McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Mechanical Engineering .
| 51. |
_____ is the stage of new-product development in which the product and marketing program are tested in more realistic market settings. |
| A. | Business analysis |
| B. | Idea generation |
| C. | Test marketing |
| D. | Marketing strategy development |
| Answer» C. Test marketing | |
| 52. |
All of the following are accurate descriptions of test marketing, except which one? |
| A. | Test marketing is the stage at which the product and marketing program are introduced into realistic market settings. |
| B. | Test marketing by consumer-packaged goods firms has been increasing in recent years. |
| C. | Test marketing costs can be high, and it takes time that may allow competitors to gain advantages. |
| D. | Companies often do not test market simple line extensions. |
| Answer» B. Test marketing by consumer-packaged goods firms has been increasing in recent years. | |
| 53. |
Introducing a new product into the market is called _____. |
| A. | test marketing |
| B. | new product development |
| C. | experimenting |
| D. | commercialization |
| Answer» D. commercialization | |
| 54. |
A company getting ready to launch a new product must make several decisions. However, the company must first decide on _____. |
| A. | whether to launch the product in a single location |
| B. | whether to launch the product in a region |
| C. | whether to launch the product into full national or international distribution |
| D. | timing of the new product introduction |
| Answer» 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. |
| A. | Team-based product development |
| B. | Simultaneous product development |
| C. | Sequential product development |
| D. | Product life-cycle analysis |
| Answer» 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 _____. |
| A. | sequential product development |
| B. | simultaneous product development |
| C. | commercialization |
| D. | introduction timing |
| Answer» 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? |
| A. | The simultaneous product development approach is also known as collaborative product development. |
| B. | Company departments work closely together through cross-functional teams. |
| C. | Companies assemble a team of people from various departments that stay with the new product from start to finish. |
| D. | Companies often pass the new product from department to department in each stage of the process. |
| Answer» 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? |
| A. | New-product development teams in the simultaneous approach tend to stay with the new product from start to finish. |
| B. | In the simultaneous approach, top management gives the product development team general strategic direction but no clear-cut product idea or work plan. |
| C. | In order to get their new products to market more quickly, many companies are adopting a faster approach called sequential product development. |
| D. | The simultaneous team-based approach can be riskier and more costly than the slower, more orderly sequential approach. |
| Answer» 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? |
| A. | Superfast product development can be riskier and more costly than the slower, more orderly sequential approach. |
| B. | This approach often creates increased organizational tension and confusion. |
| C. | The objective of this approach is to ensure that rushing a product to market doesn't adversely affect its quality. |
| D. | Top management gives the product development team a clear-cut product idea or work plan. |
| Answer» 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? |
| A. | Thinking of a few good ideas, turning them into products, and finding customers for them. |
| B. | A systematic approach for finding new ways to create value for target consumers, from generating and screening new-product ideas to creating and rolling out want-satisfying products to customers. |
| C. | New-product success requires a total-company commitment. |
| D. | At firms known for their new-product success, their culture does not encourage, support, and reward innovation. |
| Answer» 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. |
| A. | Introduction |
| B. | Growth |
| C. | Maturity |
| D. | Product development |
| Answer» 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. |
| A. | Growth |
| B. | Product development |
| C. | Maturity |
| D. | Introduction |
| Answer» D. Introduction | |
| 63. |
____ is a period of market acceptance and increasing profits. |
| A. | Product development |
| B. | Maturity |
| C. | Growth |
| D. | Introduction |
| Answer» 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. |
| A. | Product life cycle |
| B. | Maturity |
| C. | Growth |
| D. | Decline |
| Answer» A. Product life cycle | |
| 65. |
What does the term PLC stands for? |
| A. | Product life cycle |
| B. | Production life cycle |
| C. | Product long cycle |
| D. | Production long cycle |
| Answer» A. Product life cycle | |
| 66. |
Which of the following is stage of Product Life Cycle? |
| A. | Introduction Stage |
| B. | Growth stage |
| C. | Decline stage |
| D. | All of the above |
| Answer» 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 _____ |
| A. | Purchase cycle cost |
| B. | Cost of responsiveness |
| C. | Life cycle cost |
| D. | Assurance cost |
| Answer» C. Life cycle cost | |
| 68. |
Value for Value Engineering analysis purposes is defined as ________. |
| A. | Purchase value |
| B. | Saleable value |
| C. | Depreciated value |
| D. | Function/Cost |
| Answer» D. Function/Cost | |
| 69. |
Material Requirements Planning DOES NOT include _______. |
| A. | Material price |
| B. | Bill of material |
| C. | Inventory level |
| D. | Production schedule |
| Answer» A. Material price | |
| 70. |
In Total Productive Maintenance, Unplanned downtime Losses include; |
