Chapter 12 – MindTap – Flashcards

Your family's business has two ideas for new cooler products: - One is a super-rugged, well-insulated cooler that can keep food and drink cool in any weather and in any situation, from campgrounds to fishing boots and beyond. - A second is a small, lightweight cooler with room for a sandwich, drink, and dessert, decorated with licensed cartoon characters, for children to use for school lunches, picnics, school trips, and so on. This is where you need to know more about new-product development.You are in the first phase of new-product development, idea generation. The last phase, commercialization, is where you actually put the product onto the market. What happens in between? Choose the option from the drop-down menu that would best complete each passage: - During the _____ phase, you could ask consumers to react to written descriptions of each product. - Examining the sales potential, estimated costs, and profitability of the new product occurs during the _____ phase. - During the _____, you may look at consumer needs, environmental trends, and the resources that your family's business has to develop to introduce those products. - Trying the new product with different marketing mixes to gauge customer reaction occurs during the _____ phase. - Creating a prototype and assessing the practicality of the product occurs during the _____ phase.WORD BANK: product development, screening, business analysis, test marketing, concept testing

Daimler has been marketing the Smart mini-car for a number of years, targeting drivers in urban areas who want a small vehicle to maneuver around city streets and fit into tight parking spots. The original Smart car was a two-seat vehicle. Daimler now has an electric version of the two-seat Smart car and a convertible. Very soon, it will introduce a four-seat Smart car, in partnership with Renault. The automaker is also marketing Smart-brand electric bicycles and scooters for city use. Marketing two-wheeled vehicles—scooters and bicycles—lowers the price tag and eliminates the need for a driver's license. Moreover, this showcases Daimler's expertise in city transport and supports earth-friendly objectives. Assume Daimler has hired you to work on its marketing team for Smart vehicles. You know that the existing products and new products often need different marketing plans. How would you categorize the following Smart-brand vehicles? Choose the option from the drop-down menu whether each of the following products is a line extension, product modification, or a new product: - An electric Smart bicycle is an example of a _____. - A four-seat Smart car is an example of a _____. - A two-wheel Smart scooter is an example of a _____. - A Smart convertible two-seat car is an example of a _____. - An electric Smart two-seat car is an example of a _____. - A redesigned Smart two-seat car is an example of a _____. WORD BANK: line extensions, product modification, new product

Daimler has been marketing the Smart mini-car for a number of years, targeting drivers in urban areas who want a small vehicle to maneuver around city streets and fit into tight parking spots. The original Smart car was a two-seat vehicle, and it has been a phenomenal success for Daimler. In an effort to expand on this success, Daimler has embarked on a redesign of the Smart two-seat car. You have been hired to lead the redesign effort. You and your team have come up with a long list of possible modifications for the Smart two-seat car. - Offering trendy platinum and bronze as two options for the body color of the car is a(n) _____ type of product modification. - Making the engine last longer through better engineering is a(n) _____ type of product modification. - Redesigning the interior with glove-leather seats and mahogany dashboard trim is a(n) _____ type of product modification. - Replacing the brakes with new power-assisted antilock brakes designed for city driving is a(n) _____ type of product modification. - Building in a back-up warning light and signal, plus a viewing screen to help drivers park safely is a(n) _____ type of product modification. - Adding an onboard iPad in the console is a(n) _____ type of product modification. WORD BANK: quality, functional, aesthetic

Daimler has been marketing the Smart mini-car for a number of years, targeting drivers in urban areas who want a small vehicle to maneuver around city streets and fit into tight parking spots. The original Smart car was a two-seat vehicle, and it has been a phenomenal success for Daimler. In an effort to expand on this success, Daimler has embarked on a redesign of the Smart two-seat car. You have been hired to lead the redesign effort. You and your team have come up with a long list of possible modifications for the Smart two-seat car. Daimler has decided to accept all of your modification ideas for redesigning the Smart car. This will give you a number of ways of differentiating your product during the re-launch and later. Given Daimler's reputation for engineering expertise, you're thinking about emphasizing product quality. - If the redesigned Smart car comes out on top in a European Union test of engine power, your product differentiation should focus on _____. - If none of the redesigned Smart car vehicles requires service under the 100,000-mile warranty, your product differentiation should focus on _____. WORD BANK: consistency of quality, perception of quality, high quality, level of quality

