Question 1

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as

Accepted Answer

A)  services.
B)  goods.
C)  products.
D)  marketing mix.
E)  ideas.F) A) and C)
G) B) and E)

Question 2

In the early 1900s, your great-great-grandfather probably purchased his first automobile. After years of driving a horse and buggy, he got into his new car and drove it into his new garage. The new automobile was an example of

Accepted Answer

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

Question 3

The stage of the new-product process that exposes actual products to prospective consumers under realistic purchase conditions to see if they will buy is referred to as

Accepted Answer

A)  development.
B)  market testing.
C)  business analysis.
D)  commercialization.
E)  screening and evaluation.F) A) and B)
G) C) and E)

Question 4

Supplies are support products that include items such as

Accepted Answer

A)  stationery, paper clips, and brooms.
B)  tools and office equipment.
C)  buildings and fixed equipment.
D)  raw materials and component parts.
E)  maintenance, repair, and legal services.F) C) and D)
G) A) and B)

Question 5

According to the textbook, which of the following firms is in the development stage of the new-product development process for a driverless car?

Accepted Answer

A)  Honda
B)  Apple
C)  Google
D)  Ford
E)  General MotorsF) None of the above
G) A) and D)

Question 6

Among business products, supplies usually consist of

Accepted Answer

A)  buildings and fixed equipment.
B)  items used in the manufacturing process that become part of the final product.
C)  tools and office equipment.
D)  items such as pens, batteries, and lightbulbs.
E)  raw materials and component parts.F) C) and D)
G) B) and E)

Question 7

Compare continuous, dynamically continuous, and discontinuous innovations. Provide the marketing strategy and an example of each.

Accepted Answer

With a continuous innovation, no new learning by consumers is required. The marketing emphasis, therefore, is on generating awareness for new attributes or features, such as those incorporated in Colgate Total Advanced Gum Defense Toothpaste. Dynamically continuous innovations require only minor changes in behavior. Marketing activities focus on stressing product benefits, advantages and proper use. Proctor & Gamble's Swiffer WetJet is a successful example of an all-in-one mopping solution. A discontinuous innovation requires consumers to establish entirely new consumption patterns to use the product. Marketing these new products often requires a significant amount of time educating consumers on how to use the product, such as a wireless router that may result in Best Buy's Geek Squad to help consumers.

Question 8

Which of the following is an example of a product line?

Accepted Answer

A)  Scope mouthwash
B)  Zephyrhills natural spring water in eight-ounce bottles
C)  The Yellow Pages for Gainesville, Florida
D)  Hallmark Mother's Day, Father's Day, and Grandparent's Day cards
E)  Apple iPadF) C) and D)
G) B) and E)

Question 9

A(n)  __________ is the unique identification number that defines an item for ordering or inventory purposes.

Accepted Answer

A)  unique stock mark
B)  QR code
C)  stock keeping unit
D)  order quantity code
E)  NAICS stock codeF) B) and C)
G) A) and E)

Question 10

You decide to buy a new car. You talk to friends about it, research mechanical specifications in Consumer Reports, test-drive different makes and models, and compare prices at several dealerships. Into which classification of consumer products would your new car purchase fall?

Accepted Answer

A)  specialty product
B)  unsought product
C)  discretionary product
D)  shopping product
E)  convenience productF) A) and D)
G) D) and E)

Question 11

Identify and describe each stage in the new-product development process in the correct order.

Accepted Answer

There are seven stages in the new-produc...

Question 12

Factors such as specifying product features, marketing strategy, and financial projections are a part of which stage of the new-product process?

Accepted Answer

A)  idea generation
B)  market testing
C)  development
D)  commercialization
E)  business analysisF) B) and D)
G) B) and C)

Question 13

Ideally, before a new product or service is developed, a firm should have a precise __________, which is a statement defining the target market, specifying customers' needs, and defining what the product or service will be and do to satisfy consumers.

Accepted Answer

A)  formula
B)  contract
C)  modus operandi
D)  protocol
E)  methodologyF) A) and B)
G) C) and D) D

Question 14

The type of business products known as support products includes installations, accessory equipment, supplies, and

Accepted Answer

A)  industrial services.
B)  components.
C)  materials.
D)  derived products.
E)  complementary products.F) C) and D)
G) A) and B)

Question 15

Idea generation refers to

Accepted Answer

A)  the stage of the new-product development process when concepts are converted to prototypes.
B)  the stage of the new-product development process that develops a pool of concepts to serve as candidates for new-products.
C)  the stage of the new-product development process where possible promotional campaigns and advertising themes are created.
D)  the techniques used to screen and reject those ideas that have no merit.
E)  the discussion and decision of which target market segments will be selected.F) A) and B)
G) C) and E)

Question 16

Commercialization is the stage in the new-product process

Accepted Answer

A)  at which the product is positioned and launched in full-scale production and sales.
B)  during which the firm performs its final evaluations of the new product.
C)  when second-year sales forecasts are compared to actual first-year sales figures using a marketing dashboard.
D)  when advertising campaigns are evaluated using Starch scores to identify brand awareness.
E)  at which the product generates the greatest sales and profits.F) C) and D)
G) A) and B)

Question 17

A __________ 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, are distributed through the same type of outlets, or fall within a given price range.

