Question 1

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

Accepted Answer

A)  to forecast product performance 
B)  to develop marketing strategies 
C)  products and markets work 
D)  concept testing is conducted 
E)  product ideas are developed 
A)  to forecast product performance 
B)  to develop marketing strategies 
C)  products and markets work 
D)  concept testing is conducted 
E)  product ideas are developed C

Question 2

All of the following are accurate descriptions of a style EXCEPT which one?

Accepted Answer

A)  Style products appear in home, clothing, and art. 
B)  Once a style is invented, it may last for generations. 
C)  A style has a cycle showing several periods of renewed interest. 
D)  Styles last only a short time and tend to attract only a limited following. 
E)  Styles are basic and distinctive modes of expression. 
A)  Style products appear in home, clothing, and art. 
B)  Once a style is invented, it may last for generations. 
C)  A style has a cycle showing several periods of renewed interest. 
D)  Styles last only a short time and tend to attract only a limited following. 
E)  Styles are basic and distinctive modes of expression. D

Question 3

Each product will have a life cycle,although its exact shape and length is not known in advance.Briefly explain each step in the PLC.

Accepted Answer

Product development begins when the company finds and develops a new-product idea.Sales are zero and the company's investment costs mount.Introduction is a period of slow sales growth as the product is introduced in the market.Profits are nonexistent in this stage because of the heavy expenses of product introduction.Growth is a period of rapid market acceptance and increasing profits.Maturity is a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers.Profits level off or decline because of increased marketing outlays to defend the product against competition.Decline is the period when sales fall off and profits drop.A company may seek to reinvigorate a product in decline or maintain it hoping competition will diminish or harvest it or drop it.

Question 4

A company launching a new product into the market must first decide on introduction timing.

Accepted Answer

A) True 
 B)False

Question 5

The innovation management system approach yields two favorable outcomes: it helps create an innovation-oriented company culture,and it ________.

Accepted Answer

A)  clearly assigns responsibility for the process 
B)  yields a larger number of new-product ideas 
C)  guarantees successful products 
D)  frees up senior management time 
E)  requires less budget support 
A)  clearly assigns responsibility for the process 
B)  yields a larger number of new-product ideas 
C)  guarantees successful products 
D)  frees up senior management time 
E)  requires less budget support

Question 6

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

Accepted Answer

The government may prevent companies fro

Question 7

At Candy Empire,a large regional chain of candy stores,employees from marketing,design,production,and finance work in a cross-functional group to save time and money in the new-product development process.Candy Empire uses a(n)________ approach.

Accepted Answer

A)  customer-centered new-product development 
B)  sequential new-product development 
C)  team-based new-product development 
D)  innovation management system 
E)  consumer composite 
A)  customer-centered new-product development 
B)  sequential new-product development 
C)  team-based new-product development 
D)  innovation management system 
E)  consumer composite

Question 8

An attractive idea must be developed into a ________.

Accepted Answer

A)  product idea 
B)  product concept 
C)  screened product 
D)  test market 
E)  product strategy 
A)  product idea 
B)  product concept 
C)  screened product 
D)  test market 
E)  product strategy

Question 9

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

Accepted Answer

A)  growth 
B)  decline 
C)  maturity 
D)  phase-in 
E)  adoption 
A)  growth 
B)  decline 
C)  maturity 
D)  phase-in 
E)  adoption

Question 10

Which of the following costs is most likely associated with the commercialization stage of new-product development?

Accepted Answer

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

Question 11

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

Accepted Answer

A)  line extension and brand management 
B)  internal development and brand management 
C)  new-product development and acquisition 
D)  service development and product extension 
E)  market mix modification and research and development 
A)  line extension and brand management 
B)  internal development and brand management 
C)  new-product development and acquisition 
D)  service development and product extension 
E)  market mix modification and research and development

Question 12

To avoid too few new-product ideas and the failure of many good ideas,management should install an innovation management system that collects,reviews,evaluates,and manages new-product ideas.

Accepted Answer

A) True 
 B)False

Question 13

________ 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.

Accepted Answer

A)  Team-based product development 
B)  Simultaneous product development 
C)  Sequential product development 
D)  Product life-cycle analysis 
E)  Micromarketing 
A)  Team-based product development 
B)  Simultaneous product development 
C)  Sequential product development 
D)  Product life-cycle analysis 
E)  Micromarketing

Question 14

Define commercialization.Explain two important decisions the company must make during this stage.

Accepted Answer

Introducing a new product into the marke

Question 15

A company getting ready to launch a new product must make several decisions.The company must first decide on ________.

Accepted Answer

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 distribution 
D)  when to time the new product introduction 
E)  when to develop a planned market rollout 
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 distribution 
D)  when to time the new product introduction 
E)  when to develop a planned market rollout

Question 16

Company A introduces a new product ABC and Company B rushes to market its own product XYZ,which eclipses product ABC in terms of sales.Company B was able to enter the ________ stage of the new-product development process before Company A could.

Accepted Answer

A)  commercialization 
B)  business analysis 
C)  idea generation 
D)  screening 
E)  product concept development 
A)  commercialization 
B)  business analysis 
C)  idea generation 
D)  screening 
E)  product concept development

Question 17

Asian Unick's initial test marketing results look promising.In considering launching its new online service,it must first decide on ________.

