Marketing Strategy New Product Quiz
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New Product
The product experience is the core of delivering value to the customer. (True/False)
Group of answer choices
True
False
Flag question: Question 2
Question 22 pts
If the product is wrong, then it takes great promotion, pricing, or distribution to save it. (True/False)
Group of answer choices
True
False
Flag question: Question 3
Question 32 pts
Basically, the product is anything that delivers value to satisfy a need or want. (True/False)
Group of answer choices
True
False
Flag question: Question 4
Question 42 pts
The enhanced product includes the core product but also includes additional features, designs, and innovation. (True/False)
Group of answer choices
True
False
Flag question: Question 5
Question 52 pts
For an example of durable and nondurable products, Soap is durable and detergent is nondurable.
(True/False)
Group of answer choices
True
False
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Related Questions
Which of the following statements about the industry in which Bally’s Total Fitness participates is true?
Group of answer choices
All of the options
Bally’s is in an industry with very few substitute products
None of the options
Bally’s is in an industry with very few rivals
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A product that does not meet quality control standards and needs to be reworked to be salable as either an irregular or a good product is classified as:
Group of answer choices
A product that does not meet quality control standards and needs to be reworked to be salable as either an irregular or a good product is classified as:
Defective units
Scrap materials
Waste materials
arrow_forward
A company will often find it hard to measure the value customers attach to
its product. Such value is subjective; it varies for different customers and
different situations.
True
False
arrow_forward
Choose the best ANSWER
1-Â
What is the best need/benefit-oriented approach to defining a car?
  Descriptions of a car's engine size and features
  Outlining the warranty that comes with the carÂ
  Describing how it provides more efficient and reliable transportationÂ
  Showing the beautiful color and stylingÂ
2-
What is the best way for TWU to define their "market" in a marketing sense?
  the location of their buildingsÂ
  current and potential studentsÂ
  the faculty and staff delivering the productÂ
  the mix of programs they offerÂ
3- Â
Which of the following is not recommended for a marketing plan?
  Communicate the plan to appropriate managers.Â
  Once you have a good plan in place, do not change it for at least a year.Â
  Marketing plans should be creative.Â
  Use common sense.Â
4-
Which of the following is not a current trend (described in book/class)?
  Increasing consumer demandsÂ
  Decreasing price sensitivity among consumersÂ
  Overall decrease in brand loyaltyÂ
  Increasing…
arrow_forward
a. A cell phone Company XYZ conducted an online survey that showed that 75 percent of customers put their number-one requirement for a new phone to be increased battery life. Only 22 percent of customers listed color choices as a large concern. Company XYZ currently offers 6 different color choices for its product and has a below-average battery life compared to competition. What should Company XYZ do with these survey results?
b. Company ABC recently conducted a survey that showed that 30 percent of customers will only shop there once and never use the company’s products again. What are some general ideas that can help increase customer loyalty?
c. Company #alltheshoes would like to find out what, if anything, customers know about its new running shoe, FancyShoe. Design two survey questions to find out the following:Â 1) Are customers aware of the product? 2) What brand image do customers have of theproduct?
arrow_forward
A company's strategic intent for
its brand positioning is in large
part responsible for customers'
response to the brand.
Question options:
True
False
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Apps
are software applications that run
entirely within existing online platforms.
O True
O False
arrow_forward
As the owner of a fast food restaurant with declining sales, your customers are looking for something new and exciting on the menu. Your market research indicates that they want a burger that is loaded with everything as long as it meets certain health requirements. Money is no object to them. Use Excel to answer this questionÂ
Requirements:Â
Must include at least one of each item and no more than six of each itemÂ
 Must use whole items (no half or partial servings)Â
Final burger must contain no more than:
3,000 mg of sodiumÂ
150 g of fatÂ
3,000 caloriesÂ
Must keep the servings of ketchup and lettuce the sameÂ
Must keep the servings of pickles and tomatoes the same
Must use exactly two buns
a. What is the most expensive burger you can make that meets these requirements?Â
b. What are the allocations of each ingredients.Â
write a mathematical model that helps the manager design the most expensive burgerÂ
build an excel silver model for the mathematical model you built (please…
arrow_forward
As the owner of a fast food restaurant with declining sales, your customers are looking for something new and exciting on the menu. Your market research indicates that they want a burger that is loaded with everything as long as it meets certain health requirements. Money is no object to them. Use Excel to answer this questionÂ
Requirements:Â
Must include at least one of each item and no more than six of each itemÂ
 Must use whole items (no half or partial servings)Â
Final burger must contain no more than:
3,000 mg of sodiumÂ
50 g of fatÂ
3,000 caloriesÂ
Must keep the servings of ketchup and lettuce the sameÂ
Must keep the servings of pickles and tomatoes the same
Must use exactly two buns
a. What is the most expensive burger you can make that meets these requirements?Â
b. What are the allocations of each ingredients.
arrow_forward
If the flavor of your favorite soft drink varies to an unacceptable degree from can to can, this represents a problem with the product's ________.
