1. The Apple II, Macintosh, MacBook Air, iPhone 3GS, iPod, and the iPad are all examples of a company's commitment to __________.
Answer: continuous innovation
2. Product refers to
Answer: 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.
3. 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 is referred to as __________.
Answer: a product
4. Consumer product classifications are based upon three variables: 1) effort the consumer spends on the decision, 2) frequency of purchase, and 3)
Answer: attributes used in making the purchase decision
5. A product is a good, service, or idea consisting of a bundle of tangible and intangible attributes that satisfies consumers' needs and is
Answer: received in exchange for money or something else of value.
7. Goods can be divided into __________ goods and __________ goods.
Answer: durable; nondurable
8. A nondurable good is defined as a(n)
Answer: item consumed in one or a few uses.
9. Which of the following is the best example of a nondurable good?
Answer: gasoline
10. which of he following is the example of a nondurable good?
Answer: LAUNDRY DETERGENT
11. Products that usually last over many uses, such as cars and appliances are referred to as
Answer: DURABLE GOODS
12. Which of the following is considered a durable good?
Answer: silverware
13. The division of products into durable and nondurable goods is to __________.
Answer: provide direction for marketing actions
14. Advertising is important for products such as Butterfinger candy bars and Dasani bottled water that is purchased frequently and at relatively low cost. Wide distribution in retail outlets is essential. Why?
Answer: They are nondurable goods and easily substitutable so consumers need to be reminded of their existence.
17. Which of the following would most likely be considered a consumer product?
Answer: suitcase
18. Business products are also referred to as __________ products
Answer: industrial
19. Business products are also referred to as __________.
Answer: B2B products
20. Business products refer to
Answer: products that organizations buy that assist in providing other products for resale.
21. Marissa, a college student and her father, a wealthy businessman, were each considering the purchase of a new automobile. As a college student with limited financial resources, Marissa went from car dealer to car dealer in several different cities searching for the lowest price on a new economy car. She devoted a great deal of time and energy to getting the best value for her money. Marissa's father, however, knew that he would buy another new car next year. Because it was convenient, he simply went to the local auto dealer and, with little thought or effort regarding the buying decision, bought the first luxury car that he saw. For Marissa, an automobile was a __________ good; for her father, a car was a __________.
Answer: shopping product; a convenience product
23. With respect to distribution, convenience products are available
Answer: on a widespread basis at many outlets.
24. Shopping products refer to
Answer: items for which the consumer compares several alternatives on several criteria such as price, quality, or style.
25. You decide to buy a new car. You talk to friends about it, research mechanical specifications in Consumer Reports, test drive different makes and models, and compare prices at several dealerships. Into which classification of consumer products would your new car purchase fall?
Answer: Shopping product
27. Which type of consumer product is purchased infrequently and takes an extensive amount of time to make the purchase decision and obtain the item?
Answer: specialty products
29. Distribution is very limited with which of the following types of consumer products?
Answer: specialty products
30. Unsought products are
Answer: products which the consumer does not know about, or knows about but does not initially want.
31. Which of the following is most likely to be an example of an unsought product?
Answer: cancer insurance
32. With respect to promotion, which of the following strategies would most likely be used for unsought products?
Answer: generating awareness
33. The elements that distinguish services from goods are the four I's, which are
Answer: intangibility, inconsistency, inseparability, and inventory.
34. Intangibility of services means
Answer: the services can't be seen or touched before the purchase decision
36. Before moving out of their apartment, Brad and Kim Westgate decided to have their carpets cleaned by Service Master, a company specializing in professional carpet cleaning. The carpet cleaners arrived at Brad and Kim's apartment, unpacked their equipment, cleaned the carpets, packed up their tools, and drove away in their bright yellow van. The service provided by Service Master, could not be held, touched, or seen before the purchase decision. This scenario illustrates the __________ of services.
Answer: Intangibility
38. Developing, pricing, promoting, and delivering services are challenging. Organizations attempts to reduce inconsistency through
Answer: providing standardization and training
39. Andrea Arena 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 themselves. One way she tries to ensure ___________ of services for her regular customers is to make sure that the same well-trained person is always assigned to work for them.
Answer: Consistency
41. Idle production capacity is
Answer: a situation where a service provider is available but there is no demand.
42. The inventory costs of services include:
Answer: salary of service provider and equipment costs.
43. A range of offerings from the tangible to the intangible or goods-dominant to the services-dominant is called the
Answer: goods-services continuum.
45. The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable. The Love Bandit Bear is one bear designed for people to give to each other on Valentine's Day. The Love Bandit Bear is an example of a
Answer: product item.
46. A group of products 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 __________.
Answer: product line
47. A product line is a group of products that are closely related because they satisfy a class of needs, are used together, __________, are distributed through the same type of outlets, or fall within a given price range.
