Question 1

_____ are unique purchases made based on a defining characteristic for the consumer.The characteristic might be a real or perceive product feature such as Apple iPhone's easy user interface.

Accepted Answer

A)  Shopping goods
B)  Convenience goods
C)  Specialty goods
D)  Unsought goods
E)  None of theseF) C) and E)
G) B) and C)

Question 2

Companies translate the essential benefit into physical,tangible elements known as the _________.

Accepted Answer

A)  Augmented product
B)  Core product
C)  Deviated product
D)  Differentiated product
E)  Contrasting productF) D) and E)
G) A) and E)

Question 3

An important issue for consumers is conformance,which is the product's ability _________.

Accepted Answer

A)  To deliver on features and performance characteristics promised in marketing communications
B)  To conform to the standards set by the federal guidelines
C)  To deliver value in the form of product quality
D)  To get the manufacturing aligned using quality processes
E)  All of theseF) All of the above
G) B) and C)

Question 4

The business case analysis stage is important because ________.

Accepted Answer

A)  Not a lot of money has been spent on the new product until this point of the new-product development process
B)  It represents another low-cost analysis prior to developing a prototype product
C)  The firm has already decided to take this product to the market and this analysis must confirm this action
D)  A, B, and C
E)  None of theseF) C) and E)
G) B) and E)

Question 5

Time to market is a term that means _________.

Accepted Answer

A)  This is the best time to market this new product
B)  It is time that the company had an entry into a particular market segment
C)  How long it will take to develop and get the product to market
D)  How long it will take to get the product through the introduction stage to the growth stage
E)  None of theseF) B) and E)
G) A) and B)

Question 6

Laggards are people in the adoption process who _________.

Accepted Answer

A)  Purchase during the maturation stage
B)  Put off purchasing until there is no other option
C)  Are price-sensitive and look for simplified products
D)  Buy the product used because it lacks interest to them
E)  All of theseF) A) and E)
G) A) and C)

Question 7

Many times customers provide ideas to salespeople,customer service representatives,and other direct customer contact people in the firm.These type of inside people and customers are generally good at generating ideas that are ________.

Accepted Answer

A)  Game-changing products
B)  Innovative leaps in design
C)  Incremental changes to existing products
D)  Challenging for R&D due to their aggressive nature
E)  None of theseF) A) and B)
G) A) and C)

Question 8

Market testing can take a long time,and this can result in ________.

Accepted Answer

A)  Competitors being able to develop marketing strategies to counter a product launch
B)  The company losing the excitement of a new product
C)  Competitors being able to sabotage the firm's efforts
D)  Online guerrilla tactics by competitors that will disrupt the sales cycle of the product
E)  None of theseF) A) and E)
G) A) and D)

Question 9

Today many tangible products have a component that impacts the customer's satisfaction before and after the purchase.This component that complements the tangible aspects of the product is called __________.

Accepted Answer

A)  Physical aspects
B)  Supply chain
C)  Monetary characteristics
D)  Intangible characteristics
E)  Total emergenceF) C) and D)
G) A) and E)

Question 10

New-to-the-world products are products that _______.

Accepted Answer

A)  Have been available before but are recycled
B)  Are innovative but only slightly different than previous products
C)  Have not been available before their introduction to the market
D)  Are not disruptive to the marketplace
E)  None of theseF) D) and E)
G) A) and B)

Question 11

When a company creates a product that extends,enhances,and encourages the customer beyond delivering its core,this concept is called _______.

Accepted Answer

A)  Product extension
B)  Product deviation
C)  Product subordination
D)  Product clustering
E)  Product enhancementF) B) and D)
G) A) and C)

Question 12

Style is very difficult to assess.Firms do not use style often in as much as it is easy to copy.

Accepted Answer

A) True 
 B)False

Question 13

When new-to-the-world products are better,faster versions of existing products that target,for the most part,existing customers,it is said that these products are ___________.

Accepted Answer

A)  Neo innovations
B)  Subtle innovations
C)  Left-handed innovations
D)  Sustaining innovations
E)  None of theseF) B) and C)
G) C) and D)

Question 14

Products that start poorly in a product launch __________.

