Unit 3-Lesson 5 Product Development (Marketing)

A restaurant wants to contribute to good health, so it changes its recipes. It decreases sugar content and adds more fresh fruit. Which kind of innovation is the restaurant using?

• Inventing something completely new

• Finding new ways to use an existing product

• Creating more affordable versions of products

• Developing products that do something better

How can a company's salespeople help with product development?

• They can sell new products.

• They can be a source of ideas.

• They can create a prototype.

• They do not have a role in product development.

A company has designed a new product and tested the prototype. What is the next step in product development?

• Launch the product.

• Generate ideas.

• Test-market the product.

• Evaluate ideas.

In product development, what are "specifications"?

• Statements of what the product will be like

• Sample products that marketers can use in research

• Trials of the marketing plan in a limited area

• Positive facts about the product

What are goods that consumers buy after making some effort to gather information and compare options?

• Raw materials

• Specialty goods

• Convenience goods

• Shopping goods

A business buys motors that it uses to make blenders and mixers. The motors are an example of _____.

• raw materials

• components

• supplies

• installations

Why are tangible features important to include in development of a service?

• Because services are an example of specialty goods.

• Because services are mainly tangible.

• Because customers can't try many services before buying.

• Because they provide storage space for services.

Business buyers reorder again and again from businesses they trust. Therefore, it is important for marketers to offer them _____.

• consistent quality

• consistent packaging

• many features

• completely new inventions

What are the purposes of packaging?

• To protect and identify products

• To price, place, and promote products

• To protect, identify, and promote products

• To identify, promote, and place products

Besides meeting legal requirements, which is the main reason that marketers label their products?

• To show customers the product features and costs

• To give information they hope will lead buyers to choose the products

• To eliminate the need for packaging

• To create tangible features for their services