Answer: are sold to the same customer group
48. Which of the following statements about product lines is most accurate?
Answer: A benefit of having a narrow product line is that it enables both consumers and retailers to simplify their buying decisions.
If I correctly understand the definitions of "broad" and "narrow" the correct answer does not seem to agree with the explanation:
Answer: An important benefit of having a broad product line is that it enables both consumers and retailers to simplify their buying decisions.
49. The proliferation of extra features that overwhelms many consumers with mind-boggling complexity is referred to as
Answer: feature bloat
50. 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
Answer: for the first six months that it was regularly available.
51. Although there are three levels of newness from the organization's perspective, there is a fourth way of viewing new products, and that is from the perspective of __________ which involves __________.
Answer: consumption; consumers
52. A product that requires no new behaviors be learned by consumers is a
Answer: continuous innovation.
53 At the time of its introduction, which of the following products was the best example of a continuous innovation?
Answer: Breathe Right nasal strips, a sticky strip that is worn across the nose at night to help people breathe
54. The emphasis of a marketing strategy for a continuous innovation concentrates on
Answer: advertising to generate awareness.
55. LG Electronics Inc. has entered into an agreement with Google to offer phones with Google software installed on them. This is an example of which type of innovation?
Answer: dynamically continuous innovation
56. The emphasis of a marketing strategy for a dynamically continuous innovation would include
Answer: advertising to explain product benefits and proper use
57. A product that establishes new consumption patterns among consumers is a
Answer: discontinuous innovation.
58. Napster was the first software that allowed an individual to easily search and swap MP3 musical files with other individuals. When it was introduced, it would have been an example of a
Answer: discontinuous innovation.
59. The emphasis of a marketing strategy for a discontinuous innovation would most likely be to
Answer: educate consumers about entirely new consumption patterns through product trial and personal selling.
60. Ideally, before a new product is developed, a firm should have a precise protocol, a statement that identifies: (1) a well-defined target market; ( 2) specific customers' needs, wants, and preferences; and (3)
Answer: what the product will be and do.
61. There are eight main reasons a new product can fail: (1) insignificant point of difference; (2) incomplete market and product protocol; (3) not satisfying customers on critical factors; (4) bad timing; (5) too little market attractiveness (6) poor product quality; and (7) poor execution of the marketing mix, and (8 ) __________.
Answer: no economical access to buyers
62. There are eight main reasons a new product can fail: (1) no economical access to buyers; (2); insignificant point of difference (3) incomplete market and product protocol; (4) not satisfying customers on critical factors; (5) too little market attractiveness (6) poor product quality; and (7) poor execution of the marketing mix, and (8 ) __________.
Answer: bad timing
64. Which of the following is an example of an organizational problem that can cause a new product failure?
Answer: Not really listening to the voice of the consumer.
65. The seven stages an organization goes through to identify business opportunities and convert them to a salable product or service is referred to as the __________.
Answer: new-product process
66. The new-product process an organization goes through to identify business opportunities and convert them to a salable good or service contains
Answer: seven stages from new product strategy development to commercialization.
69. During the first stage of the new-product process, two important activities take place.They are
Answer: SWOT analysis and environment scanning
70. The stage of the new-product process that involves developing a pool of concepts to serve as candidates for new-products is referred to as __________.
Answer: idea generation
71.Many forward-looking companies have discovered that their own organization is not generating enough useful new-product ideas. This has led to finding and executing creative new product ideas by developing strategic relationships with outside individuals and organizations referred to as __________.
Answer: open innovation
74. For six months, the Marriott Corporation sent a six-person intelligence team to travel and stay at economy hotels around the country. The purpose of this was
Answer: to collect ideas from competitors' strengths and weaknesses that could be used in their own new-product development process
75. The stage of the new-product process that internally and externally evaluates new-product ideas to eliminate those that warrant no further effort is referred to as __________.
Answer: screening and evaluation
77. An external evaluation that consists of preliminary testing of a new-product idea (rather than the actual product) with consumers is referred to as
Answer: a concept test.
78. Concept tests are part of which stage in the new product process?
Answer: screening and evaluation
79. The stage of the new product process that specifies the features of the product and the marketing strategy needed to bring it to market and make financial projections is referred to as
Answer: business analysis.
80. In the new-product process, product ideas that survive the business analysis proceed to actual __________.
Answer: development
81. The stage of the new-product process that involves exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy is referred to as
Answer: market testing
82. Test marketing involves offering a product for sale
Answer: on a limited basis in a defined area.
83. The stage of the new-product process that positions and launches a new product in full-scale product and sales refers to __________.
Answer: commercialization
84. The most expensive stage for most new products is
Answer: commercialization
The first stage in the new-product process is
Answer: new-product strategy development.
IDEO is a company that
Answer: develops and designs new products for other organizations.