More AXE products are on the way, year by year. AXE's latest products include an alliance with Schick to market AXE-brand razors for men. The product mix also includes AXE Face Line products such as facial cleansers for men. As with other AXE products, the Face Line products are being promoted through social media to reach the target market of young men, who are heavy users of Facebook, Tumblr, and other social networking sites. You have just joined the marketing team for AXE, to help plan for the development and management of its products. Think about how to help AXE increase revenues and compete against rivals. You have brainstormed a number of product positioning possibilities for AXE. These different positioning possibilities relate to different basis for positioning. - AXE razors help you look stylish and sexy. This is a product positioning possibility that is based on _____. - AXE razors are better for sensitive skin than Gillette. This is a product positioning possibility that is based on _____. - AXE razors offer the latest shaving technology. This is a product positioning possibility that is based on _____. - AXE razors come in various fashion colors. This is a product positioning possibility that is based on _____. - AXE razors give you a close shave for that special occasion. This is a product positioning possibility that is based on _____. - AXE razors are designed especially for young skin. This is a product positioning possibility that is based on _____. WORD BANK: head-to-head competition, product benefit, target market, product attribute

With 34,000 restaurants worldwide and a daily customer count of 69 million people, McDonald's manages its product mix to generate excitement, combat competition, and encourage return visits. In recent years, McDonald's has introduced dozens of items in its menu including McWrap sandwiches, Quarter Pounder variations, spicy chicken wings, and refreshing fruit smoothies. Some of these started in the kitchens of local franchises, some came out of the executive chef's headquarters kitchen, and some were the result of experiments in the company's regional "food studios." Although the McWrap has been a big hit, not all McDonald's products succeed. The Arch Deluxe hamburger, an upscale burger launched in 1996 with a multimillion dollar marketing program, didn't live up to the sales expectations and was quietly taken off the menu. Now the company is looking at menu changes to give sales and profits a boost. You are part of the company's marketing team, working on developing and managing menu items for the company's U.S. restaurants. The McWrap has been selling well, and you want to build on that success by modifying the product in some way. Your boss wants to keep the price of the sandwich steady, and not significantly disrupt kitchen operations at individual restaurants. You and your colleagues have come up with three possible product modifications for the McWrap. Choose the type of product modification from the drop-down menu that corresponds to each of the possible product modifications that you are proposing for the McWrap: - Offering chicken wraps made entirely from locally grown and locally purchased food products, for the freshest-possible ingredients is an example of a(n) _____ type of product modification. - Offering "make your own" wrap stations where customers can select their own vegetables to go with the chicken, and wrap everything up in the tortilla of their choice is an example of a(n) _____ type of product modification. - Offering barbecue-spiced chicken wraps is an example of a(n) _____ type of product modification. WORD BANK: quality, functional, aesthetic

With 34,000 restaurants worldwide and a daily customer count of 69 million people, McDonald's manages its product mix to generate excitement, combat competition, and encourage return visits. In recent years, McDonald's has introduced dozens of items in its menu including McWrap sandwiches, Quarter Pounder variations, spicy chicken wings, and refreshing fruit smoothies. Some of these started in the kitchens of local franchisees, some came out of the executive chef's headquarters kitchen, and some were the result of experiments in the company's regional "food studios." You are part of the company's marketing team, working on developing and managing menu items for the company's U.S. restaurants. One of the new chicken sandwiches has been selling well in one or two states but not across the country. There are three options for deleting a poorly performing product from a company's product mix; phase-out, run-out or immediate drop. Select the most appropriate product deletion option for each passage: - Retain marketing support where the sandwich is still selling well to spark sales, while withdrawing marketing support in areas where sales are weak is an example of the _____ product deletion option. - Instead of trying to reinvigorate the product, leave it as it is and leave the marketing as it is until sales die out on their own is an example of the _____ product deletion option. - Remove the sandwich from the market right away to save money is an example of the _____ product deletion option. WORD BANK phase-out, run-out, immediate drop

You are working with the inventor of a new, easy-to-use Find-All gadget that helps consumers find their gadgets. Whether a cell phone gets lost under the driver's seat in the car or the TV remote control slips down under the cushions of the couch, this new Find-All product will help consumers find their lost gadgets. Consumers just stick a tiny microchip on the gadgets they want to locate when they go missing, click a button on the Find-All (which looks like a miniature smartphone), and each gadget is registered with its own tiny icon on the Find-All's screen. To locate a lost gadget, the customer touches the icon of that gadget on the Find-All's screen, and an arrow appears, pointing the consumer in the direction to walk or look for the gadget. As the consumer gets closer to the lost gadget, the arrow grows larger in size until it's blinking to indicate the lost gadget is less than one foot away. The inventor, who is funding this product with his savings, has a working prototype that has been functioning well for months. He wants to move ahead with the product. You are the marketer. Assume you and the inventor have already test marketed the Find-All, and you have perfected the prototype. The inventor was also able to attract significant investment to support full-scale production and marketing. Now you are hearing rumors that another manufacturer is developing something similar to the Find-All and will introduce it within six months. You and the inventor have brainstormed four possible actions. - If you minimize risk and protect the marketing investment by first introducing the Find-All in the investor's hometown, followed by cities in the surrounding area, and then other states, then you are using the _____ method. - If you work with local and regional retailers to introduce the product across the country in 12 months, supported by low-cost publicity and social media marketing, then you are using the _____ method. - If you arrange for two national retailers to introduce the product in their stores region by region, completing the entire launch within four months, then you are using the _____ method. - If you launch the product throughout the Northeast and on the West Coast, wait several months to assess the marketing, and then slowly launch in the interior of the country, then you are using the _____ method. WORD BANK: gradual introduction, national roll-out

