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