Question 1

Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits?

Accepted Answer

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

Question 2

Sequential product development has the advantage of not only being a team-oriented approach, but also of being faster in bringing products to market.

Accepted Answer

A) True 
 B)False  False

Question 3

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.

Accepted Answer

A) True 
 B)False  True

Question 4

The more formal "business attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s and 2010s. This is an example of a ________.

Accepted Answer

A)  style 
B)  fashion 
C)  fad 
D)  subculture 
E)  norm 
A)  style 
B)  fashion 
C)  fad 
D)  subculture 
E)  norm

Question 5

________ 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)  Horizontal integration 
E)  Vertical integration 
A)  Team-based product development 
B)  Simultaneous product development 
C)  Sequential product development 
D)  Horizontal integration 
E)  Vertical integration

Question 6

Which of the following is the most likely circumstance for a company to decide to do little or no test marketing?

Accepted Answer

A)  when the new product requires a major investment 
B)  when management lacks confidence in the new product 
C)  when management lacks confidence in the marketing strategy 
D)  when the product has no substitutes and is new in its category 
E)  when the costs of developing and introducing the product are low 
A)  when the new product requires a major investment 
B)  when management lacks confidence in the new product 
C)  when management lacks confidence in the marketing strategy 
D)  when the product has no substitutes and is new in its category 
E)  when the costs of developing and introducing the product are low

Question 7

New product development starts with ________.

Accepted Answer

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

Question 8

Sales of products decline because of technological advances, shifts in consumer tastes, and increased competition.

Accepted Answer

A) True 
 B)False

Question 9

Refer to the scenario below to answer the following question(s).
Most people laughed when Evelyn Ringler 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 electronic toys. After setting up a demonstration booth in a mall in a Chicago suburb, 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 shaped 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 7 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 racecars 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 be reduced 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 Chicago mall and in an appliance store in New Jersey and several other retail stores in Florida. "It's such a novel idea," Evelyn added. "People will notice it, even if they don't buy it right away."
-Evelyn's ________ is the practical use of solar power in a vacuum cleaner that is designed to effortlessly vacuum clean the floors of on-the-go and elderly consumers.

Accepted Answer

A)  product placement 
B)  product concept 
C)  product image 
D)  product idea 
E)  virtual product 
A)  product placement 
B)  product concept 
C)  product image 
D)  product idea 
E)  virtual product

Question 10

Briefly describe the steps in the new product development process.

Accepted Answer

New product development starts with idea

Question 11

For concept test, companies will frequently present customers with ________ of the concept for a reliable concept test.

Accepted Answer

A)  a verbal description 
B)  a PowerPoint slide 
C)  a picture 
D)  a physical presentation 
E)  a printed paragraph 
A)  a verbal description 
B)  a PowerPoint slide 
C)  a picture 
D)  a physical presentation 
E)  a printed paragraph

Question 12

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

Accepted Answer

A)  repositioning 
B)  harvesting 
C)  maintaining 
D)  pruning 
E)  expanding 
A)  repositioning 
B)  harvesting 
C)  maintaining 
D)  pruning 
E)  expanding

Question 13

According to the PLC, the ________ stage is reached when sales plunge to zero, or when they drop to a low level where they continue for many years.

Accepted Answer

A)  laggard 
B)  decline 
C)  maturity 
D)  growth 
E)  incubation 
A)  laggard 
B)  decline 
C)  maturity 
D)  growth 
E)  incubation

Question 14

Which of the following involves costs that most likely occur during the commercialization stage of new product development?

Accepted Answer

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

Question 15

Which of the following is a significant challenge presented by the product life cycle?

Accepted Answer

A)  increased expenses 
B)  increased competition 
C)  new product development 
D)  evaluation of results 
E)  recognizing the stages as a product goes through them 
A)  increased expenses 
B)  increased competition 
C)  new product development 
D)  evaluation of results 
E)  recognizing the stages as a product goes through them

Question 16

Which of the following best characterizes the decline stage of product development?

Accepted Answer

A)  rapid market acceptance 
B)  slow sales growth 
C)  sales and profits decline 
D)  high investment costs 
E)  increasing profits 
A)  rapid market acceptance 
B)  slow sales growth 
C)  sales and profits decline 
D)  high investment costs 
E)  increasing profits

Question 17

Which of the following statements is true of the new product development process?

