16) A ________ is the way consumers perceive an actual or
potential product.
A) product idea
B) product concept
C) product image
D) test market
E) concept test
Answer: C
Diff: 2 Page
Ref: 264
Skill: Concept
Objective: 9-2
17) An attractive idea must be developed into a ________.
A) product idea
B) product concept
C) screened product
D) test market
E) product strategy
Answer: B
Diff: 2 Page Ref: 264
Skill: Concept
Objective: 9-2
18) ________ calls for testing new-product concepts with
groups of target consumers.
A) Concept development
B) Concept testing
C) Idea generation
D) Idea screening
E) Test marketing
Answer: B
Diff: 1 Page Ref: 265
Skill: Concept
Objective: 9-2
19) In the concept testing stage of new-product development,
a product concept in ________ form is presented to groups of target consumers.
A) physical or symbolic
B) experiential
C) final
D) market-tested
E) commercial
Answer: A
Diff: 2 Page
Ref: 265
Skill: Concept
Objective: 9-2
20) With what groups do firms conduct concept testing for new
products?
A) suppliers
B) employees
C) target customers
D) manufacturers
E) competitors
Answer: C
Diff: 3 Page Ref: 265
Skill: Concept
Objective: 9-2
21) For some ________, a simple description consisting of a
word or picture might be sufficient.
A) concept tests
B) test markets
C) marketing strategies
D) product developments
E) business analyses
Answer: A
Diff: 2 Page
Ref: 265
AACSB: Communication
Abilities
Skill: Concept
Objective: 9-2
22) After concept testing, a firm would engage in which stage
in developing and marketing a new product?
A) idea screening
B) marketing strategy development
C) business analysis
D) product development
E) test marketing
Answer: B
Diff: 2 Page
Ref: 265
Skill: Concept
Objective: 9-2
23) The first part of the marketing strategy statement
describes the target market; the planned product positioning; and goals for
sales, profits, and ________.
A) market share
B) product longevity
C) secondary markets
D) promotional mixes
E) life-cycle duration
Answer: A
Diff: 3 Page
Ref: 265
Skill: Concept
Objective: 9-2
24) The second part of the marketing strategy statement
outlines the product's planned price, distribution, and ________ for the first
year.
A) advertising
B) promotional mix
C) marketing budget
D) positioning
E) target market
Answer: C
Diff: 3 Page
Ref: 266
Skill: Concept
Objective: 9-2
25) The third part of the marketing strategy statement
includes all of the following EXCEPT ________.
A) long-run sales
B) profit goals
C) marketing mix strategies
D) short-run sales
E) A and C
Answer: D
Diff: 3 Page
Ref: 266
Skill: Concept
Objective: 9-2
26) A review of the sales, costs, and profit projections for
a new product to find out whether they satisfy the company's objectives is
called a ________.
A) business feasibility plan
B) marketing strategy development
C) business analysis
D) product acceptance
E) proposal
Answer: C
Diff: 1 Page
Ref: 266
Skill: Concept
Objective: 9-2
27) During which stage of new-product development will
management most likely estimate minimum and maximum sales to assess the range
of risk in launching a new product?
A) concept testing
B) marketing strategy development
C) business analysis
D) product development
E) test marketing
Answer: C
Diff: 2 Page
Ref: 266
Skill: Concept
Objective: 9-2
28) Once managers of The Grecian Urn have decided on their
product concept and marketing strategy, they can evaluate the business
attractiveness of the proposal in the ________ stage of the new-product
development process.
A) business feasibility
B) feasibility study
C) business analysis
D) product acceptance
E) concept testing
Answer: C
Diff: 2 Page
Ref: 266
Skill: Concept
Objective: 9-2
29) New World Releases is conducting a business analysis to
determine which of the many new songs available to management should be
released. Sales must be estimated before costs can be estimated. Which of the
following did your text recommend for forecasting sales?
A) conducting surveys of competitors
B) considering the history of market opinions
C) considering the sales history of similar products and
conducting surveys of market opinions
D) applying the PLC concept
E) none of the above
Answer: C
Diff: 3 Page
Ref: 266
Skill: Concept
Objective: 9-2
30) Once the product or service passes the business analysis
test, it moves into what stage?
A) concept development
B) product development
C) market testing
D) strategy development
E) product proposal
Answer: B
Diff: 2 Page
Ref: 266
Skill: Concept
Objective: 9-2
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