Which of the following is NOT a factor closely associated with new product success?
familiarity to the company
market need, growth, and size
economic advantage to user
What is the least costly stage of the product development process?
Generally speaking, the organization has to consider three categories of risk in the idea screening phase prior to deciding whether an idea is a viable product concept. These three categories are:
financial, competitive, and strategic
external, managerial, and financial
strategic, market, and internal
environmental, financial, and promotional
strategic, tactical, and operational
A company that manufactures amusement park rides is thinking of developing a thrill ride that tosses its riders overhead and backwards at a force of 2.5 Gs. In the _____ stage of this new product's development, the company's research showed that the ride will not be perceived by amusement park attendees as being significantly different from existing rides. Furthermore, the product cannot be developed in time for the new season and is likely to cost more than the company usually spends on developing a new ride.
For years Russell Stover has been one of the leading producers of boxes of candy, then it decided to introduce a candy bar. Before commercializing the product, the candy manufacturer stocked a make-believe store with several different varieties of candy bars and Russell Stover candy bars. It then invited members of its target audience to make a selection. After making their selections, the participants were asked a series of questions relating to how the purchase decision was made. In terms of the new product development process, this process is an example of:
Which of the following statements about the failure of new products is true?
Problems that lead to a new product's failure are all outside the control of the company that introduced the product.
Cross-functional research does not decrease the likelihood of product failure.
Due to technological advancements in research, faulty marketing research is seldom, if ever, the cause of a new product failure.
The only reason new products fail is because they have been inadequately screened, developed, and marketed.
None of the above statements about the failure of new products is true.
Which of the following products is most likely to use sales promotions?
loudspeaker systems for sports stadiums
a new vaccine to prevent feline leukemia
computer software for designing e-commerce sites
a new self-cleaning cat litter that contains bacteria to consume wastes
The manufacturer of Lane Furniture should offer a $50 rebate on its line of recliner chairs to:
stimulate product demand
keep total costs low
allow for the use of two-way communication
reach many buyers simultaneously
provide a credible promotional message
In the long run and often in the short run, advertising is justified on the basis of:
how it relates to the sales forecast
the revenue it produces
external environmental factors
If you use your computer and your Internet service provider to access information, you may have noticed small ads either at the top of the page or on the side for banks, Internet retailers, consumer products manufacturers, and investment firms. Why do these companies advertise on the Internet?
Internet advertising is interactive and low cost per exposure.
Internet advertising is flexible and personalized.
Internet advertising has geographic selectivity.
Internet advertising has a high pass-along readership.
Internet advertising has a long message life.
Which of the following is the best example of push marketing strategy?
a print ad introducing Burpee.com, a new Web site for amateur gardeners
an ad for Dannon bottled water in a trade journal for supermarket managers
an ad for Celebrex, a prescription drug for arthritis, in Better Homes and Gardens
a radio ad for The Clark Howard Show, a show that provides consumer-oriented advice
an article in Southern Living magazine on the Donvier Premiere Ice Cream Maker
An announcement on the local radio station advising area residents the American Red Cross was holding a blood drive at the First United Methodist Church would be an example of which promotional mix element?
a consumer promotion
a trade promotion
Which of the following is an example of a results-oriented measure for evaluating salespeople?
number of sales calls made
distributor sales-inventory ratios
number of demonstrations completed
how many complaints were handled
uncontrollable job lost time
Josh Goodrich recently sold a first edition of Moby Dick. The book came from a private collector and was purchased by a New England museum. Goodrich acted as a go-between for the buyer and seller and never took actual possession of the valuable book. What marketing intermediary role did Goodrich assume?
If a supermarket chain that was famous for the amount and quality of beef it sold were to buy a cattle ranch to insure it had a steady and constant supply of steaks and roasts, it would be an example of a(n) _____ vertical marketing system.
If a manufacturer desires selective distribution for its line if $300 women's business suits, it would be most likely to choose which of the following types of retailers?
Which of the following statements about price elasticity is true?
You must have historical data to calculate price elasticity.
The price elasticity for a product is not important when making pricing decisions about that product.
Price elasticity can be calculated by surveying a sample from the target market and getting their responses to questions about the relationship between price and purchase quantity.
Price elasticity is unaffected by psychological factors.
The determination of a product's price elasticity is an inexpensive process.
The Phillips flat screen television is in the introductory stage of its product life cycle. If you want to own one of these TV sets, you must be willing to pay $15,000. You can buy a standard TV model that is in the maturity stage for around $500. Since it appears Phillips is intent on recouping its developmental costs, it is using:
Hansen Distributors wholesales products for babies such as strollers, swings, and cribs. In which of the following examples would it be legal for Hansen to use price discrimination?
Hansen has a two-tiered price structure for small and large retailers.
Hansen puts a high price on its products, and then allows the retailer to sell at a lower-than-marked price.
Hansen advertises in a mailing an in-store price that is not available if you order by mail or phone.
Hansen gives a quantity discount to a store chain that orders 20,000 baby swings.
Price discrimination is always illegal.
In a general model for developing pricing strategy, the first step is to:
adopt a customer-orientation
develop a mission statement
set pricing objectives
determine who will be responsible for setting the objectives
engage in market research
Which of the following rules can be used to improve a company's pricing strategy?
Continuously monitor pricing decisions.
Base pricing strategy on intuition and experience.
Realize price elasticities are static.
Recognize buyers typically have one and only one acceptable price for a product.
Remember buyers are not concerned with relative price.
If a restaurant manager is concerned about the inseparability characteristic of service, he would e most concerned about the creation of _____ utility.
form and possession
time and form
time and place
form, time, place, and possession
In which of the following situations would the service provider find that an unconditional guarantee is an effective marketing tool?
Prices are low, and the target market is at the brand awareness stage.
Services are not individualized because buyer resistance is low.
Prices are low because the service cannot be individualized.
Prices are high.
Brand name recognition is achievable through advertising.
To be successful, an internal marketing program must contain:
integrated marketing communications
cooperative, empathetic customers
a carefully designed targeting strategy
an emphasis on teaching employees to have good attitudes.
all of the above
Which of the following statements about how the travel industry deals with service challenges is true?
Internal marketing has not proven to be an efficient strategy for companies in the travel industry.
Unlike other industries, the travel industry is perceived as offering superior service quality.
The travel industry is the leader in the use of technology.
Companies in the travel industry who pay close attention to fluctuating demand and the perishability of services are successful.
The travel industry relies on direct distribution.
- This solution has not purchased yet.
- Submitted On 20 Jun, 2017 10:47:04