Question 1

In terms of business-to-business products,computers and printers are examples of ________.
A)component parts
B)capital equipment
C)accessory equipment
D)operating supplies
E)specialized services

Accepted Answer

The answer of In terms of business-to-business products,computers and printers...

Question 2

________ have unique characteristics that are important to buyers at almost any price.
A)Specialty products
B)Staples
C)Impulse products
D)MRO products
E)Unsought products

Accepted Answer

Specialty products have unique characteristics or brand identification for which a significant group of buyers is willing to make a special purchasing effort, often regardless of price.

Question 3

Heavy equipment,which includes items such as buildings and robotics,is also referred to as ________.
A)component parts
B)capital equipment
C)accessory equipment
D)operating supplies
E)specialized services

Accepted Answer

Heavy equipment is a type of capital equipment, which refers to long-term assets used to produce goods or services, rather than for resale.

Question 4

For the business market,a multipurpose absorbent used to clean up any type of spills would be an example of a(n)________.
A)repair product
B)operating supply
C)maintenance product
D)restoration product
E)consumer product

Accepted Answer

A multipurpose absorbent used to clean up spills in a business setting is considered a maintenance product because it is used for the upkeep and cleaning of business facilities.

Question 5

The first phase of the new-product development process is ________.
A)problem recognition
B)product concept screening
C)idea generation
D)product concept development
E)business analysis

Accepted Answer

The first phase of the new-product development process is idea generation, which involves brainstorming and coming up with potential new product ideas.

Question 6

A consumer doesn't have to learn anything new to use a(n)________.
A)dynamically continuous innovation
B)dynamically continuous new product
C)discontinuous new product
D)continuous innovation
E)discontinuous innovation

Accepted Answer

A continuous innovation is a product that does not require the consumer to learn anything new in order to use it. This means the consumer can easily adopt it into their routine without much effort or confusion.

Question 7

The Federal Trade Commission says that a product must be entirely new or changed significantly to be called new and that a product may be called new for only ________ months.
A)two
B)three
C)six
D)ten
E)twelve

Accepted Answer

According to the statement, a product may be called new for only six months.

Question 8

A ________ is a modification to an existing product.
A)technical innovation
B)continuous innovation
C)discontinuous innovation
D)commercial innovation
E)dynamically discontinuous innovation

Accepted Answer

A continuous innovation is a modification to an existing product that does not fundamentally change its features or functions. It is often an incremental improvement aimed at enhancing performance or addressing consumer needs. Therefore, B is the best choice as it perfectly defines the given statement.

Question 9

________ are manufactured goods or subassemblies of finished items that organizations need to complete their own products.
A)Component parts
B)Accessory equipment materials
C)Processed materials
D)MRO products
E)Raw materials

Accepted Answer

Component parts are manufactured goods or subassemblies that organizations require to complete their own products. Accessory equipment materials refer to items that support the use of the main equipment, processed materials are substances that have undergone some form of change, MRO products refer to maintenance, repair, and operations items, and raw materials refer to basic natural resources used in industrial processes.

Question 10

Consumers must engage in a great amount of learning to use a ________ because no similar product has ever been on the market.
A)dynamically continuous innovation
B)nonradical innovation
C)competitive innovation
D)continuous innovation
E)discontinuous innovation

Accepted Answer

Discontinuous innovation refers to a completely new and unfamiliar product that requires a significant amount of learning and adjustments from the consumers, as there are no existing similar products on the market.

Question 11

MRO products are goods that businesses use for ________.
A)management,research,and order-processing
B)marketing,relationship-building,and operation
C)maintenance,research,and organization
D)maintenance,repair,and operation
E)marketing,research,and organization

Accepted Answer

MRO stands for maintenance, repair, and operation, meaning that MRO products are goods that businesses use for the maintenance, repair, and operation of their equipment and facilities.

Question 12

________ is the category of business-to-business products that refers to the products an organization uses in its daily operations.
A)Raw materials
B)Component parts
C)Equipment
D)Processed materials
E)MRO products

Accepted Answer

The answer of ________ is the category of business-to-business products...

Question 13

Marketers classify innovations based on their ________.
A)degree of newness
B)costs to manufacture
C)prices
D)degree of tangibility
E)contribution margins

Accepted Answer

Marketers classify innovations based on their degree of newness, which is typically classified as either a continuous innovation, a dynamically continuous innovation, or a discontinuous innovation.

Question 14

A knockoff is a ________.
A)company that uses a me-too strategy for its promotion
B)company that uses comparative advertising
C)new product that is so radically different from anything on the market that it has difficulty moving out of the introduction stage of its product life cycle
D)product that is unbranded
E)new product that copies,with slight modifications,the design of an original product

Accepted Answer

A knockoff is a new product that copies, with slight modifications, the design of an original product. It is a cheap imitation of the original product, without the brand name or quality.

