Ch. 9 Marketing Question Quiz

A review of the sales, costs, and profit projections for a new product to find out whether they satisfy the company's objectives is called a ________. business feasibility plan business analysis product acceptance business proposal marketing strategy development

business analysis

A company getting ready to launch a new product must make several decisions. The company must first decide on ________. whether to launch the product in a region when to introduce the product whether to launch the product into full national distribution whether to launch the product in a single location when to develop a planned market rollout

when to introduce the product

A particular firm added three new products earlier this year to increase variety for customers. Two of the products failed to reach the minimal sales quota. Which of the following is LEAST likely to have been the cause of their failure. The product development costs were high. Competitors fought back harder than expected. Product research was too extensive. The products were priced too high. The products were advertised incorrectly.

Product research was too extensive

A product idea is _______. the testing of new product concepts with groups of target consumers a possible product that the company can see itself offering to the market a detailed version of the new product idea stated in meaningful consumer terms the way consumers perceive an actual or potential product the knowledge and awareness of a product among consumers

a possible product that the company can see itself offering to the market

A style is best defined as a _____. basic and distinctive mode of expression temporary period of unusually high sales short-term component of the marketing mix popular consumer taste at a given time currently popular trend in retail goods

basic and distinctive mode of expression

A detailed version of a new idea stated in meaningful customer terms is called a product ________. proposal image solution concept lining

concept

A company can install a(n) __________ management system to collect, review, evaluate, and manage new product ideas. innovation quality customer relationship content supply chain

innovation

A(n) _______ chooses a strategy consistent with the intended product positioning. To gain market leadership requires correct decisions from the beginning. harvester market pioneer laggard brand evangelist early adopter

market pioneer

A _______ is the way consumers perceive an actual or potential product. concept test product idea product concept product image

product image

A group of business entrepreneurs who worried about their teenage children drinking and driving decided there must be some way to approach this problem proactively. They came up with an idea for a pair of blurry goggles. They believed looking through the goggles would simulate what the world looks like when someone is seriously intoxicated. They developed a crude pair of blurry goggles to show prospective customers. This crude pair of goggles is known as a ________. product image concept test product idea prototype

prototype