Final Exam Marketing

Which of the following is an internal source of a new product ideas for a company?

intrapreneurial programs

Which packaging component identifies the product or brand?

label

In which of the following cases is crowdsourcing used for new product development?

A company creates a forum where anyone can contribute new product ideas.

Which of the following is an example of licensing?

Berry, a fruit juice company, uses a well-known cartoon character to promote the company's line of children's products and pays the creator of the cartoon character a fee.

_________ occurs when two established brand names of different companies are used on the same product.

Co-branding

__________ products are consumer products and services that customers usually buy frequently. immediately, and with minimal comparison and buying effort.

Convenience

Which of the following statements is most likely true about the new product development process?

Customers, competitors, and suppliers are major sources of new product ideas.

Customers of a brand are internal sources of a new product ideas for the brand.

False

Industrial products are classified as a convenience products, shopping products, specialty products, and unsought products.

False

Life insurance is an example of a convenience product.

False

Of the three levels of products and services, the most basic level is the "actual product".

False

The stage at which new product and marketing programs are introduced into realistic market setting called concept testing.

False

When a company's market offering consists of of pure tangible good, related services are typically include for an additional charge.

False

Which statement is most likely true about idea generation in the new product development process?

Idea generation is usually followed by procedures that reduce the total number of ideas.

________ refer to a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible.

Services

_________ products are less frequently purchased consumer products and services that consumers compare carefully on suitability, quality, price, and style.

Shopping

________ products are consumer products and services with unique characteristics or brand identifications for which a significant group of buyers is willing to make more effort than usual to purchase.

Specialty

Which of the following is a desirable quality for a brand name?

The name should translate easily into foreign languages.

Which statement about convenience products is most likely true?

They are brought by consumers frequently and with minimal comparison.

A concrete and physical presentation of a product concept is most likely to increase the reliability of the concept test.

True

A product is defined as anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need.

True

Acquisition is one of the ways through which a company obtains new products.

True

In the context of the new product development , new products, include original products that a firm develops through its R&D efforts.

True

In the new product development process, the purpose of idea generation is to create a large number of ideas, and the purpose of the stages following it is to reduce that number.

True

Total quality management is an approach in which all of the company's people are involved in constantly improving the quality of products, services, and business processes.

True

A product concept is ____________.

a detailed version of a product idea stated in meaningful consumer terms

A __________ is defined as a name, term, sign, symbol, or design, or a combination of these, that identifies the marker or seller of product or service.

brand

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

candy

The stage in which a product concept is presented to groups of target consumers physically or symbolically is referred to as _________.

concept testing

A laundry detergent that consumers purchase frequently, with minimum comparisons, is an example of a(n) _________ product.

convenience

Which of the following types of products are generally priced the lowest?

convenience products

Brand ________ is the differential effect that knowing the brand name has on customer response to the product and its marketing.

equity

The new product development process usually starts with ________.

idea generation

Which of the following steps of the new product development process would most likely use an R-W-W framework?

idea screening

A product line is most likely too short if managers can ________.

increase profits by adding items.

A product line is most likely too long if managers can __________.

increase profits by dropping items

Product mix width refers to the ________.

number of different product lines the company carries

Product mix depth refers to the ________.

number of versions offered for each product in the line

Which of the following terms best describes the process of designing and producing a container or wrapper for a product?

packaging

A product mix is also known as a product _________.

portfolio

Store brand are known as _________ brands.

private

Service variability means that ________.

service quality depends on when, where, and how they are provided

Service inseparability means that ________.

services become a part of their providers, whether the providers are people or machines

Service perishability means that ________.

services cannot be stored for later sale or use

Which of the following is a pure tangible good?

shampoo

A refrigerator is an example of a(n) ___________ product.

shopping

Silkskin Cosmetics is advertising its newest line of eye makeup. Made from all-natural ingredients, the products are hypoallergenic. Silkskin is selling the products in specially designed tubes that make application easier. Which of the following is a core customer value for Silkskin's line of eye makeup?

the desire for having beautiful eyes

Product mix length refers to the _________.

total number of items a company carries within its product lines

Which of the following would be considered part of an augumented product rather than that of an actual product or core customer value?

warranty

Consistency of a product mix refers to the ________.

ways in which the various product lines are related.