MKT201 - Chapter 8 Quiz
Which of the following terms refers to features, functions, benefits, and uses of a product? A. Goods B. Augmented products C. Attributes D. Core products E. Actual products
C. Attributes
A company is likely going to use a media blitz in which step of the adoption pyramid? A. Interest B. Adoption C. Awareness D. Evaluation E. Trial
C. Awareness
Which of the following product layers might include a warranty, credit, delivery, installation, and repair service after the sale because marketers know that adding these supporting features to a product is an effective way for a company to stand out from the crowd? A. Augmented product B. Actual product C. Core product D. Good E. Attributes
A. Augmented product
Which of the following refers to a consumer product that is usually low-priced, widely available, and purchased frequently with a minimum of comparison and effort? A. Convenience product B. Unsought product C. Specialty product D. Durable product E. Emergency product
A. Convenience product
Which of the following adopters are concerned about social acceptance, so they tend to gravitate toward products they believe will make others think they are cutting-edge or fashionable? A. Early adopters B. Laggards C. Innovators D. Early majority E. Late majority
A. Early adopters
At what phase of the new product development process is a firm likely to create a prototype of the product? A. Technical development B. Marketing strategy development C. Product concept development and screening D. Idea generation E. Business analysis
A. Technical development
Many innovative technology products are released as a(n) _____ test to allow usage and feedback from a small number of users who are willing to test the product under normal, everyday conditions of use. A. beta B. observability C. relative advantage D. bleeding edge E. trialability
A. beta
When it comes to determining an organization's commitment to innovation, _____ can be used as a central metric. A. research and development B. design thinking C. discontinuous innovation D. degree of newness E. convergence
A. research and development
Which the following consists of all the benefits a product will provide for consumers or business customers? A. Attributes B. Core product C. Augmented product D. Good E. Actual product
B. Core product
Which of the following refers to the products an organization uses in its daily operations, such as the robotics Ford uses to assemble automobiles? A. Raw materials B. Equipment C. Maintenance, repair, and operating (MRO) products D. Component parts E. Processed materials
B. Equipment
Which phase of the new product development process involves identifying the target market, estimating its size, and determining how the company can effectively position the product to address the target market's needs? A. Product concept development and screening B. Marketing strategy development C. Commercialization D. Idea generation E. Test marketing
B. Marketing strategy development
Which of the following product categories classifies milk, bread, and gasoline as basic or necessary items that are available almost everywhere and most consumers don't perceive big differences among brands? A. Unsought product B. Staple product C. Shopping product D. Specialty product E. Impulse product
B. Staple product
Marketers estimate technical success when they decide whether a new product is technologically feasible and a(n) _____ success when they decide whether anyone is likely to buy the product. A. profitable B. commercial C. marketing D. strategic E. innovative
B. commercial
A _____ is a new product that copies, with slight modification, the design of an original product. A. prototype B. knockoff C. discontinuous innovation D. convergence E. patent
B. knockoff
Tablet computers are an example of a(n) ________ because the consumer spends considerable time and effort gathering information and comparing alternatives before making a purchase. A. convenience product B. shopping product C. unsought product D. staple product E. specialty product
B. shopping product
Which of the following refers to a modification to an existing product, to set one brand apart from its competitors? A. Design thinking B. First mover advantage C. Continuous innovation D. Value co-creation E. Convergence
C. Continuous innovation
Which of the following refers to a product innovation that requires a major change in the way consumers live and creates a new market and value chain? A. Continuous design thinking B. Convergent thinking C. Disruptive innovation D. First mover advantage E. Ideation
C. Disruptive innovation
Value co-creation occurs in what phase of the new production development process? A. Test marketing B. Marketing strategy development C. Idea generation D. Product concept development and screening E. Business analysis
C. Idea generation
Which of the following is produced when firms transform raw materials into a new product? A. Equipment B. Specialized services C. Processed materials D. Accessories E. Maintenance products
C. Processed materials
Which of the following is the phase in the new product development process in which companies launch a new product, and it requires full-scale production, distribution, advertising, and sales promotion? A. Marketing strategy development B. Product concept development and screening C. Test marketing D. Commercialization E. Idea generation
D. Commercialization
Which of the following refers to the stage of the product adoption pyramid in which consumers weigh the costs and benefits of the new product? A. Interest B. Adoption C. Awareness D. Evaluation E. Trial
D. Evaluation
Which of the following is a question a firm would ask when evaluating the firm's strategy on an innovation scorecard? A. Does leadership encourage members of an organization to try things without fearing failure? B. Does the organization have an appetite for learning and trying new things? C. Does the organization intentionally avoid trying new things? D. How aware are organization members of the firm's goals for innovation? E. Do the organization's members have the freedom and security to try things, fail, and then go forward to try different things?
D. How aware are organization members of the firm's goals for innovation?
Which of the following describes the degree to which a consumer perceives a new product as providing superior benefits? A. Observability B. Compatibility C. Complexity D. Relative advantage E. Trialability
D. Relative advantage
Which of the following is the term used by marketers to indicate the broad range of possibilities for product value and attributes? A. Components B. Durable good C. Shopping product D. Design thinking E. Offering
E. Offering
Which of the following refers to products that organizational customers purchase to use in their finished products? A. Component parts B. Accessories C. Specialized services D. Equipment E. Raw materials
E. Raw materials