| A. | Equipment Breakdown |
| B. | Shift Changes |
| C. | Unplanned maintenance |
| D. | Options (A) & (C) |
| Answer» D. Options (A) & (C) | |
| 71. |
Productivity increases when __________. |
| A. | inputs increase while outputs remain the same |
| B. | inputs decrease while outputs remain the same |
| C. | outputs decrease while inputs remain the same |
| D. | inputs and outputs increase proportionately |
| Answer» B. inputs decrease while outputs remain the same | |
| 72. |
Which of these is correct with respect to a product developed or a service performed? |
| A. | Neither bad grade nor quality is acceptable |
| B. | Grade and quality is the same thing. |
| C. | Bad quality is acceptable, but bad grade is not. |
| D. | Bad grade is acceptable, but bad quality is not. |
| Answer» D. Bad grade is acceptable, but bad quality is not. | |
| 73. |
Value analysis examines the ________. |
| A. | Design of every component |
| B. | Method of manufacturing |
| C. | Material used |
| D. | All of the above |
| Answer» D. All of the above | |
| 74. |
Value analysis is normally applied to _____. |
| A. | New products |
| B. | Old products |
| C. | Future products |
| D. | Both (A) and (B) |
| Answer» B. Old products | |
| 75. |
Value can be defined as the combination of _______ which ensures the ultimate economy and satisfaction of the customer. |
| A. | Efficiency, quality, service and price |
| B. | Efficiency, quality, service and size |
| C. | Economy, quality, service and price |
| D. | Efficiency, material, service and price |
| Answer» A. Efficiency, quality, service and price | |
| 76. |
Value is the cost directly proportionate to ________. |
| A. | Price |
| B. | Function |
| C. | Product Material |
| D. | All of the above |
| Answer» B. Function | |
| 77. |
The price paid by the buyer is ________. |
| A. | Cost value |
| B. | Use value |
| C. | Esteem value |
| D. | Exchange value |
| Answer» B. Use value | |
| 78. |
The cost incurred by the manufacturer beyond use value is called |
| A. | Cost value |
| B. | Esteem value |
| C. | Exchange value |
| D. | None of the above |
| Answer» B. Esteem value | |
| 79. |
Value analysis is a ____ process |
| A. | Remedial |
| B. | Preventive |
| C. | Continuous |
| D. | None of the above |
| Answer» A. Remedial | |
| 80. |
Value analysis should be applied when the following symptom(s) is (are) present |
| A. | Rate of return on investment is reducing |
| B. | Reduction in sales of the product |
| C. | Firm is unable to meet delivery promises |
| D. | All of the above |
| Answer» D. All of the above | |
| 81. |
Who is named as Father of Value Analysis? |
| A. | Lawrence D. Miles |
| B. | George Terborgh |
| C. | Michael Jucius |
| D. | Edwin B. Flippo |
| Answer» A. Lawrence D. Miles | |
| 82. |
Important reason(s) for arising unnecessary costs are |
| A. | Poor design of product |
| B. | Too tight specifications |
| C. | Lack of standardization |
| D. | All of the above |
| Answer» D. All of the above | |
| 83. |
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» B. Unnecessary cost | |
| 84. |
Customer –centered companies are skilled in _______ |
| A. | Market engineering |
| B. | Product engineering |
| C. | Both (a) and (b) |
| D. | None of the above |
| Answer» 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 ______. |
| A. | Philip Kotler |
| B. | Abraham Koshy |
| C. | Don Pappers and Martha Rogers |
| D. | None of the above |
| Answer» C. Don Pappers and Martha Rogers | |
| 86. |
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» 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. |
| A. | Customers-perceived value |
| B. | Total customer benefit |
| C. | Total customer cost |
| D. | None of the above |
| Answer» A. Customers-perceived value | |
| 88. |
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» C. Both A and B. | |
| 89. |
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» C. Customer value analysis | |
| 90. |
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» 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. |
| A. | Customer-perceived value |
| B. | Total customer cost |
| C. | Total customer benefit |
| D. | None of the above |
| Answer» 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. |
| A. | Customer-perceived value |
| B. | Total customer cost |
| C. | Total customer benefit |
| D. | None of the above |
| Answer» 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. |
| A. | Total customer benefit |
| B. | Total customer cost |
| C. | Both A & B |
| D. | None of the above |
| Answer» 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. |
| A. | Customer loyalty |
| B. | Customer satisfaction |
| C. | Customer value |
| D. | none of the above |
| Answer» B. Customer satisfaction | |
| 95. |
The link between the customer loyalty and customer satisfaction is _____ |
| A. | Proportional |
| B. | Non-proportional |
| C. | Unaffected |
| D. | None of the above |
| Answer» B. Non-proportional | |
| 96. |
What is the Use value of Pencil |
| A. | It contains Ink |
| B. | For smooth flow |
| C. | To Mark |
| D. | None of the above |
| Answer» B. For smooth flow | |
| 97. |
Which statement is correct? |
| A. | Value is inversely proportional to Cost |
| B. | Value is directly proportional to cost |
| C. | Value is inversely proportional to Function |
| D. | None of the above |
| Answer» A. Value is inversely proportional to Cost | |
| 98. |
Value engineering is also called ________. |
| A. | Value analysis |
| B. | Value Management |
| C. | Value Methodology |
| D. | All of the above |
| Answer» D. All of the above | |
| 99. |
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» A. For good appearance | |
| 100. |
The Economic value consists following |
| A. | Economic value |
| B. | Cost value |
| C. | Esteem |
| D. | All of the above |
| Answer» B. Cost value | |
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