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Questions
Q:
In terms of brand loyalty, consumers are very brand loyal and will not accept substitutes for which type of consumer product?
A. shopping product
B. convenience product
C. specialty product
D. unsought product
E. discretionary product
Q:
One tool available for services when dealing with capacity management is to use __________ to charge different prices during different times of the day or the week to help match the supply and demand for their services.
A. variable hours of operation - opening or closing a store at different times
B. sales promotion incentives such as coupons
C. off-peak pricing
D. build-to-order service delivery systems
E. rationing
Q:
In terms of promotion, which of the following type of consumer product stresses status and brand uniqueness?
A. specialty product
B. convenience product
C. shopping product
D. unsought product
E. discretionary product
Q:
In implementing capacity management, service providers use __________ to charge different prices for different times of the day or week to help match the supply and demand for their services.
A. off-peak pricing
B. dynamic pricing
C. capacity pricing
D. down-time pricing
E. yield management pricing
Q:
Distribution is very limited with which of the following type of consumer product?
A. shopping product
B. convenience product
C. discretionary product
D. prepurchase product
E. specialty product
Q:
For services, business analysis must consider __________, which finds ways to match the availability of the service to when it is needed.
A. capacity management
B. customer experience management
C. derived demand
D. internal marketing
E. the seven I's of services GDP
Q:
With respect to price, which of the following type of consumer product would usually be very expensive?
A. convenience product
B. shopping product
C. discretionary product
D. specialty product
E. unsought product
Q:
A prototype is a
A. miniature version of an actual new product used in concept testing to identify any changes that need to be made prior to its commercialization.
B. full-scale operating model of the product under development.
C. sample of a new product given to prospective customers and opinion leaders used to generate awareness prior to the product's commercial release.
D. simulated operating model of the product given to consumers to use in full-scale field testing.
E. digital version of a product produced in multiple shapes, colors, and sizes to determine which version of the product customers like best.
Q:
Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision?
A. convenience product
B. shopping product
C. specialty product
D. unsought product
E. discretionary product
Q:
Specialty products refer toA. products for which there are no close substitutes.B. products purchased for their prestige or high perceived value.C. products a consumer will make a specific effort to search out and buy.D. items for which the consumer compares several alternatives on several criteria such as price, quality, or style.E. items that the consumer does not know about or knows about but does not initially buy.
Q:
All of the following actions occur during the business analysis stage of the new-product process EXCEPT:
A. using capacity management to find ways to match the availability of the service offering to when it is needed.
B. assessing the marketing and product synergies related to the company's existing operations.
C. turning the idea on paper into a prototype.
D. determining whether the new product can be protected with a patent or copyright.
E. assessing whether the proposed new product fits with the company's mission and objectives.
Q:
You 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?
A. specialty product
B. unsought product
C. discretionary product
D. shopping product
E. convenience product
Q:
Factors such as specifying product features, marketing strategy, and financial projections are a part of which stage of the new-product process?
A. idea generation
B. market testing
C. development
D. commercialization
E. business analysis
Q:
In terms of brand loyalty, consumers prefer specific brands but will accept substitutes for which type of consumer product?
A. shopping product
B. convenience product
C. specialty product
D. unsought product
E. discretionary product
Q:
Detailed financial projections and assessments of marketing and product synergies are a part of which stage of the new-product process?
A. idea generation
B. market testing
C. business analysis
D. development
E. commercialization
Q:
In terms of promotion, which of the following type of consumer product stresses product differentiation from competitors?
A. shopping product
B. convenience product
C. specialty product
D. unsought product
E. discretionary product
Q:
A general review of possible marketing and product synergies, economic analysis, and cannibalization potential would all take place during which stage of the new-product process?
A. business analysis
B. screening and evaluation
C. new-product strategy development
D. development
E. These activities are addressed at every stage except new-product strategy development.
Q:
With respect to price and availability, shopping products are likely to be
A. relatively inexpensive and widely available.
B. relatively inexpensive but very limited availability.
C. very expensive and available at a large number of selective outlets.
D. very expensive with very limited availability.
E. fairly expensive and available at a large number of selective outlets.
Q:
An assessment of the fit of the proposed new products, from whether it can be economically developed and manufactured to the marketing strategy needed, take place during which stage of the new-product process?
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.
Q:
With respect to distribution, shopping products are available
A. by special order from the manufacturer.
B. at an extremely small number of outlets.
C. at relatively few outlets.
D. at a large number of selective outlets.
E. on a widespread basis at many outlets.
Q:
Business analysis refers to the stage of the new product process
A. where the target markets are selected and resources are allocated to reach them.
B. where the target market segments that show potential are selected and those that do not are eliminated.
C. that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections.
D. where there is a formal accounting of all monies spent on R&D to determine the return on investment (ROI) that the new product will give back to the firm.
