Question 1

All of these actions occur during the business analysis stage of the new-product development process except which?

Accepted Answer

A)   determining the equipment or technology necessary to produce the new product
B)   assessing the marketing and product synergies related to the company's existing operations
C)   turning the idea on paper into a prototype
D)   determining whether the new product can be protected with a patent or copyright
E)   assessing whether the proposed new product fits with the company's mission and objectivesF) B) and C)
G) C) and E)

Question 2

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

Accepted Answer

A)   obtaining exclusive distribution.
B)   setting a low price.
C)   generating awareness.
D)   using reminder advertising to reeducate consumers.
E)   using personal selling.F) A) and B)
G) A) and C)

Question 3

Items for which the consumer compares several alternatives on several criteria such as price, quality, or style are ________ products.

Accepted Answer

A)   specialty
B)   selective
C)   shopping
D)   prestige
E)   convenienceF) D) and E)
G) B) and E)

Question 4

Services are

Accepted Answer

A)   philanthropic activities performed without expectations of monetary remuneration.
B)   the activities provided to complement a tangible good, such as technical support for a computer.
C)   the intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
D)   any activity required for the production of a good that cannot be completed "in-house" and must be outsourced to another firm.
E)   the human (nonmechanical)  component that is part of the manufacturing process.F) D) and E)
G) A) and E)

Question 5

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

Accepted Answer

A major characteristic of business produ...

Question 6

During the business analysis stage of the new-product development process, GoPro considers the likelihood of ________, especially when introducing new, less expensive products like Hero Session that may hurt existing product sales.

Accepted Answer

A)   protocols
B)   foreign investment
C)   corruption
D)   cannibalization
E)   market testingF) C) and E)
G) A) and B)

Question 7

A product class is

Accepted Answer

A)   the NAICS designation of an individual product or brand.
B)   the designation of an individual product based upon its form.
C)   a variation of a product within a product mix.
D)   the designation of a product based on whether it is a consumer product or business product.
E)   the industry a set of offerings belongs to.F) D) and E)
G) A) and E)

Question 8

Which of the following is expected to be the next chapter for Apple's product development?

Accepted Answer

A)   Apple Fridge
B)   iCar
C)   iToothbrush
D)   iFlashlight
E)   Apple SurfboardF) A) and E)
G) A) and B)

Question 9

Services can be classified by

Accepted Answer

A)   their method of delivery.
B)   their use of idle capacity time.
C)   the nature of their ownership.
D)   their location on perceptual maps.
E)   organizational reach.F) D) and E)
G) A) and B)

Question 10

The stage of the new-product development process that positions and launches a new product in full-scale production and sales is

Accepted Answer

A)   marketing program execution.
B)   disbursement.
C)   launch.
D)   commercialization.
E)   final distribution.F) A) and C)
G) C) and D)

Question 11

A product line refers to

Accepted Answer

A)   a product and all its ancillary services (warranties, financing, etc.) .
B)   the variations within a product class.
C)   a specific product SKU that has a unique brand, size, or price.
D)   a group of product or service items that are closely related in terms of needs satisfied, uses, customer group, outlets, or price range.
E)   the entire product category or industry.F) A) and E)
G) All of the above

Question 12

Market testing is the stage of the new-product development process that involves

Accepted Answer

A)   exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy.
B)   making sales and profit projections on prototype products to make go-no-go decisions.
C)   conducting marketing research among a sample of consumers in the target market to determine which version of a new-product concept is deemed the best.
D)   independently run comparison tests with similar products currently in the marketplace to determine which one performs best.
E)   conducting safety tests to determine whether the new product meets the established requirements when it isn't used as planned.F) A) and E)
G) A) and B)

Question 13

Variations of a product (shape, configuration)  within a product class are referred to as the

Accepted Answer

A)   product form.
B)   product item.
C)   product line.
D)   product class.
E)   product mix.F) A) and B)
G) None of the above

Question 14

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) C) and D)
G) B) and E)

Question 15

Which of these is considered a durable good?

Accepted Answer

A)   necklace
B)   scone
C)   movie tickets
D)   staples
E)   votingF) D) and E)
G) B) and E)

Question 16

Legal counsel advising a firm's R&D department on a patent application would most likely be classified as which type of support product?

Accepted Answer

A)   ancillary services
B)   contractual services
C)   specialty services
D)   accessory services
E)   industrial servicesF) B) and D)
G) All of the above

Question 17

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is

Accepted Answer

A)   a utility bundle.
B)   a product.
C)   an exchange.
D)   an artifact.
E)   merchandise.F) A) and E)
G) B) and C)

Question 18

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) C) and E)

Question 19

Sometimes a firm's Stage 1 product development activities can be interrupted by a revolutionary new product or technology that completely disrupts its business, known as a

Accepted Answer

A)   marketing opportunity.
B)   disruptive innovation.
C)   business threat.
D)   crowdsourcing outcome.
E)   concept test.F) All of the above
G) A) and D)

Question 20

Marketers of durable goods should emphasize which of these elements of the promotional mix?

Accepted Answer

A)   sales promotion
B)   personal selling
C)   advertising
D)   public relations
E)   direct marketingF) A) and D)
G) A) and E)

Exam 10: Developing New Products and Services

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

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

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

Correct AnswerverifiedShow Answer

Services can be classified by

Correct AnswerverifiedShow Answer

A product mix refers to

Correct AnswerverifiedShow Answer

Market testing is the stage of the new-product development process that involves

Correct AnswerverifiedShow Answer

A good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value is

Correct AnswerverifiedShow Answer

Variations of a product (shape, configuration) within a product class are referred to as the

Correct AnswerverifiedShow Answer

The stage of the new-product development process that positions and launches a new product in full-scale production and sales is

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Legal counsel advising a firm's R&D department on a patent application would most likely be classified as which type of support product?

Correct AnswerverifiedShow Answer

A product class is

Correct AnswerverifiedShow Answer

Items for which the consumer compares several alternatives on several criteria such as price, quality, or style are ________ products.

Correct AnswerverifiedShow Answer

During the business analysis stage of the new-product development process, GoPro considers the likelihood of ________, especially when introducing new, less expensive products like Hero Session that may hurt existing product sales.

Correct AnswerverifiedShow Answer

Services are

Correct AnswerverifiedShow Answer

Marketers of durable goods should emphasize which of these elements of the promotional mix?

Correct AnswerverifiedShow Answer

Which of these is considered a durable good?

Correct AnswerverifiedShow Answer

A product line refers to

Correct AnswerverifiedShow Answer

Which of the following is expected to be the next chapter for Apple's product development?

Correct AnswerverifiedShow Answer

Sometimes a firm's Stage 1 product development activities can be interrupted by a revolutionary new product or technology that completely disrupts its business, known as a

Correct AnswerverifiedShow Answer

All of these actions occur during the business analysis stage of the new-product development process except which?

Correct AnswerverifiedShow Answer

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

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified