Developing New Products and Services

Question 1

All of the different product lines offered by an organization are collectively referred to as a

Accepted Answer

product mix.

Question 2

Stage specifies the features of the product and marketing strategy and financial projections

Accepted Answer

business analysis

Question 3

a good, service, or idea consisting of a bundle of tangible and intangible attributes

Accepted Answer

product

Question 4

The Federal Trade Commission (FTC) considers a product "new" only

Accepted Answer

for a period of six months after it enters the market.

Question 5

7 stages an organization goes through to identify opportunities and covert into a product

Accepted Answer

new-product process

Question 6

Four I's of services include intangibility, inconsistency, inseparability and ________

Accepted Answer

inventory

Question 7

Stage of the new-product process that internally and externally evaluates ideas to eliminate

Accepted Answer

screening and evaluation

Question 8

Stage that exposes actual products to prospective consumers under realistic conditions

Accepted Answer

market testing

Question 9

Services can be classified as delivered by people or equipment, _____, or they are gov't agency

Accepted Answer

for profit or nonprofit organizations

Question 10

Two main classifications of business products are

Accepted Answer

components and support products

Question 11

What do a security guard, a plumber and a management consultant have in common?

Accepted Answer

people-based services

Question 12

A product that disrupts consumers' normal routines but does not require totally new learning

Accepted Answer

dynamically continuous innovation.

Question 13

Situation that occurs when a service provider is available but there is not demand

Accepted Answer

idle production capacity

Question 14

Distribution is very limited with which of the following type of consumer product?

Accepted Answer

specialty

Question 15

A product that requires no new behaviors be learned by consumers is a

Accepted Answer

continuous innovation.

Question 16

Stage of the new-product process that develops a pool of concepts as candidates

Accepted Answer

idea generation

Question 17

Goods can be divided into __________ and ___________.

Accepted Answer

durable; nondurable

Question 18

A _________ is defined as an item consumed in one or a few uses.

Accepted Answer

nondurable good

Question 19

Marketers pay slotting fees to grocers in payment for space--or slots which stage does this

Accepted Answer

commercialization

Question 20

Final stage of the new-product process that positions and launches a new product

Accepted Answer

commercialization

Question 21

Items for which the consumer compares several options and criteria such as price and quality

Accepted Answer

shopping products

Question 22

The ______ is the unique identification number that defines an item for ordering or inventory

Accepted Answer

stock keeping unit

Question 23

Dental services for more than 50% of the adults in America is a(n)

Accepted Answer

unsought

Question 24

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

Accepted Answer

Crest toothpaste

Question 25

Consumer products refer to

Accepted Answer

products purchased by the ultimate consumer.

Question 26

Installations, accessory equipment, supplies and industrial services

Accepted Answer

support products

Question 27

A discontinuous innovation is a product that

Accepted Answer

requires consumers to learn entirely new patters of behavior

Question 28

Intangible activities or benefits that an organization provides to satisfy consumers' needs

Accepted Answer

services

Question 29

Business products are also referred to as _____________.

Accepted Answer

industrial products

Question 30

A(n) _____________ is a thought that leads to a product or action.

Accepted Answer

idea

Question 31

Two basic components of a customer's evaluation of a service are

Accepted Answer

expectations and experience.

Question 32

A product item refers to

Accepted Answer

a specific product that has a unique brand, size or price.

Question 33

Which of the following is the best example of an equipment-based service?

Accepted Answer

taxis

Question 34

Cars and appliances are classified as

Accepted Answer

durable goods

Question 35

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

Accepted Answer

Hallmark Mother's and Father's Day cards

Question 36

A product can be classified as "new" if it _____ from existing products.

Accepted Answer

is functionally different

Question 37

What are the eight marketing reasons for new-product failures? Need to know 4

Accepted Answer

insignificant point of difference or bad timing, no economical access to buyers or poor quality, incomplete market and product protocol or poor marketing mix, not satisfying customer needs or too little attractiveness

Question 38

5 key dimensions of service quality

Accepted Answer

reliability, tangibility, responsiveness, assurance, empathy

Developing New Products and Services

Questions 38

Developing New Products and Services

Questions 38