Exam 13: Developing and Managing Products

Grouping product offerings into product lines provides manufacturers with which three primary benefits?

What is the term used to describe products that are designed to be similar to and compete with existing products of other firms?

Walmart uses radio frequency identification (RFID) chips to quickly update inventory. The addition of RFID chips eliminated the need for an employee to scan each individual product by hand. What makes this innovation a benefit?

What is the term for everything that one receives in an exchange, including all tangible and intangible attributes and expected benefits?

All of the following are stages in the development of new products EXCEPT which one?

Tony installs a new furnace in a customer's home. The installation of the furnace would be categorized as which of the following?

Gerber produces baby formula, cereals, beverages, yogurt snacks, toddler meals, and side dishes. What does this collection of products comprise for Gerber?

In a meeting to generate new products, the advisory committee felt that it had come up with some excellent ideas. Now that there is a list of product ideas, what is the next step?

Which product life cycle stage involves a decrease in the rate of sales growth, a decline in the sales curve, and dealers simplifying their product lines?

During which stage in the evolution of new products is the product launched into full-scale manufacturing and marketing?

As the product idea committee of Foster Manufacturing Company went through its list of possible new products, it rejected various ideas for one or more reasons. Which of the following is LEAST likely to be a reason for rejection?

Flip phones would likely be characterized as being in which stage of the product life cycle?

Product ideas are transformed into prototypes during which stage of the product development process?

When a product experiences growth in sales revenue and profits, reaches a peak, and then declines, it goes through which of the following?

The marketing challenge of making potential customers aware of the product's existence and is features, benefits, and uses is prevalent in which of the product life cycle stages?

A popular cookie brand finds itself in the maturity stage of the product life cycle. Which of the following would be the best marketing strategy for the cookie brand?

Libby has two dogs that just dug a hole in her yard. They are muddy, and Libby does not want to bring them in the house to bathe them. She calls Groomers on the Go, a mobile pet groomer. They will drive to a customer's house and bathe and groom their dogs or cats in a customized mobile home. Groomers on the Go provides value to Libby because it is which of the following?

When Nabisco realized that its Ritz cracker brand was experiencing stagnant sales and profits, it began to offer serving suggestions and recipes featuring the cracker on its packaging. This marketing mix change is in response to which of the following?

Make Me Up Cosmetics has Transport Canada-approved makeup, fragrances, and bath products so that customers can travel worry-free and look good on the go. Which function of packaging does this best illustrate?

Which of the following describes an entirely new product?