140+ Product Design and Value Engineering Solved MCQs

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

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

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

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

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

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106.	Maximum team size of Value analysis or Value Engineering?
A.	16
B.	30
C.	15
D.	6
Answer» D. 6

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

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108.	What is the basic function of refrigeration system?
A.	Protect food
B.	Produce low temperature
C.	Cool content
D.	Freeze water
Answer» B. Produce low temperature

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109.	The cost value includes ________.
A.	Material cost
B.	Labor cost
C.	Material cost, labor cost and overhead cost
D.	None
Answer» C. Material cost, labor cost and overhead cost

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110.	The value is ___________.
A.	Same for every one
B.	Different for different people
C.	Different of different geographies
D.	None
Answer» A. Same for every one

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111.	The lowest overall cost of the product also known as _______.
A.	Cost value
B.	Worth
C.	Esteem value
D.	Use value
Answer» A. Cost value

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112.	The value can be increased by ___________.
A.	Increasing performance
B.	Decreasing cost
C.	Both a & b
D.	None
Answer» C. Both a & b

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113.	Who will nominate Value Engineering TEAM?
A.	Management
B.	Design
C.	Marketing
D.	None of the above
Answer» A. Management

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114.	Who will participate in VE TEAM?
A.	Full time team
B.	Full time manager
C.	Individual
D.	None of the above
Answer» C. Individual

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115.	What is key factor of value engineering?
A.	Identify unnecessary cost
B.	Identify necessary cost
C.	Both a & B
D.	None of the above
Answer» A. Identify unnecessary cost

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116.	Out of the seven types of values as per Aristotle, VA/VE concentrates on
A.	Political value
B.	Economic Value
C.	Spiritual value
D.	Religious value
Answer» B. Economic Value

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117.	Market value at any point of time is the _______.
A.	Cost value
B.	Esteem value
C.	Worth
D.	Use value
Answer» B. Esteem value

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118.	A detailed version of a new idea stated in meaningful customer terms is called a ________.
A.	product movement
B.	product image
C.	product idea
D.	product concept
E.	none
Answer» D. product concept

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119.	A manufacturer with a product in the decline stage of the product life cycle might decide to ________ if it has reason to hope that competitors will leave the industry.
A.	delay planning
B.	harvest the product
C.	maintain the product without change
D.	search for replacements
E.	drop the product
Answer» C. maintain the product without change

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120.	An attractive idea must be developed into a ________.
A.	product idea
B.	product image
C.	test market
D.	product concept
E.	product strategy
Answer» D. product concept

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121.	During which stage of new-product development is management most likely to estimate minimum and maximum sales to assess the range of risk in launching a new product?
A.	business analysis
B.	product development
C.	marketing strategy development
D.	test marketing
E.	concept testing
Answer» A. business analysis

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122.	Executives, manufacturing employees, and salespeople are all examples of ________.
A.	core members of innovation management systems
B.	new-product committee members
C.	external sources for new-product ideas
D.	internal sources for new-product ideas
E.	research and development team members
Answer» C. external sources for new-product ideas

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123.	GrayBerry Gifts has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage, called ________ , to arrive at a realistic number to adopt.
A.	idea screening
B.	idea generation
C.	concept development
D.	idea dissemination
E.	product concept
Answer» A. idea screening

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124.	In the ________ stage of new-product development, products often undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.
A.	idea generation
B.	concept development and testing
C.	product development
D.	marketing mix
E.	business analysis
Answer» C. product development

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125.	In the ________ stage, the firm faces a trade-off between high market share and high current profit.
A.	commercialization
B.	introduction
C.	growth
D.	decline
E.	maturity
Answer» C. growth

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126.	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» D. physical or symbolic

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127.	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» C. maturity

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128.	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» D. maturity

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129.	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» B. shifts in consumer tastes and preferences

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130.	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» C. develop a planned market rollout over time

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131.	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» A. the adaptation of products to different markets

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132.	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» A. whether to launch the new product

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133.	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» D. products and markets work

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

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135.	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» A. marketing budget

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136.	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» D. cross-functional teams

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137.	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» C. When the costs of developing and introducing the product are low.

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138.	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» C. new-product development and acquisition

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139.	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» C. product image

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140.	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» C. building or renting a manufacturing facility

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141.	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» B. an underestimated market size

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

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143.	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» D. a customer-centered, team-based, systematic approach

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144.	Which of the following is perhaps the most important external source of new-product ideas?
A.	engineers
B.	distributors and suppliers
C.	competitors
D.	customers
E.	trade magazines, shows, and seminars
Answer» D. customers

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145.	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» D. maturity

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146.	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» A. the firm's executives

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140+ Product Design and Value Engineering Solved MCQs

Which phase is not available in SAVE plan methodology?

Value Engineering can be applied in the following area _________.

What is the sell function of curtain ?

Problem solving consists of

Which Job plan phase is mostly preferred by Value engineering?

Maximum team size of Value analysis or Value Engineering?

Problem solving consists of _________.

What is the basic function of refrigeration system?

The cost value includes ________.

The value is ___________.

The lowest overall cost of the product also known as _______.

The value can be increased by ___________.

Who will nominate Value Engineering TEAM?

Who will participate in VE TEAM?

What is key factor of value engineering?

Out of the seven types of values as per Aristotle, VA/VE concentrates on

Market value at any point of time is the _______.

A detailed version of a new idea stated in meaningful customer terms is called a ________.

A manufacturer with a product in the decline stage of the product life cycle might decide to ________ if it has reason to hope that competitors will leave the industry.

An attractive idea must be developed into a ________.

During which stage of new-product development is management most likely to estimate minimum and maximum sales to assess the range of risk in launching a new product?

Executives, manufacturing employees, and salespeople are all examples of ________.

GrayBerry Gifts has just brainstormed a large number of ideas for adding new products and services after visiting several buying fairs. The owners will begin the first idea-reducing stage, called ________ , to arrive at a realistic number to adopt.

In the ________ stage of new-product development, products often undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.

In the ________ stage, the firm faces a trade-off between high market share and high current profit.

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

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

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

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

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?

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

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.

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

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

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

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

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

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

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

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

Which of the following is perhaps the most important external source of new-product ideas?

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

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 ________.