Â
Question options:
Â
conformance quality
Â
minimal quality
Â
expected quality
Â
guaranteed quality
Â
performance quality
arrow_forward
THE CORRECT ANSWER IS OPTION A .
EXPERT SOLUTION IS MISLEADING
arrow_forward
Which of the following is not a factor that determines how much you are able to charge for your product or service?
Â
Group of answer choices
Your cost to provide the product or service
Value or price your product or service creates for the customer
Price that competitors charge for alternative products or services
Season of the year or natural disaster
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4. Happy Toy Company's R&D
The Happy Toy Company's R&D department is always looking for great ideas for new toys. On
average, the R&D department generates about 10 new toy ideas a week. To go from idea to approved
product, the idea must go through 5 stages:
Pr(Fail) = 40%
Pr(Fail) = 50% Pr(Fail) = 65%
Pr(Fail) = 80%
Initial
Safety
testing
Focus
Final
decision
Mockup
screening
group
In initial screening a staff member spends 2 hours considering the idea. In mock-up, the idea is sent to
one of many suppliers to produce a physical mock-up of the toy. There is essentially unlimited capacity
at this stage, but it takes 4 days to get the mockup built even though multiple mockups can be built
simultaneously. In safety testing each idea requires 2 days from a staff member to have the idea checked
for safety. In focus groups each idea requires 3 hours from a staff member to have the idea test marketed.
Finally, the management team meets for 4 hours per idea to decide if the toy should be added…
arrow_forward
Place or distribution channel in the marketing mix focuses on innovating the best features of the product to attract more customers. This statement is actually:
Group of answer choices
a. false
b. true
arrow_forward
9. Which of the following answer choices demonstrates an example of sustainability in business? - A company is very profitable and will sustain its earnings for many years A company makes decisions that will allow it to last for many years A company focuses first on helping society and ends up making a profit A company makes a product of durable material that will last a long time
arrow_forward
25. Which of the following best describes how product design might affect the purchase process as I laid it out in class?
Group of answer choices
The product design makes the product easier to manufacture.
The product design helps buyers understand the value they would get.
The product design includes the latest technology.
The product design is approved by the executive team.
arrow_forward
Required information
[The following information applies to the questions displayed below.]
Consider the following narrative describing the process of filling a customer's order at a Starbucks branch:
Identify the start and end events and the activities in the following narrative, and then draw the business process model
using BPMN: the Starbucks customer entered the drive-through lane and stopped to review the menu. He then ordered a
Venti coffee of the day and a blueberry muffin from the barista. The barista recorded the order in the cash register. While
the customer drove to the window, the barista filled a Venti cup with coffee, put a lid on it, and retrieved the muffin from
the pastry case and placed it in a bag. The barista handed the bag with the muffin and the hot coffee to the customer. The
customer has an option to pay with cash, credit card, or Starbucks gift card. The customer paid with a gift card. The barista
recorded the payment and returned the card along with the…
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FAST PLZ
2-Which of the following would be the impact of mistakes in marketing budgeting?
Â
The company will still make a lot of profit
None of the option
Nothing happen to the company and the brand
The company and the brand may have to live with mistakes for the entire year
arrow_forward
Selling concept is typically expert with unsought goods those that buyers can't usually think of buying, such as insurance of life
Select one:
True
False
arrow_forward
The following are the reasons why the customers does not understand the value except:
a. price perceptions
b. new features
c. lack knowledge as to how a particular features might satisfy an unmet needs
d. lack knowledge about how to use some product features
arrow_forward
How can I found the Response rate using the goal seek function to the below question?Â
Question 2-2 (Chapter 2)
Continuing the previous problem, use Goal Seek for each value of number mailed (once for 80,000, once for 90,000, and so on). For each, find the response rate that allows the company to break even. Then chart these values, where the number mailed is on the horizontal axis, and the breakeven response rate is on the vertical axis. Explain the behavior in this chart in a brief memo to management. (Winston, 20180101, p. 38)
Winston, W. L., Albright, S. C. (20180101). Practical Management Science, 6th Edition. [[VitalSource Bookshelf version]]. Retrieved from vbk://9781337671989
arrow_forward
An engineer should not approve a project
which is not safe for the public. It is an
example of which type of ethics?
O a. Religious Ethics
O b. Personal ethics
O c. Business ethics
O d.
Professional ethics
arrow_forward
Moving to another question will save this response.
Question 30
Consumers who have no past experience with a product are more likely to judge it by its price.
O True
O False
hp
10
arrow_forward
Required information
[The following information applies to the questions displayed below.]
Consider the following narrative describing the process of filling a customer's order at a Starbucks branch:
Identify the start and end events and the activities in the following narrative, and then draw the business process model
using BPMN: the Starbucks customer entered the drive-through lane and stopped to review the menu. He then ordered a
Venti coffee of the day and a blueberry muffin from the barista. The barista recorded the order in the cash register. While
the customer drove to the window, the barista filled a Venti cup with coffee, put a lid on it, and retrieved the muffin from
the pastry case and placed it in a bag. The barista handed the bag with the muffin and the hot coffee to the customer. The
customer has an option to pay with cash, credit card, or Starbucks gift card. The customer paid with a gift card. The barista
recorded the payment and returned the card along with the…
arrow_forward
Provide two examples for each element: Â
A. Expected benefits. Â
B. Risks
arrow_forward
States of Nature
Alternatives
Very Favorable
Market
Average
Market
Unfavorable
Market
Build new plant
$300,000
$210,000
−$280,000
Subcontract
$160,000
$100,000
−$15,000
Overtime
$120,000
$70,000
−$8,000
Do Nothing
$0
$0
$0
​Using the decision making under uncertainty with the criterion of
Maximax the appropriate decision will be...
 (Do Nothing)
(Build new plant)
(Overtime)
(Subcontract)
Â
The value of the return under this decision is
Â
Using the decision making under uncertainty with the criterion of
Maximin the appropriate decision will be...
 (Subcontract)
(Overtime)
(Do Nothing)
(Build new plant)
Â
The value of the return under this decision is
​
Using the decision making under uncertainty with the criterion of
Equally Likely the appropriate decision will be
 (Do Nothing)
(Subcontract)
(Build new plant)
(Overtime)
Â
The value of the return under this decision is
arrow_forward
Shaadi.com has been wondering how it can bring back customers to its website. This is especially because once the objective of the customer to find the match has been achieved the customer has no reason to return. The advertising revenues of shaadi.com are linked to number of customers the site is able to attract and retain. What strategy should this website adopt?
arrow_forward
You have been hired as a consumer behavior expert for Dayfresh. Dayfresh offers products such as cow milk, lactose free milk and flavored milk in the milk and dairy category.Question 3. Identify and explain any two Gestalt principles using the pictures below.
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e-Test
uitiple Choice. Select the letter of your answer.
1. The income statement is a statement that shows the result of the
operation of the business. In the first quarter of its operation the
business has a revenue of Php155,000 and cost and expense
amounting to Php80,000. How much is the net income of the
business?
C. Php75.00
d. Php235,000
a. Php155,000
b. Php80,000
INFINIX HOT 9 PLAY
Al CAMERA
ntatement are nominal or temporary
arrow_forward
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- Which of the following statements about the industry in which Bally’s Total Fitness participates is true? Group of answer choices All of the options Bally’s is in an industry with very few substitute products None of the options Bally’s is in an industry with very few rivalsarrow_forwardA product that does not meet quality control standards and needs to be reworked to be salable as either an irregular or a good product is classified as: Group of answer choices A product that does not meet quality control standards and needs to be reworked to be salable as either an irregular or a good product is classified as: Defective units Scrap materials Waste materialsarrow_forwardA company will often find it hard to measure the value customers attach to its product. Such value is subjective; it varies for different customers and different situations. True Falsearrow_forward
- Choose the best ANSWER 1- What is the best need/benefit-oriented approach to defining a car?   Descriptions of a car's engine size and features   Outlining the warranty that comes with the car   Describing how it provides more efficient and reliable transportation   Showing the beautiful color and styling 2- What is the best way for TWU to define their "market" in a marketing sense?   the location of their buildings   current and potential students   the faculty and staff delivering the product   the mix of programs they offer 3-  Which of the following is not recommended for a marketing plan?   Communicate the plan to appropriate managers.   Once you have a good plan in place, do not change it for at least a year.   Marketing plans should be creative.   Use common sense. 4- Which of the following is not a current trend (described in book/class)?   Increasing consumer demands   Decreasing price sensitivity among consumers   Overall decrease in brand loyalty   Increasing…arrow_forwarda. A cell phone Company XYZ conducted an online survey that showed that 75 percent of customers put their number-one requirement for a new phone to be increased battery life. Only 22 percent of customers listed color choices as a large concern. Company XYZ currently offers 6 different color choices for its product and has a below-average battery life compared to competition. What should Company XYZ do with these survey results? b. Company ABC recently conducted a survey that showed that 30 percent of customers will only shop there once and never use the company’s products again. What are some general ideas that can help increase customer loyalty? c. Company #alltheshoes would like to find out what, if anything, customers know about its new running shoe, FancyShoe. Design two survey questions to find out the following: 1) Are customers aware of the product? 2) What brand image do customers have of theproduct?arrow_forwardA company's strategic intent for its brand positioning is in large part responsible for customers' response to the brand. Question options: True Falsearrow_forward
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