Question 1

Services can move to the decline stage as a function of technological changes.

Accepted Answer

A) True 
 B)False

Question 2

Which product life cycle has only two stages: introduction and decline?

Accepted Answer

A)  High learning 
B)  Low learning 
C)  Fad 
D)  Fashion 
A)  High learning 
B)  Low learning 
C)  Fad 
D)  Fashion

Question 3

Brand equity is the:

Accepted Answer

A)  worth of the brand in actual dollars in the marketplace. 
B)  total dollars a company spends in promoting its brand name. 
C)  equity a company has in its stock price. 
D)  association a consumer places with the organization's brand. 
A)  worth of the brand in actual dollars in the marketplace. 
B)  total dollars a company spends in promoting its brand name. 
C)  equity a company has in its stock price. 
D)  association a consumer places with the organization's brand.

Question 4

Specialty heart hospitals represent depth rather than breadth in terms of a product line perspective.

Accepted Answer

A) True 
 B)False

Question 5

In recent years, the greatest change in hospital revenues has been the increase occurring in revenue from:

Accepted Answer

A)  outpatient services. 
B)  ancillary services. 
C)  inpatient services. 
D)  emergency services. 
A)  outpatient services. 
B)  ancillary services. 
C)  inpatient services. 
D)  emergency services.

Question 6

Multidimensional scaling provides a perceptual map of the actual competitive position of brands relative to each other in terms of consumer ratings that are stable over time.

Accepted Answer

A) True 
 B)False

Question 7

Over the course of the product life cycle, prices for a product or service tend to stabilize as competition enters.

Accepted Answer

A) True 
 B)False

Question 8

A manufacturer of proton beam therapy publishes a magazine showing articles and stories of patients whose diseases have been treated with great results using this technology. This is an example of a strategy to create:

Accepted Answer

A)  differentiation. 
B)  skimming. 
C)  secondary demand. 
D)  primary demand. 
A)  differentiation. 
B)  skimming. 
C)  secondary demand. 
D)  primary demand.

Question 9

In the early phase of the mature life cycle, growth in sales/revenues continues to occur due to:

Accepted Answer

A)  marginal competitors exiting the marketplace. 
B)  the lessening battle for market share. 
C)  stronger players beginning to solidify their position. 
D)  customers beginning to recognize their preferences for the brand. 
A)  marginal competitors exiting the marketplace. 
B)  the lessening battle for market share. 
C)  stronger players beginning to solidify their position. 
D)  customers beginning to recognize their preferences for the brand.

Question 10

Brand architecture refers to the strategy a company uses in developing its brand equity.

Accepted Answer

A) True 
 B)False

Question 11

The entire range of products or services offered by an organization is referred to as its product mix.

Accepted Answer

A) True 
 B)False

Question 12

Which of the following is not one of the many advantages that have been cited of having a strong brand?

Accepted Answer

A)  It aids in establishing a competitive advantage. 
B)  It allows an organization to establish a successful digital presence. 
C)  It can create a barrier to entry. 
D)  All of these are correct. 
A)  It aids in establishing a competitive advantage. 
B)  It allows an organization to establish a successful digital presence. 
C)  It can create a barrier to entry. 
D)  All of these are correct.

Question 13

Developing new product or service lines to reposition the organization to enjoy future revenue streams should occur during which stage of the product life cycle?

Accepted Answer

A)  Introduction 
B)  Growth 
C)  Maturity 
D)  Decline 
A)  Introduction 
B)  Growth 
C)  Maturity 
D)  Decline

Question 14

A major externality that can affect the life cycle of any service in health care is reimbursement changes.

Accepted Answer

A) True 
 B)False

Question 15

In the mature stage of the product life cycle, a key objective becomes one of:

Accepted Answer

A)  maintaining price margins. 
B)  maintaining the existing customer base. 
C)  recognizing when it is necessary to withdraw from the market first. 
D)  developing selective demand. 
A)  maintaining price margins. 
B)  maintaining the existing customer base. 
C)  recognizing when it is necessary to withdraw from the market first. 
D)  developing selective demand.

Question 16

MedCath Hospitals develops and establishes heart hospitals across the country. This approach is an example of a niche strategy.

Accepted Answer

A) True 
 B)False

Question 17

The Louisiana Heart Hospital focuses only on the care of heart-related diseases. This is an example of a:

Accepted Answer

A)  niche strategy. 
B)  product-focused strategy. 
C)  selective-demand strategy. 
D)  key market strategy. 
A)  niche strategy. 
B)  product-focused strategy. 
C)  selective-demand strategy. 
D)  key market strategy.

Question 18

The Duncan Yo-Yo Company has periodic times when sales are quite high; then it goes out of favor, only to return again among younger consumers as a product of interest. This product exhibits a fad product life cycle.

Accepted Answer

A) True 
 B)False

Question 19

Intuitive Surgical has entered the market with a robotics surgical device. Because it is in the growth stage of the life cycle, it has decided to:

Accepted Answer

A)  lower prices. 
B)  generate primary demand. 
C)  target different market segments for usage of its device. 
D)  All of these are correct. 
A)  lower prices. 
B)  generate primary demand. 
C)  target different market segments for usage of its device. 
D)  All of these are correct.

Question 20

The less sure an organization is of demand relative to capacity, the more likely it is to use a penetration pricing approach in the introduction stage of the product life cycle.

Accepted Answer

A) True 
 B)False

Services can move to the decline stage as a function of technological changes.

Which product life cycle has only two stages: introduction and decline?

Brand equity is the:

Specialty heart hospitals represent depth rather than breadth in terms of a product line perspective.

In recent years, the greatest change in hospital revenues has been the increase occurring in revenue from:

Multidimensional scaling provides a perceptual map of the actual competitive position of brands relative to each other in terms of consumer ratings that are stable over time.

Over the course of the product life cycle, prices for a product or service tend to stabilize as competition enters.

A manufacturer of proton beam therapy publishes a magazine showing articles and stories of patients whose diseases have been treated with great results using this technology. This is an example of a strategy to create:

In the early phase of the mature life cycle, growth in sales/revenues continues to occur due to:

Brand architecture refers to the strategy a company uses in developing its brand equity.

The entire range of products or services offered by an organization is referred to as its product mix.

Which of the following is not one of the many advantages that have been cited of having a strong brand?

Developing new product or service lines to reposition the organization to enjoy future revenue streams should occur during which stage of the product life cycle?

A major externality that can affect the life cycle of any service in health care is reimbursement changes.

In the mature stage of the product life cycle, a key objective becomes one of:

MedCath Hospitals develops and establishes heart hospitals across the country. This approach is an example of a niche strategy.

The Louisiana Heart Hospital focuses only on the care of heart-related diseases. This is an example of a:

The Duncan Yo-Yo Company has periodic times when sales are quite high; then it goes out of favor, only to return again among younger consumers as a product of interest. This product exhibits a fad product life cycle.

Intuitive Surgical has entered the market with a robotics surgical device. Because it is in the growth stage of the life cycle, it has decided to:

The less sure an organization is of demand relative to capacity, the more likely it is to use a penetration pricing approach in the introduction stage of the product life cycle.

The Meaning of Marketing

Marketing Strategy

The Environment of Marketing Strategy

Buyer Behavior

Marketing Research

Market Segmentation

Developing Customer Loyalty

Marketing in the Digital Age

Prices

Distribution

Promotion

Advertising

Sales and Sales Management

Controlling and Monitoring

Ethical Considerations in Marketing

Filters

Exam 9: Product Strategy

Services can move to the decline stage as a function of technological changes.

Which product life cycle has only two stages: introduction and decline?

Brand equity is the:

Specialty heart hospitals represent depth rather than breadth in terms of a product line perspective.

In recent years, the greatest change in hospital revenues has been the increase occurring in revenue from:

Multidimensional scaling provides a perceptual map of the actual competitive position of brands relative to each other in terms of consumer ratings that are stable over time.

Over the course of the product life cycle, prices for a product or service tend to stabilize as competition enters.

A manufacturer of proton beam therapy publishes a magazine showing articles and stories of patients whose diseases have been treated with great results using this technology. This is an example of a strategy to create:

In the early phase of the mature life cycle, growth in sales/revenues continues to occur due to:

Brand architecture refers to the strategy a company uses in developing its brand equity.

The entire range of products or services offered by an organization is referred to as its product mix.

Which of the following is not one of the many advantages that have been cited of having a strong brand?

Developing new product or service lines to reposition the organization to enjoy future revenue streams should occur during which stage of the product life cycle?

A major externality that can affect the life cycle of any service in health care is reimbursement changes.

In the mature stage of the product life cycle, a key objective becomes one of:

MedCath Hospitals develops and establishes heart hospitals across the country. This approach is an example of a niche strategy.

The Louisiana Heart Hospital focuses only on the care of heart-related diseases. This is an example of a:

The Duncan Yo-Yo Company has periodic times when sales are quite high; then it goes out of favor, only to return again among younger consumers as a product of interest. This product exhibits a fad product life cycle.

Intuitive Surgical has entered the market with a robotics surgical device. Because it is in the growth stage of the life cycle, it has decided to:

The less sure an organization is of demand relative to capacity, the more likely it is to use a penetration pricing approach in the introduction stage of the product life cycle.

The Meaning of Marketing

Marketing Strategy

The Environment of Marketing Strategy

Buyer Behavior

Marketing Research

Market Segmentation

Developing Customer Loyalty

Marketing in the Digital Age

Prices

Distribution

Promotion

Advertising

Sales and Sales Management

Controlling and Monitoring

Ethical Considerations in Marketing

Filters