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

CellTones, a new company selling several types of cellular phones, has closely modeled its products after successful products that are already in the marketplace. As it prepares to enter the market with its new products and services, which of the following should concern CellTones the most?

According to the text, the search for new-product ideas should most likely be ________.

Manufacturers must comply with specific laws regarding ________.

Harvesting the product involves reducing various costs such as maintenance, R&D, and advertising to increase sales.

Acquisition refers to ________.

Electron Corp. purchased Proton Corp. by buying all of its assets and ownership equity. This is an example of a(n) ________.

Apple's iPod has been called "one of the greatest consumer electronics hits of all time." iPods have been sold in huge numbers, and Apple captures a large share of the music player market. This success has attracted many large, resourceful competitors. The iPod is in the ________ stage of the product life cycle.

P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Mills became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. General Foods was able to enter the ________ stage of the new-product development process before P&G could.

Describe three public policy issues or regulations that marketers should carefully consider as they make decisions about adding or dropping products.

Introducing a new product into the market is called ________.

Why do ad expenditures remain high in the growth stage of the PLC?

Flurrbies, a brand of unique winter accessories that quickly fell in and out of favorability with customers, is an example of a ________.

P&G has sold off a number of lesser or declining brands such as Oxydol detergent and Jif peanut butter. In these examples, management decided to ________ the products.

What is included in the first part of a marketing strategy statement?

________ is the product life cycle period when sales fall off and profits drop.

Under a team-based new-product development approach, ________.

GreenTree Lawn and Garden Products is engaged in marketing strategy development. The first part of the marketing strategy statement created by management should outline the product's planned price, distribution, and marketing budget for the first year.

Explain how the PLC applies differently to a product class than to a product form.

A marketer has selected a single city in which to conduct a test market. What can be concluded from this choice of a single-city test market?

The more formal "business attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s. This is an example of a ________.