Question 1

Manufacturers must comply with specific laws regarding ________.

Accepted Answer

A)  profit margins 
B)  product quality and safety 
C)  product harvesting 
D)  distribution channel length 
E)  product life cycles 
A)  profit margins 
B)  product quality and safety 
C)  product harvesting 
D)  distribution channel length 
E)  product life cycles

Question 2

Once managers of The Grecian Urn have decided on their product concept and marketing strategy,they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process.

Accepted Answer

A)  business feasibility 
B)  feasibility study 
C)  business analysis 
D)  product acceptance 
E)  concept testing 
A)  business feasibility 
B)  feasibility study 
C)  business analysis 
D)  product acceptance 
E)  concept testing

Question 3

The advantages of standardizing an international product include all of the following EXCEPT ________.

Accepted Answer

A)  the development of a consistent image 
B)  lower product design costs 
C)  the adaptation of products to different markets 
D)  decreased manufacturing costs 
E)  lower marketing costs 
A)  the development of a consistent image 
B)  lower product design costs 
C)  the adaptation of products to different markets 
D)  decreased manufacturing costs 
E)  lower marketing costs

Question 4

A company decides to sell off a number of lesser or declining brands.The management decided to ________ the products.

Accepted Answer

A)  further test 
B)  maintain 
C)  drop 
D)  harvest 
E)  ignore the test market results of 
A)  further test 
B)  maintain 
C)  drop 
D)  harvest 
E)  ignore the test market results of

Question 5

When sales of a product falter during the PLC,a company can take several approaches.The more common ones are to modify the marketing mix,modify the product,or modify the market.

Accepted Answer

A) True 
 B)False

Question 6

As an alternative to extensive and costly _______________ ,companies can use controlled test markets or simulated test markets.

Accepted Answer

A)  business analysis 
B)  standard test markets 
C)  prototype development 
D)  idea generation 
E)  research and development 
A)  business analysis 
B)  standard test markets 
C)  prototype development 
D)  idea generation 
E)  research and development

Question 7

Which type of new-product development process focuses on finding new ways to solve customer problems and create more customer-satisfying experiences?

Accepted Answer

A)  concept testing 
B)  new-product development 
C)  customer-centered new-product development 
D)  sequential product development 
E)  team-based new-product development 
A)  concept testing 
B)  new-product development 
C)  customer-centered new-product development 
D)  sequential product development 
E)  team-based new-product development

Question 8

Many marketers are now using new interactive technologies such as P&G's online virtual convenience store,to reduce the cost of ________.

Accepted Answer

A)  concept development 
B)  concept testing 
C)  commercialization 
D)  product development 
E)  test marketing 
A)  concept development 
B)  concept testing 
C)  commercialization 
D)  product development 
E)  test marketing

Question 9

In the ________ stage of new-product development,products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.

Accepted Answer

A)  business analysis 
B)  idea generation 
C)  concept development and testing 
D)  product development 
E)  marketing mix 
A)  business analysis 
B)  idea generation 
C)  concept development and testing 
D)  product development 
E)  marketing mix

Question 10

A firm can obtain new products in two ways: acquisition or new-product development.

Accepted Answer

A) True 
 B)False

Question 11

For some ________,a simple description consisting of a word or picture might be sufficient.

Accepted Answer

A)  concept tests 
B)  test markets 
C)  marketing strategies 
D)  product developments 
E)  business analyses 
A)  concept tests 
B)  test markets 
C)  marketing strategies 
D)  product developments 
E)  business analyses

Question 12

Once the product or service passes the business analysis test,it moves into what stage?

Accepted Answer

A)  concept development 
B)  product development 
C)  market testing 
D)  strategy development 
E)  product proposal 
A)  concept development 
B)  product development 
C)  market testing 
D)  strategy development 
E)  product proposal

Question 13

Provide the major sources of external new-product ideas and explain why these sources offer advantages over internal sources.

Accepted Answer

The major sources of new-product ideas f

Question 14

Asian Net Communications is concerned about test marketing its new device.Which of the following is NOT a disadvantage of test marketing that would likely concern Asian Net Communications?

Accepted Answer

A)  Test marketing costs can be high. 
B)  It can take a lot of time to test market. 
C)  Test marketing allows time for competitors to spy and gain advantages. 
D)  People who are surveyed tend to tell less than the truth. 
E)  Test marketing does not guarantee success. 
A)  Test marketing costs can be high. 
B)  It can take a lot of time to test market. 
C)  Test marketing allows time for competitors to spy and gain advantages. 
D)  People who are surveyed tend to tell less than the truth. 
E)  Test marketing does not guarantee success.

Question 15

Which of the following is NOT a potential reason for a new product to fail?