- A _____ is responsible for a single brand. - A _____ creates entirely new products that may be aimed at new markets. - A _____ is responsible for a product, a product line, or several distinct products that make up an interrelated group within a multiproduct organization. - A _____ is responsible for managing the marketing activities that serve a particular group of customers.WORD BANK: product manager, brand manager, market manager, venture team

Your family's business has two ideas for new cooler products: - One is a super-rugged, well-insulated cooler that can keep food and drink cool in any weather and in any situation, from campgrounds to fishing boots and beyond. - A second is a small, lightweight cooler with room for a sandwich, drink, and dessert, decorated with licensed cartoon characters, for children to use for school lunches, picnics, school trips, and so on. This is where you need to know more about new-product development.As you work your way through the business analysis and test marketing phases of the new-product development process you must address a variety of questions related to your proposed new product.Select the question below that relates to the business analysis phase of the New-Product Development Process. A. Will special in-store displays enhance sales? B. How long will it take for us to break-even on this new product? C. What markets are best for our test marketing campaign? D. Which one among the two ads is the most effective in building awareness and stimulating purchases? E. Do buyers see enough value in the product that they will pay a premium price for it?

Your family's business has two ideas for new cooler products: - One is a super-rugged, well-insulated cooler that can keep food and drink cool in any weather and in any situation, from campgrounds to fishing boots and beyond. - A second is a small, lightweight cooler with room for a sandwich, drink, and dessert, decorated with licensed cartoon characters, for children to use for school lunches, picnics, school trips, and so on. This is where you need to know more about new-product development.As you work your way through the business analysis and test marketing phases of the new-product development process you must address a variety of questions related to your proposed new product.Select the question below that relates to the test marketing phase of the New-Product Development Process. A. Is the potential demand for the cooler strong enough to generate enough revenues to exceed the expenses related to the cooler? B. What expenses will we incur to manufacture the new cooler in large quantities? C. Are there note-worthy seasonal or demographics-related buying trends associated with the product? D. How many units of the new cooler can we expect to sell during the first and second year? E. Will technological advances make the production process more efficient in the next few years?

More AXE products are on the way, year by year. AXE's latest products include an alliance with Schick to market AXE-brand razors for men. The product mix also includes AXE Face Line products such as facial cleansers for men. As with other AXE products, the Face Line products are being promoted through social media to reach the target market of young men, who are heavy users of Facebook, Tumblr, and other social networking sites. You've just joined the marketing team for AXE, to help plan for the development and management of its products. Think about how to help AXE increase revenues and compete against rivals. Your first task is to look at AXE's positioning, starting with a perceptual map of the market for AXE razors for men. Your goal is to understand young men's preferences relative to this type of product to position the product appropriately. Bearing in mind what you know about AXE, which one of the following attributes would you not consider for the dimensions of your perceptual map? A. For young men/For older men B. Expensive/Inexpensive C. For sensitive skin/Not for sensitive skin D. For date nights/For everyday use E. Fits a small hand/Fits a large hand

You are part of the company's marketing team, working on developing and managing menu items for the company's U.S. restaurants. The McWrap has been selling well, and you want to build on that success by modifying the product in some way. Your boss wants to keep the price of the sandwich steady, and not significantly disrupt kitchen operations at individual restaurants. You and your colleagues have come up with three possible product modifications for the McWrap. Which one of the three product modifications do you think would be the most appropriate given the preferences expressed by your boss? A. Offer "make your own" wrap stations where customer can select their own vegetables to go with the chicken, and wrap everything up in the tortilla of their choice. B. Offer barbecue-spiced chicken wraps. C. Offer chicken wraps made entirely from locally grown and locally purchased food products, for the freshest-possible ingredients.

With 34,000 restaurants worldwide and a daily customer count of 69 million people, McDonald's manages its product mix to generate excitement, combat competition, and encourage return visits. In recent years, McDonald's has introduced dozens of items in its menu including McWrap sandwiches, Quarter Pounder variations, spicy chicken wings, and refreshing fruit smoothies. Some of these started in the kitchens of local franchisees, some came out of the executive chef's headquarters kitchen, and some were the result of experiments in the company's regional "food studios." You are part of the company's marketing team, working on developing and managing menu items for the company's U.S. restaurants. Four local franchisees have submitted new product ideas for consideration as the next nationally-marketed breakfast sandwich. You are assigned to screen these ideas. Select the question that is most appropriate to ask during the screening phase of the new-product development process: A. Can McDonald's restaurant replicate this new product quickly and profitably? B. Where can this product be tested outside the franchise's immediate market area? C. How will different packaging and pricing affect demand for this product? D. How can McDonald's position this product within its product mix? E. Will McDonald's have to permanently install a significant amount of cooking equipment and hire a specialized cook to create this new breakfast sandwich?

