Question 1

The Federal Trade Commission (FTC) advises that a product 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) B) and C)
G) B) and D)

Question 2

A concept test is an

Accepted Answer

A)  internal evaluation among members of the entire cross-functional new-product development team that consists of preliminary testing of a new-product idea rather than the actual product.
B)  external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual finished product.
C)  internal evaluation that consists of preliminary testing of a new-product idea using a mock-up or prototype of the new item.
D)  in-house computer simulation of the new product that closely resembles the actual product to forecast sales.
E)  in-depth questionnaire filled out both by internal marketing personnel and external customers to ensure that the final product meets all the needs expressed in the original product plan.F) All of the above
G) A) and B)

Question 3

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) None of the above
G) All of the above

Question 4

Define derived demand and provide an example not included in the text.

Accepted Answer

A major characteristic of business produ...

Question 5

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 products.F) B) and E)
G) A) and E)

Question 6

One of the eight primary marketing-related reasons for new-product failure is

Accepted Answer

A)  not listening to the voice of the engineer.
B)  poor execution of the marketing mix.
C)  too much advertising or too aggressive a tone for it.
D)  failure to anticipate competitors' actions.
E)  insufficient funding for rollout.F) All of the above
G) A) and C)

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 lear...

Question 8

Figure 10-1
 
-According to Figure 10-1 above,column B would represent which type of product?

Accepted Answer

A)  shopping products
B)  convenience products
C)  specialty products
D)  prestige products
E)  unsought productsF) A) and B)
G) None of the above

Question 9

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) A) and E)
G) A) and D)

Question 10

________ are items that become part of the final business product.

Accepted Answer

A)  Components
B)  Accessories
C)  Support products
D)  Production goods
E)  Raw assembliesF) A) and B)
G) A) and C)

Question 11

Commercialization is the stage in the new-product development 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) A) and D)
G) All of the above

Question 12

Which of the following is the best example of a convenience product?

Accepted Answer

A)  Kindle Fire
B)  Lexus LS 460 luxury automobile
C)  flight on United Airlines
D)  Roget's Thesaurus
E)  Hidden Valley Ranch salad dressingF) A) and B)
G) A) and C)

Question 13

Figure 10-1
 
-According to Figure 10-1 above,column C would represent which type of product?

Accepted Answer

A)  shopping products
B)  convenience products
C)  specialty products
D)  prestige products
E)  unsought productsF) B) and E)
G) B) and D)

Question 14

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

Accepted Answer

A)  lawn mower
B)  tablet computer
C)  football
D)  energy drink
E)  picture frameF) A) and E)
G) C) and D)

Question 15

Figure 10-1
 
-In terms of promotion,which of the following product types would stress price,availability,and awareness?

Accepted Answer

A)  shopping
B)  convenience
C)  specialty
D)  unsought
E)  supplyF) A) and B)
G) A) and C)

Question 16

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

Accepted Answer

A)  iPod MP3 player
B)  5-hour Energy shot
C)  flight on American Airlines to Phoenix
D)  Roget's Thesaurus
E)  Ivory soapF) C) and E)
G) A) and E)

Question 17

Parallel development is the simultaneous development of both

Accepted Answer

A)  the product and promotion strategies.
B)  production and financing tactics.
C)  the product and the production process.
D)  production and selling methodologies.
E)  R&D and financial analysis.F) A) and D)
G) All of the above

Question 18

A prototype is a

Accepted Answer

A)  miniature version of an actual new product used in concept testing to identify any changes that need to be made prior to its commercialization.
B)  full-scale operating model of the product or service under development.
C)  sample of a new product given to prospective customers and opinion leaders used to generate awareness prior to the product's commercial release.
D)  simulated operating model of the product given to consumers to use in full-scale field testing.
E)  digital version of a product produced in multiple shapes,colors,and sizes to determine which version of the product customers like best.F) B) and C)
G) C) and E)

Question 19

Figure 10-1
 
-Distribution is very limited and brand status is stressed in promoting which of the following consumer product types?

Accepted Answer

A)  shopping product
B)  convenience product
C)  discretionary product
D)  prepurchase product
E)  specialty productF) B) and E)
G) None of the above

Question 20

Idea generation is the stage in the new-product development process that

Accepted Answer

A)  develops a pool of concepts to serve as candidates for new products.
B)  selects a single concept and scrutinizes it for all potential benefits and flaws.
C)  separates ideas into two categories: consumer-oriented and organization-oriented.
D)  requires the organization to perform a SWOT analysis and an environmental scan.
E)  consists of the techniques used to screen and reject those ideas that have no merit.F) A) and B)
G) B) and C)

Exam 10: Developing New Products and Services

The Federal Trade Commission (FTC) advises that a product should be labeled as new only

Correct AnswerverifiedShow Answer

Figure 10-1 -Distribution is very limited and brand status is stressed in promoting which of the following consumer product types?

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

Define derived demand and provide an example not included in the text.

Correct AnswerverifiedA major characteristic of business produ...View AnswerShow Answer

Commercialization is the stage in the new-product development process

Correct AnswerverifiedShow Answer

Parallel development is the simultaneous development of both

Correct AnswerverifiedShow Answer

Figure 10-1 -According to Figure 10-1 above,column B would represent which type of product?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Figure 10-1 -According to Figure 10-1 above,column C would represent which type of product?

Correct AnswerverifiedShow Answer

A prototype is a

Correct AnswerverifiedShow Answer

A concept test is an

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

________ are items that become part of the final business product.

Correct AnswerverifiedShow Answer

Figure 10-1 -In terms of promotion,which of the following product types would stress price,availability,and awareness?

Correct AnswerverifiedShow Answer

One of the eight primary marketing-related reasons for new-product failure is

Correct AnswerverifiedShow Answer

Which of the following is the best example of a convenience product?

Correct AnswerverifiedShow Answer

Open innovation is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedWith a continuous innovation,no new lear...View AnswerShow Answer

Idea generation is the stage in the new-product development process that

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified
A major characteristic of business produ...
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

Correct Answer
verified
With a continuous innovation,no new lear...
View Answer

Correct Answer
verified