Question 1

IDEO is a company that

Accepted Answer

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.

Question 2

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

Accepted Answer

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

Question 3

Among business products, which of the following would most likely be considered supplies?

Accepted Answer

A)  photocopier
B)  sheet rock
C)  ink-jet printer cartridges
D)  cleaning service
E)  concert hall chairs

Question 4

Which of the following is considered a service?

Accepted Answer

A)  lamp
B)  motorcycle
C)  potato chips
D)  a marketing class
E)  environmentalism

Question 5

The most expensive stage in the new-product process for most products and services is

Accepted Answer

A)  commercialization.
B)  screening and evaluation.
C)  business analysis.
D)  development.
E)  market testing.

Question 6

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.

Question 7

A few years ago, Frito-Lay developed Frito-Lay Lemonade as a thirst-quencher for those consumers who also like Frito-Lay's salty snacks such as Fritos corn chips. But when people think of the brand name Frito-Lay, thirst-quenching is not a benefit that comes to mind and Frito-Lay Lemonade failed. This innovation strategy is known as a

Accepted Answer

A)  brand extension.
B)  radical invention.
C)  product line extension.
D)  disruptive innovation.
E)  product deletion.

Question 8

Using an existing brand name to introduce a product that is new to the company into a totally new, unfamiliar product category seems like a good idea. This is what Cosmopolitan, purveyor of fashion magazines, did when it introduced its own __________, which failed quickly.

Accepted Answer

A)  aspirin
B)  yogurt
C)  disposable underwear
D)  soda (soft drink) 
E)  perfume

Question 9

Which of the following statements regarding goods is most accurate?

Accepted Answer

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.

Question 10

Which of the following are key dimensions of service quality that might be used to perform a gap analysis for airline travel?

Accepted Answer

A)  gap analysis, intangibility, and reliability
B)  respect, diligence, and honesty
C)  honesty, intangibility, and diligence
D)  alacrity, fairness, and product knowledge
E)  reliability, tangibility, and responsiveness

Question 11

Services incorporate the four I's of product marketing. How would each of these four elements apply to a stock brokerage service?

Accepted Answer

The four unique elements of services are...

Question 12

-Figure 9-5 above represents the seven stages of the new-product development process. Stage 7 is the __________ stage.

Accepted Answer

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

Question 13

The two main classifications of business products are

Accepted Answer

A)  durable and nondurable products.
B)  components and support products.
C)  tangible and intangible products.
D)  consumer and industrial products.
E)  derived and maintenance products.

Question 14

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

Accepted Answer

A)  open innovation
B)  screening and evaluation
C)  product development
D)  new-product strategy development
E)  idea generation

Question 15

Heavy-duty Rayovac flashlights are sold to consumers throughout the United States. However, Philips manufactures the bulbs used in Rayovac flashlights. The quantity of bulbs Philips makes is related to how many flashlights Rayovac sells. This is an example of

Accepted Answer

A)  a tying arrangement.
B)  reciprocity.
C)  strategic alliance demand.
D)  relationship marketing.
E)  derived demand.

Question 16

The new-product process an organization goes through to identify business opportunities and convert them into salable products or services contains

Accepted Answer

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.

Question 17

The first stage of the new-product process is

Accepted Answer

A)  idea generation.
B)  screening and evaluation.
C)  business analysis.
D)  new-product strategy development.
E)  concept testing.

Question 18

Andrea Arenas is the owner of 2 Places at 1 Time, a concierge company. She and her staff of 60 perform everyday services such as walking the dog, picking up cleaning, waiting for the repairman, and going to the post office for people who are too busy to perform these simple acts. She has often been hired by major corporations to perform services for their harried executives, and even other employees. Her staff is overworked and she will soon hire more employees to fill demand. Arenas is not currently experiencing __________; in fact, all of her employees and equipment are fully being used.

Accepted Answer

A)  off-peak pricing
B)  idle production capacity
C)  static demand
D)  capacity marketing
E)  capacity inventory

Question 19

-Figure 9-5 above represents the seven stages of the new-product development process. Stage 5 is the __________ stage.

Accepted Answer

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

Question 20

The initial target market for X-1 products consisted of __________.