E. that internally and externally evaluates new-product ideas to eliminate those warranting no further effort.
Q:
Which type of consumer product is purchased relatively infrequently and the purchase decision takes some time because the consumer compares offerings during the shopping experience?
A. convenience product
B. shopping product
C. specialty product
D. unsought product
E. discretionary product
Q:
The stage of the new product process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections is referred to as
A. idea generation.
B. business analysis.
C. marketing analysis.
D. product development.
E. commercialization.
Q:
The type of good for which the consumer compares several alternatives on such criteria as price, quality, and style is a(n)
A. shopping product.
B. convenience product.
C. specialty product.
D. unsought product.
E. B2B product.
Q:
Concept tests are part of which stage in the new-product process?
A. development
B. screening and evaluation
C. idea generation
D. new-product strategy development
E. business analysis
Q:
Shopping products refer to items that the consumer
A. purchases frequently, conveniently, and with a minimum of effort.
B. compares several alternatives on criteria such as price, quality, or style.
C. makes a special effort to search out and buy.
D. does not know about or knows about but does not initially buy.
E. buys as a result of buying others' consumer products, such as impulse purchases.
Q:
A concept test is an
A. internal evaluation among members of the entire cross-functional new-product development team that consists of preliminary testing of a new-product idea rather than the actual product.
B. external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual product.
C. internal evaluation that consists of preliminary testing of a new-product idea using a mock-up or prototype of the new item.
D. in-house computer simulation of the new product that closely resembles the actual product to forecast sales.
E. in-depth questionnaire filled out both by internal marketing personnel and external customers to ensure that the final product meets all the needs expressed in the original product plan.
Q:
Items for which the consumer compares several alternatives on several criteria such as price, quality, or style are referred to as __________.
A. specialty products
B. selective products
C. shopping products
D. prestige products
E. convenience products
Q:
An external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual product is referred to as
A. new-product strategy development.
B. idea generation.
C. crowdsourcing.
D. market testing.
E. a concept test.
Q:
Which of the following is the best example of a convenience product?
A. Kindle Fire
B. Lexus LS 460 luxury automobile
C. flight on United Airlines
D. Roget's Thesaurus
E. Hidden Valley Ranch salad dressing
Q:
__________ includes considering employee interactions with customers to ensure they are consistently delivered and experienced, clearly differentiated from other offerings, and relevant and valuable to the target market.
A. Capacity management
B. Customer experience management
C. Derived demand
D. Internal marketing
E. The key service factor
Q:
In terms of brand loyalty, consumers are aware of a brand but will readily accept substitutes for which type of product?
A. convenience products
B. specialty products
C. unsought products
D. shopping products
E. supplies
Q:
Customer experience management (CEM) is
A. the integration of the service component of the marketing mix with efforts to influence consumer demand.
B. the unique combination of benefits received by targeted buyers that include quality, convenience, on-time delivery, and both before-sale and after-sale service at a specific price.
C. the process of managing the entire customer experience within the company.
D. a cluster of benefits that an organization promises customers to satisfy their needs.
E. the ability of logistics management to satisfy users in terms of time, dependability, communication, and convenience.
Q:
In terms of promotion, which of the following type of product would stress price, availability, and awareness?
A. shopping
B. convenience
C. specialty
D. unsought
E. supply
Q:
A 3M researcher worked with university students to develop the Post-itu00e2u2020u2019 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?
A. idea generation
B. screening and evaluation
C. business analysis
D. new-product strategy development
E. concept testing
Q:
With respect to distribution, convenience products are available
A. at relatively few outlets.
B. at a large number of specialty outlets.
C. only online from the manufacturer.
D. only at convenience stores.
E. on a widespread basis at many outlets.
Q:
An important aspect of the screening and evaluation stage of the new-product process is an examination of the technical feasibility for the product. For example, 3M was able to use the firm's micro-replication technology (the 3,000 tiny fingers) to
A. improve the gripping power of batting or work gloves.
B. keep baseball caps from sliding off the heads of bald men.
C. make Formula One race cars more aerodynamic.
D. as a replacement for Velcro's hook-and-loop fasteners.
E. hold pictures in a photo album without damaging them.
Q:
In terms of price, which of the following types of consumer product would be relatively inexpensive?
A. shopping product
B. convenience product
C. specialty product
D. unsought product
E. supplies
Q:
The __________ stage of the new-product process includes an examination of the technical feasibility for the product, such as 3M determining that the firm's micro-replication technology (the 3,000 tiny gripping fingers) could be used to improve the gripping power of batting or work gloves.