You are working with the inventor of a new, easy-to-use Find-All gadget that helps consumers find their gadgets. Whether a cell phone gets lost under the driver's seat in the car or the TV remote control slips down under the cushions of the couch, this new Find-All product will help consumers find their lost gadgets. Consumers just stick a tiny microchip on the gadgets they want to locate when they go missing, click a button on the Find-All (which looks like a miniature smartphone), and each gadget is registered with its own tiny icon on the Find-All's screen. To locate a lost gadget, the customer touches the icon of that gadget on the Find-All's screen, and an arrow appears, pointing the consumer in the direction to walk or look for the gadget. As the consumer gets closer to the lost gadget, the arrow grows larger in size until it's blinking to indicate the lost gadget is less than one foot away. The inventor, who is funding this product with his savings, has a working prototype that has been functioning well for months. He wants to move ahead with the product. You are the marketer. You advise the inventor to test market the Find-All. Which of the following specific test marketing strategies do you think is the most appropriate for this situation? A. Approach a major electronics retailer about selling the product in its store during the Christmas shopping season and then assess the results. B. Choose two or three major cities, such as Chicago or Houston, to determine demand and to test market mix alternatives on a larger scale. C. Bring the product to a dozen shopping centers outside a major city and ask consumers to take one home, use it for two weeks, and participate in a follow-up interview.

More AXE products are on the way, year by year. AXE's latest products include an alliance with Schick to market AXE-brand razors for men. The product mix also includes AXE Face Line products such as facial cleansers for men. As with other AXE products, the Face Line products are being promoted through social media to reach the target market of young men, who are heavy users of Facebook, Tumblr, and other social networking sites. You have just joined the marketing team for AXE, to help plan for the development and management of its products. Think about how to help AXE increase revenues and compete against rivals. You are now looking at developing a new AXE facial cleanser especially formulated for men. You and your team have screened a number of ideas and settled on testing the concept of a facial cleanser that would feel non-greasy, have a refreshing fragrance (like all AXE products), and soothe sensitive or problem skin. The question "How do you think this product would compare with face soap?" will help you understand the "ideal points" you can use to refine the concept and plan for its positioning. A. True B. False

More AXE products are on the way, year by year. AXE's latest products include an alliance with Schick to market AXE-brand razors for men. The product mix also includes AXE Face Line products such as facial cleansers for men. As with other AXE products, the Face Line products are being promoted through social media to reach the target market of young men, who are heavy users of Facebook, Tumblr, and other social networking sites. You have just joined the marketing team for AXE, to help plan for the development and management of its products. Think about how to help AXE increase revenues and compete against rivals. You are now looking at developing a new AXE facial cleanser especially formulated for men. You and your team have screened a number of ideas and settled on testing the concept of a facial cleanser that would feel non-greasy, have a refreshing fragrance (like all AXE products), and soothe sensitive or problem skin. The question "What do you especially like about this facial cleanser product?" will help you understand the "ideal points" you can use to refine the concept and plan for its positioning. A. True B. False

More AXE products are on the way, year by year. AXE's latest products include an alliance with Schick to market AXE-brand razors for men. The product mix also includes AXE Face Line products such as facial cleansers for men. As with other AXE products, the Face Line products are being promoted through social media to reach the target market of young men, who are heavy users of Facebook, Tumblr, and other social networking sites. You have just joined the marketing team for AXE, to help plan for the development and management of its products. Think about how to help AXE increase revenues and compete against rivals. You are now looking at developing a new AXE facial cleanser especially formulated for men. You and your team have screened a number of ideas and settled on testing the concept of a facial cleanser that would feel non-greasy, have a refreshing fragrance (like all AXE products), and soothe sensitive or problem skin. The question "how many of your friends have tried facial cleansers?" will help you understand the "ideal points" you can use to refine the concept and plan for its positioning. A. True B. False

More AXE products are on the way, year by year. AXE's latest products include an alliance with Schick to market AXE-brand razors for men. The product mix also includes AXE Face Line products such as facial cleansers for men. As with other AXE products, the Face Line products are being promoted through social media to reach the target market of young men, who are heavy users of Facebook, Tumblr, and other social networking sites. You have just joined the marketing team for AXE, to help plan for the development and management of its products. Think about how to help AXE increase revenues and compete against rivals. You are now looking at developing a new AXE facial cleanser especially formulated for men. You and your team have screened a number of ideas and settled on testing the concept of a facial cleanser that would feel non-greasy, have a refreshing fragrance (like all AXE products), and soothe sensitive or problem skin. The question "how much would you expect to pay for a 10-oz. tube of this cleanser?" will help you understand the "ideal points" you can use to refine the concept and plan for its positioning. A. True B. False

