a) Safety legislation has been passed to regulate chemical substances and drugs and poisons, but not toys, automobiles, and fabrics.
b) Companies can safely ignore patent laws.
c) Manufacturers are generally not concerned with product liability.
d) The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition.
The answer here is d) The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition.
a) It provides documents required for FDA and environmental compliance.
b) It is frequently employed by non-manufacturing organizations.
c) It secures data so that changes cannot be made early in the product design process.
d) It distributes data only to the employees of an organization.
The answer is a) It provides documents required for FDA and environmental compliance.
a) the decrease in the current price of a substitute product
b) increase in price expected in the near future
c) increase in the current price of a substitute product.
d) the decrease in the current price of a complementary product.
The answer is a) decrease in the current price of a substitute product.
a) The product is regarded by the customer as a necessity.
b) there are a large number of good substitutes for the product.
c) buyers spend a small percentage of their total income on the product.
d) customers have had only a small period of time.
The answer is b) there are a large number of good substitutes for the product.
a) it is used to determine the reactions of potential customers
b) it is a strategy the provides general guidelines for generating, screening, and evaluating new product ideas.
c) it is a strategy the links the new product development process with the objectives of the marketing department, the business unit, and the corporation
d) it is the process where all the involved areas work together rather than sequentially during a product’s development
The answer is d) it is the process where all the involved areas work together rather than sequentially during a product’s development.
a) educational efforts for complex or conceptually new products
b) technical support staff for technical products
c) incentives for distributors
d) starting to make preliminary decisions about the target market.
The answer is d) starting to make preliminary decisions about the target market, because this should be done before the launch of a new product.
MMO Panel
a) Safety legislation has been passed to regulate chemical substances and drugs and poisons, but not toys, automobiles, and fabrics.
b) Companies can safely ignore patent laws.
c) Manufacturers are generally not concerned with product liability.
d) The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition.
The answer here is d) The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition.
MMO Panel
a) It provides documents required for FDA and environmental compliance.
b) It is frequently employed by non-manufacturing organizations.
c) It secures data so that changes cannot be made early in the product design process.
d) It distributes data only to the employees of an organization.
The answer is a) It provides documents required for FDA and environmental compliance.
MMO Panel
a) the decrease in the current price of a substitute product
b) increase in price expected in the near future
c) increase in the current price of a substitute product.
d) the decrease in the current price of a complementary product.
The answer is a) decrease in the current price of a substitute product.
MMO Panel
Retailers must decide on the three major product variables – product assortment, service mix, and store atmosphere.
MMO Panel
a) support activities
b) loyalty rewards
c) value chain activities
d) switching costs
The answer is d) switching costs
MMO Panel
a) The product is regarded by the customer as a necessity.
b) there are a large number of good substitutes for the product.
c) buyers spend a small percentage of their total income on the product.
d) customers have had only a small period of time.
The answer is b) there are a large number of good substitutes for the product.
MMO Panel
a) Harvesting
b) Maintain brand loyalty
c) Gain awareness
d) Stress differentiation
The answer is c) Gain awareness.
MMO Panel
a) it is used to determine the reactions of potential customers
b) it is a strategy the provides general guidelines for generating, screening, and evaluating new product ideas.
c) it is a strategy the links the new product development process with the objectives of the marketing department, the business unit, and the corporation
d) it is the process where all the involved areas work together rather than sequentially during a product’s development
The answer is d) it is the process where all the involved areas work together rather than sequentially during a product’s development.
MMO Panel
a) educational efforts for complex or conceptually new products
b) technical support staff for technical products
c) incentives for distributors
d) starting to make preliminary decisions about the target market.
The answer is d) starting to make preliminary decisions about the target market, because this should be done before the launch of a new product.
MMO Panel
a) a high rate of output
b) low unit costs
c) specialization of labor
d) ability to adjust to changes in demand
The answer here is d) the ability to adjust to changes in demand.