Archive for September 2018

CPG stands for

CPG stands for



A. can price generously
B. consumer packaged goods
C. cheaply priced goods.


Answer: B. consumer packaged goods

Technology can help facilitate service delivery through

Technology can help facilitate service delivery through



A. access to a wide variety of services.
B. greater control over service delivery by customers.
C. increased efficiency.
D. greater ability to obtain information.
E. all of these.


Answer: E. all of these.

In countries like the United States, services

In countries like the United States, services



A. have almost all been replaced by technology.
B. are a small portion of GDP relative to manufacturing.
C. are replacing property taxes as a source of government revenue.
D. will decrease in demand as the population ages.
E. account for an increasing share of jobs.


Answer: E. account for an increasing share of jobs.

A service is any intangible offering that involves a deed, performance, or effort that

A service is any intangible offering that involves a deed, performance, or effort that



A. cannot be physically possessed.
B. is high-priced.
C. is supported solely through advertising.
D. can be transformed into a physical product.
E. offers benefits but not costs.


Answer: A. cannot be physically possessed.

Concept testing is important because it can

Concept testing is important because it can



A. help the firm to refine the promotional plans.
B. lead to immediate roll out of the final product.
C. help a firm avoid the costs of unnecessary product development.
D. reduce the potential loss of sales during the decline stage.
E. increase product development costs.


Answer: C. help a firm avoid the costs of unnecessary product development.

Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to generate ideas for names for a new beach resort. You are engaged in ________________, a form of new idea generation.

Suppose that you work for an advertising agency and are brought into a meeting where everyone is asked to generate ideas for names for a new beach resort. You are engaged in ________________, a form of new idea generation.



A. R&D
B. licensing technology
C. consumer research
D. geodemographic analysis
E. brainstorming


Answer: E. brainstorming

A major limitation in the use of internal R&D departments for new idea generation is

A major limitation in the use of internal R&D departments for new idea generation is



A. few scientists have ideas.
B. they tend to be dissolved once sufficient ideas have been generated.
C. they tend to create too many blockbusters.
D. few scientists have practical ideas.
E. the costs tend to be quite high.


Answer: E. the costs tend to be quite high.

One of the potential benefits to a firm of introducing new-to-the-world products or services is:

One of the potential benefits to a firm of introducing new-to-the-world products or services is:



A. cost savings.
B. late majority marketing.
C. establishing a completely new market.
D. the ability to avoid paying pioneers for new product development.
E. capitalizing on existing consumer preferences.


Answer: C. establishing a completely new market

Which of the following is NOT one of the benefits to a firm of new product development?

Which of the following is NOT one of the benefits to a firm of new product development?



A. Reduced costs of production.
B. Satisfying the changing needs of current and new customers.
C. Avoiding market saturation from products that have been on the market for a long time.
D. Creating diversification and reducing risk.
E. Keeping up in a market where sales come mostly from new products.


Answer: A. Reduced costs of production.

Frequent buyer/user award programs are used to

Frequent buyer/user award programs are used to



A. increase price sensitivity.
B. decrease co-branding costs.
C. lower licensing fees.
D. expand product line depth.
E. maintain contact with loyal customers.


Answer: E. maintain contact with loyal customers.

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