Question 1

All of the different product lines offered by an organization are collectively referred to as a

Accepted Answer

A)  product class.
B)  product mix.
C)  product SKUs.
D)  marketing mix.
E)  target mix.

Question 2

One of the eight primary marketing-related reasons for new-product failure is __________.

Accepted Answer

A)  the product is too innovative
B)  a competitor with a similar product withdrew from the market
C)  too socially controversial
D)  poor product quality
E)  product was marketed as a new product but it did not meet the legal definition of new

Question 3

In marketing, an idea is

Accepted Answer

A)  a thought that leads to a product or action.
B)  an inspiration that evolved from market research.
C)  an observation about a series of events.
D)  a concept explaining the behavior of an individual or group.
E)  an observation about an individual or group and how they use a service or product.

Question 4

Which of the following statements about services is most accurate?

Accepted Answer

A)  Although a major contributor to the GDP nationally, services play only a minor role in GDP on a global scale.
B)  The marketing of services is, in a practical sense, identical to the marketing of products or ideas since they both satisfy customer needs.
C)  Only 10% of all jobs created in the United States are in the services sector.
D)  In the U.S., services contribute about twice the value of goods to the GDP.
E)  There is much more in common with the marketing of services and business products than there is between the marketing of services and consumer products.

Question 5

Services depend on the people who provide them. As a result, their quality varies with each person's capabilities and day-to-day job performance. This element of services is referred to as __________.

Accepted Answer

A)  incongruity
B)  differentiation
C)  variation
D)  inconsistency
E)  intangibility

Question 6

-When Heinz introduced its new EZ Squirt Ketchup bottle (see the photo above) , the degree of newness for the consumer would make this a

Accepted Answer

A)  continuous innovation.
B)  discontinuous innovation.
C)  dynamically continuous innovation.
D)  spontaneous innovation.
E)  continuous invention.

Question 7

The categories for people-based services include __________.

Accepted Answer

A)  volunteers, skilled operators, and professionals
B)  unskilled labor, skilled labor, and professionals
C)  unskilled operators, unskilled labor, and skilled labor
D)  automated, skilled operators, and unskilled labor
E)  automated, skilled operators, and professionals

Question 8

-Figure 9-5 above represents the seven stages of the new-product development process. Stage 1 is the __________ stage.

Accepted Answer

A)  idea generation
B)  screening and evaluation
C)  screening and analysis
D)  new-product strategy development
E)  product assessment

Question 9

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

Accepted Answer

A)  tractor
B)  phosphoric acid
C)  photocopier maintenance
D)  athletic training facility
E)  syringes

Question 10

All of the following are examples of test markets EXCEPT:

Accepted Answer

A)  controlled test market
B)  concept test market
C)  simulated test market
D)  laboratory test market
E)  standard test market

Question 11

Test marketing involves offering a product for sale

Accepted Answer

A)  to random sample of people in the top ten major cities of the U.S.
B)  in as broad a geographic region as possible.
C)  to consumers that are representative of the target market.
D)  on a limited basis in a defined area.
E)  only on certain days of the week and hours of the day.

Question 12

A 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, and are distributed through the same type of outlets, or __________.

Accepted Answer

A)  are made of similar components
B)  fall within a given price range
C)  made from the same formulations
D)  are identical except for price
E)  require high levels of R&D

Question 13

Screening and evaluation refers to the stage of the new-product process

Accepted Answer

A)  at which prospective customers are exposed to new product prototypes for the first time.
B)  at which new product concepts that have been found viable are converted into actual prototypes.
C)  that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort.
D)  that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.
E)  where consumers evaluate a new product's performance in an actual-use situation.

Question 14

Commercialization is the stage in the new-product process

Accepted Answer

A)  at which the product is positioned and launched in full-scale production and sales.
B)  during which the firm performs its final evaluations of the new-product.
C)  when second-year sales forecasts are compared to actual first-year sales figures using a marketing dashboard.
D)  when advertising campaigns are evaluated using Starch scores to identify brand awareness.
E)  at which the product generates the greatest sales and profits.