More AXE products are on the way, year by year. AXE's latest products include an alliance with Schick to market AXE-brand razors for men. The product mix also includes AXE Face Line products such as facial cleansers for men. As with other AXE products, the Face Line products are being promoted through social media to reach the target market of young men, who are heavy users of Facebook, Tumblr, and other social networking sites. You have just joined the marketing team for AXE, to help plan for the development and management of its products. Think about how to help AXE increase revenues and compete against rivals. You are now looking at developing a new AXE facial cleanser especially formulated for men. You and your team have screened a number of ideas and settled on testing the concept of a facial cleanser that would feel non-greasy, have a refreshing fragrance (like all AXE products), and soothe sensitive or problem skin. The question "What color tube would attract you to this product?" will help you understand the "ideal points" you can use to refine the concept and plan for its positioning. A. True B. False

More AXE products are on the way, year by year. AXE's latest products include an alliance with Schick to market AXE-brand razors for men. The product mix also includes AXE Face Line products such as facial cleansers for men. As with other AXE products, the Face Line products are being promoted through social media to reach the target market of young men, who are heavy users of Facebook, Tumblr and other social networking sites. You've just joined the marketing team for AXE, to help plan for the development and management of its products. Think about how to help AXE increase revenues and compete against rivals. You are now looking at developing a new AXE facial cleanser especially formulated for men. You and your team have screened a number of ideas and settled on testing the concept of a facial cleanser that would feel non-greasy, have a refreshing fragrance (like all AXE products), and soothe sensitive or problem skin. The question "What fragrances would appeal to you in a facial cleanser?" will help you understand the "ideal points" you can use to refine the concept and plan for its positioning. A. True B. False

More AXE products are on the way, year by year. AXE's latest products include an alliance with Schick to market AXE-brand razors for men. The product mix also includes AXE Face Line products such as facial cleansers for men. As with other AXE products, the Face Line products are being promoted through social media to reach the target market of young men, who are heavy users of Facebook, Tumblr, and other social networking sites. You have just joined the marketing team for AXE, to help plan for the development and management of its products. Think about how to help AXE increase revenues and compete against rivals. You are now looking at developing a new AXE facial cleanser especially formulated for men. You and your team have screened a number of ideas and settled on testing the concept of a facial cleanser that would feel non-greasy, have a refreshing fragrance (like all AXE products), and soothe sensitive or problem skin. The question "What ideas do you have for a new facial cleanser?" will help you understand the "ideal points" you can use to refine the concept and plan for its positioning. A. True B. False

You are contemplating making a job change and you recently came across a job posting for a brand manager position at the Panda Restaurant Group. The job posting reads as follows: Panda Restaurant Group includes the original Panda Inn fine dining restaurants, Panda Express, our gourmet Chinese food concept served in a fast casual environment, and Hibachi San, our Japanese grill concept. The brand manager position is responsible for providing input to the company's overall brand strategy, developing menu concepts and items, and building the business case for proposed concepts. - Leads cross-functional teams involving Field Marketing, Product Development, Operations, and Supply Chain Management to determine the feasibility and costs associated with producing a new product under the Panda brand is an example of the _____ phase of the new-product development process. - Manages major projects involving the financial analysis of new menu items and product improvement suggestions that enhance the Panda brand in the marketplace. Primary focus is on determining to what degree the new menu items will contribute to the company's profits is an example of the _____ phase of the new-product development process. - Conducts restaurant guest research in select markets to collect guest reactions to new dishes tested in the stores and determine if the guests are likely to purchase the product is an example of the _____ phase of the new-product development process. - Develops product ideas from a variety of internal sources including Product Innovation, Field Marketing, and external consumer market research is an example of the _____ phase of the new-product development process. WORD BANK: idea generation, screening, concept testing, business analysis, product development, test marketing, commercialization

It is your first day on the job at Safeway, Inc. in Pleasanton, California and you just entered the company cafeteria to have lunch. You are anxious to make new friends at your new company, so you ask a group of three individuals sitting together if you can join them. They say yes. You introduce yourself and tell the group what your new job responsibilities are. They welcome you to Safeway, and each of them gives you a brief overview of what they do. - Jane says: "I spend most of my time thinking of creative marketing initiatives targeted at our corporate customers. I really like my job." Based on this description, Jane's job title is, most likely, a _____. - Sam says: "My friends call me "Select Sam" because I am responsible for all the activities associated with managing the Safeway Select brand of products. Would you like a sample of our bologna?" Based on this description, Sam's job title is, most likely, a _____. Marilyn says: "I wear warm clothes every day because I spend a lot of my time in freezers since I am responsible for managing all of Safeway's freezer products. My friends call me the 'Eskimo'." Based on this description, Marilyn's job title is, most likely, a _____. WORD BANK: product manager, market manager, brand manager

