Question 1

Which of the following best illustrates the concept of derived demand?

Accepted Answer

A)  The number of retail stores in a downtown area decreases and demand for retail goods increases.
B)  An increase in the number of new single-family homes results from a spurt in the gross national product.
C)  The heat wave results in an increased demand for air conditioners.
D)  Container ship manufacturers experience an increase in sales because more products are demanded from Asia to be sold in the U.S.and must be transported by ship.
E)  Honda's reducing its car prices causes GM to do the same.F) B) and E)
G) A) and B)

Question 2

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers.This was done on a limited scale to determine consumer reactions before national distribution of the product.Breyer's new product was in the __________ stage of the new-product process.

Accepted Answer

A)  commercialization
B)  screening and evaluation
C)  business analysis
D)  development
E)  market testingF) C) and E)
G) None of the above

Question 3

The emergency room staff in Houston's largest hospital is surprised and pleased when a four-day Fourth of July weekend brings fewer accident victims in for treatment.They know from experience that such public holidays usually have high rates of accidents.For the hospital business office, the lower demand for the emergency room services means

Accepted Answer

A)  a break in the goods-services continuum.
B)  its services are no longer tangible.
C)  its services can be separated from the staff.
D)  the hospital had idle production capacity.
E)  an opportunity for gap analysis.F) A) and D)
G) C) and D)

Question 4

The new-product process refers to

Accepted Answer

A)  the informal process of "brain storming" ideas at a marketing meeting.
B)  the process of presenting cross-functional teams with a written product concept statement and asking them to respond to it in writing.
C)  the seven stages an organization goes through to identify business opportunities and convert them to a salable product or service.
D)  the six stages an organization goes through from idea generation to commercialization.
E)  a formalized protocol for new-product development that begins at the corporate level and ends at the corporate level.F) All of the above
G) B) and C)

Question 5

FIGURE 10-7 
-Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "C" represents the __________ stage.

Accepted Answer

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

Question 6

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 referred to as __________.

Accepted Answer

A)  a consumer good
B)  a product
C)  a manufactured good
D)  a stock item
E)  merchandiseF) C) and E)
G) B) and C)

Question 7

One major organizational problem is the failure to learn from past mistakes.The easiest lessons learned are from "intelligent failures." Intelligent failures are

Accepted Answer

A)  unintentional actions that ironically have positive outcomes.
B)  mistakes that can be hidden from the consumer with minor adjustments such as printing new labels.
C)  mistakes that occur early in the process so they are less expensive and provide immediate understanding of the customers' true needs and wants.
D)  mistakes that occur in a product designated for one market that can become product benefits to a different market with little or no additional marketing actions required.
E)  mistakes that result in the phrase "I knew that," implying that an action was intentional when it actually was not, and still defending that action even though it is not working.F) C) and D)
G) B) and D)

Question 8

A stunning benefit of the Ionator is in the __________ area.

Accepted Answer

A)  service
B)  production
C)  technology
D)  environmental
E)  consumer healthF) B) and C)
G) C) and D)

Question 9

Where would potatoes, a photographic studio, and a psychologist fit into the goods-service continuum?

Accepted Answer

The goods-service continuum refers to th...

Question 10

New product failures may be avoided if the company developing the new product has

Accepted Answer

A)  a precise protocol.
B)  a clear product definition.
C)  a statement of intent with measures of success.
D)  top-management involvement in the development process.
E)  a marketer-dominated source of information for consumers.F) C) and D)
G) B) and E)

Question 11

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 unique identification number that the Vermont Teddy Bear Company uses to distinguish this Teddy bear from the others in its inventory and to order new stock when its numbers are depleted is a(n)

Accepted Answer

A)  Universal product code.
B)  Independent stock code.
C)  Order quantity code.
D)  Stock keeping unit.
E)  Stock ID code.F) A) and E)
G) B) and E)

Question 12

Which of the following is the best example of a nondurable good?

Accepted Answer

A)  laundry detergent
B)  shoes
C)  insurance
D)  iPod
E)  laser surgeryF) D) and E)
G) All of the above

Question 13

New flavors like lemon-lime, crystal mint, and mint mojito helped the Wm.Wrigley Jr.Co.add to its profitability.These new flavors of gum are which type of innovation?

Accepted Answer

A)  continuous innovation
B)  dynamically continuous innovation
C)  discontinuous innovation
D)  insignificant innovation
E)  interruptive innovationF) B) and E)
G) A) and E)

Question 14

After Microsoft launched its Xbox 360 video-game console, millions began to experience the "red ring of death." The problem: The consoles' microprocessors ran too hot, causing them to "pop off" their motherboards.This cost the company not only in money to extend its product warranty, but a huge portion of future sales, and market share to Sony and Nintendo.This failure was due to

Accepted Answer

A)  not satisfying customer needs on critical factors.
B)  poor product quality.
C)  an insignificant point of difference.
D)  incomplete market and product protocol.
E)  too little market attractiveness.F) A) and B)
G) A) and C)

Question 15

Microsoft, introduced its Zune player a few years after Apple launched its iPod and other competitors offered new MP3 players.The primary reason for the product's failure to meet expectations was due in great part to

Accepted Answer

A)  bad timing.
B)  not satisfying customer needs on critical factors.
C)  poor product quality.
D)  an insignificant point of difference.
E)  incomplete market and product protocol.F) A) and B)
G) A) and D)

Question 16

101 Which of the following would most likely be considered an industrial service?

Accepted Answer

A)  photocopier
B)  sheet rock
C)  office cleaning
D)  radio towers
E)  ink cartridgesF) A) and C)
G) A) and E)

Question 17

FIGURE 10-7 
-As shown in Figure 10-7 above, identify and describe each of the seven stages in the new-product process.List each stage in its proper order.

