Marketing Test 10
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