Question 1

Which of the products listed below would be the best candidate for full-scale market testing?

Accepted Answer

A)  totally free checking account from Bank One
B)  household frequent flyer program from Delta Airlines
C)  mid-priced luxury sedan made in America by Mazda
D)  new iced coffee beverage from Snapple
E)  low-cost Mac computerF) A) and B)
G) All of the above

Question 2

With respect to price and availability, shopping products are likely to be

Accepted Answer

A)  relatively inexpensive and widely available.
B)  relatively inexpensive but very limited availability.
C)  fairly expensive, available at a large number of selective outlets.
D)  very expensive, very limited availability.
E)  very expensive, available at a large number of selective outlets.F) C) and D)
G) A) and E)

Question 3

With respect to price, which of the following types of consumer products would most likely be fairly expensive?

Accepted Answer

A)  Convenience products.
B)  Shopping product.
C)  Specialty products.
D)  Unsought products.
E)  Production goods.F) C) and E)
G) C) and D)

Question 4

Commercialization is the stage in the new-product processes

Accepted Answer

A)  that positions and launched a new product in full-scale production and sales.
B)  during which the firm performs its final evaluations of the new-product.
C)  when sales forecasts are compared to actual first year sales figures.
D)  when advertising campaigns are launched and released to the general public to create brand awareness.
E)  at which the product receives the greatest revenue per unit since people are curious and willing to purchase a "new" product at a higher price.F) C) and D)
G) All of the above

Question 5

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

Accepted Answer

A)  Components
B)  Complementary parts
C)  Support products
D)  Production elements
E)  Essential materialsF) A) and B)
G) B) and C)

Question 6

The Apple II, Macintosh, MacBook Air, iPhone 3GS, iPod, and the iPad are all examples of a company's commitment to __________.

Accepted Answer

A)  outselling their competitors
B)  social responsibility
C)  continuous innovation
D)  using renewable resources
E)  respecting their workforceF) None of the above
G) A) and E)

Question 7

Installations, accessory equipment, supplies, and industrial services are referred to as __________.

Accepted Answer

A)  components
B)  complementary parts
C)  essential materials
D)  production elements
E)  support productsF) B) and E)
G) A) and D)

Question 8

Lufthansa and Singapore Airlines ads show travelers in the airlines' new seats and also emphasize broadband Internet connections and other benefits to overcome the __________ of their services.

Accepted Answer

A)  inseparability
B)  inconsistency
C)  intangibility
D)  incongruity
E)  inaptnessF) D) and E)
G) C) and D)

Question 9

Inconsistency in services refers to the fact that

Accepted Answer

A)  there is no regulation of service industries in terms of basic standards of quality.
B)  the quality of service provided by a firm is often inconsistent with its image.
C)  the performance of one employee may vary from the performance of another employee even though the same firm employs both.
D)  training and standardization of service delivery procedures cannot be accomplished.
E)  services have a varying degree of durability.F) A) and E)
G) C) and E)

Question 10

Ideally, before a new product is developed, a firm should have a precise protocol, a statement that identifies (1)  what the product will be and can do; (2)  a well-defined target market; and (3)

Accepted Answer

A)  a clear plan for product distribution.
B)  an analysis of potential competitive products.
C)  a precise budget of how much can be spent at each step of the process.
D)  specific customers' needs, wants, and preferences.
E)  clear financial goals and expectations.F) A) and E)
G) B) and D)

Question 11

A product is a good, service, or idea consisting of a _________ that satisfies consumers' needs and is received in exchange for money or something else of value.

Accepted Answer

A)  promise or commitment from the seller
B)  bundle of tangible and intangible attributes
C)  bundle of tangible attributes
D)  bundle of intangible attributes
E)  component partsF) C) and E)
G) A) and B)

Question 12

A product that establishes new consumption patterns among consumers is a

Accepted Answer

A)  continuous innovation.
B)  discontinuous innovation.
C)  dynamically continuous innovation.
D)  symbiotic innovation.
E)  simultaneous innovation.F) None of the above
G) D) and E)

Question 13

The emphasis of a marketing strategy for a continuous innovation concentrates on

Accepted Answer

A)  advertising to generate awareness.
B)  obtaining widespread distribution.
C)  advertising to explain product benefits and proper use.
D)  setting the price low.
E)  advertising to remind consumers.F) C) and D)
G) B) and E)

Question 14

What is idea generation? From where can (and do) forward thinking marketers get their ideas?