Accepted Answer

A)  an underestimated market size 
B)  a poorly designed product 
C)  an incorrectly positioned product 
D)  higher than anticipated costs of product development 
E)  ineffective advertising 
A)  an underestimated market size 
B)  a poorly designed product 
C)  an incorrectly positioned product 
D)  higher than anticipated costs of product development 
E)  ineffective advertising

Question 16

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is NOT a challenge presented by the product life cycle that a firm must face?

Accepted Answer

A)  All products eventually decline. 
B)  Changing tastes, technologies, and competition affect the marketing of the product as it passes through life-cycle stages. 
C)  A firm must be good at developing new products to replace aging ones. 
D)  A firm must be good at adapting its marketing strategies. 
E)  It is difficult to plot the stages as a product goes through them. 
A)  All products eventually decline. 
B)  Changing tastes, technologies, and competition affect the marketing of the product as it passes through life-cycle stages. 
C)  A firm must be good at developing new products to replace aging ones. 
D)  A firm must be good at adapting its marketing strategies. 
E)  It is difficult to plot the stages as a product goes through them.

Question 18

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."
-When Evelyn set up a demonstration booth to learn about consumers' feelings toward her vacuum cleaner,she was doing which of the following?

Accepted Answer

A)  concept testing 
B)  marketing strategy development 
C)  idea screening 
D)  commercializing 
E)  test marketing 
A)  concept testing 
B)  marketing strategy development 
C)  idea screening 
D)  commercializing 
E)  test marketing

Question 19

Which of the following is the most likely reason that employees at your firm regularly attend trade shows and seminars?

Accepted Answer

A)  to analyze the product life cycle 
B)  to test new-product concepts 
C)  to get new-product ideas 
D)  to test market new products 
E)  to implement a team-based new-product development approach 
A)  to analyze the product life cycle 
B)  to test new-product concepts 
C)  to get new-product ideas 
D)  to test market new products 
E)  to implement a team-based new-product development approach

Question 20

At what level(s)of analysis can the product life cycle be applied?

Accepted Answer

The PLC can be applied to new product an

Manufacturers must comply with specific laws regarding ________.

Once managers of The Grecian Urn have decided on their product concept and marketing strategy,they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process.

The advantages of standardizing an international product include all of the following EXCEPT ________.

A company decides to sell off a number of lesser or declining brands.The management decided to ________ the products.

When sales of a product falter during the PLC,a company can take several approaches.The more common ones are to modify the marketing mix,modify the product,or modify the market.

As an alternative to extensive and costly _______________ ,companies can use controlled test markets or simulated test markets.

Which type of new-product development process focuses on finding new ways to solve customer problems and create more customer-satisfying experiences?

Many marketers are now using new interactive technologies such as P&G's online virtual convenience store,to reduce the cost of ________.

In the ________ stage of new-product development,products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.

A firm can obtain new products in two ways: acquisition or new-product development.

For some ________,a simple description consisting of a word or picture might be sufficient.

Once the product or service passes the business analysis test,it moves into what stage?

Provide the major sources of external new-product ideas and explain why these sources offer advantages over internal sources.

Asian Net Communications is concerned about test marketing its new device.Which of the following is NOT a disadvantage of test marketing that would likely concern Asian Net Communications?

Which of the following is NOT a potential reason for a new product to fail?

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

Which of the following is NOT a challenge presented by the product life cycle that a firm must face?

Which of the following is the most likely reason that employees at your firm regularly attend trade shows and seminars?

At what level(s)of analysis can the product life cycle be applied?

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

Manufacturers must comply with specific laws regarding ________.

Once managers of The Grecian Urn have decided on their product concept and marketing strategy,they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process.

The advantages of standardizing an international product include all of the following EXCEPT ________.

A company decides to sell off a number of lesser or declining brands.The management decided to ________ the products.

When sales of a product falter during the PLC,a company can take several approaches.The more common ones are to modify the marketing mix,modify the product,or modify the market.

As an alternative to extensive and costly _______________ ,companies can use controlled test markets or simulated test markets.

Which type of new-product development process focuses on finding new ways to solve customer problems and create more customer-satisfying experiences?

Many marketers are now using new interactive technologies such as P&G's online virtual convenience store,to reduce the cost of ________.

In the ________ stage of new-product development,products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.

A firm can obtain new products in two ways: acquisition or new-product development.

For some ________,a simple description consisting of a word or picture might be sufficient.

Once the product or service passes the business analysis test,it moves into what stage?

Provide the major sources of external new-product ideas and explain why these sources offer advantages over internal sources.

Asian Net Communications is concerned about test marketing its new device.Which of the following is NOT a disadvantage of test marketing that would likely concern Asian Net Communications?

Which of the following is NOT a potential reason for a new product to fail?

Although products that remain in the maturity stage of the PLC seem unchanged,the most successful ones actually evolve to meet changing consumer needs.

Which of the following is NOT a challenge presented by the product life cycle that a firm must face?

Which of the following is the most likely reason that employees at your firm regularly attend trade shows and seminars?

At what level(s)of analysis can the product life cycle be applied?

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