Marketing Final Exam

And contrast an express warranty and an implied

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Unformatted text preview: KETS. Local brand names are often used when translation or pronunciation problems occur, when the marketer wants the brand to appear to be a local brand, or when regulations require localization. This could also be a viable alternative for Fluffit. PTS: 1 REF: 168 Communication KEY: CB&E Model Product OBJ: 10-6 TOP: AACSB MSC: BLOOMS Synthesis 15. Compare and contrast an express warranty and an implied warranty. ANS: An express warranty is made in writing and may range from a simple statement to an extensive document. An implied warranty is an unwritten guarantee that the good or service is fit for the purpose for which it was sold. All sales have an implied warranty under the Uniform Commercial Code. PTS: 1 REF: 169 Communication KEY: CB&E Model Product OBJ: 10-7 TOP: AACSB MSC: BLOOMS Synthesis Chapter 11—Developing and Managing Products TRUE/FALSE 1. A product must be a discontinuous innovation to be considered a “new” product. ANS: F There are six categories of new products, only one of which is new-to-the-world discontinuous innovative products. PTS: 1 REF: 171 Thinking KEY: CB&E Model Product OBJ: 11-1 TOP: AACSB Reflective MSC: BLOOMS Comprehension 2. The development of garlic-butter flavored crescent rolls by Pillsbury would not be considered a new product since the company was already making crescent rolls. It would simply be called a line extension. ANS: F Line extensions are considered to be a type of new product. PTS: 1 REF: 171-172 Thinking KEY: CB&E Model Product OBJ: 11-1 TOP: AACSB Reflective MSC: BLOOMS Application 3. Central Bark is a dog day care center. When you check your dog into a Central Bark you know your pooch will be pampered. Since kennels have been boarding dogs for years, the dog day care is not really a new product. ANS: F There are many types of new product ranging from new-to-the-world products to low-price products. PTS: 1 REF: 171-172 Thinking KEY: CB&E Model Product OBJ: 11-1 TOP: AACSB Reflective MSC: BLOOMS Application 4. Very few firms follow a formal new-product development process. ANS: F Most companies follow a formal new-product development process. PTS: 1 REF: 172 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 5. A firm’s new-product strategy links the new-product development process with the objectives of the marketing departments, the business unit, and the corporation. ANS: T PTS: 1 REF: 172 OBJ: 11-2 TOP: AACSB Reflective Thinking Strategy MSC: BLOOMS Comprehension KEY: CB&E Model Product | CB&E Model 6. For a firm that adheres to the product concept, the logical place to start generating new-product ideas is with the customers of the firm. ANS: F Firms adhering the marketing concept logically start generating new-product ideas from customers. PTS: 1 REF: 173 Thinking KEY: CB&E Model Product OBJ: 11-2 TOP: AACSB Reflective MSC: BLOOMS Comprehension 7. The two techniques considered most useful for generating new-p...
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