Product Strategy

Question 1

Televisions are an example of a __________ and flat screen TVs are an example of a __________.
A. Product family; product line
B. Product brand; product line
C. Product class; product form
D. Product form; product class

Answer 1

C

Question 2

Mike has developed an idea for a new energy drink. He has asked several consumers to give him their thoughts about the product via a detailed questionnaire that includes illustrations of the product. He specifically wanted to know what consumers thought about his proposal for the beverage’s taste, the bottle’s shape and the brand name of this new product. Mike is now working to decide if selling this energy drink idea appears to be a good financial investment. Mike is presently at what stage of the new product planning process?
A. Market Testing
B. Prototype Development
C. Feasibility Screening
D. Business Analysis

Answer 2

D

Question 3

With respect to distribution, convenience goods are available
A. By special order from the manufacturer
B. At relatively few outlets
C. On a widespread basis at many outlets
D. At a large number of selective outlets

Answer 3

C

Question 4

Samantha is in the checkout line at the supermarket, waiting to pay for her groceries. While standing in line she flips through the latest issue of her favorite magazine and sees an ad for a new brand of gum. After seeing the ad, she selects one of the flavors of the gum from the display above the magazines. Samantha has not tasted the gum before, but it looks enticing to her, so she is excited to try it out. What is the complete order of the Individual-Level Adoption process that Samantha has begun by buying the gum?

  I.     Awareness
  II.     Interest
  III.     Evaluation
  IV.     Trial
  V.     Adoption

A. II, IV, I, III, V
B. I, II, IV, III, V
C. II, I, III, IV, V
D. I, III, II, IV, V

Answer 4

B

Question 5

Which of the following is NOT a perspective on defining a “new” product?
A. The product is less than 6 months old
B. The product is “new” in legal terms
C. The product requires a significant degree of “new” learning by consumers
D. The product is “new” from a competitor’s perspective

Answer 5

D

Question 6

In the new-product process, the stage at which the product is positioned and launched in full-scale production and sales is called
A. Screening and evaluation
B. Market testing
C. Business analysis
D. Commercialization

Answer 6

D