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| 1 | |
The Vermont Teddy Bear Company sells handmade Teddy bears designed to be given as gifts for almost every occasion imaginable. For the Vermont Teddy Bear Company, Teddy bears are an example of a __________. |
| | A) | product class |
| | B) | product mix |
| | C) | product line |
| | D) | marketing category |
| | E) | product category |
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| 2 | |
Advertising is important for products such as Lay’s Potato Chips and Coca Cola drinks that are purchased frequently and at relatively low cost. Wide distribution in retail outlets is also essential. Why? |
| | A) | They are specialty goods and can easily go out of stock |
| | B) | They are unsought goods so advertising targets consumers' impulsiveness |
| | C) | They are non-durable goods and easily substitutable so consumers need to be reminded of their existence |
| | D) | They are shopping goods and can easily go out of stock |
| | E) | They are semi-durable goods and advertising helps to maintain high inventories |
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| 3 | |
Classification of products by degree of __________ divides them into three categories. They are non-durable goods, durable goods and services. |
| | A) | consumption |
| | B) | tangibility |
| | C) | liquidity |
| | D) | porosity |
| | E) | value |
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| 4 | |
Which of the following is an example of a purchase of industrial goods? |
| | A) | A warehouse purchasing an automated storage and retrieval system |
| | B) | A printing company buying paper |
| | C) | An accounting firm buying a new computer system |
| | D) | A construction company buying nails |
| | E) | All of the above are examples of a purchase of industrial goods |
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| 5 | |
With respect to distribution, convenience goods are available __________. |
| | A) | at relatively few outlets |
| | B) | at a large number of selective outlets |
| | C) | by special order from the manufacturer |
| | D) | at a very limited number of outlets |
| | E) | on a widespread basis at many outlets |
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| 6 | |
You decide to buy a new car. You talk to friends about it, research mechanical specifications in Consumer Reports, test drive different makes and models and compare prices at several dealerships. Into which classification of consumer goods would your new car purchase fall? |
| | A) | Convenience goods |
| | B) | Specialty goods |
| | C) | Shopping goods |
| | D) | Unsought goods |
| | E) | Derived goods |
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| 7 | |
Items used in the manufacturing process that become part of the final product are called __________. |
| | A) | production goods |
| | B) | supplies |
| | C) | specialty goods |
| | D) | accessory equipment |
| | E) | support goods |
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| 8 | |
A retail chain hires a company to design and install a computer network that would allow each store in the chain to check the inventory of others in the chain for customer-requested items. The retail chain would have purchased __________. |
| | A) | accessory equipment |
| | B) | industrial services |
| | C) | supply materials |
| | D) | component parts |
| | E) | fabricating services |
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| 9 | |
Which of the following is NOT an attribute of a new product? |
| | A) | The product is less than 6 months old |
| | B) | The product requires a significant degree of "new" learning by consumers |
| | C) | The product is "new" in legal terms |
| | D) | The product is "new" from a competitor's perspective |
| | E) | The product is "new" from the organization's perspective |
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| 10 | |
Which of the following products is the best example of the lowest level of risk from the company's point of view? |
| | A) | Crunch Cheerios in the Cheerios series |
| | B) | Land-line telephones to cell phones |
| | C) | The original Apple computer |
| | D) | Fax machines |
| | E) | All of the above would represent low levels of risk to the company that introduced them |
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| 11 | |
The first plasma flat-panel TV is an example of which type of innovation? |
| | A) | Continuous innovation |
| | B) | Dynamically continuous innovation |
| | C) | Discontinuous innovation |
| | D) | Insignificant innovation |
| | E) | Interruptive innovation |
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| 12 | |
The emphasis of a marketing strategy for a discontinuous innovation would most likely be to __________. |
| | A) | generate awareness among consumers and obtain widespread distribution |
| | B) | advertise benefits to consumers, stressing point of differentiation and consumer advantage |
| | C) | educate consumers about entirely new consumption patterns through product trial and personal selling |
| | D) | obtain widespread distribution |
| | E) | stress price differentials |
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| 13 | |
Suppose that you are a marketing consultant hired to analyze why a new disposable mop did not sell, despite the fact that there are several very successful disposable mops on the market. Which of the following would most likely be the reason for the mop's failure? |
| | A) | Poor product quality |
| | B) | Insignificant point of difference compared to other disposable mops |
| | C) | Bad timing |
| | D) | Poor execution of the marketing mix |
| | E) | Any of the above |
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| 14 | |
Several years ago, General Mills introduced Fingos, a sweetened cereal flake about the size of a corn chip. Consumers were supposed to snack on them dry, but they didn't. What was the most likely reason the product failed? |
| | A) | Poor product quality |
| | B) | Insignificant point of difference |
| | C) | Too little market attractiveness |
| | D) | Poor execution of the marketing m
ix |
| | E) | No economical access to buyers |
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| 15 | |
One cause for product failure is incomplete market and product definition before product development starts. This problem can be avoided if the company developing the new product has __________. |
| | A) | a static organizational culture |
| | B) | top-management involvement in the development process |
| | C) | a marketer-dominated source of information for consumers |
| | D) | a protocol |
| | E) | a product definition |
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| 16 | |
Which of the following statement is true of new-product failures? |
| | A) | Insignificant point of difference is a common cause |
| | B) | No economical access to buyers is a common cause |
| | C) | Poor product quality is a common cause |
| | D) | Too little market attractiveness is a common cause |
| | E) | All the above statements are true. |
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| 17 | |
Assume that, as marketing director for Mazda, you see your sales decreasing in the years since the Honda Pilot with four-wheel drive was introduced. If you hope to regain sales in this market quickly through a new-product action, the most valuable sources of ideas would be __________. |
| | A) | consumer suggestions |
| | B) | employee suggestions |
| | C) | research and development breakthroughs |
| | D) | competitive products |
| | E) | outside consultants |
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| 18 | |
Imagine you work for a production company that has been approached by one of the networks to develop a concept for a new reality show. These seem to be the years of the reality television shows—just like not too long ago there were several new shows modeled after Friends. Where are you and your co-workers most likely to look first for a concept? |
| | A) | Conducting a survey of Nielsen families |
| | B) | By observing what's on television |
| | C) | Through research and development |
| | D) | By relying on brainstorming |
| | E) | Through all of the above sources |
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| 19 | |
New-product strategy development calls for INGenius ATG to develop a battery recycler for the business market. Which is the most likely stage of the new-product process that design of the product becomes an especially important element? |
| | A) | Development |
| | B) | Market testing |
| | C) | Idea generation |
| | D) | Screening and evaluation |
| | E) | Business analysis |
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| 20 | |
Breyer's introduced a new line of ice cream flavors for sale in elegant black containers. This was done on a limited scale to determine consumer reactions before national distribution of the product. Breyer's new product was in the __________ stage of the new-product process. |
| | A) | commercialization |
| | B) | screening and evaluation |
| | C) | business analysis |
| | D) | development |
| | E) | market testing |
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