Question 1

Sara's parents will be celebrating their fiftieth wedding anniversary. Sara is planning to have the party catered. The catering is considered
a specialty service.
a convenience good.
a specialty good.
a shopping good.
a shopping service.

Accepted Answer

The answer of Sara's parents will be celebrating their fiftieth...

Question 2

Diamond rings, Rolex watches, Godiva chocolates, and Rolls Royces are examples of
a product mix.
convenience goods.
shopping goods.
a product line.
specialty goods.

Accepted Answer

The answer of Diamond rings, Rolex watches, Godiva chocolates, and...

Question 3

Why are businesses interested in the development of new products?
The federal government encourages every product manufacturer to spend 1% of revenue on new product development.
New products are necessary to stay in business.
New products keep the warranty and service departments busy.
New products provide the fun that marketing managers need.
Product development provides an opportunity for large tax write-offs.

Accepted Answer

The answer of Why are businesses interested in the development...

Question 4

Bread is an example of a(n) _____________, while the catering for a wedding reception is an example of a(n) _____________.
shopping good; shopping service
convenience good; specialty good
specialty good; specialty service
convenience good; specialty service
shopping good; shopping good

Accepted Answer

The answer of Bread is an example of a(n) _____________,...

Question 5

Which of the following is correct with regard to the concept of a "product"?
The product is made up of the visible features and benefits.
When consumers buy a product, they are also buying an image and a reputation.
Products are normally classified into two basic groups: those that are consumed in a short period of time and those that last a long time.
The value package is the objective features of the product.
For a computer, most items in the value package are tangible.

Accepted Answer

The answer of Which of the following is correct with...

Question 6

What is the purpose of the screening stage of the product development process?
To identify potential production problems
To identify the benefits which consumers want
To actively seek out ideas for new products
To eliminate all ideas that do not mesh with the firm's objectives, abilities, or expertise
To compare costs and benefits of the proposed product

Accepted Answer

The answer of What is the purpose of the screening...

Question 7

You are asked to come up with a new widget. What would your first step be?
Idea screening
Idea generation
Commercialization
Business analysis
Test marketing

Accepted Answer

The answer of You are asked to come up with...

Question 8

Suppose you work for a firm that manufactures and sells pet accessories. As part of your job, you frequently visit city parks and observe how people interact with their pets. You also talk to the staff members of veterinary clinics to discover how people relate to their pets. This activity is consistent with the ________ phase of new product development.
idea generation
business analysis
prototype development
screening
product testing

Accepted Answer

The answer of Suppose you work for a firm that...

Question 9

Ford offers four different models of the Escort which run the gamut from the three-door sport model to the five-door sedan. This represents
a product offering.
multiple product lines.
a product line.
a product blend.
a product mix.

Accepted Answer

The answer of Ford offers four different models of the...

Question 10

Light bulbs, pencils, pads of paper, and lubricating oils for machines are examples of ________ purchased by companies that make other goods.
capital items
fixed expense goods
expense items
depreciation goods
impulse items

Accepted Answer

The answer of Light bulbs, pencils, pads of paper, and...

Question 11

Buildings, manufacturing equipment, computers, and desks are examples of ________ purchased by companies that make other goods.
impulse items
capital items
current expenses
fixed expenses
expense items

Accepted Answer

The answer of Buildings, manufacturing equipment, computers, and desks are...

Question 12

Mirror Corp. has just completed the "screening" phase of the new product development process. What should they do next?
Use input from the concept-testing phase to produce a preliminary version of the product.
Conduct market research to solicit consumers' input about the benefits the proposed product must provide for consumers.
Eliminate all product ideas that do not mesh with the firm's abilities, expertise, or objectives.
Begin limited production of the product.

Accepted Answer

The answer of Mirror Corp. has just completed the "screening"...

Question 13

Which of the following is correct regarding the product mix and product line concepts?
A product line is broader than a product mix.
The product mix refers to the group of products a company has available for sale.
The product line concept applies to physical products, while the product mix concept applies only to services.
A product line focuses on convenience goods, while a product mix focuses on shopping goods.
A product line is almost always more expensive than a product mix.

