Exam 11: Product Concepts

A set of Bose car speakers sold to Ford for use in the production of a hybrid Escape,would be an example of a(n)

A seller's profits peak in the maturity stage of a product's life cycle.

Sellers can sometimes prolong a product's life cycle.

Obtaining a specialty product involves a considerable amount of comparison activity.

When a successful brand such as Frito-Lay develops a new product,it will always succeed.

Business products are

If a company repositions a relative product failure,that product might become a successful member of the product line.

Energizer batteries would be classified as which type of product?

An individual knows that a product exists,but has little information regarding the product and does not seek additional information.In what stage of the product adoption process is that person?

Unfinished furniture is considered to be a convenience product because it is relatively inexpensive.

When an individual considers whether a product will meet certain criteria that are critical for meeting his or her needs,in what stage of the product adoption process is this individual?

Scenario 11.2 Use the following to answer the questions. Megabus is a bus line operating in the Northeast and Midwestern United States,plus in Canada.It offers travelers a cheap alternative to driving and flying between large cities,keeping the fares extremely low yet offering the latest technology.Unlike the traditional Greyhound Lines,Megabus is an express service,and is equipped with Wi-Fi,video screens,headsets,and seat belts.Many buses also run on biodiesel fuel.Additionally,Megabus picks up and drops off people in the centers of cities rather than at inconveniently-located terminals.Patrons can book tickets at Megabus.com,where some fares begin at just $1.Routes are limited,and are offered out of cities such as Toronto,New York,Baltimore,Philadelphia,and Chicago.Recently,its competitor Greyhound,has launched two new bus lines,BoltBus and NeOn,with similar fares and high-tech amenities.A fare on NeOn bus from Buffalo,NY to New York City is $50.00 roundtrip,while the same fare through Greyhound's traditional bus line costs $92.00.The benefit of Greyhound's traditional line is that there are more departure times and more stops in smaller towns along the way. -Refer to Scenario 11.2.When Greyhound launched the BoltBus and NeOn bus lines,this is an example of

Price cuts are typical in a product's growth stage.

Products are classified as being business or consumer products according to the

Communicating product benefits to consumers is very important in the introduction stage.

As the production manager of an engineering firm,you went out and bought a metal cutting machine.What you have purchased can best be classified as a

In which stage of the product life cycle do profits begin to decrease?

Sales peak in a product's maturity stage.

Mercedes recognized it needed to revitalize its brand and attract different market segments.These are indications that Mercedes' products were primarily in the ____ stage of the product life cycle.

Scenario 11.2 Use the following to answer the questions. Megabus is a bus line operating in the Northeast and Midwestern United States,plus in Canada.It offers travelers a cheap alternative to driving and flying between large cities,keeping the fares extremely low yet offering the latest technology.Unlike the traditional Greyhound Lines,Megabus is an express service,and is equipped with Wi-Fi,video screens,headsets,and seat belts.Many buses also run on biodiesel fuel.Additionally,Megabus picks up and drops off people in the centers of cities rather than at inconveniently-located terminals.Patrons can book tickets at Megabus.com,where some fares begin at just $1.Routes are limited,and are offered out of cities such as Toronto,New York,Baltimore,Philadelphia,and Chicago.Recently,its competitor Greyhound,has launched two new bus lines,BoltBus and NeOn,with similar fares and high-tech amenities.A fare on NeOn bus from Buffalo,NY to New York City is $50.00 roundtrip,while the same fare through Greyhound's traditional bus line costs $92.00.The benefit of Greyhound's traditional line is that there are more departure times and more stops in smaller towns along the way. -.Refer to Scenario 11.2.The closest competitor for Megabus is Greyhound Lines.Greyhound Lines has been n business for many years,offering basic transportation services until the introduction of their new BoldBus and NeOn.Even though both companies are in the bus transportation business,Greyhound Lines is most likely in the ____ stage of the product life cycle,while Megabus is in the _____ stage.