty payment by the manufacturer to compensate them for sales that its valuable shelf space was unable to generate.What is this type of payment called?

Accepted Answer

A)   an opportunity cost charge
B)   lost sales fee
C)   shelf space allowance
D)   product displacement fee
E)   a failure feeF) A) and B)
G) A) and C)

Question 10

Business researchers emphasize that firms must actively involve customers and suppliers in the new-product development process.This means that the focus should be on what the new product will __________ rather than simply what they want.

Accepted Answer

A)   look like
B)   cost them
C)   do for them
D)   feel like
E)   consist of in terms of new featuresF) A) and D)
G) A) and C)

Question 11

The stage of the new-product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort is referred to as

Accepted Answer

A)   development.
B)   Stage-Gate.
C)   idea generation.
D)   business analysis.
E)   screening and evaluation.F) C) and D)
G) All of the above

Question 12

Open innovation may enhance the __________ stage of the new-product development process.

Accepted Answer

A)   internal collaboration
B)   screening and evaluation
C)   product development
D)   new-product strategy development
E)   idea generationF) D) and E)
G) A) and D)

Question 13

A product can be classified as new from all of the following perspectives except which?

Accepted Answer

A)   the organization's
B)   existing offerings
C)   legal
D)   the firm's competitors
E)   the consumer'sF) C) and D)
G) A) and B)

Question 14

Kroger required that Birds Eye pay $15,000 per month to get its new Vegetable Quinoa Pilaf placed in the middle shelves in the frozen vegetable freezer section of all its supermarkets around the country.This payment is an example of a

Accepted Answer

A)   product placement fee.
B)   bribe.
C)   slotting fee.
D)   product support fee.
E)   shelf space allowance.F) None of the above
G) A) and D)

Question 15

The categories for people-based services include

Accepted Answer

A)   volunteers, skilled operators, and professionals.
B)   unskilled labor, skilled labor, and professionals.
C)   unskilled operators, unskilled labor, and skilled labor.
D)   automated, skilled operators, and unskilled labor.
E)   automated, skilled operators, and professionals.F) A) and B)
G) A) and E)

Question 16

If you watch much television,you have seen the ads that show a controlled crash of a car containing crash test dummies and the resultant vehicular damage.In the new-product development process,this safety test would occur during the __________ stage.

Accepted Answer

A)   development
B)   market testing
C)   idea generation
D)   screening and evaluation
E)   business analysisF) B) and C)
G) None of the above

Question 17

Equipment-based services such as self-checkout,self-check-in,and online trading do not have the marketing concern of

Accepted Answer

A)   inconsistency.
B)   intangibility.
C)   inseparability.
D)   inventory.
E)   independence.F) None of the above
G) A) and E)

Question 18

Andrea Arenas is the owner of 2 Places at 1 Time,a concierge company.She and her staff of 60 perform everyday services,such as walking the dog,picking up cleaning,waiting for the repairman,and going to the post office for people who are too busy to perform these tasks.One way she tries to avoid ___________ of services for her regular customers is to make sure that the same well-trained person is always assigned to work for the same client.

Accepted Answer

A)   inseparability
B)   inconsistency
C)   incongruity
D)   inflexibility
E)   intangibilityF) B) and D)
G) C) and E)

Question 19

Products organizations buy that assist in providing other products for resale are referred to as

Accepted Answer

A)   reseller goods.
B)   wholesale goods.
C)   business products.
D)   ancillary products.
E)   retail products.F) B) and D)
G) B) and C)

Question 20

Groupthink occurs in a new product planning process when

Accepted Answer

A)   everyone has an opinion but no one is willing to take charge and guide the discussion.
B)   everyone has the same idea after using the brainstorming idea-generation technique.
C)   there is too much competition among marketing managers, so no one is willing to share his/her ideas.
D)   someone suspects a problem with a new product concept but is afraid to speak up because everyone else is so enthusiastic.
E)   top management wants the new product to go forward regardless of what anyone else thinks.F) A) and D)
G) B) and E)

Exam 9: Developing New Products and Services

Business researchers emphasize that firms must actively involve customers and suppliers in the new-product development process.This means that the focus should be on what the new product will __________ rather than simply what they want.

Correct Answer
verified

The inventory carrying costs for real estate agencies are low because they

Correct Answer
verified

Open innovation may enhance the __________ stage of the new-product development process.

Correct Answer
verified

What are the eight marketing reasons for new-product failures?

