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| 1 | |
_____________________________ turns ideas into tangible products. |
| | A) | Marketing |
| | B) | Technological research |
| | C) | Reverse engineering |
| | D) | Viral marketing |
| | E) | Marketing research |
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| 2 | |
Firms may choose to market current products to current customers or to take the same product to similar customers. Otherwise, to succeed they must: |
| | A) | seek government subsidies. |
| | B) | innovate. |
| | C) | repackage old products. |
| | D) | create new advertising messages |
| | E) | develop an exit strategy. |
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| 3 | |
Atari was a pioneer in the electronic game market, which: |
| | A) | allowed competitors to focus on creating demand for their brand. |
| | B) | paved the way for Nintendo in that product category. |
| | C) | allowed other competing firms to spend less on introductory advertising. |
| | D) | allowed competitors to focus on making improved versions. |
| | E) | all of the above. |
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| 4 | |
Consumers who feel the need to be the first to see a new movie, try a new restaurant, own a piece of new technology or wear the latest fashion accessory are crucial to the success of any new product for they help the product gain market acceptance. They are known as: |
| | A) | pioneers. |
| | B) | groundbreakers |
| | C) | fashion-forwards |
| | D) | innovators |
| | E) | early adopters |
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| 5 | |
Relative advantage, compatibility, observability and trialability affect _______________________ |
| | A) | how quickly an innovative product will be accepted by a market. |
| | B) | the way a new product can be promoted. |
| | C) | whether distributors or brokers should be the focus of the distribution channel. |
| | D) | price. |
| | E) | the kind of marketing research that can be conducted. |
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| 6 | |
Which of the following is NOT one of the steps in the Product Development Process? |
| | A) | Idea generation |
| | B) | Concept testing |
| | C) | Market testing |
| | D) | Evaluation of results |
| | E) | New product promotion |
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| 7 | |
When Diego and his team took apart the competitor's product, analyzed it and tried to create an improved product that does not infringe on the competitor's patents, they were engaged in the process of ______________________. |
| | A) | spinning |
| | B) | reverse engineering |
| | C) | product dissection |
| | D) | product cloning |
| | E) | creative destruction |
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| 8 | |
Which of the following is NOT one of the options available to a marketer during the product design stage of the Product Development Process? |
| | A) | developing a prototype |
| | B) | alpha testing |
| | C) | beta testing |
| | D) | virtual testing |
| | E) | concept testing |
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| 9 | |
When quick service restaurants come up with new offerings, they often market it in a dozen or so of their outlets. When they do this, they are engaged in: |
| | A) | pretesting |
| | B) | product launch |
| | C) | test marketing |
| | D) | product development |
| | E) | evaluation of results |
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| 10 | |
In the Product Development Process, the step that requires tremendous financial resources and extensive coordination of all aspects of the marketing mix is _________________. |
| | A) | pretesting |
| | B) | product launch |
| | C) | test marketing |
| | D) | product development |
| | E) | evaluation of results |
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| 11 | |
Steven is assessing the results of a recent new product launch of high end speakers for an electronics store. When evaluating the results, he will likely consider: |
| | A) | where in the store to display the new product line. |
| | B) | are the speakers generating the expected level of profit. |
| | C) | are the speakers generating the expected level of sales. |
| | D) | are customers interested in the new product. |
| | E) | all of the above. |
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| 12 | |
Which of the following is the correct order for the product life cycle? |
| | A) | introduction, maturity, decline, growth. |
| | B) | introduction, growth, maturity, decline. |
| | C) | introduction, growth, decline, maturity. |
| | D) | growth, introduction, maturity, decline. |
| | E) | decline, growth, introduction, maturity. |
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| 13 | |
One of the challenges of using the product life cycle as a tool in marketing is: |
| | A) | that it is difficult to tell with precision where a product is in the cycle. |
| | B) | there is little empirical support that the idea is valid. |
| | C) | the steps are not always sequential, as when the maturity phase immediately follows introduction. |
| | D) | strategies and tactics are not clearly associated with the various stages. |
| | E) | All of the above. |
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