Question 1

For a veterinarian's office, the paper used to print payment receipts is an example of a(n)  ________.

Accepted Answer

A)   repair product
B)   operating supply
C)   maintenance product
D)   component part
E)   raw materialF) B) and C)
G) A) and B)

Question 2

Marketers are primarily striving to generate customer ________ when they use a teaser advertisement created to give prospective customers just enough information about a new product to make them curious.

Accepted Answer

A)   confirmation
B)   interest
C)   evaluation
D)   adoption
E)   impulse purchasingF) A) and D)
G) A) and C)

Question 3

Which of the following is the best example of a convenience product?

Accepted Answer

A)   a silk scarf
B)   a subscription to a magazine
C)   a gallon of milk
D)   a lawn mower
E)   a CD playerF) C) and D)
G) B) and C)

Question 4

How do marketers define innovation?

Accepted Answer

Marketers define inn...

Question 5

Nondurable goods are more likely than durable goods to be purchased under conditions of high involvement.

Accepted Answer

A) True 
 B)False

Question 6

Simulated test marketing can help a company determine where in a store a product should be placed to maximize sales.

Accepted Answer

A) True 
 B)False

Question 7

________ include convenience products, shopping products, specialty products, and unsought products.

Accepted Answer

A)   Fast moving consumer goods
B)   Consumer products
C)   MRO products
D)   Industrial products
E)   Component productsF) A) and E)
G) A) and D)

Question 8

At a retail store, the display racks on which clothes are hung, the shelving, and the cash registers are all examples of ________.

Accepted Answer

A)   accessory equipment
B)   shopping products
C)   capital equipment
D)   component parts
E)   MRO productsF) B) and C)
G) A) and D)

Question 9

Consumers would perceive a ceiling fan as having greater trialability than a new kind of snack food.

Accepted Answer

A) True 
 B)False

Question 10

________ are consumer products for which a consumer either has little awareness or interest until a need arises. These products require a lot of advertising, personal selling, and other marketing efforts.

Accepted Answer

A)   Specialty products
B)   MRO products
C)   Unsought products
D)   Shopping products
E)   Staple productsF) B) and C)
G) B) and D)

Question 11

Once a new product or service passes the business analysis phase, it moves into the ________ phase.

Accepted Answer

A)   concept development
B)   technical development
C)   market testing
D)   strategy development
E)   product proposalF) C) and D)
G) B) and E)

Question 12

For the business market, a multipurpose absorbent used to clean up any type of spills would be an example of a(n)  ________.

Accepted Answer

A)   repair product
B)   operating supply
C)   maintenance product
D)   restoration product
E)   consumer productF) D) and E)
G) B) and E)

Question 13

Business analysis for a new product begins with assessing how the new product will fit the firm's total product mix.

Accepted Answer

A) True 
 B)False

Question 14

Unlike innovators, early adopters of new products ________.

Accepted Answer

A)   compose the smallest of the adopter categories
B)   have greater concern for social acceptance
C)   are upper class consumers
D)   are light media users
E)   are well educatedF) All of the above
G) A) and B)

Question 15

A ________ is a modification to an existing product.

Accepted Answer

A)   technical innovation
B)   continuous innovation
C)   discontinuous innovation
D)   commercial innovation
E)   dynamically discontinuous innovationF) B) and C)
G) B) and E)

Question 16

The last stage in the product adoption process is ________.

Accepted Answer

A)   awareness
B)   adoption
C)   interest
D)   confirmation
E)   evaluationF) C) and D)
G) B) and D)

Question 17

________ are manufactured goods or subassemblies of finished items that organizations need to complete their own products.

Accepted Answer

A)   Component parts
B)   Accessory equipment materials
C)   Processed materials
D)   MRO products
E)   Raw materialsF) B) and C)
G) A) and B)

Question 18

A(n)  ________ is defined as a tangible good, service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process.

Accepted Answer

A)   augmented product
B)   service
C)   core product
D)   product
E)   innovationF) A) and C)
G) D) and E)

Question 19

The Federal Trade Commission says that a product may be called new for only ________.

Accepted Answer

A)   three months
B)   six months
C)   nine months
D)   one year
E)   two yearsF) C) and E)
G) A) and B)

Question 20

Innovators tend to be better off financially than consumers in other adopter groups.

Accepted Answer

A) True 
 B)False

Exam 8: Product I: Innovation and New Product Development

At a retail store, the display racks on which clothes are hung, the shelving, and the cash registers are all examples of ________.

Correct AnswerverifiedShow Answer

________ are manufactured goods or subassemblies of finished items that organizations need to complete their own products.

Correct AnswerverifiedShow Answer

The Federal Trade Commission says that a product may be called new for only ________.

Correct AnswerverifiedShow Answer

Which of the following is the best example of a convenience product?

Correct AnswerverifiedShow Answer

A(n) ________ is defined as a tangible good, service, idea, or some combination of these that satisfies consumer or business customer needs through the exchange process.

Correct AnswerverifiedShow Answer

A ________ is a modification to an existing product.

Correct AnswerverifiedShow Answer

Nondurable goods are more likely than durable goods to be purchased under conditions of high involvement.

Correct AnswerverifiedShow Answer

________ include convenience products, shopping products, specialty products, and unsought products.

Correct AnswerverifiedShow Answer

Consumers would perceive a ceiling fan as having greater trialability than a new kind of snack food.

Correct AnswerverifiedShow Answer

For a veterinarian's office, the paper used to print payment receipts is an example of a(n) ________.

Correct AnswerverifiedShow Answer

The last stage in the product adoption process is ________.

Correct AnswerverifiedShow Answer

Marketers are primarily striving to generate customer ________ when they use a teaser advertisement created to give prospective customers just enough information about a new product to make them curious.

Correct AnswerverifiedShow Answer

For the business market, a multipurpose absorbent used to clean up any type of spills would be an example of a(n) ________.

Correct AnswerverifiedShow Answer

Once a new product or service passes the business analysis phase, it moves into the ________ phase.

Correct AnswerverifiedShow Answer

________ are consumer products for which a consumer either has little awareness or interest until a need arises. These products require a lot of advertising, personal selling, and other marketing efforts.

Correct AnswerverifiedShow Answer

Business analysis for a new product begins with assessing how the new product will fit the firm's total product mix.

Correct AnswerverifiedShow Answer

How do marketers define innovation?

Correct AnswerverifiedMarketers define inn...View AnswerShow Answer

Innovators tend to be better off financially than consumers in other adopter groups.

Correct AnswerverifiedShow Answer

Unlike innovators, early adopters of new products ________.

Correct AnswerverifiedShow Answer

Simulated test marketing can help a company determine where in a store a product should be placed to maximize sales.

Correct AnswerverifiedShow Answer

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Marketers define inn...
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