Question 1

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

Accepted Answer

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

Question 2

Volvo's YCC opens its doors with a press of a button on the car key,will parallel park the car with a self-steering system,and has customized seat covers that can be removed and washed.Many of these new product features were added because Volvo sought ideas from

Accepted Answer

A)   seasoned mechanics.
B)   women employees.
C)   stunt and professional race car drivers.
D)   loyal Volvo customers.
E)   drivers of other luxury automobiles.F) A) and B)
G) A) and C)

Question 3

materials,such as grain or lumber as well as assemblies or parts,are referred to as

Accepted Answer

A)   production goods
B)   components
C)   accessories
D)   support products
E)   raw assembliesF) A) and E)
G) B) and C)

Question 4

are the four types of consumer products? How do they differ?

Accepted Answer

Convenience products,shopping products,s...

Question 5

general review of the marketing strategy,product assessment,economic analysis,and legal examination would all take place during which stage of the new-product process?

Accepted Answer

A)   business analysis
B)   screening and evaluation
C)   new-product strategy development
D)   development
E)   These activities are addressed at every stage with the exception of new-product strategy development.F) D) and E)
G) B) and E)

Question 6

group of product or service items 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 is referred to as a __________.

Accepted Answer

A)   product class
B)   product mix
C)   product category
D)   marketing category
E)   product lineF) A) and E)
G) A) and B)

Question 7

3M Products Photo
-relationship between a product line and product mix is

Accepted Answer

A)   product mixes include product lines.
B)   product lines include product mixes.
C)   product lines refer to consumer products; product mixes refer to industrial products.
D)   product mixes refer to consumer products; product lines refer to industrial products.
E)   there is no significant difference other than minor product variations of color, size, or form.F) A) and B)
G) A) and D)

Question 8

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

Accepted Answer

A)   Apple iPod
B)   Lexus LS 460 luxury automobile
C)   flight on American Airlines
D)   Roget's Thesaurus
E)   toothpasteF) D) and E)
G) A) and E)

Question 9

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

Accepted Answer

A major characteristic of business produ...

Question 10

decide to buy a new car.You talk to friends about it,research mechanical specifications in Consumer Reports,test drive different makes and models,and compare prices at several dealerships.Into which classification of consumer products would your new car purchase fall?

Accepted Answer

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

Question 11

new product protocol refers to

Accepted Answer

A)   the standardized procedures a firm follows for the inception, design, manufacturing, promotion, and distribution of a new product.
B)   a formalized statement of intent regarding what will be sold, to whom it will be sold, and by whom it will be sold.
C)   maintaining compliance with all licensing, manufacturing, and distribution standards established by the U.S. Federal Trade Commission (FT
C)  .
D)   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.
E)   the raw unwritten ideas to produce a single commercially successful new product.F) A) and B)
G) C) and D)

Question 12

Little Remedies Products
-Which of the following is an example of a product line?

Accepted Answer

A)   Little Remedies' gas relief drops
B)   Zephyrhills natural spring water in 8 oz. bottles
C)   The Yellow Pages for Gainesville, Florida
D)   Hallmark Mother's and Father's Day cards
E)   Apple iPhoneF) A) and C)
G) A) and E)

Question 13

3M researcher worked with university students to develop the Post-it® Flag Highlighter.His team evaluated the technical feasibility of the proposed design and determined whether the idea met the firm's new-product objectives.At which stage of the new-product process was this product?

Accepted Answer

A)   idea generation
B)   screening and evaluation
C)   business analysis
D)   new-product strategy development
E)   concept testingF) A) and B)
G) B) and C)

Question 14

product line is a group of product or service items that are closely related because they satisfy a class of needs,are used together,are sold to the same customer group,__________,or fall within a given price range.

Accepted Answer

A)   are made of similar components
B)   made from the same formulations
C)   require high levels of R&D
D)   have one SKU number
E)   are distributed through the same type of outletsF) A) and B)
G) C) and D)

Question 15

Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.For the Vermont Teddy Bear Company,Teddy bears are an example of a

Accepted Answer

A)   product class.
B)   product mix.
C)   SKU.
D)   marketing category.
E)   product line.F) B) and C)
G) A) and E)

Question 16

Marketing Dashboard Map
-product can be classified as "new" if it __________ from existing products.