Imagine that you owned your own company and you are continually trying to grow (and maintain) your products' market share against stiff competition. We have discussed how important it is for companies to effectively manage their products so that they remain competitive. However, in terms of product modifications, the way that this management process is accomplished will be a function of the type of products and customers that a company has. - If your company makes computer printers, then your product modifications are most likely to be _____. - If your company makes women's shoes, then your product modifications are most likely to be _____. - If your company makes file cabinets, then your product modifications are most likely to be _____. - If your company makes frozen food entrees, then your product modifications are most likely to be _____. - If your company makes sunglasses, then your product modifications are most likely to be _____. - If your company makes lawn fertilizer, then your product modifications are most likely to be _____. WORD BANK: quality, functional, aesthetic

You are a senior marketing consultant with McKinsey and Company and you are currently on assignment at a major technology company. This consulting assignment is typical in that it requires you to utilize your many years of experience in marketing to provide hands-on guidance to the company's marketing team on critical projects. On the other hand, your assignment is atypical in that it also requires you to essentially act as a teacher to the junior marketing staff on a variety of marketing concepts and principles. You and the rest of the marketing team are having your monthly team meeting to discuss current projects, and to allow you to provide some instructional guidance to the junior marketing staff members. - Team member #1 said: "Maybe it's just my perception, but it seems like most of the trade publications that I read consistently give us low marks on how our products look and feel. I think we need to re-evaluate our product design process." This statement is most closely related to the concept of _____. - Team member #2 said: "The annual product quality ratings just came out and our flagship product slipped 10 places in the rankings. It seems like from year-to-year we just can't seem to maintain a stable ranking on this list." This statement is most closely related to the concept of _____. - Team member #3 said: "I visited some stores this week, and I am happy to say that the new tablet computer is selling like hotcakes. Based on my conversations with some of the store managers, we could sell a lot more if we offer a version of the product specifically for students." This statement is most closely related to the concept of _____. - Team member #4 said: "I just finished compiling and summarizing the customer feedback questionnaires that we received last quarter. One thing that stands out from the responses is that our customers don't think our products are any different than our competitors. I think that is a problem for us." This statement is most closely related to the concept of _____. WORD BANK: line extension, product differentiation, consistency of quality, styling

Apple Computer is widely lauded for its innovative product development and marketing. It seems as if the company introduces a new product almost every three to six months. But, are these product introductions really new products or are they simply line extensions or modifications to existing products? Review the list of product events below and indicate whether the event qualifies as a new product introduction, a line extension, or a product modification: In 1991, Apple debuted a line of PowerBooks, the 100, 140, and 170. It enabled the company to capture a huge chunk of the laptop market of the early '90s. A. Product Modification B. Line Extension C. New Product

Apple Computer is widely lauded for its innovative product development and marketing. It seems as if the company introduces a new product almost every three to six months. But, are these product introductions really new products or are they simply line extensions or modifications to existing products? Review the list of product events below and indicate whether the event qualifies as a new product introduction, a line extension, or a product modification: In 1999, the iBook line of laptops was introduced. They were designed as a lower-cost alternative to the PowerBooks aimed at the entry-level and education markets. A. Product Modification B. Line Extension C. New Product

Apple Computer is widely lauded for its innovative product development and marketing. It seems as if the company introduces a new product almost every three to six months. But, are these product introductions really new products or are they simply line extensions or modifications to existing products? Review the list of product events below and indicate whether the event qualifies as a new product introduction, a line extension, or a product modification: In 20001, the new PowerBooks were a marked design improvement on the previous models. Using titanium cases through 2003 and then switching to aluminum. A. New Product B. Product Modification C. Line Extension

Apple Computer is widely lauded for its innovative product development and marketing. It seems as if the company introduces a new product almost every three to six months. But, are these product introductions really new products or are they simply line extensions or modifications to existing products? Review the list of product events below and indicate whether the event qualifies as a new product introduction, a line extension, or a product modification: In 1999, the first line of computers to run OS X, the Power Mac G4 was introduced. It was Apple's line of "Supercomputers". A. New Product B. Product Modification C. Line Extension

Five years ago, you graduated from business school, and you and your buddies all vowed to launch a new high technology product by the end of your fifth year out of school. So, you all pooled your talents and started a company with the intention of launching a new headset product that can significantly enhance the functionality of the Apple iPhone. You have a strategy-planning meeting, and everyone has something to say relative to the new product development process that you are currently going through. Which of the following statements is most likely to be made by a member of the team during the business analysis phase of the New-Product Development process? A. All of these statements could be made by members of the team during the business analysis phase. B. "My best friends are now all engineers since I have spent so much time with them over the last few months working on prototype after prototype..." C. "I have been up all night crunching numbers trying to determine how many of these devices we will need to sell in order to break-even." D. "I just flew back from two weeks in Seattle where we are trying out our product in the area to see what kind of market reaction we are likely to get...."

