6. The mechanical properties of good product material are
Correct : D. all of the mentioned
7. The physical properties of good product material are
Correct : D. all of the mentioned
8. The chemical properties of good product material are
Correct : D. all of the mentioned
9. Properties of workpiece materials are
Correct : D. all of the mentioned
10. Considerations of costing systems are
Correct : D. all of the mentioned
11. The following is the preliminary stage of Production planning
Correct : D. Product development and design
12. The following is the source(s) for developing new or improved product
Correct : D. All of the above
13. Product cost can be reduced by considering the following aspect(s) at the design stage
Correct : D. All of the above
14. The ultimate objective of the product is
Correct : C. To monopolize the market
15. Based on their field of application, manufactured goods can be classified as
Correct : B. Consumer, Capital and Defense
16. The following aspect of product is concerned with the ease and efficiency of the product
performance
Correct : A. Functional aspect
17. The “simplicity to operate and easy to understand” of product is concerned with its following aspect
Correct : A. Functional aspect
18. ______ helps in establishing the interchangeability of products
Correct : A. Standardization
19. In which of the following type the manufacturing cost may go up
Correct : C. Diversification
20. Product ______ is the ultimate objective of variety reduction
Correct : C. Specialization
21. The following eases the process of stock control
Correct : C. Both ‘A’ and ‘B’
22. The following is the Durability aspect(s) of a product
Correct : C. Ease with which a product can be maintained
23. _____ is the development of original products, product improvements, product modifications, and new brands through the firm’s own R&D efforts.
Correct : D. New product developmen
24. All of the following are different ways a firm can obtain new products, except which one?
Correct : D. A firm can obtain a new product by using the R&D department of other firms in the same industry.
25. All of the following are accurate descriptions of reasons why new products fail, except which one?
Correct : A. Although the market size was correctly estimated, the product idea itself was not good.
26. All of the following are accurate descriptions of ways companies are anxious to learn how to improve the odds of new-product success, except which one?
Correct : D. Do not overly rely on product innovation when you can succeed by copying others.
27. New-product development starts with _____.
Correct : B. idea generation
28. _____ is the systematic search for new-product ideas.
Correct : A. Idea generation
29. All of the following are major internal sources of new-product ideas, except which one?
Correct : D. Good ideas come from watching and listening to customers.
30. Major sources of new product ideas include _____.
Correct : D. all of the above are sources of new product ideas
31. All of the following are major external sources of new-product ideas, except which one?
Correct : D. Good ideas come from watching and listening to customers.
32. All of the following are accurate descriptions of new product ideas, except which one?
Correct : C. At the beginning of the process, carefully scrutinize each idea and throw far-fetched and impractical ones out the window.
33. Some companies have installed a(n) _____ that directs the flow of new ideas to a central point where they can be collected, reviewed, and evaluated.
Correct : B. idea management system
34. In order to install an idea management system, whereby all ideas are directed to a central point, a company can do any or all of the following:
Correct : D. All of the above are legitimate ways to systematically collect ideas.
35. The purpose of _____ is to generate a large number of ideas.
Correct : B. idea generation
36. The first idea reducing stage is _____ , which helps spot good ideas and drop poor ones as soon as possible.
Correct : B. idea screening
37. A _____ is a detailed version of the idea stated in meaningful consumer terms.
Correct : B. product concept
38. A _____ is the way consumers perceive an actual or potential product.
Correct : C. product image
39. An attractive idea must be developed into a _____.
Correct : B. product concept
40. All of the following are accurate descriptions of activities performed in the idea screening stage of new product development, except which one?
Correct : D. Setting up a toll-free number or Web site for anyone who wants to send a new idea to the idea manager.
41. ____ calls for testing new-product concepts with groups of target consumers.
Correct : B. Concept testing
42. _____ entails testing new-product concepts with a target group of consumers to find out if the concepts have strong consumer appeal.
Correct : B. Concept testing
43. Product concepts are presented to consumers during concept testing in any of the following ways, except which one?
Correct : D. Companies are reluctant to use the Web to test product concepts.
44. Designing an initial marketing strategy for a new product based on the _____ is called marketing strategy development.
Correct : B. product concept
45. The marketing strategy statement in new product development consists of three parts: _____, _____, and _____.
Correct : D. target market description; planned product positioning; sales, market share, and profit goals for the first few years.
46. _____ involves a review of the sales, costs, and profit projections for a new product to find
out whether they satisfy the company's objectives.
Correct : C. Business analysis
47. If a product concept passes the _____, it moves into _____.
Correct : A. business analysis test; product development
48. Once management has decided on a product concept and marketing strategy, it can next evaluate
the _____ of the proposal.
Correct : C. business attractiveness
49. In the product concept stage of new-product development, the product is merely a _____.
Correct : D. all of the above
50. In the _____ of new-product development, often products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.
Correct : D. product development phase
51. _____ is the stage of new-product development in which the product and marketing program are tested in more realistic market settings.
Correct : C. Test marketing
52. All of the following are accurate descriptions of test marketing, except which one?
Correct : B. Test marketing by consumer-packaged goods firms has been increasing in recent years.
