Question 1

Fashion trends tend to experience short product life cycles.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following statements about the growth stage of the product life cycle is true?

Accepted Answer

A)  It is characterized by initial losses to the firm due to its high start-up costs and low levels of sales revenue. 
B)  Marketing costs increase as firms vigorously defend their market share against competitors. 
C)  Firms will only start to see a rise in profits toward the end of the stage as the product matures. 
D)  Firms attempt to reach new consumers by studying their preferences, which enable them to segment the market more precisely. 
E)  Firms may position themselves for a niche segment of diehard consumers. 
A)  It is characterized by initial losses to the firm due to its high start-up costs and low levels of sales revenue. 
B)  Marketing costs increase as firms vigorously defend their market share against competitors. 
C)  Firms will only start to see a rise in profits toward the end of the stage as the product matures. 
D)  Firms attempt to reach new consumers by studying their preferences, which enable them to segment the market more precisely. 
E)  Firms may position themselves for a niche segment of diehard consumers.

Question 3

Paul listens to music on his iPhone, but he still buys vinyl records at his local music store on occasion, although they are getting harder to find. Vinyl records are in the ________ stage of the product life cycle.

Accepted Answer

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

Question 4

When conducting exploratory concept testing for her firm's new Internet antipiracy software, which is the most important question that Dee should ask?

Accepted Answer

A)  How long will it take to bring the software to market? 
B)  Will respondents purchase the software if it becomes available? 
C)  Who will determine the price to be charged? 
D)  Where should the product be sold? 
E)  Which computer trade show will be used to introduce the product? 
A)  How long will it take to bring the software to market? 
B)  Will respondents purchase the software if it becomes available? 
C)  Who will determine the price to be charged? 
D)  Where should the product be sold? 
E)  Which computer trade show will be used to introduce the product?

Question 5

Using the diffusion of innovation theory, what factors contributed to the rapid adoption and success of Amazon.com?

Accepted Answer

Some answers may vary, but will likely i

Question 6

By the time BMW and Mercedes-Benz entered the mini-SUV market, there were many competitors, sales had peaked, and profits were declining. These firms entered the market during the ________ stage of the product life cycle.

Accepted Answer

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

Question 7

What happens when a product has been in the marketplace for a long time? How can this be avoided?

Accepted Answer

It is likely that the market will become

Question 8

Ron sells commercial-grade tools to building contractors. Whenever he visits his customers, he looks to see if they are using his tools for other tasks or have modified the tools for some other purpose. These customers are ________, who can provide ideas for new and improved products.

Accepted Answer

A)  laggards 
B)  market testers 
C)  lead users 
D)  reverse engineers 
E)  concept testers 
A)  laggards 
B)  market testers 
C)  lead users 
D)  reverse engineers 
E)  concept testers

Question 9

As it pertains to the diffusion of innovation, if the ________ group is relatively small, the number of people who ultimately adopt the innovation likely will also be small.

Accepted Answer

A)  innovator 
B)  laggard 
C)  late majority 
D)  early majority 
E)  early adopter 
A)  innovator 
B)  laggard 
C)  late majority 
D)  early majority 
E)  early adopter

Question 10

The maturity phase of the product life cycle is characterized by greatly reduced competition.

Accepted Answer

A) True 
 B)False

Question 11

Inkjet printers were a big improvement over the dot-matrix printers they replaced. Inkjet printers gained rapid acceptance in the marketplace primarily because of their

Accepted Answer

A)  relative advantage. 
B)  compatibility. 
C)  observability. 
D)  complexity. 
E)  trialability. 
A)  relative advantage. 
B)  compatibility. 
C)  observability. 
D)  complexity. 
E)  trialability.

Question 12

When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the ________ stage of the product life cycle.

Accepted Answer

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

Question 13

Many restaurants roll out new ideas first in Orlando, Florida, a location that attracts a vast range of diverse tourists and thus might offer insights into what various consumer groups will like. This is an example of

Accepted Answer

A)  target marketing. 
B)  test marketing. 
C)  product marketing. 
D)  product launching. 
E)  premarket testing. 
A)  target marketing. 
B)  test marketing. 
C)  product marketing. 
D)  product launching. 
E)  premarket testing.

Question 14

Respond to the statement "Create or die" from a new product innovation perspective.

Accepted Answer

While innovation may not help a firm in

Question 15

The Apple iPod changed the way people listen to music but it also created an entirely new industry devoted to accessories such as cases, ear buds, docking stations, and speakers. The Apple iPod is considered a

Accepted Answer

A)  pioneer product. 
B)  introductory product. 
C)  mature product. 
D)  diffused product. 
E)  early adopted product. 
A)  pioneer product. 
B)  introductory product. 
C)  mature product. 
D)  diffused product. 
E)  early adopted product.

Question 16

The process by which the use of a new product or service spreads throughout a market group is referred to as

Accepted Answer

A)  new product introduction. 
B)  lead user dispersion. 
C)  diffusion of innovation. 
D)  the product life cycle. 
E)  product development diffusion. 
A)  new product introduction. 
B)  lead user dispersion. 
C)  diffusion of innovation. 
D)  the product life cycle. 
E)  product development diffusion.

Question 17

General Electric is developing a new magnetic resonance imaging (MRI) device to be marketed to family practice physicians. These new machines will be much smaller and less expensive than the existing MRI machines now in most hospitals. What factors will probably affect the diffusion of these new machines?

Accepted Answer

First, the relative advantage is signifi

Question 18

New-to-the-world products can establish completely new markets or radically change the rules of competition as well as consumer preferences in a market.

