Product Development & Marketing – Introduction To Business
In this quiz the questions is about product development and marketing, business analysis, idea development.
Which of the following stages of the product development process assesses a product’s compatibility in the market?
business analysis – Correct
_____ is a trial minilaunch of a product in limited areas that represent the potential market.
Test marketing- Correct
Which of the following is an element of the promotion mix?
publicity – Correct
_____ has the important function of providing revenue to sustain a firm.
Marketing – Correct
_____ is the full introduction of a complete marketing strategy and the launch of a product.
Commercialization – Correct
_____ is the goal of the marketing concept.
Customer satisfaction -Correct
Which of the following is a common mobile marketing tool?
multimedia messages – Correct
_____ occurs when criminals obtain personal information that allows them to impersonate someone else in order to use the person’s credit to obtain financial accounts and make purchases.
Identity theft – Correct
Which of the following is a psychological variable of buying behavior?
attitude – Correct
_____ permit website operators to track how often a user visits the site, what he or she looks at while there, and in what sequence and also allow web users to customize services and content.
Cookies – Correct
At the heart of all business is the_____, the act of giving up one thing in return for something else.
exchange – Correct
A _____ is a brand that is legally protected from use by any other firm.
trademark – Correct
Before introducing a new product, a prototype is created at the _____ stage.
product development – Correct
A _____ is a plan of action for developing, pricing, distributing, and promoting products that meet the needs of specific customers.
marketing strategy – Correct
A _____ is best described as a group of people who have a need, purchasing power, and the desire and authority to spend money on goods, services, and ideas.
market – Correct
The role of _____ is to communicate with individuals, groups, and organizations to facilitate an exchange directly or indirectly.
promotion – Correct
_____ are commonly determined by ranking people into higher or lower positions of respect.
Social classes – Correct
_____ refers to the decision processes and actions of people who purchase and use products.
Buying behavior – Correct
A customer’s subjective assessment of benefits relative to costs in determining the worth of a product is known as
value. – Correct
During the first half of the 20th century, businesspeople viewed _____ as the primary means of increasing profits.
sales – Correct
_____ is the chance of loss associated with marketing decisions.
Risk – Correct
_____ are web-based journals in which writers can editorialize and interact with other Internet users.
Social networking sites
Blogs – Correct
identifying strings of text on users’ computers that permit website operators to track how often a user visits the site, what he or she looks at while there, and in what sequence.
small bits of software on a website, desktop, or mobile device that perform a simple purpose, such as providing stock quotes. – Correct
antivirus programs that help individuals avoid identity theft.
little black and white squares that appear in magazines, posters, and store displays.
Which of the following is the stage in the product development process where most new product ideas are rejected because they seem inappropriate for an organization?
idea screening – Correct
_____ are often employed to boost sales.
Permanent price reductions
Discounts – Correct
_____ describes how marketers use digital media to find out the opinions or needs of potential markets.
Crowdsourcing – Correct
Which of the following is a condition required for an exchange to take place?
Each participant must hold on to his or her respective “something of value.”
Products offered should be standardized by sellers.
The items of value offered by the buyers and sellers must be tangible in nature, such as money and cars.
Buyers and sellers must be able to communicate about the “something of value” available to each. – Correct
Which of the following promotion mix variables is best for promoting expensive products with specialized uses, such as houses?
personal selling – Correct
The _____ reflects the degree to which a good, service, or idea meets the demands and requirements of customers.
product quality – Correct
When a _____ strategy is used, a company attempts to motivate wholesalers and retailers to make the product available to their customers.
push – Correct
Motorcycles are an example of _____ products.
specialty – Correct
Industrial products such as lumber, cotton, and iron ore are classified as
raw materials. – Correct
In the context of digital communication, _____ refers to the customer’s ability to regulate the information they view as well as the rate and exposure to that information.
control – Correct
In the _____ approach, the marketer aims its marketing efforts at two or more segments, developing a marketing strategy for each.
multisegment – Correct
A _____ is a website where users can create a profile and interact with other users, post information, and engage in other forms of web-based communication.
social network – Correct
If a company develops an advertising campaign exclusively for a segment of consumers with a certain income and education, which of the following segmentation variables is the company using?
demograpic – Correct
_____ are websites where users can add to or edit the content of posted articles.
Wikis – Correct
Social networking sites
The financial value placed on an object involved in an exchange between a buyer and a seller is known as its
price. – Correct
During the _____ stage of the product cycle, a firm tries to strengthen its position in the market by emphasizing the product’s benefits and identifying market segments that want these benefits.
growth – Correct
Which of the following steps of personal selling is associated with asking a prospect to buy a product?
closing – Correct
Which of the following characteristics distinguishes digital marketing from traditional marketing?
addressability – Correct
In the _____ approach to market segmentation, a company develops one marketing strategy for a single market segment.
concentration – Correct
_____ are audio or video files that can be downloaded from the Internet via a subscription that automatically delivers new content to listening devices or personal computers.
Social networking sites
Podcasts – Correct
Inventory control, transportation, and warehousing are all examples of activities of
channel D marketing.
physical distribution. – Correct
The market orientation approach emphasizes
extensive promotional activities.
efficient production of goods.
making the products first and then trying to persuade customers that they need them.
determining what customers want first and then producing it. – Correct
When a company sets a low price for a new product to discourage competition from entering the market, it is using the _____ strategy.
penetration pricing – Correct
Which of the following modes of transportation offers speed and a high degree of dependability but is the most expensive?
air transport – Correct
One of the best ways businesses can utilize digital media is for _____ purposes, such as increasing brand awareness and connecting with consumers.
promotion – Correct
If a company is eliminating certain models of a product and cutting back on expenditures, the product is most likely in the _____ stage of the product life cycle.
decline – Correct
In _____ marketing, all marketing efforts focus on one small, well-defined market segment that has a unique, specific set of needs.
niche – Correct