Question 1

How can companies use social media when developing new products?

Accepted Answer

The answer of How can companies use social media when...

Question 2

In terms of brand loyalty, consumers are aware of a brand but will readily accept substitutes. This is characteristic of:

Accepted Answer

A)  specialty goods.
B)  convenience goods.
C)  unsought goods.
D)  shopping goods.

Question 3

Services-marketing experts generally agree that there is a hierarchy of new-service categories that is somewhat similar to the continuous, dynamically continuous, and discontinuous innovation continuum for physical products. Many Canadian banks now offer their customers insurance offerings would be example of:

Accepted Answer

A)  process-line extensions
B)  service-line extensions
C)  major service innovations
D)  style changes

Question 4

When the University of Guelph decided to offer a totally online MBA program where you never have to visit campus to complete your degree, this would be classified as what type of service innovation?

Accepted Answer

A)  major service innovation
B)  service-line extensions
C)  major process innovation
D)  basic service improvements

Question 5

Cat food is to a nondurable good, as_________ is to a durable good.

Accepted Answer

A)  toothpaste
B)  vehicle
C)  life insurance
D)  financial service (i.e. mortgage)

Question 6

Support goods include all of the following EXCEPT:

Accepted Answer

A)  supplies.
B)  accessory equipment.
C)  services.
D)  raw materials.

Question 7

All of the following are protocol criteria for new-product development, except:

Accepted Answer

A)  a well-priced product
B)  specific customers' needs, wants, and preferences
C)  what the product will be and do
D)  a well-defined target market

Question 8

Which of the following best illustrates the concept of derived demand as explained in the text?

Accepted Answer

A)  The number of retail stores in a downtown area decreases and demand for retail goods increases.
B)  The heat wave results in an increased demand for air conditioners.
C)  An increase in the number of new single family homes results from a spurt in the gross national product.
D)  Jet engine manufacturers experience increased sales because more tourists are taking international vacations.

Question 9

Within each product line, a specific product as noted by a unique brand, size, or price is referred to as the _________.

Accepted Answer

A)  universal product code
B)  order quantity code
C)  stock-keeping unit
D)  product item

Question 10

A young musician goes on tour to promote his new album. The concerts are a huge success, but due to a problem in distribution, the musician's CDs do not arrive in the music stores until six weeks after the tour. Why did CDs sales fall far short of plans?

Accepted Answer

A)  poor execution of the marketing mix
B)  insignificant point of difference
C)  poor product quality
D)  too little market attractiveness

Question 11

Which of the following products was the best example of a continuous innovation when introduced?

Accepted Answer

A)  The PalmPilot personal assistant
B)  ViaVoice Gold voice recognition software
C)  Breathe Right nasal strips
D)  Atari video game system

Question 12

An external evaluation that consists of preliminary testing of a new-product idea (rather than the actual product) with consumers is called:

Accepted Answer

A)  a concept test.
B)  idea generation.
C)  alternative evaluation.
D)  new-product strategy development.

Question 13

The addition of Sparkling Apple-Scented, Invigorating Breeze-Scented, and Summer Citrus-Scented versions of Mr. Clean antibacterial cleaning liquid is an example of:

Accepted Answer

A)  phased innovation.
B)  gradual innovation.
C)  continuous innovation.
D)  discontinuous innovation.

Question 14

What is a new product?

Accepted Answer

The answer of What is a new product?...

Question 15

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

Accepted Answer

A)  unsought goods
B)  specialty goods
C)  shopping goods
D)  convenience goods

Question 16

Burberry makes fine raincoats, clothing, and other items, many featuring the company's distinctive plaids. Originally found only in Great Britain, Burberry has opened exclusive shops in leading cities around the world to reach customers who value its name and quality. Burberry is selling in which classification of consumer goods?

Accepted Answer

A)  unsought goods
B)  convenience goods
C)  shopping goods
D)  specialty goods

Question 17

Use of a tool such as 'Six Sigma' would most commonly be found in which stage of the new-product process?

Accepted Answer

A)  distinctive competency
B)  idea generation
C)  new-product strategy development
D)  business mission

Question 18

Which of the following would most likely be considered a consumer good?

Accepted Answer

A)  back hoe
B)  suitcase
C)  ball bearings
D)  printing press

Question 19

Distribution is most limited with which of the following types of consumer goods?

