Question 1

All of the following are characteristics of the maturity stage of the product life cycle EXCEPT which one?

Accepted Answer

A)  a decline in the sales curve 
B)  simplification of product lines 
C)  increased distribution 
D)  increased price competition 
A)  a decline in the sales curve 
B)  simplification of product lines 
C)  increased distribution 
D)  increased price competition C

Question 2

Which product life cycle stage involves low consumer awareness and acceptance of the product, few competitors, and a gradual rise in sales because of promotion?

Accepted Answer

A)  extension 
B)  introduction 
C)  growth 
D)  maturity 
A)  extension 
B)  introduction 
C)  growth 
D)  maturity B

Question 3

As a result of extensive market research, a consumer products manufacturer introduces a line of hypoallergenic, fragrance-free, and dye-free laundry products for customers with allergies and skin sensitivities. Which of the following best summarizes the reason for the company's product mix change?

Accepted Answer

A)  challenges from competitors 
B)  changes in customer preferences 
C)  stage of the product life cycle 
D)  more effective brand management 
A)  challenges from competitors 
B)  changes in customer preferences 
C)  stage of the product life cycle 
D)  more effective brand management B

Question 4

TCBY wants to expand its line of food products. If the company sends surveys to consumers to determine which food items would appeal to them for desserts or snacks, which phase of new product development does this represent?

Accepted Answer

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

Question 5

Why do sales and profits decline during the last stage of the product life cycle?

Accepted Answer

A)  consumers' needs change and the product is no longer desirable 
B)  competitors have entered the market 
C)  consumers are unaware of the product 
D)  there has been a recall on the product and consumers are afraid to purchase it 
A)  consumers' needs change and the product is no longer desirable 
B)  competitors have entered the market 
C)  consumers are unaware of the product 
D)  there has been a recall on the product and consumers are afraid to purchase it

Question 6

Which of the following is generally NOT considered to be a stage in the product life cycle?

Accepted Answer

A)  introduction 
B)  growth 
C)  transition 
D)  decline 
A)  introduction 
B)  growth 
C)  transition 
D)  decline

Question 7

In which stage in the development of new products are ideas that match company objectives analyzed as to whether the firm has the required expertise for the product's development and marketing?

Accepted Answer

A)  exploration 
B)  product analysis 
C)  product development 
D)  business analysis 
A)  exploration 
B)  product analysis 
C)  product development 
D)  business analysis

Question 8

What is the first stage of the product life cycle?

Accepted Answer

A)  invention 
B)  launching 
C)  discovery 
D)  introduction 
A)  invention 
B)  launching 
C)  discovery 
D)  introduction

Question 9

Health Canada requires that food packaging contains product ingredients, sell-by dates, the manufacturer's address, contact information, and any cautionary messages or usage warnings. Which function of packaging does this represent?

Accepted Answer

A)  providing product information 
B)  protecting the product 
C)  better serving customer needs 
D)  attracting buyer attention 
A)  providing product information 
B)  protecting the product 
C)  better serving customer needs 
D)  attracting buyer attention

Question 10

Gillette Company's blades are in the maturity stage of the product life cycle. How can the company strengthen its market share?

Accepted Answer

A)  eliminate less profitable versions of the product 
B)  redesign the packaging 
C)  emphasize customer service 
D)  watch for the early buying patterns 
A)  eliminate less profitable versions of the product 
B)  redesign the packaging 
C)  emphasize customer service 
D)  watch for the early buying patterns

Question 11

KFC, famous for fried chicken, introduced grilled chicken in 2008 in an effort to offer healthier menu options. This product mix change can be attributed to which of the following?

Accepted Answer

A)  more effective brand management 
B)  the stage of the product life cycle 
C)  challenges from competitors 
D)  changes in customer preferences 
A)  more effective brand management 
B)  the stage of the product life cycle 
C)  challenges from competitors 
D)  changes in customer preferences

Question 12

Gina goes to the spa and gets a deep tissue massage. The massage would be categorized as which of the following?

Accepted Answer

A)  a good 
B)  a service 
C)  a good and a service 
D)  neither a good nor a service 
A)  a good 
B)  a service 
C)  a good and a service 
D)  neither a good nor a service

Question 13

Procter & Gamble manufactures hair care products such as Pantene, toothpaste and oral health products such as Crest, batteries, Cover Girl cosmetics, laundry and dish detergent, paper products like Bounty and Puffs, and a host of other products. What does the collection of all these products represent for Procter & Gamble?

