3.01_PM127 H. Marketing Apps Review

All existing goods and services began with a(n)

• idea.

• solution.

• target market.

• financial investment.

Which of the following factors have resulted in a greater focus on new product ideas:

• Less competition and shorter product life cycles

• More competition and longer product life cycles

• Less competition and longer product life cycles

• More competition and shorter product life cycles

As a result of increased interest in health and fitness, businesses have developed many new goods and services, including wearable fitness devices and a diverse range of workout classes. This is an example of businesses developing new products in response to

• touch points.

• elasticity.

• a trend.

• an opinion.

To learn what customers need and want, marketers are very

• closed-minded.

• observant.

• enthusiastic.

• formal.

Marketable goods and services are often developed because an existing problem needs to be

• protected.

• solved.

• provoked.

• created.

Which of the following are most likely to be complementary products:

• Books and DVDs

• Sweaters and sweatshirts

• Silverware and dishes

• Flashlights and lamps

The Internet has replaced traditional newspapers as the primary source of news and information for many people. Internet news sites are an example of

• lateral thinking.

• programmed thinking.

• complementary goods.

• substitute goods.

Many small business owners channel their __________ into successful new products.

• work orders

• authority

• weaknesses

• strengths

Some business professionals are reluctant to generate new product ideas because they

• are lateral thinkers.

• think outside the box.

• are afraid of risk.

• like to explore.

The creative-thinking process often involves the use of different methods that

• make connections between two unrelated things.

• develop a set of clear policies and procedures.

• eliminate the need for rational-thinking processes.

• instill the subconscious mind with clear thoughts.