Question 1

Which of the following methods is commonly used in software development to speed up the development process?

Accepted Answer

A)  expedited time to market
B)  fast prototyping
C)  parallel development
D)  controlled test marketing
E)  concept testingF) A) and B)
G) A) and D)

Question 2

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)  Crest toothpasteF) B) and C)
G) A) and B)

Question 3

LG Electronics Inc.has entered into an agreement with Google to offer selected models of its smartphones that use a multitouch interface installed on them rather than buttons to make calls with Google's Android operating system.This is an example of which type of innovation?

Accepted Answer

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

Question 4

Development refers to the stage of the new-product process

Accepted Answer

A)  where initial ideas are generated and discussed.
B)  that turns an idea on paper into a prototype.
C)  where product characteristics and product benefits are selected.
D)  where cross-functional team members and leaders are selected and initial tasks are assigned.
E)  where the first version of a product enters the marketplace.F) A) and B)
G) C) and D)

Question 5

In terms of promotion,which of the following type of consumer product stresses product differentiation from competitors?

Accepted Answer

A)  shopping product
B)  convenience product
C)  specialty product
D)  unsought product
E)  discretionary productF) B) and E)
G) All of the above

Question 6

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.The Love Bandit Bear is one bear it designed for people to give to each other on Valentine's Day.The Love Bandit Bear is an example of a

Accepted Answer

A)  product item.
B)  product mix.
C)  product class.
D)  product form.
E)  product line.F) B) and D)
G) D) and E)

Question 7

The stage of the new-product process that positions and launches a new product in full-scale production and sales refers to __________.

Accepted Answer

A)  marketing program execution
B)  disbursement
C)  launch
D)  commercialization
E)  final distributionF) C) and E)
G) D) and E)

Question 8

At the time of its introduction,which of the following products was the best example of a continuous innovation?

Accepted Answer

A)  the Apple iPhone
B)  the first video game system (Atari) 
C)  Sunsilk Silky Straight shampoo and conditioner with tip-targeting technology
D)  Via Voice Gold voice-recognition software
E)  Naturalpoint Trakir,which replaces the computer mouse by tracking head movements and then translating those head movements into cursor commandsF) C) and D)
G) B) and D)

Question 9

A failure fee is a penalty payment

Accepted Answer

A)  a retailer assesses a manufacturer to handle defective new products that customers returned.
B)  a wholesaler makes to a retailer as compensation for sales not made while the product was on the shelf.
C)  a retailer makes to a manufacturer for stockouts-not keeping point-of-purchase displays continuously stocked with the new product.
D)  a manufacturer makes to a wholesaler as compensation for case-lot sales not made to retailers.
E)  a manufacturer makes to compensate a retailer for devoting valuable shelf space to a product that fails to sell.F) A) and B)
G) A) and C)

Question 10

A __________ is the marketing term for a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.

Accepted Answer

A)  idea
B)  service
C)  widget
D)  utility bundle
E)  productF) None of the above
G) All of the above

Question 11

Ideally,before a new product is developed,a firm should have a precise protocol,which is a statement that identifies: (1) a well-defined target market; (2) specific customers' needs,wants,and preferences; and (3) __________.

Accepted Answer

A)  what the product will be and do to satisfy consumers
B)  a clear plan for product distribution
C)  clear financial goals and expectations
D)  an analysis of potential competitors' products
E)  a precise budget of how much can be spent for the marketing programF) A) and C)
G) A) and E)

Question 12

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 C)
G) A) and E)

Question 13

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 E)
G) A) and C)

Question 14

Many restaurants now ask consumers to evaluate their experience on a short questionnaire when they pay their bill.This assessment of consumer expectations and the actual experience they had is called a __________.