Accepted Answer

A)  Seldom recover from the poor launch
B)  Recover readily through increased marketing effort
C)  Have a life cycle that looks very elastic
D)  Have a knack for being the market leader through slow but steady growth
E)  None of theseF) None of the above
G) A) and B)

Question 15

When products like cell phones have been aimed as a safety device for working women and moms,one way to find "new" markets is to _________.

Accepted Answer

A)  Add features to the phones
B)  Sell added benefits to the existing customers
C)  Reposition the existing products to new markets
D)  Alter the billing so more people can afford the product
E)  All of theseF) C) and E)
G) A) and B)

Question 16

The innovation diffusion process __________.

Accepted Answer

A)  Is how long it takes a product to move from introduction to growth
B)  Is how long it takes a product to move from awareness to interest
C)  Is how long it takes a product to move from trial to adoption
D)  Is how long it takes a product to move from first purchase to last purchase
E)  None of theseF) A) and D)
G) B) and D)

Question 17

Product life cycle (PLC)includes four basic stages: introduction,growth,maturity,and decline.

Accepted Answer

A) True 
 B)False

Question 18

Luxury cars such as the Chevrolet Corvette are available with tires that enable the driver to continue driving even after the tire has been damaged.This is an example of Corvette using style as a differentiator.

Accepted Answer

A) True 
 B)False

Question 19

Companies often use features to differentiate themselves from competitors.However,a company must balance the features customers want with __________.

Accepted Answer

A)  What the competition is doing
B)  The ability to manufacture the feature in a timely way
C)  What they will pay at a given quality level
D)  The configurations that make a positive brand look stylish
E)  None of theseF) A) and B)
G) A) and C)

Question 20

The essential benefit is the fundamental need met by the product.

Accepted Answer

A) True 
 B)False

Exam 7: Product Strategy and New-Product Development

When new-to-the-world products are better,faster versions of existing products that target,for the most part,existing customers,it is said that these products are ___________.

Correct AnswerverifiedShow Answer

Companies often use features to differentiate themselves from competitors.However,a company must balance the features customers want with __________.

Correct AnswerverifiedShow Answer

The essential benefit is the fundamental need met by the product.

Correct AnswerverifiedShow Answer

Market testing can take a long time,and this can result in ________.

Correct AnswerverifiedShow Answer

Many times customers provide ideas to salespeople,customer service representatives,and other direct customer contact people in the firm.These type of inside people and customers are generally good at generating ideas that are ________.

Correct AnswerverifiedShow Answer

Style is very difficult to assess.Firms do not use style often in as much as it is easy to copy.

Correct AnswerverifiedShow Answer

_____ are unique purchases made based on a defining characteristic for the consumer.The characteristic might be a real or perceive product feature such as Apple iPhone's easy user interface.

Correct AnswerverifiedShow Answer

Companies translate the essential benefit into physical,tangible elements known as the _________.

Correct AnswerverifiedShow Answer

Luxury cars such as the Chevrolet Corvette are available with tires that enable the driver to continue driving even after the tire has been damaged.This is an example of Corvette using style as a differentiator.

Correct AnswerverifiedShow Answer

Laggards are people in the adoption process who _________.

Correct AnswerverifiedShow Answer

Today many tangible products have a component that impacts the customer's satisfaction before and after the purchase.This component that complements the tangible aspects of the product is called __________.

Correct AnswerverifiedShow Answer

Time to market is a term that means _________.

Correct AnswerverifiedShow Answer

New-to-the-world products are products that _______.

Correct AnswerverifiedShow Answer

The business case analysis stage is important because ________.

Correct AnswerverifiedShow Answer

When a company creates a product that extends,enhances,and encourages the customer beyond delivering its core,this concept is called _______.

Correct AnswerverifiedShow Answer

The innovation diffusion process __________.

Correct AnswerverifiedShow Answer

An important issue for consumers is conformance,which is the product's ability _________.

Correct AnswerverifiedShow Answer

Products that start poorly in a product launch __________.

Correct AnswerverifiedShow Answer

Product life cycle (PLC)includes four basic stages: introduction,growth,maturity,and decline.

Correct AnswerverifiedShow Answer

When products like cell phones have been aimed as a safety device for working women and moms,one way to find "new" markets is to _________.

Correct AnswerverifiedShow Answer

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