Question 1

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as burial insurance) that a prospective buyer may not initially want.This type of consumer service is referred to as a(n)

Accepted Answer

A)  unsought product/service.
B)  shopping product/service.
C)  convenience product/service.
D)  specialty product/service.
E)  support product/service.F) B) and E)
G) C) and D)

Question 2

Idea generation refers to

Accepted Answer

A)  the stage of the new-product process when concepts are converted to prototypes.
B)  the stage of the new-product process that develops a pool of concepts to serve as candidates for new-products.
C)  the stage of the new-product 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 as target market segments will be selected.F) B) and E)
G) B) and C)

Question 3

Feature bloat is

Accepted Answer

A)  an exaggeration of a product's performance capabilities.
B)  the overcharging in price for a minor product enhancement.
C)  the requirement of having consumers learn new behaviors with a continuous innovation.
D)  an excessive number of product attributes that overwhelms consumers with unnecessary complexity.
E)  the increase in package size when adding more content or making it larger (the "mega" phenomenon) .F) A) and D)
G) C) and E)

Question 4

Detailed financial projections and assessments of marketing and product synergies are a part of which stage of the new-product process?

Accepted Answer

A)  idea generation
B)  market testing
C)  business analysis
D)  development
E)  commercializationF) B) and E)
G) D) and E)

Question 5

According to Figure 10-2 above,column "B" represents a(n)

Accepted Answer

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

Question 6

If a new grocery product does not achieve a predetermined sales target,some retailers require a penalty payment by the manufacturer to compensate them for sales that its valuable shelf space was unable to generate.What is this type of payment called?

Accepted Answer

A)  an opportunity cost charge
B)  lost sales fee
C)  shelf space allowance
D)  product displacement fee
E)  a failure feeF) A) and D)
G) All of the above

Question 7

Consumer product classifications differ in terms of the: (1) effort the consumer spends on the decision; (2) frequency of purchase;and (3)

Accepted Answer

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

Question 8

Explain the difference between consumer products and business products.Why are some products difficult to categorize as one or the other? Give an example of a business product,a consumer product,and a product that is difficult to categorize.

Accepted Answer

Consumer products are products purchased...

Question 9

An extremely large machine for producing sheet metal from steel ingots would be classified as which kind of business products?

Accepted Answer

A)  installations
B)  finished goods
C)  supplies
D)  industrial services
E)  raw materialsF) B) and E)
G) A) and C)

Question 10

Specialty products refer to

Accepted Answer

A)  products for which there are no close substitutes.
B)  products purchased for their prestige or high perceived value.
C)  products a consumer will make a specific effort to search out and buy.
D)  items for which the consumer compares several alternatives on several criteria such as price,quality,or style.
E)  items that the consumer does not know about or knows about but does not initially buy.F) All of the above
G) None of the above

Question 11

A statement that identifies: (1) a well-defined target market; (2) specific customers' needs,wants,and preferences;and (3) 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) A) and C)
G) D) and E)

Question 12

The most expensive stage in the new-product process for most products and services is

Accepted Answer

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

Question 13

Convenience products refer to

Accepted Answer

A)  items that consumers will make special efforts to seek out and buy.
B)  items for which consumers compare several alternatives on criteria such as price,quality,or style.
C)  products consumers purchase frequently and with a minimum of shopping effort.
D)  ancillary products used to make other products work more efficiently.
E)  low-cost items for which there are numerous substitutes and generic equivalents.F) C) and D)
G) C) and E)

Question 14

Vivienne,a college student with limited financial resources,was considering the purchase of a new automobile.She went from car dealer to car dealer in several different cities searching for the lowest price on a new economy car.She devoted a great deal of time and energy to getting the best value for her money.For Vivienne,an automobile was a(n) __________.

Accepted Answer

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

Question 15

Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision?

Accepted Answer

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

Question 16

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

Question 17

Because of the time,cost,and confidentiality problems of test markets,consumer packaged goods firms often turn to __________,a technique that replicates a full-scale test market to a limited degree.

Accepted Answer

A)  partial rollouts
B)  screening and evaluation
C)  virtual reality testing
D)  time-to-market measures
E)  simulated test marketsF) A) and B)
G) A) and E)

Question 18

Which of the following is MOST LIKELY to be an example of an unsought product?

