Question 1

Why are customers often considered the most important sources of new-product ideas?

Accepted Answer

A)  Customers are close to the market and can pass along information about problems and new-product possibilities. 
B)  The company can analyze customer questions and complaints to find new products that better solve consumer problems. 
C)  Customers buy competing new products, take them apart to see how they work, analyze sales, and then decide to purchase. 
D)  Customers review the sales, costs, and profit projections for a new product to find out whether the product satisfies the company's objectives. 
E)  Customers estimate the minimum and maximum sales to assess the range of risk. 
A)  Customers are close to the market and can pass along information about problems and new-product possibilities. 
B)  The company can analyze customer questions and complaints to find new products that better solve consumer problems. 
C)  Customers buy competing new products, take them apart to see how they work, analyze sales, and then decide to purchase. 
D)  Customers review the sales, costs, and profit projections for a new product to find out whether the product satisfies the company's objectives. 
E)  Customers estimate the minimum and maximum sales to assess the range of risk.

Question 2

Some products that have entered the decline stage have been cycled back to the growth stage through ________.

Accepted Answer

A)  repositioning 
B)  ambush marketing 
C)  proximity mapping 
D)  dumping 
E)  offshoring 
A)  repositioning 
B)  ambush marketing 
C)  proximity mapping 
D)  dumping 
E)  offshoring

Question 3

Which of the following statements best explains why idea screening may be the most important step of new-product development?

Accepted Answer

A)  It increases the number of ideas generated. 
B)  It provides an opportunity for the marketer to test the prototype in a simulated market. 
C)  It helps forecast the products' sales and profits accurately for a specific period. 
D)  It gives research and development team members an opportunity to gather consumer feedback. 
E)  It saves the company money in product development costs by going ahead with only the product ideas that are likely to be profitable. 
A)  It increases the number of ideas generated. 
B)  It provides an opportunity for the marketer to test the prototype in a simulated market. 
C)  It helps forecast the products' sales and profits accurately for a specific period. 
D)  It gives research and development team members an opportunity to gather consumer feedback. 
E)  It saves the company money in product development costs by going ahead with only the product ideas that are likely to be profitable.

Question 4

A style is best defined as a ________.

Accepted Answer

A)  currently popular trend in retail goods 
B)  popular consumer taste at a given time 
C)  temporary period of unusually high sales 
D)  short-term component of the marketing mix 
E)  basic and distinctive mode of expression 
A)  currently popular trend in retail goods 
B)  popular consumer taste at a given time 
C)  temporary period of unusually high sales 
D)  short-term component of the marketing mix 
E)  basic and distinctive mode of expression

Question 5

Which of the following statements is true of test marketing?

Accepted Answer

A)  The amount of test marketing needed remains constant for each new product. 
B)  When the costs of developing and introducing the product are low, the company will have to do significant test marketing. 
C)  Test marketing is seldom done on products that are risky. 
D)  Test marketing is seldom done when management is not sure of the product or its marketing program. 
E)  Test marketing costs can be high, and it takes time that may allow competitors to gain advantages. 
A)  The amount of test marketing needed remains constant for each new product. 
B)  When the costs of developing and introducing the product are low, the company will have to do significant test marketing. 
C)  Test marketing is seldom done on products that are risky. 
D)  Test marketing is seldom done when management is not sure of the product or its marketing program. 
E)  Test marketing costs can be high, and it takes time that may allow competitors to gain advantages.

Question 6

Which of the following is included in the second part of the marketing strategy statement?

Accepted Answer

A)  advertising tagline 
B)  promotional mix 
C)  planned price 
D)  customer segmentation 
E)  operational excellence 
A)  advertising tagline 
B)  promotional mix 
C)  planned price 
D)  customer segmentation 
E)  operational excellence

Question 7

An attractive product idea must be developed into a ________.

Accepted Answer

A)  concept alternative 
B)  product concept 
C)  brand personality 
D)  brand placement 
E)  product strategy 
A)  concept alternative 
B)  product concept 
C)  brand personality 
D)  brand placement 
E)  product strategy

Question 8

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

Accepted Answer

A)  growth 
B)  decline 
C)  maturity 
D)  introduction 
E)  development 
A)  growth 
B)  decline 
C)  maturity 
D)  introduction 
E)  development

Question 9

Which of the following involves costs that most likely occur during the commercialization stage of new-product development?

Accepted Answer

A)  building or renting a manufacturing facility 
B)  paying target customers for product feedback 
C)  determining the product's planned distribution 
D)  developing a prototype of the product 
E)  identifying target markets 
A)  building or renting a manufacturing facility 
B)  paying target customers for product feedback 
C)  determining the product's planned distribution 
D)  developing a prototype of the product 
E)  identifying target markets

Question 10

When Kraft focused on cost-cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.

Accepted Answer

A)  extend 
B)  modify 
C)  drop 
D)  harvest 
E)  analyze 
A)  extend 
B)  modify 
C)  drop 
D)  harvest 
E)  analyze

Question 11

When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and Awesome Orange to revitalize consumer buying, the company was modifying the ________.

Accepted Answer

A)  market 
B)  pricing strategy 
C)  distribution 
D)  product 
E)  competition 
A)  market 
B)  pricing strategy 
C)  distribution 
D)  product 
E)  competition

Question 12

Which of the following focuses on finding new ways to solve customer problems and create more customer-satisfying experiences?

Accepted Answer

A)  concept testing process 
B)  customer value proposition 
C)  customer-centered new-product development 
D)  customer lifetime value 
E)  team-based new-product development 
A)  concept testing process 
B)  customer value proposition 
C)  customer-centered new-product development 
D)  customer lifetime value 
E)  team-based new-product development

Question 13

Due to dropping sales, a company that manufactures soaps begins to sell them to restaurants and hotels to extend their product's life. The soap manufacturer is in the ________ stage of PLC.

Accepted Answer

A)  introduction 
B)  growth 
C)  maturity 
D)  decline 
E)  development 
A)  introduction 
B)  growth 
C)  maturity 
D)  decline 
E)  development

Question 14

The distribution strategy during the decline stage of PLC involves building more intensive distribution networks.

Accepted Answer

A) True 
 B)False

Question 15

Explain why the PLC can be applied to more than just brands.

Accepted Answer

The PLC can be applied to new products a

Question 16

Which stage of new-product development requires management to estimate minimum and maximum sales to assess the range of risk in launching a new product?

Accepted Answer

A)  concept testing 
B)  marketing strategy development 
C)  business analysis 
D)  product development 
E)  test marketing 
A)  concept testing 
B)  marketing strategy development 
C)  business analysis 
D)  product development 
E)  test marketing

Question 17

A marketer has chosen a multiple-city test market. What can be concluded from this choice of a multiple-city test market?

Accepted Answer

The marketer likely understand

Question 18

Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to check competition. Kellogg's is in the ________ stage of the product life cycle.

Accepted Answer

A)  introduction 
B)  growth 
C)  maturity 
D)  decline 
E)  adoption 
A)  introduction 
B)  growth 
C)  maturity 
D)  decline 
E)  adoption

Question 19

Profits drop during the growth stage of the PLC because per customer promotion costs are high.

Accepted Answer

A) True 
 B)False

Question 20

How might a firm benefit from implementing an "intrapreneurial" program?

Accepted Answer

Many companies have developed successful

Why are customers often considered the most important sources of new-product ideas?

Some products that have entered the decline stage have been cycled back to the growth stage through ________.

Which of the following statements best explains why idea screening may be the most important step of new-product development?

A style is best defined as a ________.

Which of the following statements is true of test marketing?

Which of the following is included in the second part of the marketing strategy statement?

An attractive product idea must be developed into a ________.

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

Which of the following involves costs that most likely occur during the commercialization stage of new-product development?

When Kraft focused on cost-cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.

When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and Awesome Orange to revitalize consumer buying, the company was modifying the ________.

Which of the following focuses on finding new ways to solve customer problems and create more customer-satisfying experiences?

Due to dropping sales, a company that manufactures soaps begins to sell them to restaurants and hotels to extend their product's life. The soap manufacturer is in the ________ stage of PLC.

The distribution strategy during the decline stage of PLC involves building more intensive distribution networks.

Explain why the PLC can be applied to more than just brands.

Which stage of new-product development requires management to estimate minimum and maximum sales to assess the range of risk in launching a new product?

A marketer has chosen a multiple-city test market. What can be concluded from this choice of a multiple-city test market?

Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to check competition. Kellogg's is in the ________ stage of the product life cycle.

Profits drop during the growth stage of the PLC because per customer promotion costs are high.

How might a firm benefit from implementing an "intrapreneurial" program?

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 9: New-Product Development and Product Life Cycle Strategies

Why are customers often considered the most important sources of new-product ideas?

Some products that have entered the decline stage have been cycled back to the growth stage through ________.

Which of the following statements best explains why idea screening may be the most important step of new-product development?

A style is best defined as a ________.

Which of the following statements is true of test marketing?

Which of the following is included in the second part of the marketing strategy statement?

An attractive product idea must be developed into a ________.

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

Which of the following involves costs that most likely occur during the commercialization stage of new-product development?

When Kraft focused on cost-cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.

When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and Awesome Orange to revitalize consumer buying, the company was modifying the ________.

Which of the following focuses on finding new ways to solve customer problems and create more customer-satisfying experiences?

Due to dropping sales, a company that manufactures soaps begins to sell them to restaurants and hotels to extend their product's life. The soap manufacturer is in the ________ stage of PLC.

The distribution strategy during the decline stage of PLC involves building more intensive distribution networks.

Explain why the PLC can be applied to more than just brands.

Which stage of new-product development requires management to estimate minimum and maximum sales to assess the range of risk in launching a new product?

A marketer has chosen a multiple-city test market. What can be concluded from this choice of a multiple-city test market?

Kellogg's begins to sell its cereals in new markets after conducting extensive marketing research. After the cereal begins to appear in these new markets, the company increases its promotion expenditure to check competition. Kellogg's is in the ________ stage of the product life cycle.

Profits drop during the growth stage of the PLC because per customer promotion costs are high.

How might a firm benefit from implementing an "intrapreneurial" program?

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behavior

Business Markets and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters