Question 1

Which of the following groups do marketers involve for the process of concept testing new products?

Accepted Answer

A)  suppliers 
B)  employees 
C)  target consumers 
D)  manufacturers 
E)  competitors 
A)  suppliers 
B)  employees 
C)  target consumers 
D)  manufacturers 
E)  competitors

Question 2

Why has the cost of product liability insurance risen so dramatically?

Accepted Answer

Consumers who have been injured by a pro

Question 3

When Kraft focused on cost cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.

Accepted Answer

A)  extend 
B)  modify 
C)  drop 
D)  harvest 
E)  analyze 
A)  extend 
B)  modify 
C)  drop 
D)  harvest 
E)  analyze

Question 4

GreenTree Lawn and Garden Products is engaged in marketing strategy development. The first part of the marketing strategy statement created by management should outline the product's planned price, distribution, and marketing budget for the first year.

Accepted Answer

A) True 
 B)False

Question 5

John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new product development process does this exemplify?

Accepted Answer

A)  idea screening 
B)  idea generation 
C)  concept testing 
D)  product development 
E)  product manufacturing 
A)  idea screening 
B)  idea generation 
C)  concept testing 
D)  product development 
E)  product manufacturing

Question 6

Which of the following is a common reason for new product failure?

Accepted Answer

A)  incorrect estimation of the market size 
B)  low product development costs 
C)  ineffective social marketing campaigns 
D)  low selling prices of products 
E)  patent ownership exclusively held by the company 
A)  incorrect estimation of the market size 
B)  low product development costs 
C)  ineffective social marketing campaigns 
D)  low selling prices of products 
E)  patent ownership exclusively held by the company

Question 7

Which of the following would lead to greater competition in the maturity stage of the PLC?

Accepted Answer

A)  overcapacity 
B)  market pioneers 
C)  poor management 
D)  inadequate promotion 
E)  diminishing budgets 
A)  overcapacity 
B)  market pioneers 
C)  poor management 
D)  inadequate promotion 
E)  diminishing budgets

Question 8

________ is the product life cycle period when sales growth slows because the product has achieved acceptance. Profits level off because marketing costs increase in the face of competition.

Accepted Answer

A)  Decline 
B)  Maturity 
C)  Product development 
D)  Introduction 
E)  Growth 
A)  Decline 
B)  Maturity 
C)  Product development 
D)  Introduction 
E)  Growth

Question 9

Which of the following stages in the new product development would a firm engage in immediately after the completion of concept testing?

Accepted Answer

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

Question 10

All of the following are disadvantages of test marketing EXCEPT that test marketing ________.

Accepted Answer

A)  is typically expensive 
B)  can be time consuming 
C)  enables competitors to gain advantages 
D)  encourages dishonesty among participants 
E)  fails to guarantee product success in the market 
A)  is typically expensive 
B)  can be time consuming 
C)  enables competitors to gain advantages 
D)  encourages dishonesty among participants 
E)  fails to guarantee product success in the market

Question 11

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?

Accepted Answer

A)  retest the product in additional markets 
B)  develop a planned market rollout over time 
C)  liquidate its assets to gain capital and capacity 
D)  seek the help of a nationally known consultant 
E)  develop a prototype 
A)  retest the product in additional markets 
B)  develop a planned market rollout over time 
C)  liquidate its assets to gain capital and capacity 
D)  seek the help of a nationally known consultant 
E)  develop a prototype

Question 12

Which of the following is an internal source for new product ideas?

Accepted Answer

A)  competitors 
B)  company employees 
C)  marketing research firms 
D)  trade magazines 
E)  government agencies 
A)  competitors 
B)  company employees 
C)  marketing research firms 
D)  trade magazines 
E)  government agencies

Question 13

What are the two advantages of an innovation management system for developing new products? Provide four strategies for a company to use to establish a successful system.

Accepted Answer

The first advantage of an innovation man

Question 14

What elements may help to create a product image?

Accepted Answer

A product image is the way consumers per

Question 15

Which of the following is a disadvantage of a team-based approach to new product development?

Accepted Answer

A)  It takes longer for the development of a new product. 
B)  The development effort is not as effective because of employee inexperience. 
C)  It decreases the efficiency of the new product development process. 
D)  It can result in organizational confusion and tension. 
E)  The process does not work with the shorter life cycles of many of today's products. 
A)  It takes longer for the development of a new product. 
B)  The development effort is not as effective because of employee inexperience. 
C)  It decreases the efficiency of the new product development process. 
D)  It can result in organizational confusion and tension. 
E)  The process does not work with the shorter life cycles of many of today's products.

Question 16

The innovation management system approach yields two favorable outcomes: it helps create an innovation-oriented company culture, and it ________.

