The following is the source(s) for developing new or improved product

Research and Development department of the enterprise

Consumer suggestions and Complaints

Other competitive products in the market

Product cost can be reduced by considering the following aspect(s) at the design stage

Unnecessary tight tolerance should not be provided

Design should consist of standard parts

Sales decline in the decline stage of the PLC because of technological advances, increased competition, and ________.

shifts in consumer tastes and preferences

Total customer costs is made up of _______

Energy cost and psychological cost

A customer adds up all the functional, psychological and economic benefits from _____sources.

Products, services, personnel and image

Schmidt Steel Corporation lacks the confidence, capital, and capacity to launch its new steel product into full national or international distribution. Even though test market results look promising, what will be management's next step?

seek the help of a nationally known consultant

retest the product in additional markets

develop a planned market rollout over time

seek the help of a nationally known consultant

secure a loan to provide confidence, capital, and capacity

The advantages of standardizing an international product include all of the following except ________.

the adaptation of products to different markets

the development of a consistent image

The major purpose of test marketing is to provide management with the information needed to make a final decision about ________.

whether to launch the new product

how to develop a market strategy

how long to compete in the market

The PLC concept can be applied by marketers as a useful framework for describing how ________.

to develop marketing strategies

to forecast product performance

Which of the following costs is most likely associated with the commercialization stage of newproduct development?

paying groups of target consumers for product feedback

developing a prototype of the product

building or renting a manufacturing facility

paying groups of target consumers for product feedback

determining the product's planned price, distribution, and marketing budget

What are the two ways that a company can obtain new products?

internal development and merger

line extension and brand management

service development and product extension

new-product development and acquisition

internal development and merger

market mix modification and research and development

Which of the following is not a potential cause of the failure of a new product?

an incorrectly positioned product

higher than anticipated costs of product development

Which of the following is necessary for successful new-product development?

a holistic and sequential product development approach

a market pioneer mindset and a holistic approach

an innovation management system and sequential product development

a team-based, innovation-management approach

a customer-centered, team-based, systematic approach

a holistic and sequential product development approach

Which of the following is a disadvantage of a team-based approach to new-product development?

It takes longer to get the right products to market.

Organizational confusion and tension can be a part of the process.

The development effort is not as effective because of team members' lack of expertise.

The process does not work with the shorter life cycles of many of today's products.

It takes longer to get the right products to market.

Levels of risk can be more easily controlled.

Under what circumstances might it be wise for a company to do little or no test marketing?

When management is not sure of the product.

When the product has no substitutes and is new in its category.

When a new product requires a major investment.

When the costs of developing and introducing the product are low.

When management is not sure of the product.

When management is not sure of the marketing program.

128 + Mcqs in Product Design and Value Engineering in Mechanical Engineering Page 1 McqOptions

1.	The ultimate objective of the product is
A.	To provide a new look
B.	Utilizing existing manpower
C.	To monopolize the market
D.	All of the above
Answer» D. All of the above

Discussion

2.	The following is the preliminary stage of Production planning
A.	Capacity planning
B.	Material requirements planning
C.	Scheduling
D.	Product development and design
Answer» E.

Discussion

3.	The following is the source(s) for developing new or improved product
A.	Research and Development department of the enterprise
B.	Consumer suggestions and Complaints
C.	Other competitive products in the market
D.	All of the above
Answer» E.

Discussion

4.	Value is the cost directly proportionate to ________.
A.	Price
B.	Function
C.	Product Material
D.	All of the above
Answer» C. Product Material

Discussion

5.	The price paid by the buyer is ________.
A.	Cost value
B.	Use value
C.	Esteem value
D.	Exchange value
Answer» C. Esteem value

Discussion

6.	Product cost can be reduced by considering the following aspect(s) at the design stage
A.	Minimum number of operations
B.	Unnecessary tight tolerance should not be provided
C.	Design should consist of standard parts
D.	All of the above
Answer» E.