Accepted Answer

A)  snow shovel
B)  smartphone
C)  gym membership
D)  calculator
E)  burial insuranceF) B) and C)
G) C) and D)

Question 19

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

Accepted Answer

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

Question 20

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

Accepted Answer

A major characteristic of business produ...

Exam 10: Developing New Products and Services

Consumer product classifications differ in terms of the: (1) effort the consumer spends on the decision; (2) frequency of purchase;and (3)

Correct Answer
verified

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

Correct Answer
verified

A statement that identifies: (1) a well-defined target market; (2) specific customers' needs,wants,and preferences;and (3) what the product will be and do to satisfy consumers is referred to as a new product's or service's

Correct Answer
verified

Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision?

Correct Answer
verified

Detailed financial projections and assessments of marketing and product synergies are a part of which stage of the new-product process?

Correct Answer
verified

An extremely large machine for producing sheet metal from steel ingots would be classified as which kind of business products?

Correct Answer
verified

Feature bloat is

Correct Answer
verified

Because of the time,cost,and confidentiality problems of test markets,consumer packaged goods firms often turn to __________,a technique that replicates a full-scale test market to a limited degree.

Correct Answer
verified

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as burial insurance) that a prospective buyer may not initially want.This type of consumer service is referred to as a(n)

Correct Answer
verified

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

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

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

Correct Answer
verified

Explain the difference between consumer products and business products.Why are some products difficult to categorize as one or the other? Give an example of a business product,a consumer product,and a product that is difficult to categorize.

Correct Answer
verified
Consumer products are products purchased...
View Answer

Convenience products refer to

Correct Answer
verified

Which of the following is MOST LIKELY to be an example of an unsought product?

Correct Answer
verified

The most expensive stage in the new-product process for most products and services is

Correct Answer
verified

Correct Answer
verified

Idea generation refers to

Correct Answer
verified

Specialty products refer to

Correct Answer
verified

If a new grocery product does not achieve a predetermined sales target,some retailers require a penalty payment by the manufacturer to compensate them for sales that its valuable shelf space was unable to generate.What is this type of payment called?

Correct Answer
verified

According to Figure 10-2 above,column "B" represents a(n)

Correct Answer
verified

Exam 10: Developing New Products and Services

Consumer product classifications differ in terms of the: (1) effort the consumer spends on the decision; (2) frequency of purchase;and (3)

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

A statement that identifies: (1) a well-defined target market; (2) specific customers' needs,wants,and preferences;and (3) what the product will be and do to satisfy consumers is referred to as a new product's or service's

Correct AnswerverifiedShow Answer

Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision?

Correct AnswerverifiedShow Answer

Detailed financial projections and assessments of marketing and product synergies are a part of which stage of the new-product process?

Correct AnswerverifiedShow Answer

An extremely large machine for producing sheet metal from steel ingots would be classified as which kind of business products?

Correct AnswerverifiedShow Answer

Feature bloat is

Correct AnswerverifiedShow Answer

Because of the time,cost,and confidentiality problems of test markets,consumer packaged goods firms often turn to __________,a technique that replicates a full-scale test market to a limited degree.

Correct AnswerverifiedShow Answer

Very infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer product (such as burial insurance) that a prospective buyer may not initially want.This type of consumer service is referred to as a(n)

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

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

Correct AnswerverifiedShow Answer

Explain the difference between consumer products and business products.Why are some products difficult to categorize as one or the other? Give an example of a business product,a consumer product,and a product that is difficult to categorize.

Correct AnswerverifiedConsumer products are products purchased...View AnswerShow Answer

Convenience products refer to

Correct AnswerverifiedShow Answer

Which of the following is MOST LIKELY to be an example of an unsought product?

Correct AnswerverifiedShow Answer

The most expensive stage in the new-product process for most products and services is

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Idea generation refers to

Correct AnswerverifiedShow Answer

Specialty products refer to

Correct AnswerverifiedShow Answer

If a new grocery product does not achieve a predetermined sales target,some retailers require a penalty payment by the manufacturer to compensate them for sales that its valuable shelf space was unable to generate.What is this type of payment called?

Correct AnswerverifiedShow Answer

According to Figure 10-2 above,column "B" represents a(n)

Correct AnswerverifiedShow Answer

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

Correct Answer
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Correct Answer
verified
Consumer products are products purchased...
View Answer

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Correct Answer
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Correct Answer
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