Exam 11: Developing and Managing Products

You are a product manager for a manufacturer of trampolines.You have determined that the trampoline is in the maturity stage of the product life cycle.To keep your product from entering the decline stage,you should:

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

Oakley,a manufacturer of protective eyewear for various kinds of sports,has introduced sunglasses that play music.The glasses weigh just a few ounces and can hold up to 120 songs.These sunglasses would be an example of a(n):

What degree of failure occurs when a company cannot recoup its development,marketing,and production costs?

A European dairy,which is famous for its rich ice creams,has introduced basil,tomato,fennel,and oregano flavored ice creams.In the process of developing these new flavors,the dairy surveyed world-famous chefs to determine which nontraditional flavors had the greatest level of marketability.This survey would have happened during which stage of the product development process?

The degree to which a product can be used on a limited basis represents which product characteristic influencing the rate of adoption?

The first stage of the new-product development process is:

Among the late majority group,adoption of a product primarily results from:

The process of converting applications for new technologies into marketable products is called:

The rate of sales decline during the decline stage of the product life cycle is largely governed by:

The final stage in the new-product development process is:

Draw the sales line and the profit line of the product life cycle in the following diagram,and label each line.Then indicate the names of the four stages of the product life cycle in the blanks provided.

Rapala VMC Corporation Finland-based Rapala VMC Corporation is the world's largest fishing lure manufacturer.It developed its first fishing lure--a cigar-shaped minnow--in 1962.The annual market for fishing lures in terms of retail sales is approximately $600 million.Rapala VMC garnered one-third of that amount in 2008.New lures must be introduced each year in order to stay competitive in this industry.Like other lure manufacturers,Rapala focuses on two questions in developing and making new lures: Does it work,and does it look good? Developing a new lure takes two or three years and involves extensive field testing by tournament professionals and fishing guides.At the annual fishing industry trade show in 2008,Rapala unveiled the "dream lure for the 21ˢᵗ century." -Refer to Rapala.Fishing lures are most likely in the _____ stage of their product life cycle.

The process by which the adoption of 3-D high-definition televisions spreads is an example of:

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

The screening and concept testing stage of the new-product development process is used to:

Discuss five sources of new-product ideas.What are some techniques could be used to stimulate creative thinking for new-product ideas?

Rapala VMC Corporation Finland-based Rapala VMC Corporation is the world's largest fishing lure manufacturer.It developed its first fishing lure--a cigar-shaped minnow--in 1962.The annual market for fishing lures in terms of retail sales is approximately $600 million.Rapala VMC garnered one-third of that amount in 2008.New lures must be introduced each year in order to stay competitive in this industry.Like other lure manufacturers,Rapala focuses on two questions in developing and making new lures: Does it work,and does it look good? Developing a new lure takes two or three years and involves extensive field testing by tournament professionals and fishing guides.At the annual fishing industry trade show in 2008,Rapala unveiled the "dream lure for the 21ˢᵗ century." -Refer to Rapala.After the trade show,the newest lure made by Rapala will enter which stage of the new-product development process?

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.

Voodoo Envy Hewlett-Packard is the number one seller of personal computers worldwide. The company has been increasingly more creative in their computer designs following the trend set by Apple Inc.Hewlett-Packard has created a ultra thin laptop called the Voodoo Envy. The laptop is less than a half inch thick and weights less than 3 1/2 pounds. It is priced at $2000. HP created the laptop to compete against Apple's MacBook Air and a model created by the Lenovo Group Ltd. Both these models were priced at around $3000.  The MacBook Air does not have removable batteries or a built-in socket for plugging into Ethernet networks.  HP's Voodoo envy does have removable batteries and offers an Ethernet port that is part of its power adapter.  The Voodoo can also be booted up in less than five seconds made possible by software developed by HP. -Refer to Voodoo Envy.The price of the Voodoo Envy is expected to be approximately $2,000.According to Forrester Research,anything above $1,500 in this market would be considered "ultra expensive." In order to motivate consumers to spend $2,000 for the Voodoo Envy,HP will probably need to spend considerable money on advertising to educate consumers to the advantages of ultrathin laptops.This is a characteristic of which stage of the product life cycle?