Q&A Hero

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

Q: Services refer to A. ideas that consist of a bundle of tangible and intangible attributes that satisfies consumers' needs and is received in exchange for money or something else of value. B. intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. C. philanthropic activities performed in without expectations of monetary remuneration. D. any intangible activity that provides a benefit to a consumer that he or she could not have obtained or performed on his or her own. E. any tangible activity that provides a benefit to a consumer that he or she could not have obtained or performed on his or her own.

Q: Occasionally, a firm's Stage 1 product development activities can be blind-sided by a revolutionary new product or technology that completely disrupts its business, which is sometimes called a __________. A. marketing opportunity B. disruptive innovation C. business threat D. crowdsourcing E. concept test

Q: Intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value are referred to as __________. A. services B. goods C. products D. marketing mix E. ideas

Q: In which stage in the new-product process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats? A. idea generation B. screening and evaluation C. new-product strategy development D. business analysis E. development

Q: Which of the following is considered a durable good? A. silverware B. caviar C. marketing research D. chewing gum E. voting

Q: During the first stage of the new-product process, two important activities take place. They are A. SWOT analysis and environmental scanning. B. open innovation and business analysis. C. concept testing and product forecasting. D. R&D and operations set-up. E. environmental scanning and open innovation.

Q: Durable goods emphasize which of the following elements of the promotional mix? A. sales promotion B. personal selling C. advertising D. public relations E. direct marketing

Q: Which stage in the new-product process is a SWOT analysis used to identify the strategic role the new product might serve in the firm's business portfolio? A. idea generation B. screening and evaluation C. business analysis D. development E. new-product strategy development

Q: Cars and appliances are classified as A. reusable goods. B. nondisposable goods. C. imperishable goods. D. reliable products. E. durable goods.

Q: The first stage of the new-product process is A. idea generation. B. screening and evaluation. C. business analysis. D. new-product strategy development. E. concept testing.

Q: Products that usually last over many uses, such as cars and appliances, are referred to as A. endurable goods. B. nondisposable goods. C. imperishable goods. D. reliable products. E. durable goods.

Q: New-product strategy development refers to A. the stage of the new-product process where specific product features and benefits are selected prior creating a new-product prototype. B. a formalized protocol for new product development determined by director of marketing. C. the stage of the new-product process that defines the role for a new product in terms of the firm's overall objectives. D. the process of presenting cross-functional teams with a written new-product concept statement and asking them to respond to it in writing. E. the stage of the new-product process that turns the idea on paper into a prototype, which results in a demonstrable, producible product corresponding to its protocol.

Q: A durable good is defined as a(n) A. item consumed in one or a few uses. B. item that usually lasts over an extended number of uses. C. item that lasts at least one year without becoming obsolete. D. product purchased only for the use of ultimate consumers. E. product used in the production of other products.

Q: The stage of the new-product process that defines the role for a new product in terms of the firm's overall objectives is referred to as __________. A. distinctive competency determination B. new-product strategy development C. strategic marketing process D. strategic invention process E. product protocol definition

Q: Advertising is most important for which of the following products? A. bicycle B. toaster C. orange juice D. deck furniture E. watch

Q: One reason new products fail is that although most major corporations use a formal decision making process, sometimes they fail to critically evaluate the progress along the way. This is why many firms have a __________ to ensure that problems are corrected before proceeding to the next stage. A. written protocol B. Stage-Gate process C. cross-functional team D. prototype test E. test market

Q: Which of the following is the best example of a nondurable good? A. automobile B. e-reader C. baseball D. gasoline E. shoes

Q: Figure 9-5 Figure 9-5 above represents the seven stages of the new-product development process. Stage 7 is the __________ stage. A. business analysis B. screening and evaluation C. market testing D. commercialization E. development

Q: Which of the following is the best example of a nondurable good? A. laundry detergent B. shoes C. insurance D. iPod E. laser surgery

Q: Figure 9-5 Figure 9-5 above represents the seven stages of the new-product development process. Stage 6 is the __________ stage. A. business analysis B. screening and evaluation C. market testing D. commercialization E. development

Q: Among consumer products, advertising and wide distribution are especially important for A. durable goods. B. specialty products. C. nondurable goods. D. production goods. E. semidurable goods.

Q: Figure 9-5 Figure 9-5 above represents the seven stages of the new-product development process. Stage 5 is the __________ stage. A. business analysis B. screening and evaluation C. market testing D. commercialization E. development

Q: Items consumed in one or a few uses, such as food and fuel, are referred to as __________. A. services B. perishable goods C. durable goods D. nondurable goods E. disposable goods

Q: Figure 9-5 Figure 9-5 above represents the seven stages of the new-product development process. Stage 4 is the __________ stage. A. idea generation B. screening and evaluation C. business analysis D. new-product strategy development E. market testing

Q: A nondurable good is defined as a(n) A. item consumed in one or a few uses. B. item that usually lasts over an extended number of uses. C. item that lasts at least one year without becoming obsolete. D. product purchased only for the use of ultimate consumers. E. product used in the production of other products.

