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

Marketers can prolong the lives of many products in the maturity or decline stages of the PLC,sometimes even moving these products back into the growth stage.How can this happen?

Which stage in the PLC is characterized by rapid market acceptance and increasing sales?

New-product development begins with a systematic search for new product ideas through idea generation.

Your firm asks you to consult external sources for new-product ideas.All of the following are common external sources EXCEPT ________.

MobileTones,a new company selling several lines of mobile 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 MobileTones the most?

Apple's iPod has been called "one of the greatest consumer electronics hits of all time." More than 120 million iPods have been sold.This success has attracted many large,resourceful competitors.The iPod is in the ________ stage of the product life cycle.

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

Why might a company choose to develop a planned market rollout?

The search for new-product ideas should be ________ rather than haphazard.

The third part of the marketing strategy statement includes all of the following EXCEPT ________.

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

Which of the following is NOT a recommended method for companies to tap into their customers as sources for new-product ideas?

Which of the following is most likely to be included in an executive's write up of a new-product idea to be presented to a new-product committee?

Using the PLC concept to develop marketing strategy can be problematic because strategy is both a cause and a result of the product's life cycle.

Managers are correct in believing that the purpose of idea generation is to create a few ideas and the purpose of succeeding stages is to increase that number.

The PLC can be applied to more than just brands.Your assignment is to prepare a presentation about the application of the PLC to as many of your company's operations as possible.What would you include? What wouldn't you include?

Your firm added three new products earlier this year to increase variety for customers.Two of them failed to reach even minimal sales.Which of the following is LEAST likely to have been the cause of their failure?

Why might individual departments prefer sequential product development?

It's What's Hip,a chain of 18 music and CD stores,has discovered that carrying a weak product during the decline stage of the PLC can be very costly to a firm,and not just in profit terms.Which one of these is NOT likely to be one of those costs?

Joann Fabrics Pte Ltd has just created a new combination of colors and fabric types.The firm wants to be sure of the way consumers think about its new product.The firm is concerned with the product ________.