Question 1

The three main considerations in structuring a channel of distribution are cost, coverage, and customer service.

Accepted Answer

A) True 
 B)False

Question 2

Given the complexity of the task, entrepreneurs must use an attorney to conduct a trademark search.

Accepted Answer

A) True 
 B)False

Question 3

Since Love Languages has decided to sell its tutoring service on CD's through an online site as well as the traditional format of personal tutors, they are relying on

Accepted Answer

A)   a direct channel of distribution.
B)   an indirect channel of distribution.
C)   a dual distribution channel.
D)   a multiple-outlet distribution channel.

Question 4

F.O.B. origin, freight collect, is a delivery term that shifts all responsibility for freight costs to the buyer.

Accepted Answer

A) True 
 B)False

Question 5

The business analysis stage of new product development is critical since

Accepted Answer

A)   one to three years may pass before profits are realized.
B)   it is hard to attract the 10 percent of the total market that is needed for a new product success.
C)   products often fail in laboratory and marketing testing.
D)   All of the above support the importance of the business analysis stage.

Question 6

Match the term with its definition.
-A company that provides transportation and distribution services to firms that prefer to focus their efforts on their primary operations

Accepted Answer

A)  Agents/brokers
B)  Common carriers
C)  Contract carriers
D)  Distribution
E)  Dual distributionF) Merchant middlemenG) PatentH) Physical distribution (logistics) I) Plant patentJ) Private carriersK) Supply chain managementL) Third-party logistics firm

Question 7

Products must be carefully analyzed in terms of financial considerations in the _____ stage of the product development process.

Accepted Answer

A)   business analysis
B)   idea accumulation
C)   product testing
D)   physical product development

Question 8

Match the term with its definition.
-A system of management that integrates and coordinates the ways in which a firm finds the raw materials to make a product, creates the product, delivers it to customers, and receives payment for it

Accepted Answer

A)  Agents/brokers
B)  Common carriers
C)  Contract carriers
D)  Distribution
E)  Dual distributionF) Merchant middlemenG) PatentH) Physical distribution (logistics) I) Plant patentJ) Private carriersK) Supply chain managementL) Third-party logistics firm

Question 9

The product life cycle and competitive advantage life cycle differ in that the product life cycle reflects trends for a specific product or service, whereas the competitive advantage life cycle is based on multiple products or services.

Accepted Answer

A) True 
 B)False

Question 10

How can a successfully growing firm fall into a growth trap?

Accepted Answer

Many factors must be considered and mana...

Question 11

A utility patent covers the appearance of a product and everything that is an inseparable part of the product.

Accepted Answer

A) True 
 B)False

Question 12

A brand includes the verbal identification of a product, as well as symbols or other means of identifying a product.

Accepted Answer

A) True 
 B)False

Question 13

The activities of physically moving a product is

Accepted Answer

A)   channel management.
B)   distribution.
C)   logistics.
D)   supply chain management.

Question 14

Joe has redesigned an app that helps businesses organize their taxes after a rival gained market share. The IRS and the Society of Certified Public Accountants have said the app meets tax standards. The app would be considered a(n)

Accepted Answer

A)   sustainable competitive advantage.
B)   strategic alliance.
C)   competitive adjustment.
D)   business process reengineering.

Question 15

The product life cycle, as opposed to the competitive advantage life cycle,

Accepted Answer

A)   helps an entrepreneur visualize the sales and profits of a product from the time it is introduced until it is no longer on the market.
B)   details when a strength can be used in the market and when not to attack a rival.
C)   reflects sales trends for the company's multiple products or services.
D)   is based on the overall sales of the total product or service line.

Question 16

Match the term with its definition.
-The overall perception of a brand

Accepted Answer

A)  Brand
B)  Brand image
C)  Brand name
D)  Brandmark
E)  Design patentF) Direct channelG) Indirect channelH) PatentI) Service markJ) Trade dressK) TrademarkL) Utility patent

Question 17

Devon has registered protection for 14 years that covers his product's inseparable parts. Devon owns a:

Accepted Answer

A)   design patent.
B)   plant patent.
C)   utility patent.
D)   Two of the above are correct.

Question 18

Arden has designed an artistic design to complement his product's name to assist customers in identifying his product. These are commonly as referred to as a:

Accepted Answer

A)   brand.
B)   trademark.
C)   service mark.
D)   trade dress.

Question 19

Physical distribution of products includes only transportation.

Accepted Answer

A) True 
 B)False

Question 20

Match the term with its definition.
-Transportation intermediaries that contract with individual shippers

Accepted Answer

A)  Agents/brokers
B)  Common carriers
C)  Contract carriers
D)  Distribution
E)  Dual distributionF) Merchant middlemenG) PatentH) Physical distribution (logistics) I) Plant patentJ) Private carriersK) Supply chain managementL) Third-party logistics firm

Exam 15: Product Development and Supply Chain Management

How can a successfully growing firm fall into a growth trap?

Correct AnswerverifiedMany factors must be considered and mana...View AnswerShow Answer

Match the term with its definition. -Transportation intermediaries that contract with individual shippers

Correct AnswerverifiedShow Answer

The product life cycle, as opposed to the competitive advantage life cycle,

Correct AnswerverifiedShow Answer

Match the term with its definition. -A system of management that integrates and coordinates the ways in which a firm finds the raw materials to make a product, creates the product, delivers it to customers, and receives payment for it

Correct AnswerverifiedShow Answer

Physical distribution of products includes only transportation.

Correct AnswerverifiedShow Answer

Joe has redesigned an app that helps businesses organize their taxes after a rival gained market share. The IRS and the Society of Certified Public Accountants have said the app meets tax standards. The app would be considered a(n)

Correct AnswerverifiedShow Answer

Since Love Languages has decided to sell its tutoring service on CD's through an online site as well as the traditional format of personal tutors, they are relying on

Correct AnswerverifiedShow Answer

F.O.B. origin, freight collect, is a delivery term that shifts all responsibility for freight costs to the buyer.

Correct AnswerverifiedShow Answer

The three main considerations in structuring a channel of distribution are cost, coverage, and customer service.

Correct AnswerverifiedShow Answer

The product life cycle and competitive advantage life cycle differ in that the product life cycle reflects trends for a specific product or service, whereas the competitive advantage life cycle is based on multiple products or services.

Correct AnswerverifiedShow Answer

Devon has registered protection for 14 years that covers his product's inseparable parts. Devon owns a:

Correct AnswerverifiedShow Answer

Arden has designed an artistic design to complement his product's name to assist customers in identifying his product. These are commonly as referred to as a:

Correct AnswerverifiedShow Answer

Products must be carefully analyzed in terms of financial considerations in the _____ stage of the product development process.

Correct AnswerverifiedShow Answer

A brand includes the verbal identification of a product, as well as symbols or other means of identifying a product.

Correct AnswerverifiedShow Answer

Given the complexity of the task, entrepreneurs must use an attorney to conduct a trademark search.

Correct AnswerverifiedShow Answer

Match the term with its definition. -A company that provides transportation and distribution services to firms that prefer to focus their efforts on their primary operations

Correct AnswerverifiedShow Answer

Match the term with its definition. -The overall perception of a brand

Correct AnswerverifiedShow Answer

The activities of physically moving a product is

Correct AnswerverifiedShow Answer

The business analysis stage of new product development is critical since

Correct AnswerverifiedShow Answer

A utility patent covers the appearance of a product and everything that is an inseparable part of the product.

Correct AnswerverifiedShow Answer

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Many factors must be considered and mana...
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