Question 15

The seven stages an organization goes through to identify business opportunities and convert them into salable products or services is referred to as the __________.

Accepted Answer

A)  commercialization process
B)  SWOT process
C)  business prospect development cycle
D)  opportunity stage gate sequence
E)  new-product process

Question 16

After the new owner purchased a fully equipped yogurt factory, it took a yogurt master a year and a half to come up with the perfect formulation for Chobani Greek Yogurt. The most likely stage of the new-product process during which this time was spent is __________.

Accepted Answer

A)  development
B)  market testing
C)  idea generation
D)  screening and evaluation
E)  business analysis

Question 17

Sarah has a backache due to overexertion. She believes a massage would loosen her back muscles and help her feel better. She is concerned because a massage, unlike a pair of shoes, cannot be experienced or seen before she buys it. Which characteristic of services is she concerned about?

Accepted Answer

A)  incongruity
B)  inconsistency
C)  intangibility
D)  inventory costs
E)  inseparability

Question 18

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.

Question 19

The division of products into durable and nondurable goods helps to __________.

Accepted Answer

A)  comply with NAICS guidelines
B)  address environmental concerns
C)  comply with ISO 9000 requirements
D)  classify products for tax purposes
E)  provide direction for marketing actions

Question 20

How a person establishes expectations for a service not yet experienced is influenced by word-of-mouth communications, __________, past experiences, and promotional activities.

Accepted Answer

A)  personal needs
B)  the economy
C)  consumer income
D)  competitive trends
E)  how the organization delivers its service

Exam 9: Developing New Products and Services

Services can be classified by

Correct AnswerverifiedShow Answer

Test marketing involves offering a product for sale

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

Correct AnswerverifiedShow Answer

The seven stages an organization goes through to identify business opportunities and convert them into salable products or services is referred to as the __________.

Correct AnswerverifiedShow Answer

In marketing, an idea is

Correct AnswerverifiedShow Answer

All of the following are examples of test markets EXCEPT:

Correct AnswerverifiedShow Answer

How a person establishes expectations for a service not yet experienced is influenced by word-of-mouth communications, __________, past experiences, and promotional activities.

Correct AnswerverifiedShow Answer

The categories for people-based services include __________.

Correct AnswerverifiedShow Answer

All of the different product lines offered by an organization are collectively referred to as a

Correct AnswerverifiedShow Answer

-When Heinz introduced its new EZ Squirt Ketchup bottle (see the photo above) , the degree of newness for the consumer would make this a

Correct AnswerverifiedShow Answer

The division of products into durable and nondurable goods helps to __________.

Correct AnswerverifiedShow Answer

Which of the following statements about services is most accurate?

Correct AnswerverifiedShow Answer

One of the eight primary marketing-related reasons for new-product failure is __________.

Correct AnswerverifiedShow Answer

After the new owner purchased a fully equipped yogurt factory, it took a yogurt master a year and a half to come up with the perfect formulation for Chobani Greek Yogurt. The most likely stage of the new-product process during which this time was spent is __________.

Correct AnswerverifiedShow Answer

Screening and evaluation refers to the stage of the new-product process

Correct AnswerverifiedShow Answer

Commercialization is the stage in the new-product process

Correct AnswerverifiedShow Answer

A 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, and are distributed through the same type of outlets, or __________.

Correct AnswerverifiedShow Answer

Sarah has a backache due to overexertion. She believes a massage would loosen her back muscles and help her feel better. She is concerned because a massage, unlike a pair of shoes, cannot be experienced or seen before she buys it. Which characteristic of services is she concerned about?

Correct AnswerverifiedShow Answer

-Figure 9-5 above represents the seven stages of the new-product development process. Stage 1 is the __________ stage.

Correct AnswerverifiedShow Answer

Services depend on the people who provide them. As a result, their quality varies with each person's capabilities and day-to-day job performance. This element of services is referred to as __________.

Correct AnswerverifiedShow Answer

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