Question 1

Which of the following statements about product lines is most accurate?

Accepted Answer

A)  An advantage of a narrow product line is the ability to have a greater gap between price points.
B)  Product lines refer to consumer products; product mixes refer to industrial products.
C)  An advantage of broad product lines is increased likelihood of access to large retail chain distribution.
D)  A benefit of having a narrow product line is that it enables both consumers and retailers to simplify their buying decisions.
E)  A broad product line reduces R&D costs.F) None of the above
G) All of the above

Question 2

The proliferation of extra characteristics in a product that overwhelms many consumers with mind-boggling complexity is referred to as

Accepted Answer

A)  feature overkill.
B)  product line extension.
C)  feature bloat.
D)  sensory overload.
E)  product differentiation.F) C) and E)
G) B) and E)

Question 3

Philips Sonicare recently introduced the DiamondClean rechargeable toothbrush. A key innovation is its Quadpacer interval timer that goes off after 30-seconds to prompt the user to move on to the next quadrant of the mouth that results in better cleaning and improved gum health. This is an example of which type of innovation?

Accepted Answer

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

Question 4

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

Question 5

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

Question 6

Less than __________ of new consumer packaged goods (CPG)  exceed first-year sales of $50 million - the benchmark of a successful CPG launch.

Accepted Answer

A)  3 percent
B)  10 percent
C)  17 percent
D)  28 percent
E)  35 percentF) A) and B)
G) A) and C)

Question 7

The type of business products known as support products includes installations, industrial services, accessory equipment, and __________.

Accepted Answer

A)  components
B)  supplies
C)  materials
D)  derived products
E)  complementary productsF) D) and E)
G) A) and D)

Question 8

Products that are purchased by the ultimate consumer are referred to as __________.

Accepted Answer

A)  generic products
B)  end user goods
C)  personal items
D)  merchandise
E)  consumer productsF) All of the above
G) B) and C)

Question 9

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) B) and E)
G) A) and B)

Question 10

A product item refers to

Accepted Answer

A)  the variations within a product class.
B)  the entire product category or industry.
C)  a group of SKUs that are closely related.
D)  a specific product that has a unique brand, size, or price.
E)  the services offered by an organization.F) All of the above
G) A) and E)

Question 11

The brochure for Spa Sydell has photographs of people enjoying the various spa amenities. By seeing the pictures of available treatments at the spa, a customer has a better idea of what she is buying. Spa Sydell uses a brochure to help customers deal with the __________ that is associated with using the service.

Accepted Answer

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

Question 12

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 allowanceF) C) and D)
G) All of the above

Question 13

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 IDEOF) None of the above
G) A) and C)

Question 14

Idle production capacity refers to

Accepted Answer

A)  the minimum number of customers that a service provider can serve and still remain profitable.
B)  the maximum number of customers that a service provider must serve in order to remain profitable.
C)  the ability of a service provider to redirect its efforts so even when there is no primary demand, employees are still able to meet selective demand.
D)  a situation that occurs when a service provider is available but there is no demand for the service.
E)  a situation that occurs when the primary demand for a service exceeds that number of service deliverers available to meet that demand.F) A) and B)
G) A) and C)

Question 15

Explain the differences in promotion between convenience, shopping, specialty, and unsought products.

Accepted Answer

Promotion for convenience products would...

Question 16

A product mix refers to

Accepted Answer

A)  all of the different product lines offered by an organization.
B)  the variations within a product class.
C)  a specific product SKU that has a unique brand, size, or price.
D)  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, are distributed through the same types of outlets, or fall within a given price range.
E)  the entire product category or industry.F) A) and D)
G) A) and B)

Question 17

An assessment of the fit of the proposed new products, from whether it can be economically developed and manufactured to the marketing strategy needed, take place during which stage of the new-product process?

Accepted Answer

A)  business analysis
B)  screening and evaluation
C)  new-product strategy development
D)  development
E)  These activities are addressed at every stage with the exception of new-product strategy development.F) None of the above
G) B) and D) A

Question 18

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) None of the above
G) A) and B)

Question 19

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

Question 20

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

Accepted Answer

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

Exam 9: Developing New Products and Services

Which of the following statements about product lines is most accurate?

Correct Answer
verified

The proliferation of extra characteristics in a product that overwhelms many consumers with mind-boggling complexity is referred to as

Correct Answer
verified

Correct Answer
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Goods can be divided into goods and goods.

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

Less than __________ of new consumer packaged goods (CPG) exceed first-year sales of $50 million - the benchmark of a successful CPG launch.

Correct Answer
verified

The type of business products known as support products includes installations, industrial services, accessory equipment, and __________.

Correct Answer
verified

Products that are purchased by the ultimate consumer are referred to as __________.

Correct Answer
verified

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

Correct Answer
verified

A product item refers to

Correct Answer
verified

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

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

Correct Answer
verified

Idle production capacity refers to

Correct Answer
verified

Explain the differences in promotion between convenience, shopping, specialty, and unsought products.

Correct Answer
verified
Promotion for convenience products would...
View Answer

A product mix refers to

Correct Answer
verified

An assessment of the fit of the proposed new products, from whether it can be economically developed and manufactured to the marketing strategy needed, take place during which stage of the new-product process?

Correct Answer
verified
A

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

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
B

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

Correct Answer
verified

Exam 9: Developing New Products and Services

Which of the following statements about product lines is most accurate?

Correct AnswerverifiedShow Answer

The proliferation of extra characteristics in a product that overwhelms many consumers with mind-boggling complexity is referred to as

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Goods can be divided into __________ goods and __________ goods.

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

Less than __________ of new consumer packaged goods (CPG) exceed first-year sales of $50 million - the benchmark of a successful CPG launch.

Correct AnswerverifiedShow Answer

The type of business products known as support products includes installations, industrial services, accessory equipment, and __________.

Correct AnswerverifiedShow Answer

Products that are purchased by the ultimate consumer are referred to as __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A product item refers to

Correct AnswerverifiedShow Answer

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

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

Correct AnswerverifiedShow Answer

Idle production capacity refers to

Correct AnswerverifiedShow Answer

Explain the differences in promotion between convenience, shopping, specialty, and unsought products.

Correct AnswerverifiedPromotion for convenience products would...View AnswerShow Answer

A product mix refers to

Correct AnswerverifiedShow Answer

An assessment of the fit of the proposed new products, from whether it can be economically developed and manufactured to the marketing strategy needed, take place during which stage of the new-product process?

Correct AnswerverifiedA

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

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 AnswerverifiedB

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

Correct AnswerverifiedShow Answer

Correct Answer
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Goods can be divided into goods and goods.

Correct Answer
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D

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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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Promotion for convenience products would...
View Answer

Correct Answer
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Correct Answer
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A

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Correct Answer
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B

Correct Answer
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