Question 1

When a product enters the maturity stage,the company should consider ________.

Accepted Answer

A) harvesting the product 
B) modifying the product 
C) divesting the product 
D) maintaining the product 
E) dropping the product 
A) harvesting the product 
B) modifying the product 
C) divesting the product 
D) maintaining the product 
E) dropping the product

Question 2

CisTech is test marketing its new computers by measuring consumer responses to the new computers and its marketing tactics in laboratory stores.CisTech is using controlled test marketing in this scenario.

Accepted Answer

A) True 
 B)False

Question 3

Once the product or service passes the business analysis test,it moves into the ________ stage.

Accepted Answer

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

Question 4

The ________ is used to study the course of a product's sales and profits for the duration that it is produced and sold in the market.

Accepted Answer

A) sequential product development process 
B) product life cycle 
C) business analysis 
D) vendor analysis 
E) portfolio analysis 
A) sequential product development process 
B) product life cycle 
C) business analysis 
D) vendor analysis 
E) portfolio analysis

Question 5

The Consumer Product Safety Act of 1972 established the Consumer Product Safety Commission,which has the authority to ban or seize potentially harmful products and set severe penalties for violation of the law.

Accepted Answer

A) True 
 B)False

Question 6

The business analysis stage is the first stage in the new-product development process.

Accepted Answer

A) True 
 B)False

Question 7

Some companies are now appointing ________,whose job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems.

Accepted Answer

A) intradepartmental teams 
B) idea generation teams 
C) product audit committees 
D) product stewards 
E) listening officers 
A) intradepartmental teams 
B) idea generation teams 
C) product audit committees 
D) product stewards 
E) listening officers

Question 8

Immediately after concept testing,a firm would engage in the ________ stage.

Accepted Answer

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

Question 9

In the ________ stage,a firm faces a trade-off between high market share and high profit.

Accepted Answer

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

Question 10

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

Accepted Answer

A) True 
 B)False

Question 11

Each product will have a life cycle,although its exact shape and length is not known in advance.Briefly explain each step in the PLC.

Accepted Answer

Product development begins when the comp

Question 12

Quest Inc.has recently conducted a brainstorming session after visiting several trade fairs and generated a large number of ideas for adding new products and services.The owners will begin with the ________ stage to arrive at a realistic number of ideas to adopt.

Accepted Answer

A) idea generation 
B) idea screening 
C) concept testing 
D) concept development 
E) business analysis 
A) idea generation 
B) idea screening 
C) concept testing 
D) concept development 
E) business analysis

Question 13

A ________ is the way consumers perceive an actual or potential product.

Accepted Answer

A) product audit 
B) product feature 
C) product image 
D) product framework 
E) product mix 
A) product audit 
B) product feature 
C) product image 
D) product framework 
E) product mix

Question 14

When a company decides to maintain a product in the decline stage,it has no alternative but to sell the product to another firm or simply liquidate it at salvage value.

Accepted Answer

A) True 
 B)False

Question 15

To avoid the problems of too few new-product ideas and the failure of many good ideas,management should install an innovation management system that collects,reviews,evaluates,and manages new-product ideas.

Accepted Answer

A) True 
 B)False

Question 16

Top management can install a(n)________ to direct the flow of new-product ideas to a central point where they can be collected,reviewed,and evaluated.

Accepted Answer

A) idea evaluation system 
B) innovation management system 
C) database 
D) EIS 
E) data processing system 
A) idea evaluation system 
B) innovation management system 
C) database 
D) EIS 
E) data processing system

Question 17

In the ________ stage,an executive creates a write-up of a new-product idea to be presented to a new-product committee.

Accepted Answer

A) idea generation 
B) idea screening 
C) test marketing 
D) product positioning 
E) internal marketing 
A) idea generation 
B) idea screening 
C) test marketing 
D) product positioning 
E) internal marketing

Question 18

Flurrbies,a line of winter accessories by a leading fashion label,fell in and out of favor with customers quickly.Flurrbies represents an example of a(n)________.

Accepted Answer

A) first-mover product 
B) fashion 
C) fad 
D) intermediate good 
E) repositioned product 
A) first-mover product 
B) fashion 
C) fad 
D) intermediate good 
E) repositioned product

Question 19

The INS Corp.finds that the tastes and preferences of its customers change more rapidly now than in the past.Consequently,the marketing manager should constantly look for external ideas from customers,suppliers,the competition,and the sales force.