Accepted Answer

A) True 
 B)False

Question 19

To generate ideas for new products, some firms will purchase the rights to use another firm's technology. This is known as

Accepted Answer

A)  R&D. 
B)  licensing. 
C)  consumer research. 
D)  outsourcing. 
E)  brainstorming. 
A)  R&D. 
B)  licensing. 
C)  consumer research. 
D)  outsourcing. 
E)  brainstorming.

Question 20

Firms can measure the success of a new product by all of the following factors except

Accepted Answer

A)  satisfaction of its technical requirements. 
B)  fewer competitors in the market. 
C)  satisfactory sales and profits. 
D)  customer acceptance. 
E)  satisfactory performance. 
A)  satisfaction of its technical requirements. 
B)  fewer competitors in the market. 
C)  satisfactory sales and profits. 
D)  customer acceptance. 
E)  satisfactory performance.

Fashion trends tend to experience short product life cycles.

Which of the following statements about the growth stage of the product life cycle is true?

Paul listens to music on his iPhone, but he still buys vinyl records at his local music store on occasion, although they are getting harder to find. Vinyl records are in the ________ stage of the product life cycle.

When conducting exploratory concept testing for her firm's new Internet antipiracy software, which is the most important question that Dee should ask?

Using the diffusion of innovation theory, what factors contributed to the rapid adoption and success of Amazon.com?

By the time BMW and Mercedes-Benz entered the mini-SUV market, there were many competitors, sales had peaked, and profits were declining. These firms entered the market during the ________ stage of the product life cycle.

What happens when a product has been in the marketplace for a long time? How can this be avoided?

Ron sells commercial-grade tools to building contractors. Whenever he visits his customers, he looks to see if they are using his tools for other tasks or have modified the tools for some other purpose. These customers are ________, who can provide ideas for new and improved products.

As it pertains to the diffusion of innovation, if the ________ group is relatively small, the number of people who ultimately adopt the innovation likely will also be small.

The maturity phase of the product life cycle is characterized by greatly reduced competition.

Inkjet printers were a big improvement over the dot-matrix printers they replaced. Inkjet printers gained rapid acceptance in the marketplace primarily because of their

When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the ________ stage of the product life cycle.

Many restaurants roll out new ideas first in Orlando, Florida, a location that attracts a vast range of diverse tourists and thus might offer insights into what various consumer groups will like. This is an example of

Respond to the statement "Create or die" from a new product innovation perspective.

The Apple iPod changed the way people listen to music but it also created an entirely new industry devoted to accessories such as cases, ear buds, docking stations, and speakers. The Apple iPod is considered a

The process by which the use of a new product or service spreads throughout a market group is referred to as

New-to-the-world products can establish completely new markets or radically change the rules of competition as well as consumer preferences in a market.

To generate ideas for new products, some firms will purchase the rights to use another firm's technology. This is known as

Firms can measure the success of a new product by all of the following factors except

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Social and Mobile Marketing

Conscious Marketing, Corporate Social Responsibility, and Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Services: the Intangible Product

Pricing Concepts for Establishing Value

Supply Chain and Channel Management

Retailing and Omnichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Personal Selling and Sales Management

Filters

Exam 12: Developing New Products

Fashion trends tend to experience short product life cycles.

Which of the following statements about the growth stage of the product life cycle is true?

Paul listens to music on his iPhone, but he still buys vinyl records at his local music store on occasion, although they are getting harder to find. Vinyl records are in the ________ stage of the product life cycle.

When conducting exploratory concept testing for her firm's new Internet antipiracy software, which is the most important question that Dee should ask?

Using the diffusion of innovation theory, what factors contributed to the rapid adoption and success of Amazon.com?

By the time BMW and Mercedes-Benz entered the mini-SUV market, there were many competitors, sales had peaked, and profits were declining. These firms entered the market during the ________ stage of the product life cycle.

What happens when a product has been in the marketplace for a long time? How can this be avoided?

Ron sells commercial-grade tools to building contractors. Whenever he visits his customers, he looks to see if they are using his tools for other tasks or have modified the tools for some other purpose. These customers are ________, who can provide ideas for new and improved products.

As it pertains to the diffusion of innovation, if the ________ group is relatively small, the number of people who ultimately adopt the innovation likely will also be small.

The maturity phase of the product life cycle is characterized by greatly reduced competition.

Inkjet printers were a big improvement over the dot-matrix printers they replaced. Inkjet printers gained rapid acceptance in the marketplace primarily because of their

When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the ________ stage of the product life cycle.

Many restaurants roll out new ideas first in Orlando, Florida, a location that attracts a vast range of diverse tourists and thus might offer insights into what various consumer groups will like. This is an example of

Respond to the statement "Create or die" from a new product innovation perspective.

The Apple iPod changed the way people listen to music but it also created an entirely new industry devoted to accessories such as cases, ear buds, docking stations, and speakers. The Apple iPod is considered a

The process by which the use of a new product or service spreads throughout a market group is referred to as

New-to-the-world products can establish completely new markets or radically change the rules of competition as well as consumer preferences in a market.

To generate ideas for new products, some firms will purchase the rights to use another firm's technology. This is known as

Firms can measure the success of a new product by all of the following factors except

Overview of Marketing

Developing Marketing Strategies and a Marketing Plan

Social and Mobile Marketing

Conscious Marketing, Corporate Social Responsibility, and Ethics

Analyzing the Marketing Environment

Consumer Behavior

Business-To-Business Marketing

Global Marketing

Segmentation, Targeting, and Positioning

Marketing Research

Product, Branding, and Packaging Decisions

Services: the Intangible Product

Pricing Concepts for Establishing Value

Supply Chain and Channel Management

Retailing and Omnichannel Marketing

Integrated Marketing Communications

Advertising, Public Relations, and Sales Promotions

Personal Selling and Sales Management

Filters