Accepted Answer

A)  product item
B)  product line
C)  product mix
D)  product class
E)  product formF) All of the above
G) B) and E)

Question 18

A product that disrupts consumers' normal routine but does not require totally new learning is a

Accepted Answer

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

Question 19

Which of the following is the best example of a nondurable good?

Accepted Answer

A)  automobile
B)  e-reader
C)  baseball
D)  gasoline
E)  shoesF) A) and E)
G) None of the above D

Question 20

X-1 uses all of the following sources to generate new-product ideas except

Accepted Answer

A)  co-workers.
B)  Team X-1.
C)  employees.
D)  retail buyers.
E)  R&D lab IDEO.F) C) and D)
G) A) and B)

Exam 10: Developing New Products and Services

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as

Correct Answer
verified

In the early 1900s, your great-great-grandfather probably purchased his first automobile. After years of driving a horse and buggy, he got into his new car and drove it into his new garage. The new automobile was an example of

Correct Answer
verified

The stage of the new-product process that exposes actual products to prospective consumers under realistic purchase conditions to see if they will buy is referred to as

Correct Answer
verified

Supplies are support products that include items such as

Correct Answer
verified

According to the textbook, which of the following firms is in the development stage of the new-product development process for a driverless car?

Correct Answer
verified

Among business products, supplies usually consist of

Correct Answer
verified

Compare continuous, dynamically continuous, and discontinuous innovations. Provide the marketing strategy and an example of each.

Which of the following is an example of a product line?

Correct Answer
verified

A(n) __________ is the unique identification number that defines an item for ordering or inventory purposes.

Correct Answer
verified

You decide to buy a new car. You talk to friends about it, research mechanical specifications in Consumer Reports, test-drive different makes and models, and compare prices at several dealerships. Into which classification of consumer products would your new car purchase fall?

Correct Answer
verified

Identify and describe each stage in the new-product development process in the correct order.

Correct Answer
verified
There are seven stages in the new-produc...
View Answer

Factors such as specifying product features, marketing strategy, and financial projections are a part of which stage of the new-product process?

Correct Answer
verified

Ideally, before a new product or service is developed, a firm should have a precise __________, which is a statement defining the target market, specifying customers' needs, and defining what the product or service will be and do to satisfy consumers.

Correct Answer
verified
D

The type of business products known as support products includes installations, accessory equipment, supplies, and

Correct Answer
verified

Idea generation refers to

Correct Answer
verified

Commercialization is the stage in the new-product process

Correct Answer
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A __________ 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, are distributed through the same type of outlets, or fall within a given price range.

Correct Answer
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A product that disrupts consumers' normal routine but does not require totally new learning is a

Correct Answer
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Which of the following is the best example of a nondurable good?

Correct Answer
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D

X-1 uses all of the following sources to generate new-product ideas except

Correct Answer
verified

Exam 10: Developing New Products and Services

Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as

Correct AnswerverifiedShow Answer

In the early 1900s, your great-great-grandfather probably purchased his first automobile. After years of driving a horse and buggy, he got into his new car and drove it into his new garage. The new automobile was an example of

Correct AnswerverifiedShow Answer

The stage of the new-product process that exposes actual products to prospective consumers under realistic purchase conditions to see if they will buy is referred to as

Correct AnswerverifiedShow Answer

Supplies are support products that include items such as

Correct AnswerverifiedShow Answer

According to the textbook, which of the following firms is in the development stage of the new-product development process for a driverless car?

Correct AnswerverifiedShow Answer

Among business products, supplies usually consist of

Correct AnswerverifiedShow Answer

Compare continuous, dynamically continuous, and discontinuous innovations. Provide the marketing strategy and an example of each.

Which of the following is an example of a product line?

Correct AnswerverifiedShow Answer

A(n) __________ is the unique identification number that defines an item for ordering or inventory purposes.

Correct AnswerverifiedShow Answer

You decide to buy a new car. You talk to friends about it, research mechanical specifications in Consumer Reports, test-drive different makes and models, and compare prices at several dealerships. Into which classification of consumer products would your new car purchase fall?

Correct AnswerverifiedShow Answer

Identify and describe each stage in the new-product development process in the correct order.

Correct AnswerverifiedThere are seven stages in the new-produc...View AnswerShow Answer

Factors such as specifying product features, marketing strategy, and financial projections are a part of which stage of the new-product process?

Correct AnswerverifiedShow Answer

Ideally, before a new product or service is developed, a firm should have a precise __________, which is a statement defining the target market, specifying customers' needs, and defining what the product or service will be and do to satisfy consumers.

Correct AnswerverifiedD

The type of business products known as support products includes installations, accessory equipment, supplies, and

Correct AnswerverifiedShow Answer

Idea generation refers to

Correct AnswerverifiedShow Answer

Commercialization is the stage in the new-product process

Correct AnswerverifiedShow Answer

A __________ 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, are distributed through the same type of outlets, or fall within a given price range.

Correct AnswerverifiedShow Answer

A product that disrupts consumers' normal routine but does not require totally new learning is a

Correct AnswerverifiedShow Answer

Which of the following is the best example of a nondurable good?

Correct AnswerverifiedD

X-1 uses all of the following sources to generate new-product ideas except

Correct AnswerverifiedShow Answer

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There are seven stages in the new-produc...
View Answer

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D

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D

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