Accepted Answer

A) True 
 B)False

Question 20

The maturity stage of the PLC is characterized by a slowdown in sales growth.

Accepted Answer

A) True 
 B)False

When a product enters the maturity stage,the company should consider ________.

CisTech is test marketing its new computers by measuring consumer responses to the new computers and its marketing tactics in laboratory stores.CisTech is using controlled test marketing in this scenario.

Once the product or service passes the business analysis test,it moves into the ________ stage.

The ________ is used to study the course of a product's sales and profits for the duration that it is produced and sold in the market.

The Consumer Product Safety Act of 1972 established the Consumer Product Safety Commission,which has the authority to ban or seize potentially harmful products and set severe penalties for violation of the law.

The business analysis stage is the first stage in the new-product development process.

Some companies are now appointing ________,whose job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems.

Immediately after concept testing,a firm would engage in the ________ stage.

In the ________ stage,a firm faces a trade-off between high market share and high profit.

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

Each product will have a life cycle,although its exact shape and length is not known in advance.Briefly explain each step in the PLC.

Quest Inc.has recently conducted a brainstorming session after visiting several trade fairs and generated a large number of ideas for adding new products and services.The owners will begin with the ________ stage to arrive at a realistic number of ideas to adopt.

A ________ is the way consumers perceive an actual or potential product.

When a company decides to maintain a product in the decline stage,it has no alternative but to sell the product to another firm or simply liquidate it at salvage value.

To avoid the problems of too few new-product ideas and the failure of many good ideas,management should install an innovation management system that collects,reviews,evaluates,and manages new-product ideas.

Top management can install a(n)________ to direct the flow of new-product ideas to a central point where they can be collected,reviewed,and evaluated.

In the ________ stage,an executive creates a write-up of a new-product idea to be presented to a new-product committee.

Flurrbies,a line of winter accessories by a leading fashion label,fell in and out of favor with customers quickly.Flurrbies represents an example of a(n)________.

The INS Corp.finds that the tastes and preferences of its customers change more rapidly now than in the past.Consequently,the marketing manager should constantly look for external ideas from customers,suppliers,the competition,and the sales force.

The maturity stage of the PLC is characterized by a slowdown in sales growth.

Marketing Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Product,Services,and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 8: Developing New Products and Managing the Product Life Cycle

When a product enters the maturity stage,the company should consider ________.

CisTech is test marketing its new computers by measuring consumer responses to the new computers and its marketing tactics in laboratory stores.CisTech is using controlled test marketing in this scenario.

Once the product or service passes the business analysis test,it moves into the ________ stage.

The ________ is used to study the course of a product's sales and profits for the duration that it is produced and sold in the market.

The Consumer Product Safety Act of 1972 established the Consumer Product Safety Commission,which has the authority to ban or seize potentially harmful products and set severe penalties for violation of the law.

The business analysis stage is the first stage in the new-product development process.

Some companies are now appointing ________,whose job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems.

Immediately after concept testing,a firm would engage in the ________ stage.

In the ________ stage,a firm faces a trade-off between high market share and high profit.

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

Each product will have a life cycle,although its exact shape and length is not known in advance.Briefly explain each step in the PLC.

Quest Inc.has recently conducted a brainstorming session after visiting several trade fairs and generated a large number of ideas for adding new products and services.The owners will begin with the ________ stage to arrive at a realistic number of ideas to adopt.

A ________ is the way consumers perceive an actual or potential product.

When a company decides to maintain a product in the decline stage,it has no alternative but to sell the product to another firm or simply liquidate it at salvage value.

To avoid the problems of too few new-product ideas and the failure of many good ideas,management should install an innovation management system that collects,reviews,evaluates,and manages new-product ideas.

Top management can install a(n)________ to direct the flow of new-product ideas to a central point where they can be collected,reviewed,and evaluated.

In the ________ stage,an executive creates a write-up of a new-product idea to be presented to a new-product committee.

Flurrbies,a line of winter accessories by a leading fashion label,fell in and out of favor with customers quickly.Flurrbies represents an example of a(n)________.

The INS Corp.finds that the tastes and preferences of its customers change more rapidly now than in the past.Consequently,the marketing manager should constantly look for external ideas from customers,suppliers,the competition,and the sales force.

The maturity stage of the PLC is characterized by a slowdown in sales growth.

Marketing Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Understanding Consumer and Business Buyer Behavior

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Product,Services,and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Marketing Channels Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value

Personal Selling and Sales Promotion

Direct and Online Marketing: Building Direct Customer Relationships

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters