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Terms in this set [61]
A good is a product that is defined as having ________ attributes.
tangible
What are the two broad product categories, related to the type of user, that are widely used in marketing?
business products
consumer
products
What type of consumer product is characterized by relatively inexpensive items with widespread availability?
convenience products
An new dishwasher would be considered which type of consumer product?
shopping product
A[n] ________ is a type of product that has tangible attributes that a consumer's five senses can perceive.
good
Richard likes to smoke tobacco from a pipe. However, he is very particular about which pipes he uses. He will only buy pipes made of mahogany and that have an amber or ivory stem, even though these pipes are the most expensive. What type of consumer product does this represent?
specialty product
________ products are purchased by the ultimate consumer, whereas ________ products are purchased by organizations to assist them in providing other products for sale.
Consumer; business
A product ________ is a specific product that has a unique brand, size, or price.
item
What three items are classified as consumer products.
convenience products
specialty products
shopping products
A desire to keep products seeming new encourages the proliferation of extra features in what is known as ______.
feature bloat
A convenience product is one that the consumer ______.
buys frequently and with little effort
What are the classifications of new products based upon the learning required of the consumer? [Select all that apply]
Discontinuous innovation
Dynamically continuous innovation
Continuous innovation
Tonya needs to buy a new laptop. She compares models from Apple, Dell, and Hewlett-Packard on criteria such as processor speed, memory, screen size, and price. What type of consumer product does this represent?
shopping product
What type of consumer product will a consumer make a special effort to search out and buy, such as a luxury automobile or designer watch?
specialty product
For ordering and inventory purposes, each product ________ has a separate stock keeping unit [SKU].
item
For which type of innovation will consumer education be most important, perhaps requiring personal selling to gain product trial?
discontinuous innovation
A company that continually adds more features to an existing product to try to appeal to more customers may end up overwhelming customers and create an unintended consequence known as ______.
feature fatigue
A ________ is a pre-development statement that identifies a target market, customer needs, and what the product will be or do.
protocol
The categories of continuous innovation, dynamically continuous innovation, and discontinuous innovation are based on levels of consumer ______.
learning
What type of consumer product is characterized by the consumer comparing several alternatives on criteria such as price, quality, or style?
shopping products
Less than ________ of new consumer package goods exceed first-year sales for $50 million - the benchmark for a successful launch.
3%
What must the consumer learn about when a new product is a discontinuous innovation? [Select all that apply]
the proper use of the product
an initial awareness of the product
the benefits of the product
What should be included in a protocol for new product development? [Select all that apply]
what
the product will be and do
a well-defined target market
specific customer needs, wants, and preferences
How many steps are in the new-product development process?
seven
In which stage of the new-product process does an organization use a SWOT analysis and develop a product protocol?
New-product strategy development
The use of open innovation can be useful in the ________ stage of the new-product process because it helps organizations find and execute product concepts externally and overcome the associated not-invented-here barriers.
idea generation
What statement characterizes new products in the marketplace?
It is rare for a new product to be commercially successful.
For which type of innovation will consumer education be most important, perhaps requiring personal selling to gain product trial?
discontinuous innovation
Select three stages that are part of the new-product development process.
commercialization
market testing
idea
generation
In the ________ stage of the new-product process an organization defines the role of a new product in terms of the firm's overall objectives.
new-product strategy development
The open innovation technique that involves generating insights based on ideas from massive numbers of people is called ______.
crowdsourcing
________ is the stage of the new-product process that results in a pool of concepts to serve as candidates for new products.
Idea generation
Organizations may rely on new products coming from its own design group of engineers. These employees make up what department in an organization?
research and development
________ is the stage of the new-product development process that internally and externally analyzes new-product ideas to eliminate those that warrant no further effort.
Screening and evaluation
A firm that uses crowdsourcing will generate product ideas ______.
from massive amounts of customers or suppliers who respond to a firm's specific question
________, the process of managing consumers' interactions with the company, can be helpful to consider when organizations are screening new service ideas in the new-product process.
Customer experience management
The design for Apple's iPad, iPhone, and iMac came from Apple's own industrial design group. What department in an organization does this represent?
research and development
Concept tests in the screening and evaluation stage of the new-product process rely on written descriptions, sketches, or mock-ups rather than ________ to solicit feedback from potential consumers.
actual products
What statement characterizes new products in the marketplace?
It is rare for a new product to be commercially successful.
During concept testing, new-product ideas are presented to _______ to obtain their reactions.
potential consumers
The new-product process stage of screening and evaluation involves
determining which ideas should be eliminated from further effort.
The ________ stage of the new-product development process assesses the total "business fit" of the proposed new product with the company's mission and objectives.
business analysis
An organization may consider principles of customer experience management as it examines its employee commitment and skills in the internal approach of the ________ stage of the new-product process.
screening and evaluation
External evaluations in the screening and evaluation stage of the new-product process often involve ________, consisting of preliminary testing of a new-product idea rather than an actual product.
concept tests
Manufacturing the product efficiently and performing laboratory and consumer tests to ensure it meets protocol standards are part of which stage of the new-product process?
development
In ____ testing, a written new-product idea rather than an actual product is presented to potential consumers to obtain their reactions.
concept
Considering whether a new product will require new machinery to produce, has the potential to cannibalize existing products, or if it will require new patents occurs during which stage of the new-product development process?
business analysis
________ is the stage of the new-product development process that involves exposing actual products to prospective consumers under realistic purchase conditions to see if they will buy.
Market testing
________ is the stage of the new-product process in which an idea is turned into a prototype.
Development
Offering a product for sale on a limited basis in a defined area is called marketing.
test
During concept testing, new-product ideas are presented to _______ to obtain their reactions.
potential consumers
When Subway introduced a new Southwestern Club sandwich in south Florida before launching it nationwide, it was engaging in ______.
standard test marketing
Market testing involves exposing ______ product to ______.
the actual product; prospective customers
Which two are types of tests available to organizations during the market testing stage of the new-product process?
standard test markets
controlled test markets
A company will engage in test marketing in order to ______.
determine whether consumers will actually buy the product
Marketers often look for cities that are viewed as being representative of U.S. consumers in terms of their demographic variables when they conduct ______.
market tests.
When a company develops a product and then attempts to sell it through normal distribution channels in a number of test-market cities, it is engaged in ______.
standard test marketing
The new-product process stage of market testing involves which two items?
using realistic purchase conditions to see if consumers will buy
exposing actual products to prospective consumers
What occurs during the commercialization stage of the new-product development process?
launching full-scale production for a new product
What are two desirable characteristics when choosing a test market for a new product?
Multiple select question.
cable system that is able to deliver different advertising to different homes
city population that is demographically representative of target market
The new-product process stage of_____ involves positioning and launching a new product in full-scale production and sales.
commercialization
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