Marketing Final Exam

cbe model strategy top aacsb reflective msc blooms

Info iconThis preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: ysis 15. A(n) _____ links the new-product development process with the objectives of the marketing department, the business unit, and the corporation. a. product-review committee b. concept test c. episodic innovation d. new-product strategy e. product strategy bridge ANS: D This is the definition of new-product strategy. PTS: 1 REF: 172 OBJ: 11-2 Thinking KEY: CB&E Model Product | CB&E Model Strategy TOP: AACSB Reflective MSC: BLOOMS Knowledge 16. The first stage of the new-product development process is: a. screening and concept testing b. establishing the new-product strategy c. exploring opportunities d. developing a business analysis e. the building of a prototype ANS: B See Exhibit 11.1. New-product strategy is the first subset of the organization’s new-product development plan. It specifies what roles new products play in the organization’s overall plan and describes goals. PTS: 1 REF: 172 Thinking KEY: CB&E Model Product 17. A new-product strategy: a. b. c. d. e. OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Knowledge links the new-product development process with the objectives of the marketing department, the business unit, and the corporation is part of an organization’s overall marketing strategy specifies the roles new products play in the organization’s overall plans describes the characteristics of products the organization wants to offer and the markets it wants to serve is accurately described by all of these ANS: E All of these statements accurately describe a new-product strategy. PTS: 1 REF: 172-173 OBJ: 11-2 TOP: AACSB Reflective Thinking KEY: CB&E Model Product | CB&E Model Strategy MSC: BLOOMS Analysis 18. Which of the following is the LEAST likely source for new-product ideas? a. A company’s distributors b. Its customers c. Its employees d. Its financial lenders e. Its competitors ANS: D Customers, employees, distributors, and competitors are interacting with the marketplace and may have ideas for goods to serve customer needs. The bank from which the company gets its debt financing is the least likely alternative here. PTS: 1 REF: 173 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Analysis 19. A manufacturer of office furnishings is finding it difficult to compete with cheaper imported merchandise. Which of the following is a potential source of new-product ideas that would allow it to compete more effectively? a. Current retailers who carry the manufacturer’s equipment b. Its foreign competitors c. The company’s employees d. Customers who have requested its catalogs e. All of these ANS: E Customers, employees, distributors, and competitors are interacting with the marketplace and may have ideas for goods to serve customer needs. PTS: 1 REF: 173 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Application 20. The process of converting applications for new technologies into marketable products is called: a. basic research b. produc...
View Full Document

This document was uploaded on 09/29/2013.

Ask a homework question - tutors are online