Question 1

A concept test is an

Accepted Answer

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 finished 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.F) B) and C)
G) A) and B)

Question 2

During the first stage of the new-product development process, two important activities take place. They are

Accepted Answer

A)  a SWOT analysis and environmental scanning.
B)  open innovation and business analysis.
C)  concept testing and product forecasting.
D)  R&D and operations setup.
E)  environmental scanning and open innovation.F) B) and D)
G) A) and B)

Question 3

There are seven stages of the new-product development process. Stage 6 is the __________ stage.

Accepted Answer

A)  business analysis
B)  screening and evaluation
C)  market testing
D)  commercialization
E)  developmentF) A) and C)
G) B) and D)

Question 4

Among business products, support products include installations such as

Accepted Answer

A)  convenience products.
B)  buildings and fixed equipment.
C)  tools and office equipment.
D)  raw materials and component parts.
E)  maintenance, repair, and legal services.F) A) and C)
G) A) and B)

Question 5

All of the following are sources for new-product ideas except

Accepted Answer

A)  competitors.
B)  universities.
C)  regulators.
D)  suppliers.
E)  employees.F) B) and D)
G) A) and D)

Question 6

The emphasis of a marketing strategy for a discontinuous innovation would most likely be to

Accepted Answer

A)  generate awareness among consumers.
B)  advertise benefits to consumers that stress points of differentiation.
C)  educate consumers about new consumption patterns through personal selling.
D)  obtain widespread distribution in multiple channels.
E)  stress price differentials from competitors' products.F) A) and D)
G) B) and E)

Question 7

Which of the following firms uses crowdfunding to raise capital for products that are unlikely to get resources from traditional sources?

Accepted Answer

A)  IDEO
B)  Kickstarter.com
C)  Warren Buffet's Berkshire Hathaway
D)  The Industrial Design Group
E)  Unfundale.comF) A) and E)
G) C) and D)

Question 8

A prototype is a

Accepted Answer

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 or service 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.F) B) and C)
G) D) and E)

Question 9

Unsought products are

Accepted Answer

A)  any products associated with impulse buys at the supermarket checkout counter.
B)  products that were once very popular but that have become obsolete because they are in the decline stage of their product life cycle.
C)  items within a company's product line that do not perform as well as others in the line.
D)  products that the consumer does not know about or knows about but does not initially want.
E)  products that people choose to ignore because they find them offensive from a moral or ethical perspective.F) B) and E)
G) D) and E)

Question 10

Intangible items such as airline trips, financial advice, or telephone service that an organization provides to consumers are referred to as

Accepted Answer

A)  production goods.
B)  support products.
C)  services.
D)  goods.
E)  benefits.F) A) and B)
G) C) and E)

Question 11

Screening and evaluation refers to the stage of the new-product development 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.F) A) and E)
G) None of the above

Question 12

Items for which the consumer compares several alternatives on several criteria such as price, quality, or style are referred to as

Accepted Answer

A)  specialty products.
B)  selective products.
C)  shopping products.
D)  prestige products.
E)  convenience products.F) D) and E)
G) A) and B)

Question 13

Considering the classification of consumer products, which of the following products will have the most limited distribution?

Accepted Answer

A)  Secret antiperspirant
B)  Fuji disposable camera
C)  BP gasoline
D)  Marchesa wedding gown
E)  Sony HDTVF) A) and E)
G) A) and D)

Question 14

Installations are support products that include items such as

Accepted Answer

A)  copy paper, mechanical pencils, and lightbulbs.
B)  welding masks and computers.
C)  warehouses and automated assembly lines.
D)  lumber and engine parts.
E)  janitorial and legal services.F) A) and D)
G) B) and C)

Question 15

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?

Accepted Answer

A)  convenience product
B)  shopping product
C)  specialty product
D)  unsought product
E)  discretionary productF) C) and D)
G) B) and C)

Question 16

A product can be classified as new from all of the following perspectives except

Accepted Answer

A)  the organization's.
B)  existing offerings.
C)  legal.
D)  the firm's competitors.
E)  the consumer's.F) None of the above
G) B) and C)

Question 17

In which stage of the new-product development process is a SWOT analysis used to identify the strategic role the new product might serve in the firm's business portfolio?

Accepted Answer

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

Question 18

Which of the following is considered a durable good?

Accepted Answer

A)  silverware
B)  caviar
C)  marketing research
D)  chewing gum
E)  votingF) B) and E)
G) A) and D)

Question 19

With respect to promotion, which of the following strategies would most likely be used for unsought products?

Accepted Answer

A)  offering consumer and trade sales promotions
B)  establishing the uniqueness and status of the brand
C)  generating awareness
D)  differentiating the brand from competitive brands
E)  stressing price and availability in advertisingF) B) and E)
G) A) and C)

Question 20

A new-product or service protocol is

Accepted Answer

A)  the standardized procedures a firm follows for the inception, design, manufacturing, promotion, and distribution of a new product.
B)  a formalized statement of intent regarding what will be sold, to whom it will be sold, and by whom it will be sold.
C)  maintaining compliance with all licensing, manufacturing, and distribution standards established by the U.S. Federal Trade Commission (FT
C)  .
D)  a statement that identifies a well-defined target market, specific customers' needs, wants, and preferences, and what the product or service will be and do to satisfy consumers.
E)  the raw unwritten ideas to produce a single commercially successful new product.F) B) and D)
G) C) and D)

Exam 10: Developing New Products and Services

Which of the following is considered a durable good?

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Installations are support products that include items such as

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Which of the following firms uses crowdfunding to raise capital for products that are unlikely to get resources from traditional sources?

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A prototype is a

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Among business products, support products include installations such as

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With respect to promotion, which of the following strategies would most likely be used for unsought products?

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The emphasis of a marketing strategy for a discontinuous innovation would most likely be to

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A product can be classified as new from all of the following perspectives except

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A concept test is an

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During the first stage of the new-product development process, two important activities take place. They are

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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?

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

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All of the following are sources for new-product ideas except

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A new-product or service protocol is

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Items for which the consumer compares several alternatives on several criteria such as price, quality, or style are referred to as

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Unsought products are

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There are seven stages of the new-product development process. Stage 6 is the __________ stage.

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Considering the classification of consumer products, which of the following products will have the most limited distribution?

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Intangible items such as airline trips, financial advice, or telephone service that an organization provides to consumers are referred to as

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In which stage of the new-product development process is a SWOT analysis used to identify the strategic role the new product might serve in the firm's business portfolio?

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