Question 1

Time to market or __________ is often vital in introducing a new product.

Accepted Answer

A)  production time
B)  marketing time
C)  speed
D)  R & D time
E)  delivery timeF) A) and B)
G) C) and E)

Question 2

Equipment-based services like ATMs, online brokerage firms, and automated car washes, do not have the marketing concerns of

Accepted Answer

A)  inconsistency.
B)  intangibility.
C)  inseparability.
D)  inventory.
E)  deliverable.F) A) and B)
G) B) and E)

Question 3

What is the difference between intangibility and inseparability of services?

Accepted Answer

Intangibility refers to the fact that se...

Question 4

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.For the Vermont Teddy Bear Company, Teddy bears are an example of a

Accepted Answer

A)  product class.
B)  product mix.
C)  product line.
D)  marketing category.
E)  product category.F) C) and D)
G) B) and D)

Question 5

The movie A Beautiful Mind opened originally in a select number of theaters before opening nationwide.After its theater run, it was shown on pay-per-view channels and then on premium movie channels.The movie was made widely available in video stores.What type(s) of consumer product is this movie? Explain your answer.

Accepted Answer

Student answers may vary, but all should...

Question 6

The Federal Trade Commission considers a product new only

Accepted Answer

A)  for a period of one year after it enters regular distribution.
B)  until a similar product is introduced by a competitor.
C)  until a newer version of the same product is produced.
D)  for a period of six months after it enters regular distribution.
E)  for a period of seventeen years at which time patent rights are returned to the public domain.F) A) and C)
G) A) and B)

Question 7

Consumers have more difficulty evaluating services than they do products; the difficulty results from the

Accepted Answer

A)  inseparability of services from consumers.
B)  intangibility of services.
C)  incongruity of services.
D)  inflexibility of services.
E)  insignificance of services.F) None of the above
G) B) and D)

Question 8

225 Who wouldn't want to eat Garlic Cake? Garlic Cake was supposed to be served as an hors d'oeuvre with sweet breads, spreads, and meats, but somehow the company forgot to tell this to potential consumers.This product failure demonstrates

Accepted Answer

A)  not satisfying customer needs on critical factors.
B)  poor product quality.
C)  an insignificant point of difference.
D)  incomplete market and product protocol.
E)  poor execution of the marketing mix.F) C) and E)
G) A) and B)

Question 9

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 would have purchased

Accepted Answer

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

Question 10

Distribution is very limited with which of the following types of consumer products?

Accepted Answer

A)  shopping product
B)  convenience products
C)  specialty products
D)  unsought products
E)  servicesF) All of the above
G) A) and C)

Question 11

A product line is a group of products 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 component parts
B)  can be sold to a variety of customers
C)  require high levels of R & D
D)  always carry the same brand name
E)  distributed through the same type of outletsF) A) and C)
G) C) and E)

Question 12

One of the eight primary reasons for product failure is __________.

Accepted Answer

A)  there is too little market attractiveness
B)  the product is too innovative
C)  government intervention
D)  too socially controversial
E)  the idea was just plain "dumb"F) B) and C)
G) A) and B)

Question 13

List two reasons why test marking certain products might not be viable.

Accepted Answer

Testing a service beyond the concept lev...

Question 14

Services depend on the people who provide them.As a result, their quality varies with each person's capabilities and day-to-day job performance.This element is referred to as __________.

Accepted Answer

A)  variation
B)  differentiation
C)  evaluation
D)  inconsistency
E)  intangibilityF) A) and C)
G) None of the above

Question 15

Among consumer products, advertising and wide distribution are especially important for

Accepted Answer

A)  durable goods.
B)  unsought products.
C)  nondurable goods.
D)  production goods.
E)  semidurable goods.F) A) and E)
G) C) and D)

Question 16

FIGURE 10-8 
-The Thirsty Dog! & Thirsty Cat! Product (see Figure 10-8 above), failed in the marketplace for a variety of reasons.List and describe the eight factors that often contribute to a new-product failures.

Accepted Answer

The eight factors listed in the text inc...

Question 17

Product refers to

Accepted Answer

A)  a tangible good received in exchange for a person's time and effort.
B)  a tangible good received in exchange for providing value.
C)  a good that has in some way been altered, combined, or improved and ultimately sold to a consumer.
D)  good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers and is received in exchange for legal tender (money) .
E)  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.F) A) and C)
G) B) and E)

Question 18

Consumer product classifications are based upon three variables: 1)  effort the consumer spends on the decision, 2)  frequency of purchase, and 3)

Accepted Answer

A)  amount of money the customer is willing to spend.
B)  number of competing products or product substitutes.
C)  demographics of the consumer.
D)  attributes used in making the purchase decision.
E)  consumer psychographics.F) A) and B)
G) B) and C)

Question 19

Sarah has a backache due to overexertion.She believes a massage would loosen her back muscles and make her feel better.She is concerned because a massage unlike a pair of shoes cannot be touched or seen before she buys it.Which characteristic of service is she concerned about?

Accepted Answer

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

Question 20

One of the eight primary reasons for product failure is __________.