Q: Figure 9-5 Figure 9-5 above represents the seven stages of the new-product development process. Stage 3 is the __________ stage. A. idea generation B. screening and evaluation C. screening and analysis D. new-product strategy development E. product assessment

Q: A __________ is defined as an item consumed in one or a few uses. A. durable good B. convenience good C. specialty good D. shopping good E. nondurable good

Q: Figure 9-5 Figure 9-5 above represents the seven stages of the new-product development process. Stage 2 is the __________ stage. A. idea generation B. screening and evaluation C. screening and analysis D. new-product strategy development E. product assessment

Q: Which of the following statements regarding goods is most accurate? A. Nondurable goods would rely more on advertising than durable goods. B. Durable goods would benefit more on advertising than nondurable goods. C. There is little if any difference between marketing actions between durable and nondurable goods. D. Nondurable goods would rely more on personal selling than durable goods. E. The durable and nondurable classification applies to services as well as to products.

Q: Figure 9-5 Figure 9-5 above represents the seven stages of the new-product development process. Stage 1 is the __________ stage. A. idea generation B. screening and evaluation C. screening and analysis D. new-product strategy development E. product assessment

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

Q: The new-product process an organization goes through to identify business opportunities and convert them into salable products or services contains A. three main steps: research, production, and distribution. B. four distinct steps: research, evaluation, production, and distribution. C. five key phases ranging from idea generation to creating the first prototype. D. seven stages from new product strategy development to commercialization. E. three phases: planning, implementation, and evaluation.

Q: Which of the following statements regarding goods is most accurate? A. In order to be classified as a good, an item must appeal to all five senses. B. Music is not considered a good because it only involves a single sense - hearing. C. Some goods also have intangible attributes. D. To market a good that contains visual attributes, you cannot use an auditory medium. E. The aroma of chocolate chip cookies is considered an idea because it affects one's senses.

Q: The new-product process refers to A. the informal process of brain storming to generate new-product concepts at a marketing staff meeting. B. the process of presenting cross-functional teams with a written new-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 into salable products or services. D. the two 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 functional level.

Q: Goods can be divided into __________ goods and __________ goods. A. functional; aesthetic B. required; desired C. tactile; conceptual D. durable; nondurable E. product; service

Q: The seven stages an organization goes through to identify business opportunities and convert them into salable products or services is referred to as the __________. A. commercialization process B. SWOT process C. business prospect development cycle D. opportunity stage gate sequence E. new-product process

Q: A product that has tangible attributes that a consumer's five senses can perceive is referred to as a(n) A. good. B. service. C. product concept. D. new idea. E. artifact.

Q: UMD9: Marketing Dashboard Map In the UMD9: Marketing Dashboard Map above, the annual growth rate in each state is shown, with green (which looks gray on printed paper) meaning good and red (which looks black on printed paper) meaning very poor. If you were a marketing manager faced with this dashboard, which of the following would be the best action? A. Focus on the shortfalls in Idaho (ID) and Utah (UT). B. Revise the relevant goals for both east and west coast. C. Conduct additional market research in the southern United States. D. Examine your distribution system in the northeastern United States. E. Change the marketing metric being used to evaluate the states individually.

Q: A good has tangible attributes that a consumer's __________ can perceive. A. cognitive intelligence B. vision C. knowledge of past experiences D. five senses E. emotional intelligence

Q: UMD9: Marketing Dashboard Map In the UMD9: Marketing Dashboard Map above, the annual growth rate in each state is shown, with green (which looks gray on printed paper) meaning good and red (which looks black on printed paper) meaning very bad. If an organization's 2013 sales for the entire U.S. were $50 million and its 2012 U.S. sales were $30 million, what is the annual % sales change? A. 40% B. 67% C. 100% D. 125% E. 133%

Q: As a marketing term, __________ generally includes not only physical goods, but also services and ideas as well. A. marketing B. invention C. merchandise D. product E. concept

Q: Marketing dashboards are useful in measuring actual market performance versus the goals set in new-product planning, such as sales. Once shortfalls are identified, the first step would be to conduct market research to determine __________. A. how to change the promotional strategy B. whether the problem is internal or external to the organization C. whether to drop or keep the failing product or market D. whether to change the goal, and therefore, the marketing metric used to measure it E. if the numbers used for evaluation in the marketing dashboard are accurate

Q: A product is a good, service, or idea consisting of a(n) __________ that satisfy consumers' needs and is received in exchange for money or something else of value. A. promise or commitment exchanged between a seller and a buyer B. bundle of tangible and intangible attributes C. assortment of value-possessing activities D. array of physical attributes E. collection of tangible qualities

Q: If you are using a marketing dashboard to discover which cities in Florida are not meeting their sales growth goal for your sunscreen products, what marketing metric should be used to measure sales performance? A. every metric possible B. shelf space for this year and last year by city C. production costs D. customer psychographics E. annual percent sales change by city

Q: A product is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange A. only for legal tender (money). B. for providing value. C. only for barter. D. for a person's time and effort. E. for money or something else of value.

Q: One of the two ORGANIZATION-related problems of inertia that can cause new-product failures is __________. A. poor product quality B. encountering groupthink in task force and committee meetings C. poor execution of the marketing mix D. bad timing E. incomplete market and product protocol