Correct Answer
verified
There are eight main marketing reasons a...
View Answer

A product can be classified as new from all of the following perspectives except which?

Correct Answer
verified

Kroger required that Birds Eye pay $15,000 per month to get its new Vegetable Quinoa Pilaf placed in the middle shelves in the frozen vegetable freezer section of all its supermarkets around the country.This payment is an example of a

Correct Answer
verified

Variations of a product (shape,configuration) within a product class are referred to as the

Correct Answer
verified

If a new grocery product does not achieve a predetermined sales target,some retailers require a penalty payment by the manufacturer to compensate them for sales that its valuable shelf space was unable to generate.What is this type of payment called?

Correct Answer
verified

Fifty percent or more of American adults have not had their teeth checked by a dentist within the past five years.For these people,dental services would most likely be classified as

Correct Answer
verified

Groupthink occurs in a new product planning process when

Correct Answer
verified

Products organizations buy that assist in providing other products for resale are referred to as

Correct Answer
verified

A discontinuous innovation is a product that

Correct Answer
verified

Correct Answer
verified

If you watch much television,you have seen the ads that show a controlled crash of a car containing crash test dummies and the resultant vehicular damage.In the new-product development process,this safety test would occur during the __________ stage.

Correct Answer
verified

The stage of the new-product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort is referred to as

Correct Answer
verified

Equipment-based services such as self-checkout,self-check-in,and online trading do not have the marketing concern of

Correct Answer
verified

Dragon Naturally Speaking,a speech recognition software program that allows you to use your voice instead of a keyboard to input text into a word processing program,is an example of

Correct Answer
verified

The Federal Trade Commission (FTC) advises that products should be labeled as "new" only

Correct Answer
verified

Open innovation is

Correct Answer
verified

The categories for people-based services include

Correct Answer
verified

Exam 9: Developing New Products and Services

Business researchers emphasize that firms must actively involve customers and suppliers in the new-product development process.This means that the focus should be on what the new product will __________ rather than simply what they want.

Correct AnswerverifiedShow Answer

The inventory carrying costs for real estate agencies are low because they

Correct AnswerverifiedShow Answer

Open innovation may enhance the __________ stage of the new-product development process.

Correct AnswerverifiedShow Answer

What are the eight marketing reasons for new-product failures?

Correct AnswerverifiedThere are eight main marketing reasons a...View AnswerShow Answer

A product can be classified as new from all of the following perspectives except which?

Correct AnswerverifiedShow Answer

Kroger required that Birds Eye pay $15,000 per month to get its new Vegetable Quinoa Pilaf placed in the middle shelves in the frozen vegetable freezer section of all its supermarkets around the country.This payment is an example of a

Correct AnswerverifiedShow Answer

Variations of a product (shape,configuration) within a product class are referred to as the

Correct AnswerverifiedShow Answer

If a new grocery product does not achieve a predetermined sales target,some retailers require a penalty payment by the manufacturer to compensate them for sales that its valuable shelf space was unable to generate.What is this type of payment called?

Correct AnswerverifiedShow Answer

Fifty percent or more of American adults have not had their teeth checked by a dentist within the past five years.For these people,dental services would most likely be classified as

Correct AnswerverifiedShow Answer

Groupthink occurs in a new product planning process when

Correct AnswerverifiedShow Answer

Products organizations buy that assist in providing other products for resale are referred to as

Correct AnswerverifiedShow Answer

A discontinuous innovation is a product that

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

If you watch much television,you have seen the ads that show a controlled crash of a car containing crash test dummies and the resultant vehicular damage.In the new-product development process,this safety test would occur during the __________ stage.

Correct AnswerverifiedShow Answer

The stage of the new-product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort is referred to as

Correct AnswerverifiedShow Answer

Equipment-based services such as self-checkout,self-check-in,and online trading do not have the marketing concern of

Correct AnswerverifiedShow Answer

Dragon Naturally Speaking,a speech recognition software program that allows you to use your voice instead of a keyboard to input text into a word processing program,is an example of

Correct AnswerverifiedShow Answer

The Federal Trade Commission (FTC) advises that products should be labeled as "new" only

Correct AnswerverifiedShow Answer

Open innovation is

Correct AnswerverifiedShow Answer

The categories for people-based services include

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified
There are eight main marketing reasons a...
View Answer

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verified

Correct Answer
verified

Correct Answer
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Correct Answer
verified

Correct Answer
verified

Correct Answer
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Correct Answer
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Correct Answer
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