Which of the following statements about new product development is NOT true?

creating a hit new product is easy for a marketer is easy

Each is 1 reason why new product development is necessary, EXCEPT which one?

A firm's success is measured by # of products

What is the product life cycle?

Introduction, Growth, Maturity, Decline

Which is true about the pricing objectives of the seller?

pricing objectives reflect the goals the seller wants

Which is NOT one of the 3 classifications of consumer products?

Capital Items, these are more B>B instead of B>C

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Chapter 12 Quiz

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Chapter 12 practice quiz

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Questions 16

Answers

1
Which of the following statements about new product development is NOT true?
creating a hit new product is easy for a marketer is easy
estimated that it takes 50 new product ideas to get one
the # of new products introduced to market yearly is up
the single greatest factor
2
Which is NOT one of the orientations from which new ideas or visions for new products can stem?
Profitability
Business or user based
Entrepreneurship
Technology-based
3
Each is 1 reason why new product development is necessary, EXCEPT which one?
Obtain a competitive advantage
Expand or diversify product lines
A firm's success is measured by # of products
Meet the demands of shifting consumer preferences
4
Which of the following is NOT part of the product value package?
Rewards
Features
Price
Benefits
5
Which refers to the group of products that a company makes available for sale -B>C, B>B, -both
Product Line
Product Value Package
Product Mix
Product Features
6
Each is a component of price setting except which one?
market share
breakeven analysis
cost/volume/profit relationships.
cost orientated pricing
7
Which term do marketers use to define a product and its bundle - benefits, features, attributes
Product Classificaiton
Product Strategy
Product mix
Value Package
8
Each is one part of the 3 part service process design, EXCEPT which one?
Process selection
Time Compression
Worker requirements
Facility requirements
9
What is the product life cycle?
Birth, adolescene, maturity, death
Introduction, Growth, Maturity, Decline
innovator, early adopter, early majority, 51% laggards
10
Which term describes the process of using names & symbols to communicate product qualities ?
Packaging and labeling
Branding
Product identifier - names
Product Placement
11
Each below is one of the 3 classificaitons of organzational products EXCEPT which one?
Capital Items
Consulting Services
Expense Items
Production Items
12
Each of these is a type of brand name, EXCEPT ?
Generic
Private
Licensed
Naitonal
13
You can extend a product life cycle using foreign markets by all EXCEPT?
New Product development
Product Extension
Reintroduction
Product Adaptation
14
Which is true about the pricing objectives of the seller?
Pricing objectives are standardized in most industries
pricing objectives reflect the goals the seller wants
Pricing objectives should always include some level profits
priceing objectives should not be overly ambitious
15
Which is NOT one of the 3 classifications of consumer products?
Convenience Items
Shopping Items
Capital Items, these are more B>B instead of B>C
Speciality Items
16
Which of the following should be the first step in the product development process?
Product Ideas
Product testing & test marketing
Concept testing
Screening

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