A. development
B. Stage-Gate
C. idea generation
D. business analysis
E. screening and evaluation
Q:
Convenience products refer to
A. items that consumers will make special efforts to seek out and buy.
B. items for which consumers compare several alternatives on criteria such as price, quality, or style.
C. products consumers purchase frequently and with a minimum of shopping effort.
D. ancillary products used to make other products work more efficiently.
E. low-cost items for which there are numerous substitutes and generic equivalents.
Q:
The screening and evaluation stage of the new-product process involves
A. internal and external evaluations of new-product ideas.
B. product selection and budgeting projections.
C. business and cost analyses.
D. patent searches and environmental scanning.
E. idea selection and prototype development.
Q:
Consumer product classifications differ in terms of the: (1) effort the consumer spends on the decision; (2) frequency of purchase; and (3) the
A. amount of money the customer is willing and able to spend.
B. number of competing or substitute products.
C. demographics of the consumer.
D. attributes used in making the purchase decision.
E. consumer segmentation characteristics.
Q:
Screening and evaluation refers to the stage of the new-product process
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.
Q:
An iMac personal computer from Apple can be classified according to all of the following categories EXCEPT:
A. a business product.
B. a nondurable good.
C. a B2B product.
D. a durable good.
E. a consumer product.
Q:
The stage of the new-product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort is referred to as __________.
A. development
B. stage-gate
C. idea generation
D. business analysis
E. screening and evaluation
Q:
Industrial products are also referred to as __________ products.
A. consumer
B. merchandise
C. organizational
D. resale
E. business
Q:
Which of the following firms uses crowdfunding to raise capital for products that are unlikely to get resources from traditional sources?
A. IDEO
B. Kickstarter.com
C. Warren Buffet's Berkshire Hathaway
D. the Industrial Design Group
E. Unfundale.com
Q:
Business products are also referred to as __________.
A. commodities
B. industrial products
C. wares
D. resale products
E. merchandise
Q:
Because early-stage financing is almost always a problem for those starting a new business, __________ is a way to gather an online community of supporters to financially rally around a specific project that is unlikely to get resources from traditional sources.
A. crowdfunding
B. open sourcing
C. venture capital
D. online banking
E. crowdsourcing
Q:
Business products are also referred to as __________.
A. B2B products
B. B2C products
C. B4B products
D. BOB products
E. B4C products
Q:
Business products refer to
A. products organizations buy that assist in providing other products for resale.
B. supplies necessary for the day-to-day operations of a business.
C. ancillary services necessary for the operation of a business.
D. products that are sold exclusively to for-profit businesses.
E. products purchased by the ultimate consumer.
Q:
Imagine you work for a TV production company that has been approached by one of the broadcast TV networks to develop a concept for a new reality show. Where are you most likely to look first for ideas?
A. conducting a survey among the 2 million people belonging to the NPD Consumer Panel
B. observing similar reality programs that are on competing television networks like CBS or MTV
C. contacting contestants from other reality shows like Survivor or The Amazing Race
D. brainstorming ideas from the TV production company's employees
E. reading about the stars of reality TV programs in gossip magazines like Us Weekly and TV programs like TMZ
Q:
Products organizations buy that assist in providing other products for resale are referred to as __________.
A. reseller goods
B. wholesale goods
C. business products
D. ancillary products
E. retail products
Q:
In addition to seeking ideas from more well-known sources, organizations also get ideas from universities, inventors, and smaller nontraditional firms. For example, General Mills partnered with Brigham Young University to license its patent for __________.
A. scones with coffee-flavored cream frosting
B. an Omega-3 enriched SKU for the Philadelphia cream cheese line
C. a carbonated yogurt called Go-Gurt Fizzix
D. deep fried chicken skins for people who cannot eat pork
E. a crispy baked macaroni and cheese snack that can be eaten out of a bag like Cheetos
Q:
Which of the following would most likely be considered a consumer product?
A. bricks
B. cotton fiber
C. printing press
D. suitcases
E. mainframe computer
Q:
Brainstorming sessions at IDEO can generate as many as __________ ideas for products in an hour.
A. 10
B. 25
C. 50
D. 100
E. 200
Q:
Products that are purchased by the ultimate consumer are referred to as __________.
