Question 1

A(n)_____ is a new idea or offering that occurs when a company comes out with another model based on the platform and brand as one of its other products.

Accepted Answer

The answer of A(n)_____ is a new idea or offering...

Question 2

Downsizing entails:

Accepted Answer

A) decreasing the product price. 
B) decreasing the amount of units sold at a retail location. 
C) decreasing the size of the package. 
D) creating a new product line. 
E) getting rid of a product,service,or business. 
A) decreasing the product price. 
B) decreasing the amount of units sold at a retail location. 
C) decreasing the size of the package. 
D) creating a new product line. 
E) getting rid of a product,service,or business.

Question 3

In a penetration pricing strategy,the high price entailed must be consistent with the nature of the product as well as the other marketing strategies being used to promote it.

Accepted Answer

A) True 
 B)False

Question 4

Organizations want consumers to perceive that a new offering is desirable or better than existing products.

Accepted Answer

A) True 
 B)False

Question 5

In which of the following stages of the new product development process does concept testing occur?

Accepted Answer

A) Launch 
B) Idea generation 
C) Development 
D) Idea screening 
E) Testing 
A) Launch 
B) Idea generation 
C) Development 
D) Idea screening 
E) Testing

Question 6

The amount of time within each stage of the product life cycle tends to be similar for most products.

Accepted Answer

A) True 
 B)False

Question 7

In the growth stage,emphasizing the advantages of the product's _____ can help a company maintain its sales in the face of competition.

Accepted Answer

The answer of In the growth stage,emphasizing the advantages of...

Question 8

When introducing products to international markets,firms can either _____ or _____,the former being to keep the products the same and the later being to change the product to meet the needs of the local culture.

Accepted Answer

The answer of When introducing products to international markets,firms can...

Question 9

The size of a company will affect how the different stages of their new product development process are conducted.

Accepted Answer

A) True 
 B)False

Question 10

A price skimming strategy is often used for products such as cereals.

Accepted Answer

A) True 
 B)False

Question 11

The purpose of concept testing is to get early consumer feedback before investing too much money in an offering that won't work.

Accepted Answer

A) True 
 B)False

Question 12

A price skimming strategy often attracts consumers who are _____.

Accepted Answer

A) price sensitive 
B) laggards 
C) the early majority 
D) early adopters 
E) the late majority 
A) price sensitive 
B) laggards 
C) the early majority 
D) early adopters 
E) the late majority

Question 13

What strategies do marketers implement in the decline stage of the product life cycle?

Accepted Answer

Some companies choose to cut budgets dev

Question 14

Companies introducing products and services abroad typically must have the financial resources to make a long-term commitment.

Accepted Answer

A) True 
 B)False

Question 15

A focus group consists of _____ people in which they focus on a particular topic.

Accepted Answer

The answer of A focus group consists of _____ people...

Question 16

Modifying the target market helps a company attract different customers by:

Accepted Answer

A) changing the packaging. 
B) sticking with the same customer. 
C) standardizing the product. 
D) finding new uses for a product. 
E) modifying the product quality. 
A) changing the packaging. 
B) sticking with the same customer. 
C) standardizing the product. 
D) finding new uses for a product. 
E) modifying the product quality.

Question 17

_____ are potential customers who are innovative and develop new applications or new products for their own use without the aid of a supplier.

Accepted Answer

The answer of _____ are potential customers who are innovative...

Question 18

The stage in the product life cycle when promotions focus on the specific benefits the product offers and its value relative to competitive offerings is known as the _____ stage.

Accepted Answer

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

Question 19

Adaptation involves the changes that a firm makes to a product or service so that it fits the _____.

Accepted Answer

The answer of Adaptation involves the changes that a firm...

Question 20

Identify various sources of idea generation for companies.

Accepted Answer

Ideas can be developed by company founde

A(n)_____ is a new idea or offering that occurs when a company comes out with another model based on the platform and brand as one of its other products.

Downsizing entails:

In a penetration pricing strategy,the high price entailed must be consistent with the nature of the product as well as the other marketing strategies being used to promote it.

