I. Single choice questions (Each question has 4 points, a total of 15 questions, and the total score is 60 points)

1) What is the term for the process of creating, communicating, and delivering value to customers while managing customer relationships in ways that benefit the organization and its stakeholders?

A) Financial planning

B) Controlling

C) Operations management

D) Marketing

E) Demographic profiling

2) What type of goods includes raw materials used to produce other products?

A) Substitute products

B) Industrial goods

C) Consumer goods

D) Marketing goods

E) Disposable goods

3) What are products with intangible features such as professional advice?

A) Personal goods

B) Services

C) Industrial goods

D) Psychographics

E) Reseller goods

4) What type of marketing is used to build long-term relationships with customers?

A) Industrial marketing

B) Relationship marketing

C) Social marketing

D) Economic marketing

E) Consumer marketing

5) What is data warehousing?

A) A marketing strategy that creates sales agreements that stipulate product delivery

B) The process of dividing a market into categories of customer types

C) The study of consumer needs and wants and the way in which sellers can best meet them

D) The process of collecting, storing, and retrieving data in electronic files

E) A customer identification strategy that targets potential buyers

6) Companies who use ad campaigns to raise public awareness of important issues such as texting while driving are working with what type of environment?

A) Political-legal

B) Sociocultural

C) Technological

D) Competitive

E) Demographic

7) What do organizations use to build better, stronger information connections with clients?

A) Customer relationship management (CRM)

B) Data warehousing

C) Industrial marketing

D) Possession utility

E) Data mining

8) Which of the following is used to automate the analysis of customer information and how might they be influenced by marketers?

A) Data mining

B) Brand competition

C) Customer relationship management

D) Relationship marketing

E) Data warehousing

9) What type of utility is practiced by those companies who allow marketers to have a voice in product design and identifying features customers want?

A) Time

B) Possession

C) Form

D) Value

E) Place

10) Consumers often spend a great deal of time and money doing research to purchase a specific service. These consumer services are referred to as

A) production services.

B) specialty services.

C) convenience services.

D) industrial services.

E) shopping services.

11) Assuming a company has been gathering ideas for new products, what is the next step in the development process?

A) Test marketing

B) Prototype development

C) Business analysis

D) Concept testing

E) Screening

12) Which of the following activities describes the development stage of commercialization?

A) Building a prototype

B) Testing the product to see if it meets performance requirements

C) Selling the product on a trial basis in limited areas

D) Beginning full-scale production and marketing

E) Testing consumer reaction to the product in limited areas

13) In which of the following ways is product development different for services than for physical goods?

A) Instead of gathering product ideas, the company goes immediately to the testing phase.

B) Instead of screening ideas, the company tests all of them, since no prototype is needed.

C) Instead of creating a prototype, the company develops a service process design.

D) The business analysis step is not needed, since there are no production costs with services.

E) The commercialization step is gradual for services, but rapid for physical goods.

14) What is frequently the most time-consuming stage of product development?

A) Testing

B) Market analysis

C) Design

D) Speed to market

E) Product idea

15) On average, how many new product ideas are needed to generate one that reaches the consumer market?

A) 25

B) 50

C) 75

D) 100

E) 500

II. True or False (Each question has 4 points, a total of 10 questions, and the total score is 40 points in this section)

1) A product's features may be intangible.

2) A value package consists of an in-store advertisement that makes the product attractive and identifies features and benefits.

3) Shopping goods are purchased more often than convenience goods.

4) A doctor's office buys a multifunction printer. This purchase is an example of a capital item.

5) The marketing process to the consumer is significantly different than the marketing process for the industrial buyer.

6) Consumers will often spend a great deal of time and money to find a specialty good and will generally not accept a substitute.

7) Shopping agents allow consumers to purchase products directly from their site.

8) E-intermediaries include syndicated sellers and shopping agents.

9) Drop shippers carry inventory for retailers.

10) Shopping agents (e-agents) help people shop from factory outlet stores.