53. Introducing a new product into the market is called _____.
Correct : D. commercialization
54. A company getting ready to launch a new product must make several decisions. However, the company must first decide on _____.
Correct : D. timing of the new product introduction
55. _____ is a new-product development approach in which one company department works to complete its stage of the process before passing the new product along to the next department and stage.
Correct : C. Sequential product development
56. In order to get their new products to market more quickly, many companies are adopting a faster, team-oriented approach called _____.
Correct : B. simultaneous product development
57. All of the following statements are accurate descriptions of the simultaneous product development approach to new product development, except which one?
Correct : D. Companies often pass the new product from department to department in each stage of the process.
58. All of the following are accurate descriptions of new-product development approaches used by companies in the commercialization phase of the process, except which one?
Correct : C. In order to get their new products to market more quickly, many companies are adopting a faster approach called sequential product development.
59. All of the following are limitations of the simultaneous team-based approach to new-product development, except which one?
Correct : D. Top management gives the product development team a clear-cut product idea or work plan.
60. All of the following statements accurately reflect the requisites of new-product success, except which one?
Correct : D. At firms known for their new-product success, their culture does not encourage, support, and reward innovation.
61. ____ begins when the company finds and develops a new-product idea. During product development, sales are zero and the company's investment costs mount.
Correct : D. Product development
62. _____ is a period of slow sales growth as the product is introduced into the market. Profits are nonexistent in this stage because of the heavy expenses of product introduction.
Correct : D. Introduction
63. ____ is a period of market acceptance and increasing profits.
Correct : C. Growth
64. _____ is the course of a product's sales and profits over its lifetime, involving five distinct stages: product development, introduction, growth, maturity, and decline.
Correct : A. Product life cycle
65. What does the term PLC stands for?
Correct : A. Product life cycle
66. Which of the following is stage of Product Life Cycle?
Correct : D. All of the above
67. The purchase cost of product is included into cost of maintenance and is subtracted from discounted alvage value to calculate _____
Correct : C. Life cycle cost
68. Value for Value Engineering analysis purposes is defined as ________.
Correct : D. Function/Cost
69. Material Requirements Planning DOES NOT include _______.
Correct : A. Material price
70. In Total Productive Maintenance, Unplanned downtime Losses include;
Correct : D. Options (A) & (C)
71. Productivity increases when __________.
Correct : B. inputs decrease while outputs remain the same
72. Which of these is correct with respect to a product developed or a service performed?
Correct : D. Bad grade is acceptable, but bad quality is not.
73. Value analysis examines the ________.
Correct : D. All of the above
74. Value analysis is normally applied to _____.
Correct : B. Old products
75. Value can be defined as the combination of _______ which ensures the ultimate economy and satisfaction of the customer.
Correct : A. Efficiency, quality, service and price
76. Value is the cost directly proportionate to ________.
Correct : B. Function
77. The price paid by the buyer is ________.
Correct : B. Use value
78. The cost incurred by the manufacturer beyond use value is called
Correct : B. Esteem value
79. Value analysis is a ____ process
Correct : A. Remedial
80. Value analysis should be applied when the following symptom(s) is (are) present
Correct : D. All of the above
81. Who is named as Father of Value Analysis?
Correct : A. Lawrence D. Miles
82. Important reason(s) for arising unnecessary costs are
Correct : D. All of the above
83. The costs those which neither contributes to function nor the appearance of the product is called
Correct : B. Unnecessary cost
84. Customer –centered companies are skilled in _______
Correct : C. Both (a) and (b)
85. “The only value you will ever create is the value that comes from customers, the ones you have now and the once you will have in the future”, is said by ______.
Correct : C. Don Pappers and Martha Rogers
86. In the modern customer-Organization chart the entity on the top are ______.
Correct : A. Customers
87. __________ is the gap between the prospective customer’s assessment of all the advantages and all the costs of an offering and the perceived options.
Correct : A. Customers-perceived value
88. Total customer costs is made up of _______
Correct : C. Both A and B.
89. Managers conduct a _________to know the company’s weakness and strength a relative to those of
various peers.
Correct : C. Customer value analysis
90. A customer adds up all the functional, psychological and economic benefits from _____sources.
Correct : A. Products, services, personnel and image
91. ____________ is the apparent monetary value of the bundle of functional, psychological and economic advantages consumers expect from a given market offering because of the products, services, personnel and image involved.
Correct : C. Total customer benefit
92. ____________ is the perceived package of costs customers anticipate to incur in assessing, obtaining, utilizing and disposing of the given market offering, including time, monetary, energy and psychological costs.
Correct : B. Total customer cost
93. The seller must evaluate__________ related with each peer company’s offer in order to know how their offer rates in the buyer’s mind.
Correct : C. Both A & B
94. _______is a person’s feelings of disappointment or pleasure that result from evaluating a product’s perceived performance to their expectations.
Correct : B. Customer satisfaction
95. The link between the customer loyalty and customer satisfaction is _____
Correct : B. Non-proportional
96. What is the Use value of Pencil
Correct : B. For smooth flow
97. Which statement is correct?
Correct : A. Value is inversely proportional to Cost