Question 1

A message developed for and targeted toward early adopters will be perceived similarly by late majority adopters.

Accepted Answer

A) True 
 B)False

Question 2

In the context of the new-product development process, which of the following is true of a new-product strategy?

Accepted Answer

A) It refrains from adopting ideas suggested by customers and competitors. 
B) It is the last stage of the new-product development process. 
C) It must be compatible with the objectives of the marketing department, the business unit, and the corporation. 
D) It involves targeting existing products at new markets. 
A) It refrains from adopting ideas suggested by customers and competitors. 
B) It is the last stage of the new-product development process. 
C) It must be compatible with the objectives of the marketing department, the business unit, and the corporation. 
D) It involves targeting existing products at new markets.

Question 3

Daily Farm, a food and beverage manufacturing firm, is known for its unique variety of table sauces. To offer more variations to its customers, Daily Farm recently launched an olive and pepper sauce. The olive and pepper sauce belongs to the category of improved products.

Accepted Answer

A) True 
 B)False

Question 4

Which of the following statements is true of opinion leaders?

Accepted Answer

A) They most likely belong to the late majority category of adopters. 
B) They speed up the diffusion process through word-of-mouth communication. 
C) They are distinguished by demographics. 
D) They have the longest adoption time and the lowest socioeconomic status. 
A) They most likely belong to the late majority category of adopters. 
B) They speed up the diffusion process through word-of-mouth communication. 
C) They are distinguished by demographics. 
D) They have the longest adoption time and the lowest socioeconomic status.

Question 5

In the context of product characteristics and the rate of adoption, which of the following statements is true of complexity?

Accepted Answer

A) It refers to the degree of difficulty involved in understanding and using a new product. 
B) It refers to the degree to which a new product is consistent with existing values. 
C) It refers to the degree to which a product is perceived as superior to existing substitutes. 
D) It refers to the degree to which a product can be tried on a limited basis. 
A) It refers to the degree of difficulty involved in understanding and using a new product. 
B) It refers to the degree to which a new product is consistent with existing values. 
C) It refers to the degree to which a product is perceived as superior to existing substitutes. 
D) It refers to the degree to which a product can be tried on a limited basis.

Question 6

In the context of the new-product development process, the decision to market a product is made during _____.

Accepted Answer

A) commercialization 
B) test marketing 
C) development 
D) business analysis 
A) commercialization 
B) test marketing 
C) development 
D) business analysis

Question 7

Unlike the growth stage of the product life cycle, in the introductory stage, emphasis switches from primary demand promotion to aggressive brand advertising and communication of the differences between brands.

Accepted Answer

A) True 
 B)False

Question 8

Marketing costs are high in the introductory stage of the product life cycle because:

Accepted Answer

A) product design changes become stylistic rather than functional. 
B) high dealer margins are often needed to obtain adequate distribution. 
C) manufacturers scramble to sign up dealers and distributors. 
D) emphasis is given to communication of the differences between brands in the market. 
A) product design changes become stylistic rather than functional. 
B) high dealer margins are often needed to obtain adequate distribution. 
C) manufacturers scramble to sign up dealers and distributors. 
D) emphasis is given to communication of the differences between brands in the market.

Question 9

Hakimo Corp., a manufacturer of audio equipment, has developed a unique wireless speaker system that runs on solar power. The speakers can operate for sixteen hours after being exposed to the sun for two hours. This new product, which is radically different from anything available in the market, would fall in the new product category of _____.

Accepted Answer

A) repositioned products 
B) revised products 
C) discontinuous innovations 
D) new and improved products 
A) repositioned products 
B) revised products 
C) discontinuous innovations 
D) new and improved products

Question 10

During the maturity stage of the product life cycle, new users can be added indefinitely.

Accepted Answer

A) True 
 B)False

Question 11

In the context of diffusion of innovation, the dominant value of laggards is _____.

Accepted Answer

A) skepticism 
B) deliberateness 
C) adventure 
D) tradition 
A) skepticism 
B) deliberateness 
C) adventure 
D) tradition

Question 12

Which of the following is a characteristic of products produced by multinational corporations?

Accepted Answer

A) Products are developed to meet unique market requirements whenever possible. 
B) A firm that starts with a local strategy is better able to develop global products. 
C) Products are inadequately distributed in local markets. 
D) Test marketing is not required for products developed by multinational firms. 
A) Products are developed to meet unique market requirements whenever possible. 
B) A firm that starts with a local strategy is better able to develop global products. 
C) Products are inadequately distributed in local markets. 
D) Test marketing is not required for products developed by multinational firms.

Question 13

In which of the following ways does the concept of product life cycle (PLC) help marketing managers?

Accepted Answer

A) It tells managers the length of a product's life cycle. 
B) It can be used to analyze a brand, a product form, or a product category. 
C) It dictates the marketing strategy to be used for a product. 
D) It informs marketers about the duration of a product in the various stages of its life cycle. 
A) It tells managers the length of a product's life cycle. 
B) It can be used to analyze a brand, a product form, or a product category. 
C) It dictates the marketing strategy to be used for a product. 
D) It informs marketers about the duration of a product in the various stages of its life cycle.

Question 14

Nutrioats, an oatmeal cookie product, has been in the market for over seven years. However, the product is now in its decline stage. In this case, which of the following will be a successful strategy to market Nutrioats?

Accepted Answer

A) Lengthening the product line 
B) Focusing on adding new users 
C) Spending heavily on advertising to educate consumers about the product's benefits 
D) Eliminating all nonessential marketing expenses and letting sales decline 
A) Lengthening the product line 
B) Focusing on adding new users 
C) Spending heavily on advertising to educate consumers about the product's benefits 
D) Eliminating all nonessential marketing expenses and letting sales decline

A message developed for and targeted toward early adopters will be perceived similarly by late majority adopters.

In the context of the new-product development process, which of the following is true of a new-product strategy?

Daily Farm, a food and beverage manufacturing firm, is known for its unique variety of table sauces. To offer more variations to its customers, Daily Farm recently launched an olive and pepper sauce. The olive and pepper sauce belongs to the category of improved products.

Which of the following statements is true of opinion leaders?

In the context of product characteristics and the rate of adoption, which of the following statements is true of complexity?

In the context of the new-product development process, the decision to market a product is made during _____.

Unlike the growth stage of the product life cycle, in the introductory stage, emphasis switches from primary demand promotion to aggressive brand advertising and communication of the differences between brands.

Marketing costs are high in the introductory stage of the product life cycle because:

During the maturity stage of the product life cycle, new users can be added indefinitely.

In the context of diffusion of innovation, the dominant value of laggards is _____.

Which of the following is a characteristic of products produced by multinational corporations?

In which of the following ways does the concept of product life cycle (PLC) help marketing managers?

Nutrioats, an oatmeal cookie product, has been in the market for over seven years. However, the product is now in its decline stage. In this case, which of the following will be a successful strategy to market Nutrioats?

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

Marketing Research

Product Concepts

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations, and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters

Exam 11: Developing and Managing Products

A message developed for and targeted toward early adopters will be perceived similarly by late majority adopters.

In the context of the new-product development process, which of the following is true of a new-product strategy?

Daily Farm, a food and beverage manufacturing firm, is known for its unique variety of table sauces. To offer more variations to its customers, Daily Farm recently launched an olive and pepper sauce. The olive and pepper sauce belongs to the category of improved products.

Which of the following statements is true of opinion leaders?

In the context of product characteristics and the rate of adoption, which of the following statements is true of complexity?

In the context of the new-product development process, the decision to market a product is made during _____.

Unlike the growth stage of the product life cycle, in the introductory stage, emphasis switches from primary demand promotion to aggressive brand advertising and communication of the differences between brands.

Marketing costs are high in the introductory stage of the product life cycle because:

During the maturity stage of the product life cycle, new users can be added indefinitely.

In the context of diffusion of innovation, the dominant value of laggards is _____.

Which of the following is a characteristic of products produced by multinational corporations?

In which of the following ways does the concept of product life cycle (PLC) help marketing managers?

Nutrioats, an oatmeal cookie product, has been in the market for over seven years. However, the product is now in its decline stage. In this case, which of the following will be a successful strategy to market Nutrioats?

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

Marketing Research

Product Concepts

Services and Nonprofit Organization Marketing

Supply Chain Management and Marketing Channels

Retailing

Marketing Communications

Advertising, Public Relations, and Sales Promotion

Personal Selling and Sales Management

Social Media and Marketing

Pricing Concepts

Filters