Accepted Answer

(1) New-product strategy development: de...

Question 18

Which of the following is an example of an organizational problem that can cause a new product failure?

Accepted Answer

A)  Disproportionate creativity and out-of-the box thinking.
B)  Too much input from different departments within the firm.
C)  Not learning critical takeaway lessons from past failures.
D)  Intense brand recognition.
E)  Excessive checks and balances prior to a new product release.F) A) and B)
G) A) and C)

Question 19

Characterize the difference between a product line and a product mix.Give an example of each.

Accepted Answer

A product line is a group of products th...

Question 20

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

Accepted Answer

A)  convenience products
B)  shopping product
C)  specialty products
D)  unsought products
E)  production goodsF) A) and D)
G) A) and E)

Exam 10: Developing New Products and Services

The new-product process refers to

Correct Answer
verified

Which of the following is the best example of a nondurable good?

Correct Answer
verified

Which of the following is an example of an organizational problem that can cause a new product failure?

Correct Answer
verified

Correct Answer
verified

One major organizational problem is the failure to learn from past mistakes.The easiest lessons learned are from "intelligent failures." Intelligent failures are

Correct Answer
verified

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers.This was done on a limited scale to determine consumer reactions before national distribution of the product.Breyer's new product was in the __________ stage of the new-product process.

Correct Answer
verified

Which type of consumer product 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

Which of the following best illustrates the concept of derived demand?

Correct Answer
verified

A stunning benefit of the Ionator is in the __________ area.

Correct Answer
verified

New product failures may be avoided if the company developing the new product has

Correct Answer
verified

101 Which of the following would most likely be considered an industrial service?

Correct Answer
verified

FIGURE 10-7 -Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "C" represents the __________ stage.

Correct Answer
verified

Characterize the difference between a product line and a product mix.Give an example of each.

Correct Answer
verified
A product line is a group of products th...
View Answer

New flavors like lemon-lime, crystal mint, and mint mojito helped the Wm.Wrigley Jr.Co.add to its profitability.These new flavors of gum are which type of innovation?

Correct Answer
verified

Where would potatoes, a photographic studio, and a psychologist fit into the goods-service continuum?

Correct Answer
verified
The goods-service continuum refers to th...
View Answer

Microsoft, introduced its Zune player a few years after Apple launched its iPod and other competitors offered new MP3 players.The primary reason for the product's failure to meet expectations was due in great part to

Correct Answer
verified

FIGURE 10-7 -As shown in Figure 10-7 above, identify and describe each of the seven stages in the new-product process.List each stage in its proper order.

Correct Answer
verified
(1) New-product strategy development: de...
View 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 referred to as __________.

Correct Answer
verified

Correct Answer
verified

Exam 10: Developing New Products and Services

The new-product process refers to

Correct AnswerverifiedShow Answer

Which of the following is the best example of a nondurable good?

Correct AnswerverifiedShow Answer

Which of the following is an example of an organizational problem that can cause a new product failure?

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

One major organizational problem is the failure to learn from past mistakes.The easiest lessons learned are from "intelligent failures." Intelligent failures are

Correct AnswerverifiedShow Answer

Breyer's introduced a new line of ice cream flavors for sale in elegant black containers.This was done on a limited scale to determine consumer reactions before national distribution of the product.Breyer's new product was in the __________ stage of the new-product process.

Correct AnswerverifiedShow Answer

Which type of consumer product 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

Which of the following best illustrates the concept of derived demand?

Correct AnswerverifiedShow Answer

A stunning benefit of the Ionator is in the __________ area.

Correct AnswerverifiedShow Answer

New product failures may be avoided if the company developing the new product has

Correct AnswerverifiedShow Answer

101 Which of the following would most likely be considered an industrial service?

Correct AnswerverifiedShow Answer

FIGURE 10-7 -Figure 10-7 above represents the seven stages of the new-product development process.Cubicle "C" represents the __________ stage.

Correct AnswerverifiedShow Answer

Characterize the difference between a product line and a product mix.Give an example of each.

Correct AnswerverifiedA product line is a group of products th...View AnswerShow Answer

New flavors like lemon-lime, crystal mint, and mint mojito helped the Wm.Wrigley Jr.Co.add to its profitability.These new flavors of gum are which type of innovation?

Correct AnswerverifiedShow Answer

Where would potatoes, a photographic studio, and a psychologist fit into the goods-service continuum?

Correct AnswerverifiedThe goods-service continuum refers to th...View AnswerShow Answer

Microsoft, introduced its Zune player a few years after Apple launched its iPod and other competitors offered new MP3 players.The primary reason for the product's failure to meet expectations was due in great part to

Correct AnswerverifiedShow Answer

FIGURE 10-7 -As shown in Figure 10-7 above, identify and describe each of the seven stages in the new-product process.List each stage in its proper order.

Correct Answerverified(1) New-product strategy development: de...View AnswerShow 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 referred to as __________.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

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Correct Answer
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A product line is a group of products th...
View Answer

Correct Answer
verified

Correct Answer
verified
The goods-service continuum refers to th...
View Answer

Correct Answer
verified

Correct Answer
verified
(1) New-product strategy development: de...
View Answer

Correct Answer
verified

Correct Answer
verified