Question 15

For a veterinarian's office,the paper used to print payment receipts is an example of a(n)________.
A)repair product
B)operating supply
C)maintenance product
D)component part
E)raw material

Accepted Answer

The paper used to print payment receipts is an operating supply since it is necessary for the day-to-day operations of the veterinarian's office.

Question 16

In business-to-business e-commerce,consumers can use ________ to shop more efficiently.These programs find sites selling a particular product and may also provide information on competitors' prices.
A)MRO agents
B)augmenting agents
C)cookies
D)screening agents
E)intelligent agents

Accepted Answer

The description fits the definition of intelligent agents, which are software programs that assist users in finding and sorting information online, including B2B e-commerce sites. They can search for specific products and compare prices across multiple websites. MRO agents are focused on managing maintenance, repair, and operations supplies, while augmenting agents are not a commonly used term in this context. Cookies are small data files stored on a user's computer and are not used to shop more efficiently. Screening agents are designed to filter information according to predefined criteria.

Question 17

In the business market,products of the fishing and agricultural industries purchased to use in a finished product are examples of ________.
A)component parts
B)accessory equipment
C)processed materials
D)MRO products
E)raw materials

Accepted Answer

Raw materials are materials in their natural state that are used to produce finished goods. Fishing and agricultural products are examples of raw materials that are used in the production of various finished products in the business market.

Question 18

________ are consumer products for which a consumer either has little awareness or interest until a need arises.These products require a lot of advertising,personal selling,and other marketing efforts.
A)Specialty products
B)MRO products
C)Unsought products
D)Shopping products
E)Staples

Accepted Answer

Unsought products are those that consumers have little awareness or interest in until a need arises. This includes products like funeral services, insurance, and emergency medical supplies. These products require a lot of marketing efforts like advertising and personal selling to inform and persuade consumers to purchase them.

Question 19

A ________ is a pronounced modification to an existing product that requires a modest amount of learning or change in behavior to use it.
A)dynamically continuous innovation
B)nonradical innovation
C)competitive innovation
D)continuous innovation
E)discontinuous innovation

Accepted Answer

A dynamically continuous innovation refers to a significant modification to an existing product that still allows users to rely on their existing knowledge and skills to some extent, but requires some learning or behavior change. This is different from a continuous innovation, which is a minor modification that does not require any significant learning or behavior change, and a discontinuous innovation, which is a completely new product that requires significant learning and behavior change. A nonradical innovation and competitive innovation are not commonly used terms in this context.

Question 20

Customers usually know a good deal about ________ and are loyal to specific brands.
A)specialty products
B)homogeneous products
C)impulse products
D)MRO products
E)emergency products

Accepted Answer

Specialty products are unique and often customized to fit the specific needs of a customer. Since customers have invested time and effort in researching and selecting the right specialty product, they are likely to know a lot about it and be loyal to specific brands that offer the best quality or unique features.

Quiz 8: Create the Product

In terms of business-to-business products,computers and printers are examples of ________.

________ have unique characteristics that are important to buyers at almost any price.

Heavy equipment,which includes items such as buildings and robotics,is also referred to as ________.

For the business market,a multipurpose absorbent used to clean up any type of spills would be an example of a(n) ________.

The first phase of the new-product development process is ________.

A consumer doesn't have to learn anything new to use a(n) ________.

The Federal Trade Commission says that a product must be entirely new or changed significantly to be called new and that a product may be called new for only ________ months.

A ________ is a modification to an existing product.

________ are manufactured goods or subassemblies of finished items that organizations need to complete their own products.

Consumers must engage in a great amount of learning to use a ________ because no similar product has ever been on the market.

MRO products are goods that businesses use for ________.

________ is the category of business-to-business products that refers to the products an organization uses in its daily operations.

Marketers classify innovations based on their ________.

A knockoff is a ________.

For a veterinarian's office,the paper used to print payment receipts is an example of a(n) ________.

In business-to-business e-commerce,consumers can use ________ to shop more efficiently.These programs find sites selling a particular product and may also provide information on competitors' prices.

In the business market,products of the fishing and agricultural industries purchased to use in a finished product are examples of ________.

________ are consumer products for which a consumer either has little awareness or interest until a need arises.These products require a lot of advertising,personal selling,and other marketing efforts.

A ________ is a pronounced modification to an existing product that requires a modest amount of learning or change in behavior to use it.

Customers usually know a good deal about ________ and are loyal to specific brands.