What are two questions they have to ask them self before developing a new product or service ?
A) Can produce it? Can we sell it?
B) Is it profitable? Is it beneficial?
A. Can produce it? Can we sell it?
100
Inventions are _____ developed from study and experimentation.
A. New Device
B. Methods
C. Processes
D. All of the above
D. All of the Above
100
What can marketers use to create new products and make a profit?
What is innovations and inventions
100
Name three types of Utility
What is Form, Information, Place, Time and Possession
100
The marketing concept is the idea that consumers and competitors should be considered in every important business decision.
True or False?
True.
200
What do you have to look for when it comes to "Can we produce it?"
A) Company's Facility and technology
B) Company's workers and materials
A. Company's facility and technology
200
Businesses use inventions to create original solutions to meet consumer _____.
A. Wants
B. Needs
C. Wants and needs
D. None of the above
B, Needs
200
The marketer and the innovator are the same person
Sometimes but not often
200
What is the term that provides consumers with instructions, directions, and user manuals?
What is Information Utility
200
2. The process used to research whats already in the market, and what consumers like and dislike about a product is called _____.
A. Marketing opportunity analysis
B. Product mapping
C. Benefit analysis
D. None of the above
B. Product Mapping
300
What do you have to look for when it comes to "Can we sell it?"
A)Pricing Strategies
B)Competitive Market
C)Distribution Channels
D)Promotional Plans
E)All of the above
E. All of the Above
300
Businesses can use innovations to create original solutions to meet _____.
A. Customer needs
B. Consumer needs
C. Customer and consumer needs
D. None of the above
B. Consumer Needs
300
What stage determines if a product is going to enter the market?
What is Test Marketing
300
What is form utility?
The relationship between a product or service’s form and its function
300
A marketing opportunity analysis (MOA) is also called a situational analysis.
True or False?
True.
400
The Company launches a ____ which is a study to determine if any business opportunity is possible, practical and viable.
What is a Feasibility Study
400
An innovation is a product or service that uses _____, to change the methods used to produce or distribute products.
A. New technology
B. Items
C. Processes
D. All of the above
D. All of the above
400
What are the 8 stages of product development?
Idea Generation, Idea Screening, Concept Development, Market Strategy, Feasibility Study, Product Design, Test Marketing, Market Entry
400
What can economists add to products to make it valuable on the market as well as influence the value equation?
What is Utility
400
4. A marketing opportunity analysis is composed of how many parts?
A. 2
B. 3
C. 4
D. 5
B. 3
500
What other types of transportation did Armand Bombardrer make?
A) Subway Cars
B)Rail cars
C)Snowmobile
D)Watercraft
E) All of the above
E. All of the Above
500
There are many more innovators than there are inventors.
True or False
True
500
What are 4 different types of cost that goes into the feasibility study?
Calculate the cost of advertising, promotion, distribution, transportation, storage, packaging development cost.
500
Name three Components of Form Utility
What is Material, Scent, Flavour, Colour, Design and Packaging
500
5. A marketing opportunity analysis is composed of _____.
A. Overall market
B. Indirect market
C. Direct competition
D. All of the above