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general business data bank

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Question;1);What are the two ways that a company can obtain new products?;A);line extension and brand management;B);internal development and brand management;C);new-product development and acquisition;D);service development and product extension;E);market mix modification and research and development;2);Product improvements, product modifications, and original products can all be;classified as ________.;A);pioneer products;B);new products;C);product concepts;D);product ideas;E);test products;3);Which of the following is NOT a potential reason for a new product to fail?;A);an underestimated market size;B);a poorly designed product;C);an incorrectly positioned product;D);higher than anticipated costs of product development;E);ineffective advertising;4);Which of the following is NOT a challenge presented by the product life cycle;that a firm must face?;A);All products eventually decline.;B);Changing tastes, technologies, and competition affect the marketing of the;product as it passes through lifecycle stages.;C);A firm must be good at developing new products to replace aging ones.;D);A firm must be good at adapting its marketing strategies.;E);It is difficult to plot the stages as a product goes through them.;5);The creation of a successful new product depends on a company's understanding;of its ________ and its ability to deliver ________ to customers.;A);competitors, distributors, and employees, new styles;B);customers, brands, products, product images;C);customers, competitors, and markets, superior value;D);product, marketing mix, and marketing strategy, functional features;E);product life cycle, legal responsibilities, and social responsibilities;innovations;6);A ________ is the way consumers perceive an actual or potential product.;A);product idea;B);product concept;C);product image;D);test market;E);concept test;7);An attractive idea must be developed into a ________.;A);product idea;B);product concept;C);product image;D);test market;E);product strategy;8);calls for testing new-product concepts with groups of target;consumers.;A);Concept development;B);Concept testing;C);Idea generation;D);Idea screening;E);Test marketing;9);In the concept testing stage of new-product development, a product concept in;form is presented to groups of target consumers.;A);physical or symbolic;B);prototype;C);final;D);market-tested;E);commercial;10) With what groups do firms conduct;concept testing for new products?;A);suppliers;B);employees;C);target customers;D);manufacturers;E);competitors;11) Following the decision to;time" the introduction of the new product, a company must decide;to launch the new product.;A);where;B);how;C);to what degree;D);why;E);all of the above;12) Which of the following is necessary;for successful new-product development?;A);a holistic and sequential product development approach;B);a customer-centered, team-based, systematic approach;C);a team-based, innovation-management approach;D);a market pioneer mindset and a holistic approach;E);an innovation management system and sequential product development;13) Which stage of the new-product;development process focuses on finding new ways to solve customer problems and;create more customer-satisfying experiences?;A);concept testing;B);new-product development;C);customer-centered new-product development;D);sequential product development;E);team-based new-product development;14) ________ is a new-product development;approach in which one company department works to complete its stage of the;process before passing the new product along to the next department and stage.;A);Team-based product development;B);Simultaneous product development;C);Sequential product development;D);Product life-cycle analysis;E);Micromarketing;15) In order to get their new products to;market more quickly, many companies are adopting a faster, team-oriented;approach called ________.;A);simulated new-product development;B);sequential product development;C);team-based new-product development;D);phased-in new-product development;E);market development;16) Which stage of the typical consumer;product life cycle is out of order below?;A);product development;B);introduction;C);maturity;D);growth;E);decline;17) Which of the following CANNOT be;described using the PLC concept?;A);product class;B);product form;C);product image;D);brand;E);styles;18) All of the following are accurate;descriptions of a style product, EXCEPT which one?;A);Style products appear in home, clothing, and art.;B);Once a style is invented, it may last for generations.;C);A style has a cycle showing several periods of renewed interest.;D);Styles last only a short time and tend to attract only a limited following.;E);Styles are basic and distinctive modes of expression.;19) The PLC concept can be applied by;marketers as a useful framework for describing how ________.;A);to forecast product performance;B);to develop marketing strategies;C);products and markets work;D);concept testing is conducted;E);product ideas are developed;20) Using the PLC concept to develop;marketing strategy can be difficult because strategy is both a ________ and;a(n) ________ of the product's life cycle.;A);mirror image, cause;B);cause, result;C);result, mirror image;D);beginning, end;E);purpose, effect;21) Manufacturers must comply with;specific laws regarding ________.;A);price structures;B);product quality and safety;C);product placement;D);distribution channels;E);product life cycles;22) Because of ________, a company cannot;make its product illegally similar to a competitor's already established product.;A);anti-monopoly laws;B);patent laws;C);the Consumer Product Safety Act;D);product warranties;E);product liability;23) Which of the following best describes;the role of a product steward?;A);to protect consumers from harm;B);to evaluate new-product ideas against a set of general criteria;C);to develop a new-product concept into a physical product;D);to protect the company from liability by identifying and solving potential;product problems;E);A and D;24) The advantages of standardizing an;international product include all of the following EXCEPT ________.;A);the development of a consistent image;B);lower product design costs;C);the adaptation of products to different markets;D);decreased manufacturing costs;E);lower marketing costs;25) Because names, labels, and colors may;not easily translate from one country to another, international marketers must;carefully assess ________.;A);product standardization;B);market rollout;C);the product life cycle;D);packaging;E);styles;26) Blair Housewares wants to add new;lines of products to its 46-store chain. Managers are correct in believing that;the purpose of idea generation is to create a few ideas, and the purpose of;succeeding stages is to increase that number.;27) A product idea is an idea for a;possible product a company can offer the market, while a product concept is a;detailed version of the idea stated in meaningful consumer terms.;28) Concept testing works best with;people who are familiar with the new idea and the new product's purpose. This;generally includes top management, the sales force, and research and;development.;29) GreenTree Lawn and Garden Products is;engaged in marketing strategy development. Management should first create a;statement outlining the product's planned price, distribution, and marketing;budget for the first year.;30) GreenTree Lawn and Garden Products is;engaged in a review of the sales, costs, and profit projections for some new;products to find out whether they satisfy the company's objectives. This;activity is called business product development.

 

Paper#47210 | Written in 18-Jul-2015

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