Exam (elaborations) MAR 3023( MAR 3023) Exam. Questions and Answers. Chapter 11:Developing and Managing Goods and Services | Florida Atlantic University

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Exam (elaborations) MAR 3023( MAR 3023) Exam. Questions and Answers. Chapter 11:Developing and Managing Goods and Services | Florida Atlantic University. 1. Compare and contrast line extensions and pr ... oduct modifications. ANS: Answer not provided. PTS: 1 DIF: Moderate OBJ: 11-01 Understand how companies manage existing products through line extensions and product modifications. NAT: AACSB: Analytic | MKTG: Product MSC: Knowledge 2. Identify and describe the three major ways to modify existing products, and give an example of each. ANS: Answer not provided. PTS: 1 DIF: Easy OBJ: 11-01 Understand how companies manage existing products through line extensions and product modifications. NAT: AACSB: Analytic | MKTG: Product MSC: Knowledge 3. List and discuss the major phases of the new-product development process. ANS: Answer not provided. PTS: 1 DIF: Moderate OBJ: 11-02 Describe how businesses develop a product idea into a commercial product. NAT: AACSB: Communication | MKTG: Product MSC: Knowledge 4. Discuss the role of new-product development in the marketing mix. Why is new-product development an important issue? ANS: Answer not provided. PTS: 1 DIF: Difficult OBJ: 11-02 Describe how businesses develop a product idea into a commercial product. NAT: AACSB: Analytic | MKTG: Product | MKTG: Strategy MSC: Knowledge 5. What is concept testing, and why is it important? ANS: Answer not provided. PTS: 1 DIF: Easy OBJ: 11-02 Describe how businesses develop a product idea into a commercial product. NAT: AACSB: Communication | MKTG: Product | MKTG: Strategy MSC: Knowledge 6. Discuss the advantages and problems associated with test marketing. ANS: Answer not provided. PTS: 1 DIF: Easy OBJ: 11-02 Describe how businesses develop a product idea into a commercial product. NAT: AACSB: Analytic | MKTG: Product | MKTG: Strategy MSC: Knowledge 7. What is commercialization, and how is it achieved? ANS: Answer not provided. PTS: 1 DIF: Easy OBJ: 11-02 Describe how businesses develop a product idea into a commercial product. NAT: AACSB: Communication | MKTG: Product | MKTG: Strategy MSC: Knowledge 8. Discuss the major approaches that marketers use to differentiate their products. ANS: Answer not provided. PTS: 1 DIF: Moderate OBJ: 11-03 Know the importance of product differentiation and the elements that differentiate one product from another. NAT: AACSB: Analytic | MKTG: Product | MKTG: Strategy MSC: Knowledge 9. Why and how might an organization delete existing products? ANS: Answer not provided. PTS: 1 DIF: Moderate OBJ: 11-05 Understand how product deletion is used to improve product mixes. NAT: AACSB: Analytic | MKTG: Product | MKTG: Strategy MSC: Knowledge 10. Why is it often difficult for organizations to delete products? ANS: Answer not provided. PTS: 1 DIF: Moderate OBJ: 11-05 Understand how product deletion is used to improve product mixes. NAT: AACSB: Analytic | MKTG: Product | MKTG: Strategy MSC: Knowledge 11. Discuss the importance of services in the U.S. economy, and explain the growth of services in our economy. ANS: Answer not provided. PTS: 1 DIF: Moderate OBJ: 11-06 Understand the characteristics of services and how these characteristics present challenges when developing marketing mixes for service products. NAT: AACSB: Analytic | MKTG: Product MSC: Knowledge 12. List and explain the six distinguishing characteristics of service products. Then discuss some of the marketing issues and problems associated with each characteristic. ANS: Answer not provided. PTS: 1 DIF: Moderate OBJ: 11-06 Understand the characteristics of services and how these characteristics present challenges when developing marketing mixes for service products. NAT: AACSB: Communication | MKTG: Product MSC: Knowledge MULTIPLE CHOICE 13. Why are line extensions more common than new products? a. They are higher risk and more expensive. b. They are guaranteed to succeed in the marketplace. c. They are less expensive and lower-risk. d. They require no market research. e. Modifications to existing products are very easy. ANS: C PTS: 1 DIF: Moderate OBJ: 11-01 Understand how companies manage existing products through line extensions and product modifications. NAT: AACSB: Analytic | MKTG: Product MSC: Knowledge 14. Coca-Cola has expanded to Diet Coke, Cherry Coke, and Caffeine-free Coke, to name a few. These are examples of a. product modifications. b. functional modifications. c. aesthetic modifications. d. line extensions. e. product lining. ANS: D PTS: 1 DIF: Easy OBJ: 11-01 Understand how companies manage existing products through line extensions and product modifications. NAT: AACSB: Analytic | MKTG: Product | MKTG: Strategy MSC: Application 15. A(n) ____ is the development of a product that is closely related to one or more products in the existing product line but is designed specifically to meet somewhat different needs of customers. a. product modification b. line extension c. quality modification d. functional development e. aesthetic extension ANS: B PTS: 1 DIF: Easy OBJ: 11-01 Understand how companies manage existing products through line extensions and product modifications. NAT: AACSB: Reflective Thinking | MKTG: Product [Show More]

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