Accepted Answer

A)  seniors who want easy-to-use TV remotes with large buttons
B)  athletes who want waterproof, sweatproof, and weatherproof audio equipment
C)  audiophiles who want HD Sirius/XM Satellite radio receivers in their homes
D)  consumers who want an inexpensive MP3 player like the old Sony Walkman
E)  smartphone users who want a "plug-in" device that lets them listen to AM radio on their smartphone

Exam 9: Developing New Products and Services

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

Correct Answer
verified

Which of the following are key dimensions of service quality that might be used to perform a gap analysis for airline travel?

Correct Answer
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-Figure 9-5 above represents the seven stages of the new-product development process. Stage 5 is the __________ stage.

Correct Answer
verified

The initial target market for X-1 products consisted of __________.

Correct Answer
verified

Which of the following statements regarding goods is most accurate?

Correct Answer
verified

The most expensive stage in the new-product process for most products and services is

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

Heavy-duty Rayovac flashlights are sold to consumers throughout the United States. However, Philips manufactures the bulbs used in Rayovac flashlights. The quantity of bulbs Philips makes is related to how many flashlights Rayovac sells. This is an example of

Correct Answer
verified

-Figure 9-5 above represents the seven stages of the new-product development process. Stage 7 is the __________ stage.

Correct Answer
verified

Among business products, which of the following would most likely be considered supplies?

Correct Answer
verified

IDEO is a company that

Correct Answer
verified

Using an existing brand name to introduce a product that is new to the company into a totally new, unfamiliar product category seems like a good idea. This is what Cosmopolitan, purveyor of fashion magazines, did when it introduced its own __________, which failed quickly.

Correct Answer
verified

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

Correct Answer
verified

The first stage of the new-product process is

Correct Answer
verified

Services incorporate the four I's of product marketing. How would each of these four elements apply to a stock brokerage service?

Correct Answer
verified
The four unique elements of services are...
View Answer

The two main classifications of business products are

Correct Answer
verified

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

Correct Answer
verified

Which of the following is considered a service?

Correct Answer
verified

The new-product process an organization goes through to identify business opportunities and convert them into salable products or services contains

Correct Answer
verified

Exam 9: Developing New Products and Services

Developing a pool of concepts to serve as candidates for new products is the __________ stage of the new-product process.

Correct AnswerverifiedShow Answer

Which of the following are key dimensions of service quality that might be used to perform a gap analysis for airline travel?

Correct AnswerverifiedShow Answer

-Figure 9-5 above represents the seven stages of the new-product development process. Stage 5 is the __________ stage.

Correct AnswerverifiedShow Answer

The initial target market for X-1 products consisted of __________.

Correct AnswerverifiedShow Answer

Which of the following statements regarding goods is most accurate?

Correct AnswerverifiedShow Answer

The most expensive stage in the new-product process for most products and services is

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

Heavy-duty Rayovac flashlights are sold to consumers throughout the United States. However, Philips manufactures the bulbs used in Rayovac flashlights. The quantity of bulbs Philips makes is related to how many flashlights Rayovac sells. This is an example of

Correct AnswerverifiedShow Answer

-Figure 9-5 above represents the seven stages of the new-product development process. Stage 7 is the __________ stage.

Correct AnswerverifiedShow Answer

Among business products, which of the following would most likely be considered supplies?

Correct AnswerverifiedShow Answer

IDEO is a company that

Correct AnswerverifiedShow Answer

Using an existing brand name to introduce a product that is new to the company into a totally new, unfamiliar product category seems like a good idea. This is what Cosmopolitan, purveyor of fashion magazines, did when it introduced its own __________, which failed quickly.

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

The first stage of the new-product process is

Correct AnswerverifiedShow Answer

Services incorporate the four I's of product marketing. How would each of these four elements apply to a stock brokerage service?

Correct AnswerverifiedThe four unique elements of services are...View AnswerShow Answer

The two main classifications of business products are

Correct AnswerverifiedShow Answer

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

Correct AnswerverifiedShow Answer

Which of the following is considered a service?

Correct AnswerverifiedShow Answer

The new-product process an organization goes through to identify business opportunities and convert them into salable products or services contains

Correct AnswerverifiedShow Answer

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Correct Answer
verified
The four unique elements of services are...
View Answer

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