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Multiple Choice Questions
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1

A good, service, or idea consisting of a bundle of tangible and intangible attributes that can satisfy consumers is called a:
A)nondurable good
B)durable good
C)product
D)commodity
E)consumer good
2

An item consumed in one or a few uses is called a:
A)consumer good
B)commodity
C)product
D)durable good
E)nondurable good
3

Consumer goods are purchased by:
A)business users.
B)ultimate consumers.
C)governments.
D)families.
E)people.
4

Consumer goods are classified as convenience, shopping, specialty and:
A)unsought
B)durable
C)nondurable
D)consumer
E)industrial
5

A consumer good that is usually expensive and is usually found in a very limited number of places, would be a:
A)convenience product
B)shopping product
C)consumer product
D)specialty product
E)unsought product
6

Burial insurance would be an example of what type of consumer good:
A)convenience
B)shopping
C)nondurable
D)specialty
E)unsought
7

A major characteristic of industrial good is that their sales are often the result of:
A)derived demand
B)elastic demand
C)inelastic demand
D)unitary demand
E)arbitrary demand
8

Items that are used to produce other goods and services is this second classification of industrial goods:
A)installation
B)accessory equipment
C)support goods
D)supplies
E)service
9

According to Industry Canada, a product can be labeled new for how long?
A)indefinitely
B)three months
C)twelve months
D)six months
E)not stated
10

Minor changes in behavior constitute what kind of innovation?
A)interactive
B)dynamically continuous
C)discontinuous
D)continuous
E)maturity advancement
11

Products fail because of both marketing and non-marketing factors. Which of the following is a non-marketing factor?
A)insignificant "point of difference"
B)too little market attractiveness
C)poor execution of marketing mix
D)bad timing
E)government restrictions are imposed
12

The development of a successful new product may sometimes involve luck. More often it involves a product that has a significant product differences over competition and:
A)meets a need.
B)is priced right.
C)is well promoted.
D)has good packaging.
E)is sold right.
13

Idea generation is the                     stage of the new - product strategy development program.
A)1st
B)2nd
C)3rd
D)4th
E)5th
14

3M have been very successful in introducing new products. That success has been attributed to their use of:
A)research teams
B)development teams
C)cross-functional teams
D)well financed R&D department
E)luck
15

Consumer complaints or problems are often used by companies to discover:
A)derived customer demand
B)complimentary demand
C)what they are doing right
D)new product opportunities
E)they are in the wrong market
16

The scoring and evaluation stage of the new product process can be done:
A)internally or externally
B)by anyone
C)after the business analysis
D)before idea generation
E)during commercialization
17

The last checkpoint before significant capital is invested in a prototype in the new product process is:
A)screening and evaluation
B)business analysis
C)development
D)market testing
E)commercialization
18

A product is often developed and tested, then                     .
A)commercialized
B)expect failure
C)insured
D)screened
E)redesigned and tested again
19

A potential commercialization disaster was averted by Coca-Cola when the company:
A)changed the name of New Coke.
B)modified the bottle shape.
C)launched a new advertising campaign.
D)reintroduced old Coke.
E)pulled New Coke from less successful markets.
20

The purpose of this stage is to "position and offer product in the market place" using perceptual maps and regional rollouts.
A)commercialization
B)market testing
C)business analysis
D)idea generation
E)development





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