You are a product manager at BlackBerry Ltd., and your team is exploring ways to improve one of your best-selling smartphone products, the BlackBerry Q10. To facilitate this effort, you organized a consumer survey where you asked loyal customers of the BlackBerry Q10 to give you some suggestions for how you could make the product better. The survey group submitted the list of proposed product suggestions on the following pages. Based on your understanding of the different types of product modifications, indicate which type of modification the survey suggestion relates to: "I would like to see the Q10 offered in more colors, including solids and patterns. Maybe even color patterns that match the colors of the college I attended. That would be so cool." A. Aesthetic B. Functional C. Quality

You are a product manager at BlackBerry Ltd., and your team is exploring ways to improve one of your best-selling smartphone products, the BlackBerry Q10. To facilitate this effort, you organized a consumer survey where you asked loyal customers of the BlackBerry Q10 to give you some suggestions for how you could make the product better. The survey group submitted the list of proposed product suggestions on the following pages. Based on your understanding of the different types of product modifications, indicate which type of modification the survey suggestion relates to: "I travel with my Q10 regularly, and I would love it if you could double the battery life. That would save me a lot of dead phone time while I am in the field." A. Aesthetic B. Functional C. Quality

You are a product manager at BlackBerry Ltd., and your team is exploring ways to improve one of your best-selling smartphone products, the BlackBerry Q10. To facilitate this effort, you organized a consumer survey where you asked loyal customers of the BlackBerry Q10 to give you some suggestions for how you could make the product better. The survey group submitted the list of proposed product suggestions on the following pages. Based on your understanding of the different types of product modifications, indicate which type of modification the survey suggestion relates to: "I have cracked three Q10s in the last year by dropping them while walking down the street. Do you think you could improve the material that you use to make the Q10 so that it doesn't crack so easily when dropped?" A. Functional B. Aesthetic C. Quality

You are a business marketing student, and just like everyone else, you are also a consumer. However, the major difference between you and most other consumers is that you now have a better understanding of what businesses do to encourage you to buy their products. You are an 'informed' consumer. You received a free sample of a new laundry detergent in the mail today. In the mailer, you were offered a $25 discount coupon if you would log-on to the company's website and give your feedback on whether you would buy this new product. Which marketing strategy, tactic, concept, or technique is this company mostly likely using in this scenario to influence your buying decision? A. Test Marketing B. Run-Out C. Product Modification D. Business Analysis E. Immediate Drop

You are a business marketing student, and just like everyone else, you are also a consumer. However, the major difference between you and most other consumers is that you now have a better understanding of what businesses do to encourage you to buy their products. You are an 'informed' consumer. You just noticed an Apple Computer commercial on TV where the company announced that for the next 30 days, you can buy the 2nd generation model of the iPhone for 75% off the original price. The latest iPhone is the 5th generation model. Which marketing strategy, tactic, concept or technique is this company most likely using in this scenario to influence your buying decision? A. Test Marketing B. Run-Out C. Product Modification D. Immediate Drop E. Business Analysis

You are about to begin your holiday shopping, and you are making a list of who you will buy presents for, and what you think they each want most in the products you buy for them. You try to recall the comments that you received from these individuals last year after they opened your presents. These comments should help you remember what product characteristics are most important to each of them. The comment "I love the new microwave you bought for me. I just love products made by that company because I know they will last for a long time and keep functioning the way that they are supposed to function." is most likely to be made by someone for whom consistency of quality is the most important product characteristic. A. True B. False

You are about to begin your holiday shopping, and you are making a list of who you will buy presents for, and what you think they each want most in the products you buy for them. You try to recall the comments that you received from these individuals last year after they opened your presents. These comments should help you remember what product characteristics are most important to each of them. The comment "Dad, thank you so much for the cool smartphone. You chose my favorite color and the model you got is the prettiest one they have." is most likely to be made by someone for whom consistency of quality is the most important product characteristic. A. True B. False

The development of a product that is closely related to one or more products in the existing product line but designed specifically to meet somewhat different customer needs is called: A. brand extension. B. diversification. C. line extension. D. product modification. E. product differentiation.