Accepted Answer

A)  clearly assigns responsibility for the process to a single department 
B)  yields a larger number of new product ideas 
C)  guarantees successful products 
D)  frees up senior management time 
E)  requires less budget support 
A)  clearly assigns responsibility for the process to a single department 
B)  yields a larger number of new product ideas 
C)  guarantees successful products 
D)  frees up senior management time 
E)  requires less budget support

Question 17

Most products in the marketplace are in the ________ stage of the product life cycle.

Accepted Answer

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

Question 18

What causes a specific brand's life cycle to change quickly?

Accepted Answer

A)  costs of raw materials 
B)  changing demographics 
C)  shift in company strategy 
D)  competitive attacks and responses 
E)  new technology 
A)  costs of raw materials 
B)  changing demographics 
C)  shift in company strategy 
D)  competitive attacks and responses 
E)  new technology

Question 19

Which of the following statements characterizes the introduction stage of the PLC?

Accepted Answer

A)  There are increased marketing outlays. 
B)  Profits are nonexistent. 
C)  The company incurs minimal expenses. 
D)  The product achieves acceptance by most potential buyers. 
E)  Promotional expenditures are zero. 
A)  There are increased marketing outlays. 
B)  Profits are nonexistent. 
C)  The company incurs minimal expenses. 
D)  The product achieves acceptance by most potential buyers. 
E)  Promotional expenditures are zero.

Question 20

When a product is in the maturity stage, the company should most likely consider ________.

Accepted Answer

A)  harvesting the product or market 
B)  modifying the product, market, or marketing mix 
C)  divesting the product line 
D)  liquidating the firm's assets 
E)  dropping the product from its market offerings 
A)  harvesting the product or market 
B)  modifying the product, market, or marketing mix 
C)  divesting the product line 
D)  liquidating the firm's assets 
E)  dropping the product from its market offerings

Which of the following groups do marketers involve for the process of concept testing new products?

Why has the cost of product liability insurance risen so dramatically?

When Kraft focused on cost cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.

GreenTree Lawn and Garden Products is engaged in marketing strategy development. The first part of the marketing strategy statement created by management should outline the product's planned price, distribution, and marketing budget for the first year.

John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new product development process does this exemplify?

Which of the following is a common reason for new product failure?

Which of the following would lead to greater competition in the maturity stage of the PLC?

________ is the product life cycle period when sales growth slows because the product has achieved acceptance. Profits level off because marketing costs increase in the face of competition.

Which of the following stages in the new product development would a firm engage in immediately after the completion of concept testing?

All of the following are disadvantages of test marketing EXCEPT that test marketing ________.

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?

Which of the following is an internal source for new product ideas?

What are the two advantages of an innovation management system for developing new products? Provide four strategies for a company to use to establish a successful system.

What elements may help to create a product image?

Which of the following is a disadvantage of a team-based approach to new product development?

The innovation management system approach yields two favorable outcomes: it helps create an innovation-oriented company culture, and it ________.

Most products in the marketplace are in the ________ stage of the product life cycle.

What causes a specific brand's life cycle to change quickly?

Which of the following statements characterizes the introduction stage of the PLC?

When a product is in the maturity stage, the company should most likely consider ________.

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 of the following groups do marketers involve for the process of concept testing new products?

Why has the cost of product liability insurance risen so dramatically?

When Kraft focused on cost cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.

GreenTree Lawn and Garden Products is engaged in marketing strategy development. The first part of the marketing strategy statement created by management should outline the product's planned price, distribution, and marketing budget for the first year.

John's fascination for his grandmother's sherbet recipes inspired him to come up with a recipe for SherBetter, a gourmet sherbet for the American market. Which of the following stages of the new product development process does this exemplify?

Which of the following is a common reason for new product failure?

Which of the following would lead to greater competition in the maturity stage of the PLC?

________ is the product life cycle period when sales growth slows because the product has achieved acceptance. Profits level off because marketing costs increase in the face of competition.

Which of the following stages in the new product development would a firm engage in immediately after the completion of concept testing?

All of the following are disadvantages of test marketing EXCEPT that test marketing ________.

Skyrim Corp. lacks the capital and capacity to launch its new helicopter for full national and international distribution. If the test market results look promising, what should be management's next step?

Which of the following is an internal source for new product ideas?

What are the two advantages of an innovation management system for developing new products? Provide four strategies for a company to use to establish a successful system.

What elements may help to create a product image?

Which of the following is a disadvantage of a team-based approach to new product development?

The innovation management system approach yields two favorable outcomes: it helps create an innovation-oriented company culture, and it ________.

Most products in the marketplace are in the ________ stage of the product life cycle.

What causes a specific brand's life cycle to change quickly?

Which of the following statements characterizes the introduction stage of the PLC?

When a product is in the maturity stage, the company should most likely consider ________.

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