Discussion

7.	The costs those which neither contributes to function nor the appearance of the product is called
A.	Extra cost
B.	Unnecessary cost
C.	Esteem cost
D.	Exchange cost
Answer» C. Esteem cost

Discussion

8.	Sales decline in the decline stage of the PLC because of technological advances, increased competition, and ________.
A.	marketing mix modifications
B.	shifts in consumer tastes and preferences
C.	shifts in the economy
D.	new market pioneers
E.	shifts in unemployment
Answer» C. shifts in the economy

Discussion

9.	Customer centered companies are skilled in _______
A.	Market engineering
B.	Product engineering
C.	Both (a) and (b)
D.	None of the above
Answer» D. None of the above

Discussion

10.	__________ is the gap between the prospective customer s assessment of all the advantages and all the costs of an offering and the perceived options.
A.	Customers-perceived value
B.	Total customer benefit
C.	Total customer cost
D.	None of the above
Answer» B. Total customer benefit

Discussion

11.	Total customer costs is made up of _______
A.	Monetary cost and time cost
B.	Energy cost and psychological cost
C.	Both A and B.
D.	None of the above
Answer» D. None of the above

Discussion

12.	____________ 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.
A.	Customer-perceived value
B.	Total customer cost
C.	Total customer benefit
D.	None of the above
Answer» C. Total customer benefit

Discussion

13.	A customer adds up all the functional, psychological and economic benefits from _____sources.
A.	Products, services, personnel and image
B.	Products and services
C.	Products and personnel
D.	Only personnel
Answer» B. Products and services

Discussion

14.	Managers conduct a _________to know the company s weakness and strength a relative to those of various peers.
A.	Product value analysis
B.	Service value analysis
C.	Customer value analysis
D.	None of the above
Answer» D. None of the above

Discussion

15.	____________ 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.
A.	Customer-perceived value
B.	Total customer cost
C.	Total customer benefit
D.	None of the above
Answer» D. None of the above

Discussion

16.	A _____ is the way consumers perceive an actual or potential product.
A.	product idea
B.	product concept
C.	product image
D.	test market
Answer» D. test market

Discussion

17.	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 ______.
A.	Philip Kotler
B.	Abraham Koshy
C.	Don Pappers and Martha Rogers
D.	None of the above
Answer» D. None of the above

Discussion

18.	In the modern customer-Organization chart the entity on the top are ______.
A.	Customers
B.	Top Management
C.	Frontline people
D.	None of the above
Answer» B. Top Management

Discussion

19.	The link between the customer loyalty and customer satisfaction is _____
A.	Proportional
B.	Non-proportional
C.	Unaffected
D.	None of the above
Answer» C. Unaffected

Discussion

20.	What is the Use value of Pencil
A.	It contains Ink
B.	For smooth flow
C.	To Mark
D.	None of the above
Answer» C. To Mark

Discussion

21.	The seller must evaluate__________ related with each peer company s offer in order to know how their offer rates in the buyer s mind.
A.	Total customer benefit
B.	Total customer cost
C.	Both A & B
D.	None of the above
Answer» D. None of the above

Discussion

22.	_______is a person s feelings of disappointment or pleasure that result from evaluating a product s perceived performance to their expectations.
A.	Customer loyalty
B.	Customer satisfaction
C.	Customer value
D.	none of the above
Answer» C. Customer value

Discussion

23.	Value engineering is also called ________.
A.	Value analysis
B.	Value Management
C.	Value Methodology
D.	All of the above
Answer» E.

Discussion

24.	The Economic value consists following
A.	Economic value
B.	Cost value
C.	Esteem
D.	All of the above
Answer» C. Esteem

Discussion

25.	What is the sell function of bed sheet ?
A.	For good appearance
B.	To avoid dust
C.	To cover mattress
D.	None of the above
Answer» B. To avoid dust

Discussion

26.	In the concept testing stage of new-product development, a product concept in ________ form is presented to groups of target consumers.
A.	final
B.	prototype
C.	market-tested
D.	physical or symbolic
E.	commercial
Answer» E. commercial

Discussion

27.	Which phase is not available in SAVE plan methodology?
A.	Information
B.	Creative
C.	Execution
D.	Recommendation
Answer» E.

Discussion

28.	Schmidt Steel Corporation lacks the confidence, capital, and capacity to launch its new steel product into full national or international distribution. Even though test market results look promising, what will be management's next step?
A.	develop a prototype
B.	retest the product in additional markets
C.	develop a planned market rollout over time
D.	seek the help of a nationally known consultant
E.	secure a loan to provide confidence, capital, and capacity
Answer» D. seek the help of a nationally known consultant

Discussion

29.	Mattel's Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC.
A.	introduction
B.	decline
C.	maturity
D.	growth
E.	adoption
Answer» D. growth

Discussion

30.	The advantages of standardizing an international product include all of the following except ________.
A.	the adaptation of products to different markets
B.	lower product design costs
C.	decreased manufacturing costs
D.	lower marketing costs
E.	the development of a consistent image
Answer» B. lower product design costs

Discussion

31.	Most products in the marketplace are in the ________ stage of the product life cycle.
A.	growth
B.	introduction
C.	decline
D.	maturity
E.	development
Answer» E. development

Discussion

32.	The major purpose of test marketing is to provide management with the information needed to make a final decision about ________.
A.	whether to launch the new product
B.	which market to compete in
C.	how to develop a market strategy
D.	how long to compete in the market
E.	how to compete in the market
Answer» B. which market to compete in

Discussion

33.	The PLC concept can be applied by marketers as a useful framework for describing how ________.
A.	to develop marketing strategies
B.	concept testing is conducted
C.	to forecast product performance
D.	products and markets work
E.	product ideas are developed
Answer» E. product ideas are developed

Discussion

34.	The search for new-product ideas should be ________ rather than haphazard.
A.	intermittent
B.	seldom
C.	segmented
D.	systematic
E.	strategically planned
Answer» E. strategically planned

Discussion

35.	The second part of the marketing strategy statement outlines the product's planned price, distribution, and ________ for the first year.
A.	marketing budget
B.	advertising
C.	target market
D.	positioning
E.	promotion
Answer» B. advertising

Discussion

36.	Which of the following costs is most likely associated with the commercialization stage of newproduct development?
A.	identifying target markets
B.	developing a prototype of the product
C.	building or renting a manufacturing facility
D.	paying groups of target consumers for product feedback
E.	determining the product's planned price, distribution, and marketing budget
Answer» D. paying groups of target consumers for product feedback

Discussion

37.	The team-based new-product development approach is faster because departments work closely together through _______.
A.	a step-by-step process
B.	departmentalization
C.	team efforts
D.	cross-functional teams
E.	the help of a consultant
Answer» E. the help of a consultant

Discussion

38.	What are the two ways that a company can obtain new products?
A.	line extension and brand management
B.	service development and product extension
C.	new-product development and acquisition
D.	internal development and merger
E.	market mix modification and research and development
Answer» D. internal development and merger

Discussion

39.	Which of the following is not a potential cause of the failure of a new product?
A.	ineffective advertising
B.	an underestimated market size
C.	an incorrectly positioned product
D.	a poorly designed product
E.	higher than anticipated costs of product development
Answer» C. an incorrectly positioned product

Discussion

40.	Which of the following cannot be described by the PLC concept?
A.	brand
B.	styles
C.	product image
D.	product form
E.	product class
Answer» D. product form

Discussion

41.	Which of the following is necessary for successful new-product development?
A.	a market pioneer mindset and a holistic approach
B.	an innovation management system and sequential product development
C.	a team-based, innovation-management approach
D.	a customer-centered, team-based, systematic approach
E.	a holistic and sequential product development approach
Answer» E. a holistic and sequential product development approach

Discussion

42.	Which of the following is a disadvantage of a team-based approach to new-product development?
A.	Organizational confusion and tension can be a part of the process.
B.	The development effort is not as effective because of team members' lack of expertise.
C.	The process does not work with the shorter life cycles of many of today's products.
D.	It takes longer to get the right products to market.
E.	Levels of risk can be more easily controlled.
Answer» D. It takes longer to get the right products to market.

Discussion

43.	Under what circumstances might it be wise for a company to do little or no test marketing?
A.	When the product has no substitutes and is new in its category.
B.	When a new product requires a major investment.
C.	When the costs of developing and introducing the product are low.
D.	When management is not sure of the product.
E.	When management is not sure of the marketing program.
Answer» D. When management is not sure of the product.