Accepted Answer

A)  the product is too innovative
B)  poor product quality
C)  government intervention
D)  too socially controversial
E)  the idea was just plain "dumb"F) D) and E)
G) None of the above

Exam 10: Developing New Products and Services

Correct Answer
verified
Student answers may vary, but all should...
View Answer

List two reasons why test marking certain products might not be viable.

Correct Answer
verified
Testing a service beyond the concept lev...
View Answer

FIGURE 10-8 -The Thirsty Dog! & Thirsty Cat! Product (see Figure 10-8 above), failed in the marketplace for a variety of reasons.List and describe the eight factors that often contribute to a new-product failures.

Correct Answer
verified
The eight factors listed in the text inc...
View Answer

One of the eight primary reasons for product failure is __________.

Correct Answer
verified

Among consumer products, advertising and wide distribution are especially important for

Correct Answer
verified

Equipment-based services like ATMs, online brokerage firms, and automated car washes, do not have the marketing concerns of

Correct Answer
verified

One of the eight primary reasons for product failure is __________.

Correct Answer
verified

Distribution is very limited with which of the following types of consumer products?

Correct Answer
verified

Time to market or __________ is often vital in introducing a new product.

Correct Answer
verified

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.For the Vermont Teddy Bear Company, Teddy bears are an example of a

Correct Answer
verified

225 Who wouldn't want to eat Garlic Cake? Garlic Cake was supposed to be served as an hors d'oeuvre with sweet breads, spreads, and meats, but somehow the company forgot to tell this to potential consumers.This product failure demonstrates

Correct Answer
verified

A product line is a group of products 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

Product refers to

Correct Answer
verified

Sarah has a backache due to overexertion.She believes a massage would loosen her back muscles and make her feel better.She is concerned because a massage unlike a pair of shoes cannot be touched or seen before she buys it.Which characteristic of service is she concerned about?

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 would have purchased

Correct Answer
verified

Consumer product classifications are based upon three variables: 1) effort the consumer spends on the decision, 2) frequency of purchase, and 3)

Correct Answer
verified

What is the difference between intangibility and inseparability of services?

Correct Answer
verified
Intangibility refers to the fact that se...
View Answer

Services depend on the people who provide them.As a result, their quality varies with each person's capabilities and day-to-day job performance.This element is referred to as __________.

Correct Answer
verified

The Federal Trade Commission considers a product new only

Correct Answer
verified

Consumers have more difficulty evaluating services than they do products; the difficulty results from the

Correct Answer
verified

Exam 10: Developing New Products and Services

Correct AnswerverifiedStudent answers may vary, but all should...View AnswerShow Answer

List two reasons why test marking certain products might not be viable.

Correct AnswerverifiedTesting a service beyond the concept lev...View AnswerShow Answer

FIGURE 10-8 -The Thirsty Dog! & Thirsty Cat! Product (see Figure 10-8 above), failed in the marketplace for a variety of reasons.List and describe the eight factors that often contribute to a new-product failures.

Correct AnswerverifiedThe eight factors listed in the text inc...View AnswerShow Answer

One of the eight primary reasons for product failure is __________.

Correct AnswerverifiedShow Answer

Among consumer products, advertising and wide distribution are especially important for

Correct AnswerverifiedShow Answer

Equipment-based services like ATMs, online brokerage firms, and automated car washes, do not have the marketing concerns of

Correct AnswerverifiedShow Answer

One of the eight primary reasons for product failure is __________.

Correct AnswerverifiedShow Answer

Distribution is very limited with which of the following types of consumer products?

Correct AnswerverifiedShow Answer

Time to market or __________ is often vital in introducing a new product.

Correct AnswerverifiedShow Answer

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.For the Vermont Teddy Bear Company, Teddy bears are an example of a

Correct AnswerverifiedShow Answer

225 Who wouldn't want to eat Garlic Cake? Garlic Cake was supposed to be served as an hors d'oeuvre with sweet breads, spreads, and meats, but somehow the company forgot to tell this to potential consumers.This product failure demonstrates

Correct AnswerverifiedShow Answer

A product line is a group of products 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

Product refers to

Correct AnswerverifiedShow Answer

Sarah has a backache due to overexertion.She believes a massage would loosen her back muscles and make her feel better.She is concerned because a massage unlike a pair of shoes cannot be touched or seen before she buys it.Which characteristic of service is she concerned about?

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 would have purchased

Correct AnswerverifiedShow Answer

Consumer product classifications are based upon three variables: 1) effort the consumer spends on the decision, 2) frequency of purchase, and 3)

Correct AnswerverifiedShow Answer

What is the difference between intangibility and inseparability of services?

Correct AnswerverifiedIntangibility refers to the fact that se...View AnswerShow Answer

Services depend on the people who provide them.As a result, their quality varies with each person's capabilities and day-to-day job performance.This element is referred to as __________.

Correct AnswerverifiedShow Answer

The Federal Trade Commission considers a product new only

Correct AnswerverifiedShow Answer

Consumers have more difficulty evaluating services than they do products; the difficulty results from the

Correct AnswerverifiedShow Answer

Correct Answer
verified
Student answers may vary, but all should...
View Answer

Correct Answer
verified
Testing a service beyond the concept lev...
View Answer

Correct Answer
verified
The eight factors listed in the text inc...
View 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
Intangibility refers to the fact that se...
View Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified