Chapter 9

____ is best described as the process of selling prototype of a product in either a real or simulated market environment.

Test marketing

Which of the following statements is true about pure services?

They are heterogeneous.

If a rapid prototyping model can be developed, the molds for manufacturing can be made inexpensively by most modern manufacturers.

True

If you have started a business, or are doing a business where you do not expect to prepare a full business plan, a stand-alone marketing plan might be useful.

True

Marketing and new product experts believe that most of the small business failures could have been avoided by following the new product development (NPD) process.

True

The concept of total product includes how customers describe one's good or service.

True

The final goal for developing and testing your value proposition is how it stacks up against and will compete against the other offering available to your customers.

True

The new product development process is likely to be easier for services than for innovative goods.

True

While services go through the same four stages of a product life cycle, it can be somewhat easier to extend the life cycle and to virtually eliminate the decline stage of a service. True/False

True

Which of the following statements is true about products? Choose all that apply. A. Most of the products sold today are combinations of both goods and services. B. Products in terms of goods are more inseparable from their providers than services. C. Products in terms of goods are generally less homogeneous than services. D. People such as political candidates and celebrities can be considered as products. E. All of the above F. None of the above

A and D

During the introduction stage a product's life cycle and from a marketing standpoint, the more innovative the product, the quicker the sales.

False

For me-too products, the stages of new product development are always extensively long.

False

The relation of product or company capabilities to customer pains and gains is the augmented product you offer your customers.

False

The total product is the most general description of a business, and the one which captures the smallest amount of what is special about a business.

False

Using a single reputable source is adequate when performing secondary analysis.

False

Which of the following is the first stage of the new product development process?

Idea generation

Which of the following statements is not true concerning marketing and marketing plans?

Not all business plans have a marketing section.

A service typically exhibits the characteristic of _____ because if it is not used when offered, it cannot be saved for later use.

Perishability

Which of the following is most likely to be an example of a good-dominated product?

Purchasing a sewing machine with a warranty

The research and development team of Leonide Inc. has generated five different product ideas. All five ideas are being rated against each other on their characteristics such as product uniqueness, idea profitability, protectable intellectual property, and product team quality. Based on their ranking in this stage, only three ideas will make it to the immediate next step which will be the stage of _____.

feasibility study

When conducting primary research and comparing various survey methods, the least expensive method is the:

online survey

The 4 P's of marketing are Product, Price, Promotion, and Placement. True/False

true

When coming up with a new idea in the product development process, the focus is on the pains and gains of customers. True/False

true