Accepted Answer

A)  product line 
B)  product mix 
C)  marketing mix 
D)  marketing strategy 
A)  product line 
B)  product mix 
C)  marketing mix 
D)  marketing strategy

Question 14

Federal regulations require manufacturers to post a "use-by" date on all packages of infant formula. Which function of packaging does this illustrate?

Accepted Answer

A)  protecting the product 
B)  attracting buyer attention 
C)  better serving customer needs 
D)  providing product information 
A)  protecting the product 
B)  attracting buyer attention 
C)  better serving customer needs 
D)  providing product information

Question 15

During the product analysis stage of product development, all of the following occur EXCEPT which one?

Accepted Answer

A)  presenting idea to potential customers for feedback 
B)  creating estimates of possible costs 
C)  developing a prototype 
D)  creating estimates of possible profits associated with launching the new product 
A)  presenting idea to potential customers for feedback 
B)  creating estimates of possible costs 
C)  developing a prototype 
D)  creating estimates of possible profits associated with launching the new product

Question 16

Which product life cycle stage involves a rapid sales increase, competing products marketed by other companies, lower unit costs, and an overall tendency toward increased profit?

Accepted Answer

A)  growth 
B)  extension 
C)  introduction 
D)  maturity 
A)  growth 
B)  extension 
C)  introduction 
D)  maturity

Question 17

Which of the following was Pepsi doing when it introduced Mountain Dew Code Red?

Accepted Answer

A)  expanding its marketing mix 
B)  increasing the product line 
C)  simplifying its product mix 
D)  refining its marketing mix 
A)  expanding its marketing mix 
B)  increasing the product line 
C)  simplifying its product mix 
D)  refining its marketing mix

Question 18

Why should companies develop and introduce new products?

Accepted Answer

A)  because failing to do so can threaten the future success of the company 
B)  because it is relatively inexpensive and therefore worth the time 
C)  to replace deleted products, so the broadness of the marketing mix remains unchanged 
D)  because new products are almost always successful 
A)  because failing to do so can threaten the future success of the company 
B)  because it is relatively inexpensive and therefore worth the time 
C)  to replace deleted products, so the broadness of the marketing mix remains unchanged 
D)  because new products are almost always successful

Question 19

Before a fast food restaurant introduces its new veggie burger in its restaurants nationwide, it decides to launch the product on a smaller scale to evaluate customer response. Which product development phase does this represent?

Accepted Answer

A)  product development and testing 
B)  commercialization 
C)  product analysis 
D)  screening 
A)  product development and testing 
B)  commercialization 
C)  product analysis 
D)  screening

Question 20

A snack food manufacturer has introduced a gluten-free version of its popular toaster pastry, the first of its kind on the market. Which of the following is likely the reason the company changed its product mix?

Accepted Answer

A)  changing consumer preferences 
B)  to streamline manufacturing processes 
C)  simplification of its product mix 
D)  budgetary concerns 
A)  changing consumer preferences 
B)  to streamline manufacturing processes 
C)  simplification of its product mix 
D)  budgetary concerns

All of the following are characteristics of the maturity stage of the product life cycle EXCEPT which one?

Which product life cycle stage involves low consumer awareness and acceptance of the product, few competitors, and a gradual rise in sales because of promotion?

As a result of extensive market research, a consumer products manufacturer introduces a line of hypoallergenic, fragrance-free, and dye-free laundry products for customers with allergies and skin sensitivities. Which of the following best summarizes the reason for the company's product mix change?

TCBY wants to expand its line of food products. If the company sends surveys to consumers to determine which food items would appeal to them for desserts or snacks, which phase of new product development does this represent?

Why do sales and profits decline during the last stage of the product life cycle?

Which of the following is generally NOT considered to be a stage in the product life cycle?

In which stage in the development of new products are ideas that match company objectives analyzed as to whether the firm has the required expertise for the product's development and marketing?

What is the first stage of the product life cycle?

Health Canada requires that food packaging contains product ingredients, sell-by dates, the manufacturer's address, contact information, and any cautionary messages or usage warnings. Which function of packaging does this represent?

Gillette Company's blades are in the maturity stage of the product life cycle. How can the company strengthen its market share?

KFC, famous for fried chicken, introduced grilled chicken in 2008 in an effort to offer healthier menu options. This product mix change can be attributed to which of the following?

