Question 1

The stages of the product life cycle,in order,are:

Accepted Answer

A)  introduction,maturity,decline 
B)  introduction,growth,maturity,decline 
C)  growth,maturity,plateau,decline 
D)  innovation,early adoption,late adoption,laggard 
E)  category acceptance,category growth,brand acceptance,brand growth 
A)  introduction,maturity,decline 
B)  introduction,growth,maturity,decline 
C)  growth,maturity,plateau,decline 
D)  innovation,early adoption,late adoption,laggard 
E)  category acceptance,category growth,brand acceptance,brand growth

Question 2

List the four stages of the product life cycle and discuss the typical characteristics for each stage.

Accepted Answer

The INTRODUCTORY STAGE is characterized

Question 3

The growth stage is the first stage of the product life cycle.

Accepted Answer

A) True 
 B)False

Question 4

In which stage of the product life cycle do marginal competitors start dropping out of the market?

Accepted Answer

A)  Introduction 
B)  Growth 
C)  Maturity 
D)  Decline 
E)  Shake-out 
A)  Introduction 
B)  Growth 
C)  Maturity 
D)  Decline 
E)  Shake-out

Question 5

There are five categories of adopters that participate in the diffusion process.Name and briefly describe each of these five categories in the correct order from earliest adopter to last adopter.

Accepted Answer

INNOVATORS represent the first 2.5 perce

Question 6

A long-run drop in sales signals the beginning of which stage in the product life cycle?

Accepted Answer

A)  Laggard stage 
B)  Saturation stage 
C)  Deterioration stage 
D)  Decline stage 
E)  Decay stage 
A)  Laggard stage 
B)  Saturation stage 
C)  Deterioration stage 
D)  Decline stage 
E)  Decay stage

Question 7

Razor scooters gained instant popularity because walkers and runners frequently saw people on the scooters zipping by them and having fun.This information suggests the adoption rate of the Razor scooter was most affected by which product characteristic?

Accepted Answer

A)  Complexity 
B)  Trialability 
C)  Relative advantage 
D)  Observability 
E)  Compatibility 
A)  Complexity 
B)  Trialability 
C)  Relative advantage 
D)  Observability 
E)  Compatibility

Question 8

What degree of product failure results when the product returns a profit but fails to achieve sales,profit,or market share goals?

Accepted Answer

A)  Primary 
B)  Secondary 
C)  Absolute 
D)  Conditional 
E)  Relative 
A)  Primary 
B)  Secondary 
C)  Absolute 
D)  Conditional 
E)  Relative

Question 9

Relative product failure occurs when the new product returns a profit but fails to achieve sales,profit,or market share goals.

Accepted Answer

A) True 
 B)False

Question 10

The first filter in the product development process is called screening.

Accepted Answer

A) True 
 B)False

Question 11

The product characteristic affecting the rate of adoption characterized by the degree to which a product is perceived as superior to existing substitutes is:

Accepted Answer

A)  compatibility 
B)  complexity 
C)  relative advantage 
D)  product differentiation 
E)  competitive advantage 
A)  compatibility 
B)  complexity 
C)  relative advantage 
D)  product differentiation 
E)  competitive advantage

Question 12

Washing machines and refrigerators are in the _____ stage of the product life cycle.

Accepted Answer

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

Question 13

A firm's new-product strategy links the new-product development process with the objectives of the marketing departments,the business unit,and the corporation.

Accepted Answer

A) True 
 B)False

Question 14

What is the final stage in the new-product development process? What tasks are set in motion during this stage?

Accepted Answer

The final stage in the new-product devel

Question 15

A test market is one example of a focus group where consumers are encouraged to try a new product and provide feedback to the manufacturer.

Accepted Answer

A) True 
 B)False

Question 16

A dominant characteristic of the late majority is:

Accepted Answer

A)  deliberateness 
B)  skepticism 
C)  respect of others 
D)  cheerfulness 
E)  optimism 
A)  deliberateness 
B)  skepticism 
C)  respect of others 
D)  cheerfulness 
E)  optimism

Question 17

Profits typically reach their peak during the growth stage of the product life cycle.

Accepted Answer

A) True 
 B)False

Question 18

At the beginning of the maturity stage of the product life cycle,sales typically:

Accepted Answer

A)  become flat and do not change 
B)  increase at an increasing rate 
C)  decrease at a decreasing rate 
D)  decrease at an increasing rate 
E)  increase at a decreasing rate 
A)  become flat and do not change 
B)  increase at an increasing rate 
C)  decrease at a decreasing rate 
D)  decrease at an increasing rate 
E)  increase at a decreasing rate

Question 19

Which of the following would be considered a new product?

Accepted Answer

A)  A new product line 
B)  A new-to-the-world product 
C)  An addition to an existing product line 
D)  An improvement or revision of an existing product 
E)  All of these choices 
A)  A new product line 
B)  A new-to-the-world product 
C)  An addition to an existing product line 
D)  An improvement or revision of an existing product 
E)  All of these choices

Question 20

_____ is a process where a group thinks of as many ways to vary a product or solve a problem as possible without considering the practicality of the ideas.

Accepted Answer

A)  New-product brain dumping 
B)  Screening 
C)  A focus-group interview 
D)  Brainstorming 
E)  Diffusion 
A)  New-product brain dumping 
B)  Screening 
C)  A focus-group interview 
D)  Brainstorming 
E)  Diffusion

Exam 11: Developing and Managing Products

The stages of the product life cycle,in order,are:

List the four stages of the product life cycle and discuss the typical characteristics for each stage.

The growth stage is the first stage of the product life cycle.

In which stage of the product life cycle do marginal competitors start dropping out of the market?

There are five categories of adopters that participate in the diffusion process.Name and briefly describe each of these five categories in the correct order from earliest adopter to last adopter.

A long-run drop in sales signals the beginning of which stage in the product life cycle?

Razor scooters gained instant popularity because walkers and runners frequently saw people on the scooters zipping by them and having fun.This information suggests the adoption rate of the Razor scooter was most affected by which product characteristic?

What degree of product failure results when the product returns a profit but fails to achieve sales,profit,or market share goals?

Relative product failure occurs when the new product returns a profit but fails to achieve sales,profit,or market share goals.

The first filter in the product development process is called screening.

The product characteristic affecting the rate of adoption characterized by the degree to which a product is perceived as superior to existing substitutes is:

Washing machines and refrigerators are in the _____ stage of the product life cycle.

A firm's new-product strategy links the new-product development process with the objectives of the marketing departments,the business unit,and the corporation.

What is the final stage in the new-product development process? What tasks are set in motion during this stage?

A test market is one example of a focus group where consumers are encouraged to try a new product and provide feedback to the manufacturer.

A dominant characteristic of the late majority is:

Profits typically reach their peak during the growth stage of the product life cycle.

At the beginning of the maturity stage of the product life cycle,sales typically:

Which of the following would be considered a new product?

_____ is a process where a group thinks of as many ways to vary a product or solve a problem as possible without considering the practicality of the ideas.

An Overview of Marketing

Strategic Planning for Competitive Advantage

Ethics and Social Responsibility

The Marketing Environment

Developing a Global Vision

Consumer Decision Making

Business Marketing

Segmenting and Targeting Markets

Decision Support Systems and Marketing Research

Product Decisions

Services and Nonprofit Organization Marketing

Marketing Channels

Supply Chain Management

Retailing

Promotional Planning for Competitive Advantage

Advertising and Public Relations

Sales Promotion and Personal Selling

Pricing Concepts

Setting the Right Price

Customer Relationship Management (CRM)

Social Media and Marketing

Filters