Question 1

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 productsF) C) and E)
G) A) and E)

Question 2

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) A) and B)
G) None of the above

Question 3

An external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual product is referred to as

Accepted Answer

A)  new-product strategy development.
B)  idea generation.
C)  crowdsourcing.
D)  market testing.
E)  a concept test.F) A) and B)
G) B) and D)

Question 4

Among business products,printer paper would be classified as which type of support product?

Accepted Answer

A)  installations
B)  accessory equipment
C)  supplies
D)  industrial services
E)  raw materialsF) A) and D)
G) D) and E)

Question 5

Idea generation is the stage in the new-product process that

Accepted Answer

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.F) A) and D)
G) A) and B)

Question 6

Wrigley's new Alert Energy Caffeine Gum "offers a portable solution that lets adults control their caffeine intake." This new gum is MOST LIKELY which type of innovation?

Accepted Answer

A)  continuous innovation
B)  dynamically continuous innovation
C)  discontinuous innovation
D)  insignificant innovation
E)  disruptive innovationF) All of the above
G) C) and D)

Question 7

Which of the following would most likely be considered a consumer product?

Accepted Answer

A)  bricks
B)  cotton fiber
C)  printing press
D)  suitcases
E)  mainframe computerF) B) and E)
G) None of the above

Question 8

Figure 10-3 above represents the seven stages of the new-product development process.Stage 4 is the __________ stage.

Accepted Answer

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

Question 9

Variations of a product (shape,configuration) within a product class are referred to as a/the

Accepted Answer

A)  product form.
B)  product item.
C)  product line.
D)  product class.
E)  product mix.F) A) and D)
G) A) and E)

Question 10

Installations are support products that include items such as

Accepted Answer

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

Question 11

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 (the 3,000 tiny little "fingers") technology to

Accepted Answer

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.F) D) and E)
G) A) and E)

Question 12

Prego recently introduced a Pasta Bake Sauce,which was made so that it was not necessary to precook the pasta before blending pasta,sauce,meat,and cheese in a casserole.Legally,this product would only be considered new

Accepted Answer

A)  for the first six months that it was regularly available at a variety of grocery stores.
B)  until a competitor like Ragu had issued a similar product targeted to the same market.
C)  as long it retained these exact product characteristics.
D)  if it was functionally the same as its salsa sauce.
E)  until its advertising had been seen by every member of its target audience.F) None of the above
G) A) and C)

Question 13

Ideally,before a new product or service is developed,a firm should have a precise __________,which is a statement that identifies: (1) a well-defined target market; (2) specific customers' needs,wants,and preferences;and (3) what the product or service will be and do to satisfy consumers.

Accepted Answer

A)  formula
B)  contract
C)  modus operandi
D)  protocol
E)  methodologyF) C) and D)
G) B) and D)

Question 14

A product refers to

Accepted Answer

A)  a tangible good received in exchange for a person's time and effort.
B)  intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.
C)  a good that has in some way been altered,combined,or improved and sold to organizational buyers.
D)  is a thought that leads to an action such as a concept for a new invention.
E)  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.F) C) and E)
G) A) and D)

Question 15

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.

Accepted Answer

A)  crowdfunding
B)  crowdsourcing
C)  open sourcing
D)  venture capital
E)  online bankingF) B) and D)
G) A) and B)

Question 16

The type of business products known as support products includes installations,industrial services,accessory equipment,and __________.

Accepted Answer

A)  components
B)  supplies
C)  materials
D)  derived products
E)  complementary productsF) A) and E)
G) All of the above

Question 17

Which of the following is considered a service?

Accepted Answer

A)  online banking
B)  silverware
C)  washing machine
D)  chewing gum
E)  freedomF) A) and B)
G) A) and C)

Question 18

Parallel development is the simultaneous development of both

Accepted Answer

A)  the product and promotion strategies.
B)  production and financing tactics.
C)  the product and the production process.
D)  production and selling methodologies.
E)  R&D and financial analysis.F) A) and B)
G) B) and E)

Question 19

Factors such as specifying product features,marketing strategy,and financial projections are a part of which stage of the new-product process?

Accepted Answer

A)  idea generation
B)  market testing
C)  development
D)  commercialization
E)  business analysisF) A) and D)
G) A) and E)

Question 20

Installations,accessory equipment,supplies,and industrial services used to assist in producing other products and services are referred to as __________.

Accepted Answer

A)  components
B)  parts
C)  production goods
D)  raw materials
E)  support productsF) A) and B)
G) B) and D)

Exam 10: Developing New Products and Services

Variations of a product (shape,configuration) within a product class are referred to as a/the

Correct AnswerverifiedShow Answer

Idea generation is the stage in the new-product process that

Correct AnswerverifiedShow Answer

Which of the following would most likely be considered a consumer product?

Correct AnswerverifiedShow Answer

Prego recently introduced a Pasta Bake Sauce,which was made so that it was not necessary to precook the pasta before blending pasta,sauce,meat,and cheese in a casserole.Legally,this product would only be considered new

Correct AnswerverifiedShow Answer

Which of the following is considered a service?

Correct AnswerverifiedShow Answer

Factors such as specifying product features,marketing strategy,and financial projections are a part of which stage of the new-product process?

Correct AnswerverifiedShow Answer

An external evaluation with consumers that consists of preliminary testing of a new-product idea rather than the actual product is referred to as

Correct AnswerverifiedShow Answer

Installations are support products that include items such as

Correct AnswerverifiedShow Answer

Installations,accessory equipment,supplies,and industrial services used to assist in producing other products and services are referred to as __________.

Correct AnswerverifiedShow Answer

Unsought products are

Correct AnswerverifiedShow Answer

Parallel development is the simultaneous development of both

Correct AnswerverifiedShow Answer

A product refers to

Correct AnswerverifiedShow Answer

The type of business products known as support products includes installations,industrial services,accessory equipment,and __________.

Correct AnswerverifiedShow Answer

Wrigley's new Alert Energy Caffeine Gum "offers a portable solution that lets adults control their caffeine intake." This new gum is MOST LIKELY which type of innovation?

Correct AnswerverifiedShow Answer

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.

Correct AnswerverifiedShow Answer

Figure 10-3 above represents the seven stages of the new-product development process.Stage 4 is the __________ stage.

Correct AnswerverifiedShow Answer

Ideally,before a new product or service is developed,a firm should have a precise __________,which is a statement that identifies: (1) a well-defined target market; (2) specific customers' needs,wants,and preferences;and (3) what the product or service will be and do to satisfy consumers.

Correct AnswerverifiedShow Answer

Among business products,printer paper would be classified as which type of support product?

Correct AnswerverifiedShow Answer

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 (the 3,000 tiny little "fingers") technology to

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

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