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Exam 10: Developing New Products and Services

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Question 161

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Using an existing brand name to introduce a product that is new to the company into a totally new,unfamiliar market seems like a good idea.A few years ago,Frito-Lay thought this was a great new-product concept: Why not develop Frito-Lay Lemonade as a thirst-quencher for those consumers who also like Frito-Lay's salty snacks such as Fritos corn chips? But when people think of the brand name "Frito-Lay," thirst-quenching is not a benefit that comes to mind.So the "logic" lost out and Frito-Lay Lemonade failed.This innovation strategy is known as a

A) brand extension.
B) radical invention.
C) product line extension.
D) disruptive innovation.
E) product deletion.

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Question 162

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In which stage in the new-product process would a firm use both a SWOT analysis and environmental scanning to assess its strengths and weaknesses relative to the trends it identifies as opportunities or threats?

A) idea generation
B) screening and evaluation
C) new-product strategy development
D) business analysis
E) development

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Question 163

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In the UMD10: Marketing Dashboard Map above,the annual growth rate in each state is shown,with green (which looks gray on printed paper) meaning good and red (which looks black on printed paper) meaning very bad.If an organization's 2013 sales for the entire U.S.were $50 million and its 2012 U.S.sales were $30 million,what is the annual % sales change?

Business products are also referred to as __________.

A __________ is the marketing term for a good,service,or idea consisting of a bundle of tangible and intangible attributes that satisfy consumers' needs and is received in exchange for money or something else of value.

A product line is a group of product or service items that are closely related because they satisfy a class of needs,are used together,are sold to the same customer group,and are distributed through the same type of outlets,or __________.

One of the eight primary MARKETING-RELATED reasons for new-product failure is __________.

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

The proliferation of extra characteristics in a product that overwhelms many consumers with mind-boggling complexity is referred to as

The first stage of the new-product process is

Industrial products are also referred to as __________ products.

The emphasis of a marketing strategy for a discontinuous innovation would most likely be to

The new-product process an organization goes through to identify business opportunities and convert them into salable products or services contains

Thirsty Dog! is a zesty beef-flavored,vitamin-enriched,mineral-loaded,lightly carbonated bottled water for your dog.It might have been a great product,but competition over shelf space was fierce and the product could not generate enough sales per square foot for retailers.The makers of this product had

A company's product mix is equal to the sum of its

Products organizations buy that assist in providing other products for resale are referred to as __________.

After the new owner purchased a fully equipped yogurt factory,it took a yogurt master a year and a half to come up with the perfect formulation for Chobani Greek Yogurt.The most likely stage of the new-product process during which this time was spent is __________.

One of the eight primary MARKETING-RELATED reasons for new-product failure is __________.

In terms of brand loyalty,consumers are aware of a brand but will readily accept substitutes for which type of product?

In terms of promotion,which of the following type of consumer product stresses product differentiation from competitors?