Chapter 9: Product Management

Which of the following is considered a durable good? A. a hand mixer B. laundry detergent C. gasoline D. a bus ticket E. tax preparation

A. A hand Mixer

Which of the following is the best example of a shopping product? A.Patagonia jacket B. Tiffany bracelet C. cash from an ATM D. Roget's Thesaurus E. Coppertone sunscreen lotion

A. Patagonia Jacket

Axe Anarchy Bodywash, a men's personal care product, is an example of a A. product item B. product unit. C. product line. D. product mix. E. product class.

A. product item

Intel Core processors are purchased by Toshiba for its laptops, and are thus considered what type of business product? A. support products B. components C. supplies D. derived products E. installations

B. Components

Research shows that __________ is the single most important factor for a new product to defeat competitive ones—having superior characteristics that deliver unique benefits to the user. A. market attractiveness B. a distinctive point of difference C. good execution of the marketing mix D. a complete market and product protocol E. economical access to buyers

B. a distinctive point of difference

When a manager at Jackie's Bar & Grill sent some of his wait staff home early on a slow Tuesday night, he recognized a need to manage his A. off-peak convenience. B. idle production capacity. C. selective demand. D. intangibility. E. inconsistency.

B. idle production capacity.

Keith liked how the dry cleaner down the street washed and pressed his clothes, but he found the repeated phone calls from staff about his finished laundry annoying. He began to think of the whole place as annoying, which is a function of the __________ aspect of services. A. inventory B. inseparability C. imperfection D. intangibility E. impressionability

B. inseparability

Services are.. A. Marketing actions that provide quality products in a timely matter to satisfy customers' needs. B. intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value. C. tangible attributes that consumers' five senses can perceive. D. tangible product attributes that an organization provides to satisfy consumers' needs in exchange for money or something else of value. E. thoughts that lead to marketing actions.

B. intangible activities or benefits that an organization provides to satisfy consumers' needs in exchange for money or something else of value.

In the new-product development process, the __________ stage assesses the total "fit" of the proposed new product with the company's mission and objectives—from whether the product or service can be economically produced to the marketing strategy needed to have it succeed in the marketplace. A. idea generation B. screening and evaluation C. business analysis D. development E. commercialization

C. business analysis

A benefit of performing a SWOT analysis and an environmental scan during the new-product strategy development process is that they A. allow the firm to forecast potential sales and form their marketing budget based upon those projections. B. help identify which organizational members have an interest or stake in the product's success. C. can help identify the strategic role the new product might serve in the firm's portfolio. D. narrow the task to a single product rather than a number of product concepts. E. allow a firm to expand its objectives to include new ways of thinking.

C. can help identify the strategic role the new product might serve in the firm's portfolio.

As consumer demand for new homes increases, appliance manufacturers and building material suppliers may experience an increase in demand for their products, which is an example of A. sequential demand. B. concurrent demand. C. derived demand. D. secondary demand. E. primary demand.

C. derived demand.

Inconsistency in services refers to the fact that A. there is no regulation of service industries in terms of basic standards of quality. B. the quality of service provided by a firm is often inconsistent with its image. C. services depend upon the people who provide them, and the quality of that performance may vary from day to day or employee to employee. D. training and standardization of service delivery procedures cannot be accomplished. E. there is too much idle production capacity.

C. services depend upon the people who provide them, and the quality of that performance may vary from day to day or employee to employee.

Google's driverless car is an extreme example of the complexity of which step of the new-product process? A. business analysis B. idea generation C. screening and evaluation D. development E. commercialization

D. development

Consumer products are classified based on the attributes used in making the purchase decision, the effort spent by the consumer, and the A. amount of money the customer is willing to spend. B. number of competing products or product substitutes. C. demographics of the consumer. D. frequency of purchase. E. consumer psychographics.

D. frequency of purchase.

Products that the consumer does not know about or knows about but does not initially want are referred to as A. shopping products. B. convenience products. C. specialty products. D. unsought products. E. support products.

D. unsought products.