When the management at Frank's Fries, a fast-food chain, realized that customers had lost their loyalty to the brand's long-standing classic, the chicken burger, the chain introduced an innovative "do-it-yourself" burger that allowed customers to choose from a wide range of fillings. The innovation of the "do-it-yourself" burger at Frank's Fries exemplifies _____. A. diversification B. product bundling C. brand extension D. brand dilution E. line extension

_____ are changes that affect a product's versatility, effectiveness, convenience, or safety. A. Functional modifications B. Line extensions C. Product differentiations D. Quality modifications E. Aesthetic modifications

Richard owns a specialty tea shop. He regularly changes the flavors of the fruit tea, a huge draw in the tea shop, to reflect the taste of fruits in season. This change in the fruit tea flavor to reflect the seasonal change is an example of: A. line extension B. quality modification C. functional modification D. aesthetic modification E. product differentiation

A disadvantage of aesthetic modification is that: A. their value is determined subjectively by customers. B. they do not help firms in differentiating their products. C. their appeal is limited only to the physical appearance of a product. D. they do not help firms in gaining sizable market share. E. they tend to maximize the amount of illegal product counterfeiting.

_____ is the first phase of the new-product development process. A. Business analysis B. concept testing C. Test marketing D. Idea generation E. Screening

Which of the following is the final phase of the typical new-product development process? A. Product development B. Concept testing C. Commercialization D. Business analysis E. Test marketing

Most new-product ideas are rejected during the _____ phase of the new-product development process, and the ideas with the greatest potential are selected for further review. A. product development B. commercialization C. test marketing D. screening E. concept testing

_____ is a low-cost procedure that allows a company to determine customers' initial reactions to a product idea before it invests considerable resources in research and development. A. Concept testing B. Commercialization C. Test marketing D. Business analysis E. Screening

During the _____ phase of the new-product development process, a product idea is evaluated to determine its potential contribution to a firm's sales, costs, and profits. A. business analysis B. screening C.commercialization D. concept testing E. test marketing

_____ is the phase of the new-product development process during which an organization determines if it is technically feasible to produce a product and if it can be produced at costs low enough to make the final price reasonable. A. Business analysis B. Product development C. Concept testing D. Commercialization E. Test marketing

In the _____ phase of the new-product development process, a product idea or concept is converted into a prototype or working model and its overall functioning is tested. A. concept testing B. business analysis C. product development D. commercialization E. test marketing

When Soft launched its new range of premium bath soaps, it had a limited introduction into the market, with the management choosing only a select few retail outlets in the city of New York. Based on the new-product development process, this selective launch is an example of _____. A. product development B. business analysis C. test marketing D. concept testing E. screening

During the _____ phase of the new-product development process, plans for full-scale manufacturing and marketing must be refined and settled and budgets for the project prepared. A. business analysis B. product development C. commercialization D. concept testing E. test marketing

A product enters the market during the _____ phase of the new-product development process. A. commercialization B. business analysis C. screening D. concept testing E. product development

With a rollout, a product _____. A. enters the product development phase B. is introduced in all regions at the same time C. is introduced gradually in stages D. is removed from the market E. is conceptually tested for commercial viability

In the context of dimensions of quality, _____ refers to the degree to which a product has the same level of quality over time. A. conversation of quality B. extension of quality C. rollout of quality D. consistency of quality E. level of quality

Which of the following terms refers to specific design characteristics that allow a product to perform certain tasks? A. Product aesthetics B. Product features C. Product benefits D. Product lines E. Product extensions

_____ refers to the decisions and activities intended to create and maintain a certain concept of a firm's product, relative to competitive brands, in customers' minds. A. Product differentiation B. Product positioning C. Product diversification D. Product screening E. Product extension

_____ is the process of eliminating a product from the product mix, usually because it no longer satisfies a sufficient number of customers. A. Product screening B. Product deletion C. Product dilution D. Product diversification E. Product positioning

A(n) _____ allows a product to decline without a change in the marketing strategy, and no attempt is made to give the product new life. A. rollout B. run-out C. reboot D. phase-out E. immediate drop

A(n) _____ is a product deletion strategy that exploits any strength left in a product. A. rollout B. run-out C. phase-out D. reboot E. immediate drop

The management at Pluto Inc., a toy manufacturer, realized that there are very few takers for the company's once-popular, miniature wooden toys. The company decided to cut prices and increase the marketing efforts for the toys in order to boost declining sales. Which of the following product deletion strategies is Pluto using? A. Rollout B. Immediate drop C. Phase-out D. Run-out E. Reboot

Which of the following product deletion strategies is the best to use when losses are too great to prolong a product's life? A. Reboot B. Run-out C. Rollout D. Phase-out E. Immediate drop

A _____ is responsible for managing the advertising activities that serve a particular group of customers. A. brand manager B. functional manager C. venture team D. product manager E. market manager

A _____ is responsible for managing the advertising activities that serve a particular group of customers. A. brand manager B. functional manager C. venture team D. product manager E. market manager

A _____ is responsible for managing the advertising activities that serve a particular group of customers. A. brand manager B. functional manager C. venture team D. product manager E. market manager