Accepted Answer

A)  specialty goods
B)  convenience goods
C)  unsought goods
D)  shopping goods

Question 20

Perceptual maps and product positioning diagrams are most likely used in which new-product stage?

Accepted Answer

A)  competitive assessment
B)  business analysis
C)  product development
D)  commercialization

Exam 10: Developing New Products and Services

Perceptual maps and product positioning diagrams are most likely used in which new-product stage?

Correct Answer
verified

A young musician goes on tour to promote his new album. The concerts are a huge success, but due to a problem in distribution, the musician's CDs do not arrive in the music stores until six weeks after the tour. Why did CDs sales fall far short of plans?

Correct Answer
verified

Distribution is most limited with which of the following types of consumer goods?

Correct Answer
verified

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

Correct Answer
verified

Correct Answer
verified

An external evaluation that consists of preliminary testing of a new-product idea (rather than the actual product) with consumers is called:

Correct Answer
verified

In terms of brand loyalty, consumers are aware of a brand but will readily accept substitutes. This is characteristic of:

Correct Answer
verified

The addition of Sparkling Apple-Scented, Invigorating Breeze-Scented, and Summer Citrus-Scented versions of Mr. Clean antibacterial cleaning liquid is an example of:

Correct Answer
verified

Which of the following best illustrates the concept of derived demand as explained in the text?

Correct Answer
verified

All of the following are protocol criteria for new-product development, except:

Correct Answer
verified

Within each product line, a specific product as noted by a unique brand, size, or price is referred to as the _________.

Correct Answer
verified

Use of a tool such as 'Six Sigma' would most commonly be found in which stage of the new-product process?

Correct Answer
verified

What is a new product?

Correct Answer
verified

Which of the following would most likely be considered a consumer good?

Correct Answer
verified

Support goods include all of the following EXCEPT:

Correct Answer
verified

When the University of Guelph decided to offer a totally online MBA program where you never have to visit campus to complete your degree, this would be classified as what type of service innovation?

Correct Answer
verified

How can companies use social media when developing new products?

Correct Answer
verified

Correct Answer
verified

Cat food is to a nondurable good, as_________ is to a durable good.

Correct Answer
verified

Which of the following products was the best example of a continuous innovation when introduced?

Correct Answer
verified

Exam 10: Developing New Products and Services

Perceptual maps and product positioning diagrams are most likely used in which new-product stage?

Correct AnswerverifiedShow Answer

A young musician goes on tour to promote his new album. The concerts are a huge success, but due to a problem in distribution, the musician's CDs do not arrive in the music stores until six weeks after the tour. Why did CDs sales fall far short of plans?

Correct AnswerverifiedShow Answer

Distribution is most limited with which of the following types of consumer goods?

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

An external evaluation that consists of preliminary testing of a new-product idea (rather than the actual product) with consumers is called:

Correct AnswerverifiedShow Answer

In terms of brand loyalty, consumers are aware of a brand but will readily accept substitutes. This is characteristic of:

Correct AnswerverifiedShow Answer

The addition of Sparkling Apple-Scented, Invigorating Breeze-Scented, and Summer Citrus-Scented versions of Mr. Clean antibacterial cleaning liquid is an example of:

Correct AnswerverifiedShow Answer

Which of the following best illustrates the concept of derived demand as explained in the text?

Correct AnswerverifiedShow Answer

All of the following are protocol criteria for new-product development, except:

Correct AnswerverifiedShow Answer

Within each product line, a specific product as noted by a unique brand, size, or price is referred to as the _________.

Correct AnswerverifiedShow Answer

Use of a tool such as 'Six Sigma' would most commonly be found in which stage of the new-product process?

Correct AnswerverifiedShow Answer

What is a new product?

Correct AnswerverifiedShow Answer

Which of the following would most likely be considered a consumer good?

Correct AnswerverifiedShow Answer

Support goods include all of the following EXCEPT:

Correct AnswerverifiedShow Answer

When the University of Guelph decided to offer a totally online MBA program where you never have to visit campus to complete your degree, this would be classified as what type of service innovation?

Correct AnswerverifiedShow Answer

How can companies use social media when developing new products?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Cat food is to a nondurable good, as_________ is to a durable good.

Correct AnswerverifiedShow Answer

Which of the following products was the best example of a continuous innovation when introduced?

Correct AnswerverifiedShow Answer

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