Discussion

44.	Your firm wants to use external sources for new product ideas. After consulting with a friend you learn that all of the following are common external sources except ________.
A.	the firm's executives
B.	customers
C.	trade shows and magazines
D.	competitors
E.	suppliers
Answer» B. customers

Discussion

45.	Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers?
A.	introduction
B.	phase-in
C.	decline
D.	maturity
E.	growth
Answer» E. growth

Discussion

46.	A _____ is a detailed version of the idea stated in meaningful consumer terms.
A.	product idea
B.	product concept
C.	product image
D.	test market
Answer» C. product image

Discussion

47.	What is the sell function of curtain ?
A.	To cover window
B.	For aesthetic
C.	Prevent dust
D.	All of the above
Answer» C. Prevent dust

Discussion

48.	Value Engineering can be applied in the following area _________.
A.	Construction
B.	Process
C.	Manufacturing
D.	All of the above
Answer» E.

Discussion

49.	Problem solving consists of
A.	Identifying problem
B.	Thorough study of problem
C.	Creating alternatives
D.	All of the above
Answer» E.

Discussion

50.	Which Job plan phase is mostly preferred by Value engineering?
A.	Identification
B.	Creative
C.	Evaluation
D.	Development
Answer» B. Creative

Discussion

Explore topic-wise MCQs in Mechanical Engineering.

The ultimate objective of the product is

The following is the preliminary stage of Production planning

The following is the source(s) for developing new or improved product

Value is the cost directly proportionate to ________.

The price paid by the buyer is ________.

Product cost can be reduced by considering the following aspect(s) at the design stage

The costs those which neither contributes to function nor the appearance of the product is called

Sales decline in the decline stage of the PLC because of technological advances, increased competition, and ________.

Customer centered companies are skilled in _______

__________ is the gap between the prospective customer s assessment of all the advantages and all the costs of an offering and the perceived options.

Total customer costs is made up of _______

____________ 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.

A customer adds up all the functional, psychological and economic benefits from _____sources.

Managers conduct a _________to know the company s weakness and strength a relative to those of various peers.

____________ 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.

A _____ is the way consumers perceive an actual or potential product.

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 ______.

In the modern customer-Organization chart the entity on the top are ______.

The link between the customer loyalty and customer satisfaction is _____

What is the Use value of Pencil

The seller must evaluate__________ related with each peer company s offer in order to know how their offer rates in the buyer s mind.

_______is a person s feelings of disappointment or pleasure that result from evaluating a product s perceived performance to their expectations.

Value engineering is also called ________.

The Economic value consists following

What is the sell function of bed sheet ?

In the concept testing stage of new-product development, a product concept in ________ form is presented to groups of target consumers.

Which phase is not available in SAVE plan methodology?

Schmidt Steel Corporation lacks the confidence, capital, and capacity to launch its new steel product into full national or international distribution. Even though test market results look promising, what will be management's next step?

Mattel's Barbie is an example of an age-defying product. Barbie, simultaneously timeless and trendy, is in the ________ stage of the PLC.

The advantages of standardizing an international product include all of the following except ________.

Most products in the marketplace are in the ________ stage of the product life cycle.

The major purpose of test marketing is to provide management with the information needed to make a final decision about ________.

The PLC concept can be applied by marketers as a useful framework for describing how ________.

The search for new-product ideas should be ________ rather than haphazard.

The second part of the marketing strategy statement outlines the product's planned price, distribution, and ________ for the first year.

Which of the following costs is most likely associated with the commercialization stage of newproduct development?

The team-based new-product development approach is faster because departments work closely together through _______.

What are the two ways that a company can obtain new products?

Which of the following is not a potential cause of the failure of a new product?

Which of the following cannot be described by the PLC concept?

Which of the following is necessary for successful new-product development?

Which of the following is a disadvantage of a team-based approach to new-product development?

Under what circumstances might it be wise for a company to do little or no test marketing?

Your firm wants to use external sources for new product ideas. After consulting with a friend you learn that all of the following are common external sources except ________.

Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers?

A _____ is a detailed version of the idea stated in meaningful consumer terms.

What is the sell function of curtain ?

Value Engineering can be applied in the following area _________.

Problem solving consists of

Which Job plan phase is mostly preferred by Value engineering?