Accepted Answer

The answer of Which of the following is correct regarding...

Question 14

Pencils, brooms, and gloves are examples of ________, while factories, water towers, and airplanes are examples of __________.
capital items; expense items
supplies; installations
services; capital items
expense items; capital items
capital items; supplies

Accepted Answer

The answer of Pencils, brooms, and gloves are examples of...

Question 15

In which stage of the new product development process is a preliminary version of the product produced?
Product test run
Screening
Prototype development
Concept testing
Test marketing

Accepted Answer

The answer of In which stage of the new product...

Question 16

Coffee, potato chips, newspapers, bread, and AA batteries are examples of ________, while stereos and tires are examples of _____________.
shopping goods; shopping services
convenience goods; shopping goods
specialty goods; specialty services
convenience goods; specialty services
shopping goods; shopping goods

Accepted Answer

The answer of Coffee, potato chips, newspapers, bread, and AA...

Question 17

Black & Decker makes toasters, vacuum cleaners, electric drills, and a variety of other appliances and tools. This is Black & Decker's
product blend.
product offering.
product mix.
product line.
multiple product lines.

Accepted Answer

The answer of Black & Decker makes toasters, vacuum cleaners,...

Question 18

For many years, ServiceMaster focused on residential customers, but now it has added business and industry services. This is an example of
product mortality.
product positioning.
multiple product lines.
product differentiation.
the product mix.

Accepted Answer

The answer of For many years, ServiceMaster focused on residential...

Question 19

Advertisements for the Swatch Chrono watch remind consumers that they don't get just "real" features like shock and water resistance when they buy the product. This is an example of
the value package.
emotional advertising.
institutional advertising.
product differentiation.
focusing on the visible features of a product.

Accepted Answer

The answer of Advertisements for the Swatch Chrono watch remind...

Question 20

In which stage of product development does market research have a major role?
Prototype development
Commercialization
Business analysis
Product testing
Concept testing

Accepted Answer

The answer of In which stage of product development does...

Quiz 12: Understanding Marketing Principles and Developing Products

Sara's parents will be celebrating their fiftieth wedding anniversary. Sara is planning to have the party catered. The catering is considered a specialty service. a convenience good. a specialty good. a shopping good. a shopping service.

Diamond rings, Rolex watches, Godiva chocolates, and Rolls Royces are examples of a product mix. convenience goods. shopping goods. a product line. specialty goods.

Bread is an example of a(n) _, while the catering for a wedding reception is an example of a(n) _. shopping good; shopping service convenience good; specialty good specialty good; specialty service convenience good; specialty service shopping good; shopping good

You are asked to come up with a new widget. What would your first step be? Idea screening Idea generation Commercialization Business analysis Test marketing

Ford offers four different models of the Escort which run the gamut from the three-door sport model to the five-door sedan. This represents a product offering. multiple product lines. a product line. a product blend. a product mix.

Light bulbs, pencils, pads of paper, and lubricating oils for machines are examples of ________ purchased by companies that make other goods. capital items fixed expense goods expense items depreciation goods impulse items

Buildings, manufacturing equipment, computers, and desks are examples of ________ purchased by companies that make other goods. impulse items capital items current expenses fixed expenses expense items

Pencils, brooms, and gloves are examples of , while factories, water towers, and airplanes are examples of __. capital items; expense items supplies; installations services; capital items expense items; capital items capital items; supplies

In which stage of the new product development process is a preliminary version of the product produced? Product test run Screening Prototype development Concept testing Test marketing

Coffee, potato chips, newspapers, bread, and AA batteries are examples of , while stereos and tires are examples of _____. shopping goods; shopping services convenience goods; shopping goods specialty goods; specialty services convenience goods; specialty services shopping goods; shopping goods

Black & Decker makes toasters, vacuum cleaners, electric drills, and a variety of other appliances and tools. This is Black & Decker's product blend. product offering. product mix. product line. multiple product lines.

For many years, ServiceMaster focused on residential customers, but now it has added business and industry services. This is an example of product mortality. product positioning. multiple product lines. product differentiation. the product mix.

In which stage of product development does market research have a major role? Prototype development Commercialization Business analysis Product testing Concept testing