14 Aug 115. T F Many of the so-called new products that are launched each year are in

115. T F
Many of the so-called new products that are launched each year are in
fact line extensions.

116. T F
Line extensions are less common than other new products because line
extensions are more expensive and more risky.

117. T F
Quality modifications never seek to reduce product quality.

118. T F
Quality modification of an existing product aims at changing the
product’s safety, convenience, or versatility.

119. T F
Functional modifications usually require that the product be redesigned.

120. T F
Functional modifications make an existing product more durable.

121. T F
Functional modifications help an organization achieve and maintain a
progressive image.

122. T F
Automobile makers rely heavily on aesthetic modifications.

123. T F
The major drawback in using aesthetic modifications is that their value
is determined subjectively.

124. T F
New products are classified solely as innovations that have never been
sold by any organization.

125. T F
Firms marketing a quality product that generates strong sales can afford
to keep expenses down by eliminating new-product development.

126. T F
Sales personnel are an external source for new product ideas.

127. T F
Concept testing gives reliable feedback, but at a relatively high cost.

128. T F
Concept testing presents a small sample of potential buyers with a trial
version of the new product to determine their initial reactions.

129. T F
The business analysis stage of new-product development explores how well
the new product fits in with the firm’s existing product mix.

130. T F
Business analysis provides a tentative sketch of a product’s
profitability.

131. T F
An important question in the business analysis stage of new-product
development is, Will this product meet our profit goal?

132. T F
Estimates of sales are an important component of business analysis.

133. T F
The product development stage determines the technical feasibility of
producing the new product.

134. T F
Relatively few product ideas are put into the product development stage.

135. T F
Test marketing is a sample launching of the entire marketing mix.

136. T F
Test marketing is an extension of the product screening process.

137. T F
Test marketing should be conducted when a product has been given a low
probability of success.

138. T F New-product
development does not include planning for advertising.

139. T F
Test marketing is used by companies of all sizes, primarily because of
the perceived risk of product failure on the open market and the associated
consequences.

140. T F
Time spent in test marketing can benefit a firm’s competitors.

141. T F
During the commercialization phase of new-product development, plans for
full-scale manufacturing and marketing are refined and settled.

142. T F
The majority of new-product projects initiated by major companies reach
the commercialization stage.

143. T F
Designing a product that customers perceive as different from competing
products is an example of product differentiation.

144. T F
Consistency of product quality means giving consumers the quality they
expect every time they purchase a product.

145. T F
The concept of product quality is the same from consumer to consumer and
from consumer markets to organizational markets.

146. T F
The sum of all the product’s physical characteristics is called product
quality.

147. T F
If you buy McDonald’s French fries in Fort Collins, Colorado, and later
buy McDonald’s French fries in College Station, Texas, you expect them to be of
the same quality. This is referred to consistency of quality.

148. T F
Product design is the process of creating and designing products so that
consumers perceive them as different from competing products.

149. T F
How a pair of jeans looks, regardless of the price, is an example of
styling.

150. T F
Product support services are important mainly for products that are
mechanical in nature.

151. T F
Delivery, installation, financing, repair, warranties, and guarantees
are all examples of product features.

152. T F
Warranties and customer training are examples of customer services.

153. T F
The decision to drop a product should always be a unanimous decision of
the management team.

154. T F
Systematic reviews of a company’s product mix aid in determining when
product deletion is necessary.

155. T F
The phase-out approach to product deletion involves a process of
continuous price increases to make as much profit as possible before the
product is finally priced out of existence.

156. T F
The phase-out approach to product deletion exploits any strengths left
in the product.

157. T F
Therunout approach to product deletion is used for technologically
obsolete products.

158. T F
Arunout approach to product deletion lets the product decline without
changing the marketing strategy.

159. T F
The dropping approach to product deletion generates a sales spurt just
before removing the product from the market.

160. T F
To manage products effectively, the product manager must be independent
of other departments.

161. T F
Product managers can be responsible for a single product, a product
line, or several products.

162. T F
A brand manager is a type of product manager.

163. T F
There is no best approach to managing products.

164. T F
Brand and product managers operate cross-functionally.

165. T F
Product managers are most useful in the development of new products.

166. T F
A venture team has the authority to execute plans for the development of
products.

167. T F
Venture teams work outside of established organization divisions.

168. T F
Venture team members usually come from the same functional areas within
the firm.

115. T F
Many of the so-called new products that are launched each year are in
fact line extensions.116. T F
Line extensions are less common than other new products because line
extensions are more expensive and more risky.117. T F
Quality modifications never seek to reduce product quality.118. T F
Quality modification of an existing product aims at changing the
product’s safety, convenience, or versatility.119. T F
Functional modifications usually require that the product be redesigned.120. T F
Functional modifications make an existing product more durable.121. T F
Functional modifications help an organization achieve and maintain a
progressive image.122. T F
Automobile makers rely heavily on aesthetic modifications.123. T F
The major drawback in using aesthetic modifications is that their value
is determined subjectively.124. T F
New products are classified solely as innovations that have never been
sold by any organization.125. T F
Firms marketing a quality product that generates strong sales can afford
to keep expenses down by eliminating new-product development.126. T F
Sales personnel are an external source for new product ideas.127. T F
Concept testing gives reliable feedback, but at a relatively high cost.128. T F
Concept testing presents a small sample of potential buyers with a trial
version of the new product to determine their initial reactions.129. T F
The business analysis stage of new-product development explores how well
the new product fits in with the firm’s existing product mix.130. T F
Business analysis provides a tentative sketch of a product’s
profitability.131. T F
An important question in the business analysis stage of new-product
development is, Will this product meet our profit goal?132. T F
Estimates of sales are an important component of business analysis.133. T F
The product development stage determines the technical feasibility of
producing the new product.134. T F
Relatively few product ideas are put into the product development stage.135. T F
Test marketing is a sample launching of the entire marketing mix.136. T F
Test marketing is an extension of the product screening process.137. T F
Test marketing should be conducted when a product has been given a low
probability of success.138. T F New-product
development does not include planning for advertising.139. T F
Test marketing is used by companies of all sizes, primarily because of
the perceived risk of product failure on the open market and the associated
consequences.140. T F
Time spent in test marketing can benefit a firm’s competitors.141. T F
During the commercialization phase of new-product development, plans for
full-scale manufacturing and marketing are refined and settled.142. T F
The majority of new-product projects initiated by major companies reach
the commercialization stage.143. T F
Designing a product that customers perceive as different from competing
products is an example of product differentiation.144. T F
Consistency of product quality means giving consumers the quality they
expect every time they purchase a product.145. T F
The concept of product quality is the same from consumer to consumer and
from consumer markets to organizational markets.146. T F
The sum of all the product’s physical characteristics is called product
quality.147. T F
If you buy McDonald’s French fries in Fort Collins, Colorado, and later
buy McDonald’s French fries in College Station, Texas, you expect them to be of
the same quality. This is referred to consistency of quality.148. T F
Product design is the process of creating and designing products so that
consumers perceive them as different from competing products.149. T F
How a pair of jeans looks, regardless of the price, is an example of
styling.150. T F
Product support services are important mainly for products that are
mechanical in nature.151. T F
Delivery, installation, financing, repair, warranties, and guarantees
are all examples of product features.152. T F
Warranties and customer training are examples of customer services.153. T F
The decision to drop a product should always be a unanimous decision of
the management team.154. T F
Systematic reviews of a company’s product mix aid in determining when
product deletion is necessary.155. T F
The phase-out approach to product deletion involves a process of
continuous price increases to make as much profit as possible before the
product is finally priced out of existence.156. T F
The phase-out approach to product deletion exploits any strengths left
in the product.157. T F
Therunout approach to product deletion is used for technologically
obsolete products.158. T F
Arunout approach to product deletion lets the product decline without
changing the marketing strategy.159. T F
The dropping approach to product deletion generates a sales spurt just
before removing the product from the market.160. T F
To manage products effectively, the product manager must be independent
of other departments.161. T F
Product managers can be responsible for a single product, a product
line, or several products.162. T F
A brand manager is a type of product manager.163. T F
There is no best approach to managing products.164. T F
Brand and product managers operate cross-functionally.165. T F
Product managers are most useful in the development of new products.166. T F
A venture team has the authority to execute plans for the development of
products.167. T F
Venture teams work outside of established organization divisions.168. T F
Venture team members usually come from the same functional areas within
the firm.

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