Accepted Answer

A)  The purpose of the idea screening stage is to create a large number of ideas. 
B)  Under the business analysis stage, if the new product satisfies the company's objectives, the product then moves to the product development stage. 
C)  A product concept is the way consumers perceive an actual or potential product. 
D)  The concept testing stage is the stage at which the product and its proposed marketing program are introduced into realistic market settings. 
E)  Commercialization is the process of inviting broad communities of people such as customers, employees, and scientists into the new product innovation process. 
A)  The purpose of the idea screening stage is to create a large number of ideas. 
B)  Under the business analysis stage, if the new product satisfies the company's objectives, the product then moves to the product development stage. 
C)  A product concept is the way consumers perceive an actual or potential product. 
D)  The concept testing stage is the stage at which the product and its proposed marketing program are introduced into realistic market settings. 
E)  Commercialization is the process of inviting broad communities of people such as customers, employees, and scientists into the new product innovation process.

Question 18

What factors are assessed in test marketing?

Accepted Answer

Test marketing lets a company

Question 19

Which figures does the company use to analyze the new product's financial attractiveness?

Accepted Answer

A)  size of population 
B)  expected market share 
C)  number of competitors 
D)  anticipated number of options 
E)  sales and costs 
A)  size of population 
B)  expected market share 
C)  number of competitors 
D)  anticipated number of options 
E)  sales and costs

Question 20

Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must ________.

Accepted Answer

A)  conduct surveys of competitors 
B)  exclusively consider the government's opinions 
C)  consider the sales history of similar products 
D)  apply the PLC concept to industry sales 
E)  opt for business process reengineering 
A)  conduct surveys of competitors 
B)  exclusively consider the government's opinions 
C)  consider the sales history of similar products 
D)  apply the PLC concept to industry sales 
E)  opt for business process reengineering

Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits?

Sequential product development has the advantage of not only being a team-oriented approach, but also of being faster in bringing products to market.

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.

The more formal "business attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s and 2010s. This is an example of a ________.

________ 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.

Which of the following is the most likely circumstance for a company to decide to do little or no test marketing?

New product development starts with ________.

Sales of products decline because of technological advances, shifts in consumer tastes, and increased competition.

Briefly describe the steps in the new product development process.

For concept test, companies will frequently present customers with ________ of the concept for a reliable concept test.

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

According to the PLC, the ________ stage is reached when sales plunge to zero, or when they drop to a low level where they continue for many years.

Which of the following involves costs that most likely occur during the commercialization stage of new product development?

Which of the following is a significant challenge presented by the product life cycle?

Which of the following best characterizes the decline stage of product development?

Which of the following statements is true of the new product development process?

What factors are assessed in test marketing?

Which figures does the company use to analyze the new product's financial attractiveness?

Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must ________.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 9: Developing New Products and Managing the Product Life Cycle

Which stage in the product life cycle is characterized by rapid market acceptance and increasing profits?

Sequential product development has the advantage of not only being a team-oriented approach, but also of being faster in bringing products to market.

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.

The more formal "business attire" look of corporate dress of the 1980s and 1990s gave way to the "business casual" look of the 2000s and 2010s. This is an example of a ________.

________ 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.

Which of the following is the most likely circumstance for a company to decide to do little or no test marketing?

New product development starts with ________.

Sales of products decline because of technological advances, shifts in consumer tastes, and increased competition.

Briefly describe the steps in the new product development process.

For concept test, companies will frequently present customers with ________ of the concept for a reliable concept test.

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

According to the PLC, the ________ stage is reached when sales plunge to zero, or when they drop to a low level where they continue for many years.

Which of the following involves costs that most likely occur during the commercialization stage of new product development?

Which of the following is a significant challenge presented by the product life cycle?

Which of the following best characterizes the decline stage of product development?

Which of the following statements is true of the new product development process?

What factors are assessed in test marketing?

Which figures does the company use to analyze the new product's financial attractiveness?

Neutron Inc. is conducting a business analysis to determine which of the many newly developed apps should be released. To estimate sales, the company must ________.

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters