Question 1

The stage of the new-product development process that turns an idea on paper into a prototype is referred to as

Accepted Answer

A)   idea generation.
B)   screening and evaluation.
C)   business analysis.
D)   commercialization.
E)   development.F) A) and E)
G) B) and C)

Question 2

In marketing, ________ is a thought that leads to a product or action.

Accepted Answer

A)   an observation
B)   an inspiration
C)   an experiment
D)   an idea
E)   a perceptionF) A) and E)
G) A) and C)

Question 3

There are seven stages of the new-product development process. Stage 3 follows idea generation; it is the ________ stage.

Accepted Answer

A)   tactic generation
B)   screening and evaluation
C)   screening and analysis
D)   new-product strategy development
E)   product assessmentF) A) and B)
G) D) and E)

Question 4

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, are distributed through the same types of outlets, or fall within a given price range is referred to as a

Accepted Answer

A)   product class.
B)   product mix.
C)   product category.
D)   marketing category.
E)   product line.F) C) and E)
G) None of the above

Question 5

Among business products, which of these would most likely be considered accessory equipment?

Accepted Answer

A)   copper wiring
B)   a factory
C)   a cleaning service
D)   pneumatic nail gun
E)   ink-jet printer cartridgesF) B) and C)
G) All of the above

Question 6

Describe the ways services can be classified.

Accepted Answer

Services can be classified three ways ba...

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)   Unfundable.comF) A) and D)
G) A) and E)

Question 8

There are seven stages of the new-product development process. Following the new-product strategy development stage is the second step, known as

Accepted Answer

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

Question 9

There are seven stages of the new-product development process. The stage of the new-product development process that defines the role for a new product in terms of the firm's overall objectives is the ________ stage.

Accepted Answer

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

Question 10

Development is the stage of the new-product development process in which

Accepted Answer

A)   initial ideas are generated and discussed.
B)   an idea on paper is turned into a prototype.
C)   product characteristics and product benefits are selected.
D)   cross-functional team members and leaders are selected and initial tasks are assigned.
E)   the first version of a product enters the marketplace.F) B) and C)
G) A) and B)

Question 11

From an organization's perspective regarding its new products and innovations, which of the following new-product strategies has the lowest level of risk?

Accepted Answer

A)   a radical invention
B)   a brand extension
C)   a product line extension
D)   a jump in innovation
E)   a product diversificationF) C) and D)
G) D) and E)

Question 12

________ are items that become part of the final business product.

Accepted Answer

A)   Components
B)   Accessories
C)   Support products
D)   Production goods
E)   Raw assembliesF) C) and D)
G) A) and B)

Question 13

What categories of products are classified as business support products? Give an example of each.

Accepted Answer

Business support products include instal...

Question 14

Groupthink occurs in a new product planning process when

Accepted Answer

A)   everyone has an opinion, but no one is willing to take charge and guide the discussion.
B)   everyone has the same idea after using the brainstorming idea-generation technique.
C)   there is too much competition among marketing managers, so no one is willing to share his or her ideas.
D)   someone suspects a problem with a product concept but is afraid to speak up because everyone else is so enthusiastic.
E)   top management wants the new product to go forward regardless of what anyone else thinks.F) A) and E)
G) B) and D)

Question 15

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 SKU.
D)   marketing mix.
E)   target mix.F) B) and E)
G) B) and D)

Question 16

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. At that time, Breyer's new product was in the ________ stage of the new-product development process.

Accepted Answer

A)   commercialization
B)   screening and evaluation
C)   business analysis
D)   development
E)   market testingF) B) and D)
G) D) and E)

Question 17

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

Accepted Answer

A)   notebook paper
B)   skateboard
C)   insurance
D)   smartphone
E)   laser surgeryF) B) and D)
G) A) and D)

Question 18

Which of these is an example of a product line?

Accepted Answer

A)   Listerine Total Care Anticavity mouthwash
B)   Zephyrhills natural spring water in eight-ounce bottles
C)   The Yellow Pages for Gainesville, Florida
D)   Alex and Ani bracelets
E)   Samsung Galaxy S10 smartphoneF) All of the above
G) A) and D)

Question 19

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.

Accepted Answer

A)   look like
B)   cost them
C)   do for them
D)   feel like
E)   consist of in terms of new featuresF) All of the above
G) None of the above

Question 20

Research shows that while feature bloat can increase the capability of a new product and encourage a purchase,

Accepted Answer

A)   consumers are unable to articulate their reasons for purchase, which limits positive word of mouth.
B)   few brands take advantage of the opportunity to improve their offerings.
C)   there is typically such a large increase in price that few buyers respond.
D)   competitors typically respond so quickly that there is little impact on sales.
E)   the actual usage experience after purchase results in consumer dissatisfaction, or feature fatigue.F) B) and E)
G) C) and E)

Exam 10: Developing New Products and Services

From an organization's perspective regarding its new products and innovations, which of the following new-product strategies has the lowest level of risk?

Correct AnswerverifiedShow Answer

________ are items that become part of the final business product.

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There are seven stages of the new-product development process. Stage 3 follows idea generation; it is the ________ stage.

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Which of these is an example of a product line?

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Describe the ways services can be classified.

Correct AnswerverifiedServices can be classified three ways ba...View AnswerShow Answer

Correct AnswerverifiedShow Answer

There are seven stages of the new-product development process. Following the new-product strategy development stage is the second step, known as

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The stage of the new-product development process that turns an idea on paper into a prototype is referred to as

Correct AnswerverifiedShow Answer

Research shows that while feature bloat can increase the capability of a new product and encourage a purchase,

Correct AnswerverifiedShow Answer

In marketing, ________ is a thought that leads to a product or action.

Correct AnswerverifiedShow Answer

There are seven stages of the new-product development process. The stage of the new-product development process that defines the role for a new product in terms of the firm's overall objectives is the ________ stage.

Correct AnswerverifiedShow Answer

What categories of products are classified as business support products? Give an example of each.

Correct AnswerverifiedBusiness support products include instal...View AnswerShow Answer

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

Correct AnswerverifiedShow Answer

Among business products, which of these would most likely be considered accessory equipment?

Correct AnswerverifiedShow Answer

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, are distributed through the same types of outlets, or fall within a given price range is referred to as a

Correct AnswerverifiedShow Answer

Development is the stage of the new-product development process in which

Correct AnswerverifiedShow Answer

Groupthink occurs in a new product planning process when

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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Services can be classified three ways ba...
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Business support products include instal...
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