Accepted Answer

A)  timing 
B)  employee schedules 
C)  identifying suitable new employees 
D)  local and state regulations 
E)  menu offerings 
A)  timing 
B)  employee schedules 
C)  identifying suitable new employees 
D)  local and state regulations 
E)  menu offerings

Question 18

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

Accepted Answer

A)  growth 
B)  product development 
C)  maturity 
D)  introduction 
E)  adoption 
A)  growth 
B)  product development 
C)  maturity 
D)  introduction 
E)  adoption

Question 19

What is R-W-W ("real,win,worth doing")?

Accepted Answer

It is a new product screening framework

Question 20

Refer to the scenario below to answer the following questions.
Most people laughed when Evelyn Wong explained her product idea-a solar-powered vacuum cleaner. But the concept was practical and the technology used in the vacuum was the same as that used in many children's toys. After setting up a demonstration booth in a shopping center in Hong Kong, Evelyn felt more assured than ever that her idea would be a hit. Consumers seemed receptive and offered helpful pieces of advice, such as how much they would pay for the vacuum, what colors they would prefer, and why they would not buy the vacuum.
The vacuum itself was dome-shaped, something like a small saucer, with a filter bag on top and sensory nodes along the edges. After being charged in the sunlight, the vacuum could run for 10 hours, covering a floor area of 600 square feet. As the apparatus lightly bumped into table legs, chairs, and so on, the sensory nodes allowed the vacuum to move around the objects in various directions. This is the same type of technology used in the manufacture of children's race cars and walking dolls.
Evelyn knew that the solar-powered vacuum would be especially helpful to both elderly consumers, who may have a more difficult time with vacuuming, and on-the-go consumers who lead busy lives. The price would be above average but would likely reduce after Evelyn recouped some of her costs.
After a 500-unit production run and a substantial financial investment, Evelyn set up a multiple-city test market-in a Hong Kong shopping center and in an appliance store in Shenzhen. "It's such a novel idea," Evelyn added. "People will notice it, even if they don't buy it right away."
-Evelyn's vacuum is at the ________ stage of the product life cycle.

Accepted Answer

A)  product development 
B)  introduction 
C)  growth 
D)  adoption 
E)  incubation 
A)  product development 
B)  introduction 
C)  growth 
D)  adoption 
E)  incubation

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

All of the following are accurate descriptions of a style EXCEPT which one?

Each product will have a life cycle,although its exact shape and length is not known in advance.Briefly explain each step in the PLC.

A company launching a new product into the market must first decide on introduction timing.

The innovation management system approach yields two favorable outcomes: it helps create an innovation-oriented company culture,and it ________.

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

At Candy Empire,a large regional chain of candy stores,employees from marketing,design,production,and finance work in a cross-functional group to save time and money in the new-product development process.Candy Empire uses a(n)________ approach.

An attractive idea must be developed into a ________.

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

Which of the following costs is most likely associated with the commercialization stage of new-product development?

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

To avoid too few new-product ideas and the failure of many good ideas,management should install an innovation management system that collects,reviews,evaluates,and manages new-product ideas.

________ 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.

Define commercialization.Explain two important decisions the company must make during this stage.

A company getting ready to launch a new product must make several decisions.The company must first decide on ________.

Company A introduces a new product ABC and Company B rushes to market its own product XYZ,which eclipses product ABC in terms of sales.Company B was able to enter the ________ stage of the new-product development process before Company A could.

Asian Unick's initial test marketing results look promising.In considering launching its new online service,it must first decide on ________.

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

What is R-W-W ("real,win,worth doing")?

Marketing: Managing Profitable Customer Relationships

Company and Marketing Strategy: Partnering to Build

The Marketing Environment

Managing Marketing Information

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 Products: Understanding and Capturing Customer Value

Pricing Products: Pricing Strategies

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing

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

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

All of the following are accurate descriptions of a style EXCEPT which one?

Each product will have a life cycle,although its exact shape and length is not known in advance.Briefly explain each step in the PLC.

A company launching a new product into the market must first decide on introduction timing.

The innovation management system approach yields two favorable outcomes: it helps create an innovation-oriented company culture,and it ________.

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

At Candy Empire,a large regional chain of candy stores,employees from marketing,design,production,and finance work in a cross-functional group to save time and money in the new-product development process.Candy Empire uses a(n)________ approach.

An attractive idea must be developed into a ________.

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

Which of the following costs is most likely associated with the commercialization stage of new-product development?

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

To avoid too few new-product ideas and the failure of many good ideas,management should install an innovation management system that collects,reviews,evaluates,and manages new-product ideas.

________ 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.

Define commercialization.Explain two important decisions the company must make during this stage.

A company getting ready to launch a new product must make several decisions.The company must first decide on ________.

Company A introduces a new product ABC and Company B rushes to market its own product XYZ,which eclipses product ABC in terms of sales.Company B was able to enter the ________ stage of the new-product development process before Company A could.

Asian Unick's initial test marketing results look promising.In considering launching its new online service,it must first decide on ________.

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

What is R-W-W ("real,win,worth doing")?

Marketing: Managing Profitable Customer Relationships

Company and Marketing Strategy: Partnering to Build

The Marketing Environment

Managing Marketing Information

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 Products: Understanding and Capturing Customer Value

Pricing Products: Pricing Strategies

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing

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