Exam 13: Conceiving, Developing, and Managing Products

A firm would first identify its basic marketing strategy including packaging, branding, and product positioning in the product development stage of the new-product planning process.

Demand and cost projections, competition, and profitability are carefully studied in which new-product planning stage?

The product development stage of the new-product planning process is characterized by the

If proper marketing efforts are employed, all mature products can be revitalized or have their mature product life-cycle stage extended.

Develop a marketing strategy for an appliance manufacturer whose primary product, refrigerators, is in the maturity stage of the product life cycle.

The basic means of analysis in the product screening stage is a

Products that reach the late majority and laggard segments are in the maturity phase of the product life cycle.

Innovators are the first part of the mass market to buy a new product.

Many firms with single products or with narrow product mixes seek new products to reduce risk through a focused or specialized product mix.

Innovators, early adopters, and laggards are studied as part of which process?

The last group of consumers to purchase a new product are

Which statement concerning the product life cycle is NOT correct?

During what stage of the new-product planning process does a firm implement its entire marketing program?

In absolute product failure, a new product

Competition is at its highest level in the growth stage of the product life cycle.

Mature products can be used as cash cows to support investments in other products.

In the decline stage of the product life cycle, a firm needs to decide whether it should cut back resources, attempt to revive the product, or terminate marketing a product.

Which attributes are an important part of the product screening checklis?

A firm can often introduce a new product faster via acquisitions or licensing arrangements than via internal product development.

French perfume, blue blazers, and Scotch whiskey are products that have sold well over a long time period. They illustrate which product life-cycle pattern?