Gina goes to the spa and gets a deep tissue massage. The massage would be categorized as which of the following?

Federal regulations require manufacturers to post a "use-by" date on all packages of infant formula. Which function of packaging does this illustrate?

During the product analysis stage of product development, all of the following occur EXCEPT which one?

Which product life cycle stage involves a rapid sales increase, competing products marketed by other companies, lower unit costs, and an overall tendency toward increased profit?

Which of the following was Pepsi doing when it introduced Mountain Dew Code Red?

Why should companies develop and introduce new products?

Before a fast food restaurant introduces its new veggie burger in its restaurants nationwide, it decides to launch the product on a smaller scale to evaluate customer response. Which product development phase does this represent?

A snack food manufacturer has introduced a gluten-free version of its popular toaster pastry, the first of its kind on the market. Which of the following is likely the reason the company changed its product mix?

Exploring the World of Business and Economics

Being Ethical and Socially Responsible

Exploring Global Business

Choosing a Form of Business Ownership

Considering Small Business Entrepreneurship and Franchises

Understanding the Management Process

Creating a Flexible Organization

Producing Quality Goods and Services

Attracting and Retaining the Best Employees

Motivating Employees and Teams

Enhancing Employee Management Relations

Building Customer Relationships Through Effective Marketing

Managing Distribution and Pricing

Developing Integrated Marketing Communications

Exploring Business Technology

Using Accounting and Financial Information

Understanding Money Banking and Credit

Recognizing the Basics of Financial Management

Understanding Personal Finance and Investments

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Exam 13: Developing and Managing Products

All of the following are characteristics of the maturity stage of the product life cycle EXCEPT which one?

Which product life cycle stage involves low consumer awareness and acceptance of the product, few competitors, and a gradual rise in sales because of promotion?

As a result of extensive market research, a consumer products manufacturer introduces a line of hypoallergenic, fragrance-free, and dye-free laundry products for customers with allergies and skin sensitivities. Which of the following best summarizes the reason for the company's product mix change?

TCBY wants to expand its line of food products. If the company sends surveys to consumers to determine which food items would appeal to them for desserts or snacks, which phase of new product development does this represent?

Why do sales and profits decline during the last stage of the product life cycle?

Which of the following is generally NOT considered to be a stage in the product life cycle?

In which stage in the development of new products are ideas that match company objectives analyzed as to whether the firm has the required expertise for the product's development and marketing?

What is the first stage of the product life cycle?

Health Canada requires that food packaging contains product ingredients, sell-by dates, the manufacturer's address, contact information, and any cautionary messages or usage warnings. Which function of packaging does this represent?

Gillette Company's blades are in the maturity stage of the product life cycle. How can the company strengthen its market share?

KFC, famous for fried chicken, introduced grilled chicken in 2008 in an effort to offer healthier menu options. This product mix change can be attributed to which of the following?

Gina goes to the spa and gets a deep tissue massage. The massage would be categorized as which of the following?

Federal regulations require manufacturers to post a "use-by" date on all packages of infant formula. Which function of packaging does this illustrate?

During the product analysis stage of product development, all of the following occur EXCEPT which one?

Which product life cycle stage involves a rapid sales increase, competing products marketed by other companies, lower unit costs, and an overall tendency toward increased profit?

Which of the following was Pepsi doing when it introduced Mountain Dew Code Red?

Why should companies develop and introduce new products?

Before a fast food restaurant introduces its new veggie burger in its restaurants nationwide, it decides to launch the product on a smaller scale to evaluate customer response. Which product development phase does this represent?

A snack food manufacturer has introduced a gluten-free version of its popular toaster pastry, the first of its kind on the market. Which of the following is likely the reason the company changed its product mix?

Exploring the World of Business and Economics

Being Ethical and Socially Responsible

Exploring Global Business

Choosing a Form of Business Ownership

Considering Small Business Entrepreneurship and Franchises

Understanding the Management Process

Creating a Flexible Organization

Producing Quality Goods and Services

Attracting and Retaining the Best Employees

Motivating Employees and Teams

Enhancing Employee Management Relations

Building Customer Relationships Through Effective Marketing

Managing Distribution and Pricing

Developing Integrated Marketing Communications

Exploring Business Technology

Using Accounting and Financial Information

Understanding Money Banking and Credit

Recognizing the Basics of Financial Management

Understanding Personal Finance and Investments

Filters