Accepted Answer

A)  gap analysis
B)  service encounter survey
C)  customer profile analysis
D)  customer contact audit
E)  service auditF) B) and D)
G) B) and C)

Question 15

Installations are support products that include items such as

Accepted Answer

A)  copy paper,mechanical pencils,and light bulbs.
B)  welding masks and computers.
C)  warehouses and automated assembly lines.
D)  lumber and engine parts.
E)  janitorial and legal services.F) A) and B)
G) C) and D)

Question 16

Intangible items such as airline trips,financial advice,or telephone calls that an organization provides to consumers are referred to as

Accepted Answer

A)  production goods.
B)  support products.
C)  services.
D)  goods.
E)  benefits.F) A) and E)
G) All of the above

Question 17

As a dimension of service quality,the caring,individualized attention provided to customers as a dimension of service quality is referred to as __________.

Accepted Answer

A)  reliability
B)  responsiveness
C)  competence
D)  assurance
E)  empathyF) B) and D)
G) All of the above

Question 18

To help consumers assess and compare services,marketers try to make them tangible or __________.

Accepted Answer

A)  temporal
B)  consistent
C)  adaptable
D)  measurable
E)  show the benefits of using the serviceF) A) and B)
G) A) and C)

Question 19

Commercialization refers to

Accepted Answer

A)  the point at which a new product has diffused throughout the marketplace.
B)  the introduction of an offering to sequential geographic areas of the U.S.
C)  exposing actual products to prospective consumers under realistic purchase conditions.
D)  the stage of the new-product process that positions and launches a new product in full-scale production and sales.
E)  the point where new-product concepts are transformed into prototypes.F) All of the above
G) A) and D)

Question 20

Equipment-based services do not have the marketing concern of inconsistency because __________ has (have) been removed from the delivery of the service.

Accepted Answer

A)  risk and product liability
B)  people
C)  learning requirements
D)  automations
E)  accessoriesF) A) and B)
G) B) and D)

Exam 9: Developing New Products and Services

The stage of the new-product process that positions and launches a new product in full-scale production and sales refers to __________.

Correct AnswerverifiedShow Answer

Development refers to the stage of the new-product process

Correct AnswerverifiedShow Answer

LG Electronics Inc.has entered into an agreement with Google to offer selected models of its smartphones that use a multitouch interface installed on them rather than buttons to make calls with Google's Android operating system.This is an example of which type of innovation?

Correct AnswerverifiedShow Answer

To help consumers assess and compare services,marketers try to make them tangible or __________.

Correct AnswerverifiedShow Answer

In terms of promotion,which of the following type of consumer product stresses product differentiation from competitors?

Correct AnswerverifiedShow Answer

Equipment-based services do not have the marketing concern of inconsistency because __________ has (have) been removed from the delivery of the service.

Correct AnswerverifiedShow Answer

A product mix refers to

Correct AnswerverifiedShow Answer

Which of the following methods is commonly used in software development to speed up the development process?

Correct AnswerverifiedShow Answer

A failure fee is a penalty payment

Correct AnswerverifiedShow Answer

Intangible items such as airline trips,financial advice,or telephone calls that an organization provides to consumers are referred to as

Correct AnswerverifiedShow Answer

Commercialization refers to

Correct AnswerverifiedShow Answer

Ideally,before a new product is developed,a firm should have a precise protocol,which is a statement that identifies: (1) a well-defined target market; (2) specific customers' needs,wants,and preferences; and (3) __________.

Correct AnswerverifiedShow Answer

The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.The Love Bandit Bear is one bear it designed for people to give to each other on Valentine's Day.The Love Bandit Bear is an example of a

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

As a dimension of service quality,the caring,individualized attention provided to customers as a dimension of service quality is referred to as __________.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Installations are support products that include items such as

Correct AnswerverifiedShow Answer

At the time of its introduction,which of the following products was the best example of a continuous innovation?

Correct AnswerverifiedShow Answer

Many restaurants now ask consumers to evaluate their experience on a short questionnaire when they pay their bill.This assessment of consumer expectations and the actual experience they had is called a __________.

Correct AnswerverifiedShow Answer

A __________ is the marketing term for a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.

Correct AnswerverifiedShow 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

Correct Answer
verified