Accepted Answer

A)   is functionally different
B)   is different in color
C)   is different in its packaging
D)   is different in price
E)   requires a different distribution channelF) A) and C)
G) C) and D)

Question 17

Among business products,which of the following would most likely be considered an industrial service?

Accepted Answer

A)   photocopier
B)   sheet rock
C)   photocopier maintenance Changed from Geek Squad because Geek Squad caters more to consumers.
D)   Cowboys Stadium
E)   ink cartridgesF) A) and B)
G) A) and C)

Question 18

infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer service (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)   shopping product.
B)   convenience product.
C)   specialty product.
D)   support product.
E)   unsought product.F) A) and B)
G) C) and D)

Question 19

terms of price,which of the following type of consumer product would most likely be relatively inexpensive?

Accepted Answer

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

Question 20

audiences are allowed to preview actual movies (a "sneak preview") such as Harry Potter and the Deathly Hallows-Part 2 and Star Trek so that changes might be made before they are released to the general public,during which stage of the new-product process does this occur?

Accepted Answer

A)   market testing
B)   business analysis
C)   commercialization
D)   screening and evaluation
E)   concept testingF) A) and B)
G) A) and C)

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

product line is a group of product or service items that are closely related because they satisfy a class of needs,are used together,are sold to the same customer group,__________,or fall within a given price range.

Correct AnswerverifiedShow Answer

3M researcher worked with university students to develop the Post-it® Flag Highlighter.His team evaluated the technical feasibility of the proposed design and determined whether the idea met the firm's new-product objectives.At which stage of the new-product process was this product?

Correct AnswerverifiedShow Answer

Volvo's YCC opens its doors with a press of a button on the car key,will parallel park the car with a self-steering system,and has customized seat covers that can be removed and washed.Many of these new product features were added because Volvo sought ideas from

Correct AnswerverifiedShow Answer

audiences are allowed to preview actual movies (a "sneak preview") such as Harry Potter and the Deathly Hallows-Part 2 and Star Trek so that changes might be made before they are released to the general public,during which stage of the new-product process does this occur?

Correct AnswerverifiedShow Answer

general review of the marketing strategy,product assessment,economic analysis,and legal examination would all take place during which stage of the new-product process?

Correct AnswerverifiedShow Answer

Little Remedies Products -Which of the following is an example of a product line?

Correct AnswerverifiedShow Answer

group of product or service items 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 is referred to as a __________.

Correct AnswerverifiedShow Answer

Marketing Dashboard Map -product can be classified as "new" if it __________ from existing products.

Correct AnswerverifiedShow Answer

Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable.For the Vermont Teddy Bear Company,Teddy bears are an example of a

Correct AnswerverifiedShow Answer

3M Products Photo -relationship between a product line and product mix is

Correct AnswerverifiedShow Answer

terms of price,which of the following type of consumer product would most likely be relatively inexpensive?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Among business products,which of the following would most likely be considered an industrial service?

Correct AnswerverifiedShow Answer

new product protocol refers to

Correct AnswerverifiedShow Answer

decide to buy a new car.You talk to friends about it,research mechanical specifications in Consumer Reports,test drive different makes and models,and compare prices at several dealerships.Into which classification of consumer products would your new car purchase fall?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

materials,such as grain or lumber as well as assemblies or parts,are referred to as

Correct AnswerverifiedShow Answer

infrequent purchases with some comparison shopping are characteristic of the purchasing behavior for a type of consumer service (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

are the four types of consumer products? How do they differ?

Correct AnswerverifiedConvenience products,shopping products,s...View AnswerShow Answer

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

Correct Answer
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3M researcher worked with university students to develop the Post-it^® Flag Highlighter.His team evaluated the technical feasibility of the proposed design and determined whether the idea met the firm's new-product objectives.At which stage of the new-product process was this product?

Correct Answer
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Convenience products,shopping products,s...
View Answer