Accepted Answer

The second stage in the new-product proc...

Question 15

Briefly define what is meant by a product.Explain the characteristics that would define a good and a service.Give an example of each.

Accepted Answer

A product is a good, service, or idea co...

Question 16

Services can be classified in several ways, according to whether they are profit or nonprofit, whether they are government sponsored, and

Accepted Answer

A)  whether they are delivered by people or equipment.
B)  their organizational culture.
C)  their use of internal marketing.
D)  whether they are environmentally involved.
E)  whether they are owned by individuals or corporations.F) C) and E)
G) B) and E)

Question 17

According to Figure 10-1 above, column "D" would represent what type of product?

Accepted Answer

A)  shopping
B)  convenience
C)  specialty
D)  prestige
E)  unsoughtF) A) and E)
G) B) and D)

Question 18

Products that are purchased by ultimate consumers are referred to as __________.

Accepted Answer

A)  generic goods
B)  shopping goods
C)  personal items
D)  commercial items
E)  consumer productsF) A) and D)
G) B) and E)

Question 19

The division of products into durable and nondurable goods is to __________.

Accepted Answer

A)  comply with governmental guidelines
B)  address issues of environmental concern
C)  clarify classification in IS09000
D)  classify products for tax purposes
E)  provide direction for marketing actionsF) D) and E)
G) None of the above

Question 20

The process of managing the entire customer experience within the firm is referred to as

Accepted Answer

A)  customer product management (CPM) .
B)  customer experience management (CEM) .
C)  management of customer relations (MCR) .
D)  manufacturer and customer relationships (MCR) .
E)  continuous product management (CPM) .F) All of the above
G) A) and E)

Exam 10: Developing New Products and Services

The process of managing the entire customer experience within the firm is referred to as

Correct AnswerverifiedShow Answer

Products that are purchased by ultimate consumers are referred to as __________.

Correct AnswerverifiedShow Answer

The Apple II, Macintosh, MacBook Air, iPhone 3GS, iPod, and the iPad are all examples of a company's commitment to __________.

Correct AnswerverifiedShow Answer

A product that establishes new consumption patterns among consumers is a

Correct AnswerverifiedShow Answer

Which of the products listed below would be the best candidate for full-scale market testing?

Correct AnswerverifiedShow Answer

According to Figure 10-1 above, column "D" would represent what type of product?

Correct AnswerverifiedShow Answer

Briefly define what is meant by a product.Explain the characteristics that would define a good and a service.Give an example of each.

Correct AnswerverifiedA product is a good, service, or idea co...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

With respect to price and availability, shopping products are likely to be

Correct AnswerverifiedShow Answer

Lufthansa and Singapore Airlines ads show travelers in the airlines' new seats and also emphasize broadband Internet connections and other benefits to overcome the __________ of their services.

Correct AnswerverifiedShow Answer

Ideally, before a new product is developed, a firm should have a precise protocol, a statement that identifies (1) what the product will be and can do; (2) a well-defined target market; and (3)

Correct AnswerverifiedShow Answer

Commercialization is the stage in the new-product processes

Correct AnswerverifiedShow Answer

Installations, accessory equipment, supplies, and industrial services are referred to as __________.

Correct AnswerverifiedShow Answer

The emphasis of a marketing strategy for a continuous innovation concentrates on

Correct AnswerverifiedShow Answer

Inconsistency in services refers to the fact that

Correct AnswerverifiedShow Answer

The division of products into durable and nondurable goods is to __________.

Correct AnswerverifiedShow Answer

What is idea generation? From where can (and do) forward thinking marketers get their ideas?

Correct AnswerverifiedThe second stage in the new-product proc...View AnswerShow Answer

With respect to price, which of the following types of consumer products would most likely be fairly expensive?

Correct AnswerverifiedShow Answer

Services can be classified in several ways, according to whether they are profit or nonprofit, whether they are government sponsored, and

Correct AnswerverifiedShow Answer

A product is a good, service, or idea consisting of a _________ that satisfies consumers' needs and is received in exchange for money or something else of value.

Correct AnswerverifiedShow Answer

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A product is a good, service, or idea co...
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The second stage in the new-product proc...
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