Marketing Test 10

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Companies should not be concerned about the financial analysis of a new product until after it is completely developed

False

Developing new product ideas should be done scientifically rather than using creative processes

False

Every product enhancement will add to customer satisfaction

False

Examples of capital equipment are tools, small machines, and furniture

False

Most consumer needs are so basic that business people don't have to be concerned about them.

False

One of the markets that businesses understand very well is the teenage market

False

Operating equipment usually lasts longer than capital equipment.

False

The easiest step in new product development is usually finding ideas for new products

False

To avoid having too many new product ideas, companies should evaluate ideas in the initial idea development stage

False

A good way to improve customer satisfaction with products is to suggest the purchase of additional products that make the original product more useful

True

A product package serves the dual purpose of promotion and protection.

True

A prototype is used to test quality and costs before full-scale production begins

True

Business markets make purchase decisions based on customer demand

True

Marketers can use feedback from salespeople to gain insight into both customers and competitors

True

Marketers represent the consumer as products are designed and developed.

True

Most businesses follow a similar series of steps to identify and develop new products

True

Most supplies are not uniquely developed for one business.

True

Offering a guarantee or testimonial is a way to differentiate products

True

Salespeople who work with customers every day are a good source of ideas for new products or product improvements

True

The basic physical product must respond to an important customer need.

True

The federal trade commission

True

The price of raw materials influences the price charged for finished products.

True

The satisfaction provided from a product's use is more important to consumers than its physical appearance.

True

A problem with using a test market for new products is

all are correct

The consumer purchase classification system is based on

all of the above

Which of these is not an example of a raw material

computer chip

Consumer needs should be defined by

consumers

After determining that a product idea is feasible, the next step in product planning is to

create and test a sample marketing strategy

A ______ includes additional options and features that allow a business to satisfy several target markets with one product

enhanced product

The last step in product development is

full-scale introduction of the product into the market

Which of the following is not an important quality of a product's package?

inexpensive

The legal protection of words or symbols for use by a company is a

trademark

Which of these is not one of the categories in the business product classification system

unsought goods

To interest a consumer, a product must be

useful and meet the consumers' needs

If a product has been successful for a long time, it will probably remain successful because consumer needs seldom change.

False

Market testing is an inexpensive, low-risk way to determine if a new product will be successful

False

Businesses have many choices in the development of new products to make their brand unique

True

Businesses use the consumer purchase classification system to decide how to market their products in consumer markets

True

Component parts have been either partially or totally processed by another company

True

Consumers have a different view of products than the businesses that produce them.

True

In product design, the basic product is modified and improved with features and options

True

Individuals or socially related groups who purchase products for personal consumption are known as consumer markets

True

Which of these is an example of a capital good

office building

Good sources of new product ideas are

problems customers cannot solve with current products

A group of similar products with slight variations in the product mix to satisfy different needs in a market is a

product line


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