Question

Product Marketing MKT 240

1) Pat shopped at Target for new summer shorts. After trying on three different brands and price comparing, he decided to buy the Dockers shorts. While heading to the checkout stand, he spotted earphones hanging on the endcap of the electronics area. Remembering he needed new earbuds for his iPod, he grabbed a set and paid for it all at the checkout counter. What types of product categories did Pat experience in this shopping trip?

a) Unsought and shopping
b) Shopping and convenience
c) convenience and speciality

2) Dhrish has flown into Chicago for work. He needs a place to eat dinner and hasn’t had time to research local restaurants. Dhrish calls the concierge desk at his hotel and asks for a few recommendations. After settling on one close by, Dhrish thanks the concierge and hangs up the phone. Identify all of the relevant characteristics for this service product experience:

a) intangible
b) simultaneous production and consumption
c) high buyer involvement

3) When the “world's best travel jacket,” BauBax, was launched at the end of last year, the company behind BauBax set up a new website, press releases, and a social media campaign. Before launching to a wide audience, the company rolled out the jacket to a smaller pilot group for feedback. The company discovered the jacket was having trouble zipping up and that some of the pockets were in awkward positions for customers. Getting the product feedback from customers in a timely manner allowed the company to retool the troubled areas before a wider product launch. In what part of the marketing introduction stage did the BauBax team perform well?

a) place distribution
b) promotion-pilot customer communication
c) price-discounts

4) Quaker Oats has been around for over 100 years. The company’s marketers have continued to extend its market reach by adding new flavors and combining them with new products like Oatmeal Cookies, Oat Bars, and Quaker Oat & Yogurt Sandwich Biscuits. Quakers’ marketers have done a good job at:

a) influencing the oat product life cycle
b) reacting to the oat product life cycle
c) controlling the oat product life cycle

5) General Electric has many products and product lines. It has grouped many of these product lines into their own divisions that are responsible for their own profitability. These divisions created specific market approaches based on the targeted consumer. This is an example of a company using:

a) product lines
b) marketing mix units
c) strategic business units (SBUs)

6) The SmartHome company offers products to automate your home, making lights, thermostats, doors, and cameras changeable with the touch of a button. SmartHome added pet cameras to its product line two years ago. It conducted market research indicating a positive market for this product, but over the last two years revenues have been well below projected numbers. SmartHome is an example of how:

a) new products introduce risk into a portfolio as well as future potential profits
b) market research is often misleading
c) new products bring great reward with little risk

7) Michael began working with the invention platform Quirky to develop an overflow sensor that alerts your mobile device if it detects unwanted standing water in basements, vacation homes, or other unmonitored areas. After he cycled through a few different paper iterations of the product, he and the team created a working prototype. What stage of the product development process is Michael’s new product in?

a) concept development and testing stage
b) technical and marketing development stage
c) screening product ideas stage

8) Now that Refuel’s smart propane tank gauge has made it through the business case analysis stage, it has moved on into the technical and marketing development stage. How is the marketing department involved with the Refuel product at this stage?

a) they are launching the product into the market to begin generating revenue
b) they are testing Ruel’s prototype with target customers and identifying the most effective marketing mix for the new product
c) they are generating and launching marketing and advertising campaigns

9) Santiago created an innovative marketing mix that specifically targets innovators’ adoption of the new technology. After six months, sales figures plateaued. Which two adoption categories should he have targeted with his marketing to move the technology through the adoption curve?

a) innovators and early adopters
b) early majority and late majority
c) early adopters and early majority

10) TurboTax developed an innovative software product years ago that filled the gap between the individuals who wanted to do their own taxes and the ones who sought out professional tax advice. TurboTax’s product hit a sweet spot with the market, and its sales have followed a steady increase through 2014. TurboTax developed a product that was a:

a) market saturation fit
b) product-market fit
c) product-market miss

Answer 1

1. B. Shopping and convince.

In this shopping trip pat experience shopping and convince only.

2. C. High buyer involvement

characteristics for this service product experience includes high buyer involvement

3. B.. Promotion pilot customer communication.

In promotion pilot customer communication part of the marketing introduction stage baubax team perform well.

4. C. controlling the oat product life cycle

Quakers’ marketers have done a good job at controlling the oat product life cycle

5. c. Strategic business unit (SBUs)

This is an example of a company using strategic business units.

6. A. New products introduce risk into a portfolio as well as future potential profits

SmartHome is an example of how new products introduce risk into a portfolio as well as future potential profits

7. A. concept development and testing stage

concept development and testing stage of the product development process is Michael’s new product in.

8.b. they are testing refuel's prototype with target customers and identifying the most effective marketing mix for the new product

marketing department involved with the Refuel product at this stage is that they are testing refuel's prototype with target customers and identifying the most effective marketing mix for the new product

9. C. early adopters and early majority

two adoption categories should he have targeted with his marketing to move the technology through the adoption curve through early adopters and early majority.

10. B. Product market fit.

Turbotax developed a product that was product market fit ​​​​​​