A product is the sum of the physical, psychological, and __________ satisfactions the buyer derives from purchase, ownership, and consumption.
Question 2 of 20
Convenience goods, shopping goods, and specialty goods are the three classes of:
A. dual branding.
B. lethargic organization.
C. organizational goods.
D. consumer goods.
Question 3 of 20
For certain products there are a limited number of buyers; this is known as a(n):
A. generic product.
B. horizontal market.
C. vertical market.
D. extended product.
Question 4 of 20
Which of the following is the best example of a shopping good?
A. A home security system
B. A bottle of Snapple pink lemonade
C. A pair of fingernail clippers
D. A truckload of bricks
Question 5 of 20
What does it mean when you say the market for a box of impact eye goggles is horizontal?
A. It means the market is deep.
B. It means the market is restricted to just a few industries.
C. It means the market has numerous middlemen.
D. It means the market is anyone that needs eye products.
Question 6 of 20
In a technical sense, quality can refer to physical traits such as features, performance, reliability, durability, aesthetics, serviceability, and __________ specifications.
A. buyer derives to
B. conformance to
C. conjunction with
D. acceptance of
Question 7 of 20
__________ refers to what the customer receives in exchange for what the customer gives.
B. Product mix
D. Line extension
Question 8 of 20
What is the legal term for a product or service brand?
Question 9 of 20
What does the line extension approach use?
B. Brand name to facilitate entry into a new market product
C. An expansion of business links
D. Large-volume production runs
Question 10 of 20
A product audit by a cereal manufacturer would:
A. categorize the cereals produced within its industry as to product similarities and differences.
B. determine if the company should delete its Spider-Man brand cereal.
C. analyze the sales levels of all cereals in its competitive environment.
D. determine the competitive advantage of each brand of cereal in the market.
Question 11 of 20
Marketing dimensions refer to price, promotion, strategy, and:
A. channels of distribution.
B. product features.
C. launch offers.
D. competitive environments.
Question 12 of 20
A broader approach to the new product question is the one developed by H. Igor Ansoff in the form of:
A. corporate marketing.
B. marketing mix.
C. growth vectors.
Question 13 of 20
The primary reason for new product failure is the inability of the selling company to match its offering to the:
A. needs of the customers.
B. required competition.
C. prevailing price.
D. product development cycle.
Question 14 of 20
Products that are inventions are known as:
A. new-to-the-world products.
B. new category entry.
C. an addition to product line.
D. a product improvement.
Question 15 of 20
Avon first marketed its Skin So Soft lotion as a body lotion so it would have a product to compete with other similar body lotions. Today, Avon promotes its Skin So Soft lotion as an insect repellant that is good to your skin. In which of the new product categories would Skin So Soft lotion fall?
A. New-to-the-world product
B. New category entry
C. An addition to product line
Question 16 of 20
__________ denotes a growth direction through the increase in market share for present product markets.
A. "Market penetration"
B. "Marketing mix"
C. "Growth vectors"
D. "Market development"
Question 17 of 20
What does out-rotating involve?
A. That salesmen should be exchanged with competing firms from time to time
B. That managers and salesmen should exchange jobs periodically
C. That employees should be placed in positions that require direct contact with customers, competitors, and other key outside groups
D. That new product ideas should be brought in from outside the firm
Question 18 of 20
Strategic risk involves:
A. putting out money to advertise new ideas.
B. not matching the role or purpose of a new product with a specific strategic need or issue of the organization.
C. the use of new technology to produce the product at a profit.
D. the cost of testing concepts.
Question 19 of 20
A strategic alliance is best defined as:
A. a short-term relationship aimed at winning a market segment.
B. a relationship between a business and its customers.
C. a long-term partnership between two organizations designed to accomplish the strategic goals of both parties.
D. a relationship between a business and the community in which it is headquartered.
Question 20 of 20
Various alternatives exist for creating and managing cross-functional product development teams. Two of the better-known methods are the establishment of skunkworks and the __________ approach.