Organizations want consumers to perceive that a new offering is desirable or better than existing products.

In which of the following stages of the new product development process does concept testing occur?

The amount of time within each stage of the product life cycle tends to be similar for most products.

In the growth stage,emphasizing the advantages of the product's _____ can help a company maintain its sales in the face of competition.

When introducing products to international markets,firms can either _ or _,the former being to keep the products the same and the later being to change the product to meet the needs of the local culture.

The size of a company will affect how the different stages of their new product development process are conducted.

A price skimming strategy is often used for products such as cereals.

The purpose of concept testing is to get early consumer feedback before investing too much money in an offering that won't work.

A price skimming strategy often attracts consumers who are _____.

What strategies do marketers implement in the decline stage of the product life cycle?

Companies introducing products and services abroad typically must have the financial resources to make a long-term commitment.

A focus group consists of _____ people in which they focus on a particular topic.

Modifying the target market helps a company attract different customers by:

_____ are potential customers who are innovative and develop new applications or new products for their own use without the aid of a supplier.

The stage in the product life cycle when promotions focus on the specific benefits the product offers and its value relative to competitive offerings is known as the _____ stage.

Adaptation involves the changes that a firm makes to a product or service so that it fits the _____.

Identify various sources of idea generation for companies.

What Is Marketing

Strategic Planning

Consumer Behavior: How People Make Buying Decisions

Business Buying Behavior

Market Segmenting, targeting, and Positioning

Creating Offerings

Using Marketing Channels to Create Value for Customers

Using Supply Chains to Create Value for Customers

Gathering and Using Information: Marketing Research and Market Intelligence

Integrated Marketing Communications and Traditional Media Marketing

Digital Marketing

Professional Selling

Customer Satisfaction, loyalty, and Empowerment

Price, the Only Revenue Generator

The Marketing Plan

Filters

Exam 7: Developing and Managing Offerings

A(n)_____ is a new idea or offering that occurs when a company comes out with another model based on the platform and brand as one of its other products.

Downsizing entails:

In a penetration pricing strategy,the high price entailed must be consistent with the nature of the product as well as the other marketing strategies being used to promote it.

Organizations want consumers to perceive that a new offering is desirable or better than existing products.

In which of the following stages of the new product development process does concept testing occur?

The amount of time within each stage of the product life cycle tends to be similar for most products.

In the growth stage,emphasizing the advantages of the product's _____ can help a company maintain its sales in the face of competition.

When introducing products to international markets,firms can either _____ or _____,the former being to keep the products the same and the later being to change the product to meet the needs of the local culture.

The size of a company will affect how the different stages of their new product development process are conducted.

A price skimming strategy is often used for products such as cereals.

The purpose of concept testing is to get early consumer feedback before investing too much money in an offering that won't work.

A price skimming strategy often attracts consumers who are _____.

What strategies do marketers implement in the decline stage of the product life cycle?

Companies introducing products and services abroad typically must have the financial resources to make a long-term commitment.

A focus group consists of _____ people in which they focus on a particular topic.

Modifying the target market helps a company attract different customers by:

_____ are potential customers who are innovative and develop new applications or new products for their own use without the aid of a supplier.

The stage in the product life cycle when promotions focus on the specific benefits the product offers and its value relative to competitive offerings is known as the _____ stage.

Adaptation involves the changes that a firm makes to a product or service so that it fits the _____.

Identify various sources of idea generation for companies.

What Is Marketing

Strategic Planning

Consumer Behavior: How People Make Buying Decisions

Business Buying Behavior

Market Segmenting, targeting, and Positioning

Creating Offerings

Using Marketing Channels to Create Value for Customers

Using Supply Chains to Create Value for Customers

Gathering and Using Information: Marketing Research and Market Intelligence

Integrated Marketing Communications and Traditional Media Marketing

Digital Marketing

Professional Selling

Customer Satisfaction, loyalty, and Empowerment

Price, the Only Revenue Generator

The Marketing Plan

Filters

When introducing products to international markets,firms can either _ or _,the former being to keep the products the same and the later being to change the product to meet the needs of the local culture.