Question 1

Product deletion

Accepted Answer

Product deletion is not a simple task as it may involve various factors such as the impact on customers, sales, and profitability. Management may have differing opinions on whether a product should be deleted, making the decision process more complex.

Question 2

The ability of a product to provide the same level of quality over time is called

Accepted Answer

Consistency refers to the ability of a product to maintain the same level of quality over time, which is an important factor in building customer trust and loyalty. Longevity refers to how long a product lasts, while variability, status, and image refer to other aspects of a product's quality and perception.

Question 3

____ and ____ are important characteristics of quality for consumer markets, and ____ and ____ are important characteristics of quality for business markets.

Accepted Answer

The answer of ____ and ____ are important characteristics of...

Question 4

Which of the following is the best definition of product features?

Accepted Answer

Product features are specific design characteristics that allow a product to perform certain tasks. They are the unique traits or attributes of a product that set it apart from others and make it appealing to customers. These features can include anything from the materials used to create the product to the functionality it provides.

Question 5

The overall characteristics of a product that allow it to perform as expected in satisfying customer needs is

Accepted Answer

Quality refers to the ability of a product to meet customer expectations and perform as expected. It includes factors such as reliability, performance, accuracy, and consistency. All the other choices are important factors as well, but they ultimately contribute to the overall quality of the product.

Question 6

To differentiate their products, companies sometimes emphasize the product support services that they offer. This is especially true when

Accepted Answer

When consumers perceive all products in a market to have essentially the same quality, design, and features, companies emphasize product support services to differentiate themselves and add value beyond the basic product attributes.

Question 7

Seth recently purchased a new Brunswick Billiards table for his recreation room. The next day after delivery, Seth noticed a problem with the way one of the pockets was strung. Since it was a weekend, he didn't expect to have it repaired. However, when he called the store to leave a message, someone answered the phone. She gave Seth a number where he could call a repair representative who would come straight to Seth's house within an hour. Brunswick Billiards is most likely differentiating itself through

Accepted Answer

Brunswick Billiards is differentiating itself through its product support services, as it provided a number for Seth to call to have a repair representative come to his house immediately. This shows that the company is committed to ensuring its customers are satisfied with their product and are willing to go above and beyond to provide support.

Question 8

The Home Depot differentiates its product offerings from its competition with stores like Sam's by offering delivery and installation, financing arrangements, and repairs. The Home Depot is differentiating through

Accepted Answer

The Home Depot is differentiating itself from its competition by offering additional customer services such as delivery and installation, financing arrangements, and repairs. These services are not necessarily related to the product itself, but rather provide additional support and convenience for the customer. This falls under the category of customer services.

Question 9

Early in the commercialization phase, marketers must make decisions about

Accepted Answer

Warranties, repairs, and replacement parts are all decisions that must be made early in the commercialization phase of a product's lifecycle.

Question 10

A new variety of Doritos is initially introduced in Fort Worth, Texas; Columbia, South Carolina; Peoria, Illinois; and Spokane, Washington. After its initial success, Frito-Lay markets the Doritos in those entire states, then the adjacent states, and finally the entire country. Frito-Lay is using a ____ for its new variety of Doritos.

Accepted Answer

Frito-Lay is using a rollout approach, which starts with a limited launch in select markets and expands gradually based on its success.

Question 11

A suggested approach to deleting products, in which each product is evaluated periodically to determine its impact on the overall effectiveness of the firm's product mix, is called a(n)

Accepted Answer

The suggested approach to deleting products, in which each product is evaluated periodically to determine its impact on the overall effectiveness of the firm's product mix, is called a systematic review. This approach involves a regular and systematic evaluation of the firm's product offerings to ensure that they are aligned with the company's overall strategy and goals. It allows a company to identify underperforming products, eliminate redundancies, and make strategic decisions about its product mix.

Question 12

Stacey and Evan are preparing budgets for a new product as well as finalizing plans for the full-scale marketing and manufacturing of the new Genie-Vac. They are in the ____ phase of the new-product development process.

Accepted Answer

The activities described, such as preparing budgets for a new product and finalizing plans for full-scale marketing and manufacturing, are part of the commercialization phase. This is the final phase in the new-product development process where the product is launched into the market.

Question 13

When Natalie and Chris analyze the results from the recently completed test market to determine if any changes in the marketing mix are needed, they are in the ____ phase of the new-product development process.

Accepted Answer

During the commercialization phase, companies analyze test market results to determine necessary adjustments in the marketing mix before the full-scale product launch. This phase follows test marketing, where the product is introduced to a limited market to gauge its performance.

Question 14

Three major ways in which marketers engage in product differentiation are

Accepted Answer

Product differentiation is the process of distinguishing a product from its competitors by highlighting its unique features, design, functionality, and services. The three major ways in which marketers engage in product differentiation are product quality, product design and features, and product support services. Product quality ensures that the product performs well, and meets the needs and expectations of the customer. Product design and features offer customers a unique and attractive product that stands out from competitors. Product support services provide customers with additional services such as after-sales support, warranties, and repairs that add value and convenience to the product.

Question 15

When determining how a product is conceived, planned, produced, and even its physical appearance and its specific characteristics, one is really talking about the product's

Accepted Answer

The sentence mentions the physical appearance and specific characteristics of the product which are related to its design, styling, and features. Therefore, the best choice is E - design, styling, and features.

Question 16

Often, a new product is launched in stages during commercialization. This gradual introduction of the product is known as

Accepted Answer

Rollout is the gradual introduction of a new product during commercialization. It involves launching the product in phases or regions, rather than all at once. This allows the company to test the product and adjust marketing strategies before a full-scale launch. Market development, market extension, and competitive jamming are different marketing strategies and not directly related to the gradual introduction of a new product. Regional commercialization is not a common term used in marketing.

Question 17

The product deletion process is similar to the ____ step of the new-product development process because both involve deciding whether the product should be in the product mix based on an assessment of sales, costs, and profits.

Accepted Answer

The product deletion process involves assessing the sales, costs, and profits of a product to determine whether it should be removed from the product mix. This is similar to the business analysis step in the new-product development process, which also involves analyzing sales, costs, and profits to determine whether a new product should be launched. Therefore, option E, "business analysis," is the best choice.

Question 18

Which of the following is a disadvantage of gradually introducing a product to market?

Accepted Answer

Gradually introducing a product to market allows competitors to monitor the results of the new product, which can give them an advantage in adjusting their own strategies accordingly. This makes it a disadvantage compared to introducing the product all at once, as it doesn't allow for a surprise entry into the market.

Question 19

Product deletion can best be described as the process of deleting a product from the product mix when it

Accepted Answer

Product deletion is the process of removing a product from the product mix when it no longer satisfies a sufficient number of customers. This could be due to various reasons like a change in customer preferences, emergence of better alternatives, or declining demand. It is important for companies to regularly review their product mix and remove products that are no longer profitable or relevant to maintain a competitive edge.

Question 20

The three major ways to modify a product include

Accepted Answer

The three major ways to modify a product are aesthetic changes (appearance), quality changes (improvements or reductions in quality), and functional changes (enhancements or alterations in how the product works).

Quiz 12: Developing and Managing Products