A. generic products
B. end user goods
C. personal items
D. merchandise
E. consumer products
Q:
IDEO is a company that
A. creates innovative promotional programs for its clients' new products.
B. is a firm that developed the formal Stage-Gate process to commercialize new products for its clients.
C. uses design thinking to develop new products for other organizations.
D. rates new products like Consumer Reports.
E. runs patent searches for companies that don't have and internal legal department.
Q:
Consumer products refer to
A. products used in the production of other items.
B. products purchased by the ultimate consumer.
C. products an industrial buyer will make an effort to seek out and buy.
D. items purchased frequently and with a minimum of shopping effort.
E. products that assist directly or indirectly in providing products for resale.
Q:
Dell used __________ to develop an online site to generate 13,464 ideas for new products and website and marketing improvements.
A. brainstorming
B. crowdsourcing
C. group think
D. outsourcing
E. data mining
Q:
Which of the following is considered an idea?
A. haircut
B. birdfeeder
C. theater production
D. marketing class
E. security
Q:
Generating insights leading to marketing actions based on massive numbers of peoples' ideas is called __________.
A. brainstorming
B. groupthink
C. outsourcing
D. crowdsourcing
E. NIH method
Q:
In marketing, a(n) __________ is a thought that leads to a product or action.
A. observation
B. inspiration
C. innovation
D. idea
E. perception
Q:
Business researchers emphasize that firms must actively involve customers and suppliers in the new-product development process. This means that the focus should be on what the new product will __________ rather than simply what they want.
A. look like
B. cost them
C. do for them
D. feel like
E. consist of in terms of new features
Q:
In marketing, an idea is
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.
Q:
All of the following are sources for new product ideas EXCEPT:
A. competitors.
B. universities.
C. regulators.
D. suppliers.
E. employees.
Q:
Which of the following statements about services is most accurate?
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.
Q:
Open innovation helps organization overcome __________, one of the organizational inertias common in new-product failures.
A. groupthink
B. intelligent failures
C. incomplete protocols
D. NIH barriers
E. bad timing
Q:
Which of the following is considered a service?
A. online banking
B. bathing suit
C. silverware
D. washing machine
E. freedom
Q:
Open innovation may enhance the __________ stage of the new-product process.
A. open innovation
B. screening and evaluation
C. product development
D. new-product strategy development
E. idea generation
Q:
Which of the following is considered a service?
A. lamp
B. motorcycle
C. potato chips
D. a marketing class
E. environmentalism
Q:
Many forward-looking companies have discovered that their own organization does not generate enough useful new-product ideas. This has caused them to find new product ideas by developing strategic relationships with outside individuals and organizations, a practice known as __________.
A. innovation alliances
B. open innovation
C. open collaboration
D. piggy-back thinking
E. stakeholder cooperation
Q:
Intangible items such as airline trips, financial advice, or telephone service that an organization provides to consumers are referred to as
A. production goods.
B. support products.
C. services.
D. goods.
E. benefits.
Q:
Idea generation refers to
A. the stage of the new-product process when concepts are converted to prototypes.
B. the stage of the new-product process that develops a pool of concepts to serve as candidates for new-products.
C. the stage of the new-product process where possible promotional campaigns and advertising themes are created.
D. the techniques used to screen and reject those ideas that have no merit.
E. the discussion and decision of which as target market segments will be selected.
Q:
Figure 9-1
As shown in Figure 9-1 above, which of the following statements is most accurate?
A. Services are a smaller part of the gross domestic product than are goods.
B. In 2012, goods represent a larger part of the gross domestic product than services.
C. In 1995, services were worth almost $1 billion.
D. Until 1980, goods and services contributed almost equally to the gross domestic product (GDP).
E. In 2012, goods were 50 percent of the GDP.
Q:
Idea generation is the stage in the new-product process that
A. develops a pool of concepts to serve as candidates for new products.
B. selects a single concept and scrutinizes it for all potential benefits and flaws.
C. separates ideas into two categories: consumer-oriented and organization-oriented.
D. requires the organization to perform a SWOT analysis and an environmental scan.
E. consists of the techniques used to screen and reject those ideas that have no merit.
Q:
Services contribute how much to the U.S. gross domestic product as compared with goods?
A. services contribute about the same
B. services contribute about half as much
C. services contribute about twice as much
D. services contribute about one quarter as much
E. services are not a component of GDP
Q:
Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.
A. open innovation
B. screening and evaluation
C. product development
D. new-product strategy development
E. idea generation
Q:
Services are
A. the tangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
B. the activities provided to complement a tangible good, such as technical support for a computer.
C. the intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
D. any activity required for the production of a good that cannot be completed "in-house" and must be outsourced to another firm.
E. the human (nonmechanical) component that is part of the manufacturing process.
Q:
The stage of the new-product process that develops a pool of concepts to serve as candidates for new products is referred to as __________.
A. idea generation
B. product development
C. open innovation assessment
D. screening and evaluation
E. new-product strategy development