Question 1

The use of small-group sessions which are designed to come up with a variety of ideas for new products is

Accepted Answer

A)  pure research. 
B)  concept testing. 
C)  applied research. 
D)  brainstorming. 
A)  pure research. 
B)  concept testing. 
C)  applied research. 
D)  brainstorming.

Question 2

A major criticism of the product life-cycle concept is the

Accepted Answer

A)  difficulty in varying a firm's strategy to meet objectives for each stage. 
B)  inability to manage the life-cycle concept. 
C)  difficulty in forecasting the cycle. 
D)  inevitability of maturity. 
A)  difficulty in varying a firm's strategy to meet objectives for each stage. 
B)  inability to manage the life-cycle concept. 
C)  difficulty in forecasting the cycle. 
D)  inevitability of maturity.

Question 3

Which statement about the evaluation of the product life cycle is NOT correct?

Accepted Answer

A)  A firm can manage the product life cycle through developing an appropriate marketing mix. 
B)  It may be difficult to forecast a product's life-cycle shape. 
C)  Different firms may have similar products in different stages of the product life cycle. 
D)  It is virtually impossible to reverse a decline in sales once a product has reached maturity. 
A)  A firm can manage the product life cycle through developing an appropriate marketing mix. 
B)  It may be difficult to forecast a product's life-cycle shape. 
C)  Different firms may have similar products in different stages of the product life cycle. 
D)  It is virtually impossible to reverse a decline in sales once a product has reached maturity.

Question 4

Market-oriented sources seek to identify opportunities on the basis of

Accepted Answer

A)  an analysis of competitive offerings. 
B)  conducting pure or applied scientific research. 
C)  an analysis of consumer wants and needs. 
D)  performing minor modifications of existing products. 
A)  an analysis of competitive offerings. 
B)  conducting pure or applied scientific research. 
C)  an analysis of consumer wants and needs. 
D)  performing minor modifications of existing products.

Question 5

Which of these is NOT a valid reason for a firm's deleting its seven-year-old line of ready-to-assemble furniture?

Accepted Answer

A)  A major retailer customer has just dropped the line in favor of a competitor's. 
B)  This product line casts a poor image on the entire firm. 
C)  Long-term sales and profit prospects in this product line are poor. 
D)  The furniture line requires disproportionately large amounts of management time. 
A)  A major retailer customer has just dropped the line in favor of a competitor's. 
B)  This product line casts a poor image on the entire firm. 
C)  Long-term sales and profit prospects in this product line are poor. 
D)  The furniture line requires disproportionately large amounts of management time.

Question 6

Discuss three major reasons that lead to absolute or relative new-product failure. How can these problems be avoided?

Accepted Answer

There are several reasons that lead to n

Question 7

Brainstorming among channel members for new product ideas is an example of a laboratory-oriented source.

Accepted Answer

A) True 
 B)False

Question 8

Which statement concerning patents is NOT correct?

Accepted Answer

A)  The standard patent protection period in the United States is 20 years from the date the application is filed. 
B)  A patent grants its owner exclusive selling rights for an indefinite period. 
C)  Many countries have simplified patent protection via patent cooperation treaties. 
D)  Separate patent applications are needed for protection in foreign countries. 
A)  The standard patent protection period in the United States is 20 years from the date the application is filed. 
B)  A patent grants its owner exclusive selling rights for an indefinite period. 
C)  Many countries have simplified patent protection via patent cooperation treaties. 
D)  Separate patent applications are needed for protection in foreign countries.

Question 9

A product can be both an absolute and a relative product failure.

Accepted Answer

A) True 
 B)False

Question 10

A tire manufacturer seeking to increase the rate of adoption for a new tire with superior handling characteristics in wet weather should

Accepted Answer

A)  use advertising to appeal to low-income consumers. 
B)  describe the purchase of tires as being important. 
C)  stress that the product is a modification over a successful tire and not a major innovation. 
D)  show that the product represents high risk. 
A)  use advertising to appeal to low-income consumers. 
B)  describe the purchase of tires as being important. 
C)  stress that the product is a modification over a successful tire and not a major innovation. 
D)  show that the product represents high risk.

Question 11

a.	Discuss the advantages of prolonging the sales of a mature product versus investing similar monies in a new product?
b. Under what circumstances should a firm attempt to delete (rather than revive) a product? How should current users and current channel members be treated in a product deletion decision?

Accepted Answer

a. The advantages of prolonging the sale

Question 12

A new product's actual sales performance is measured in

Accepted Answer

A)  business analysis. 
B)  concept testing. . 
C)  test marketing. 
D)  commercialization 
A)  business analysis. 
B)  concept testing. . 
C)  test marketing. 
D)  commercialization

Question 13

Prepare an outline for a business analysis of a proposed portable mattress that can be inflated using a self-contained air compressor. The mattress is positioned at apartment and homeowners that want to house temporary guests. This mattress is made of inflatable plastic. It can be stored in a basement, closet, or even underneath a bed. A preliminary price of the mattress is $99 retail, $49 wholesale. The manufacturer plans to produce each unit at a cost of $25.

Accepted Answer

Executive Summary
- Introduction to the

Question 14

The early majority stage of the diffusion process corresponds to the growth stage of the product life cycle.

Accepted Answer

A) True 
 B)False

Question 15

A fad product life-cycle curve represents a product with quick popularity and a sudden decline.

Accepted Answer

A) True 
 B)False

Question 16

In general, as a firm goes through the new-product planning process,

Accepted Answer

A)  a higher proportion of the products are weeded out in each stage. 
B)  lower-level executives are involved in decision making. 
C)  the evaluation of products is done more scientifically. 
D)  the costs associated with the new-product planning process stage increase. 
A)  a higher proportion of the products are weeded out in each stage. 
B)  lower-level executives are involved in decision making. 
C)  the evaluation of products is done more scientifically. 
D)  the costs associated with the new-product planning process stage increase.

Question 17

Too long a test market can result in an innovating firm entering commercialization after a noninnovating firm.

Accepted Answer

A) True 
 B)False

Question 18

The diffusion process describes the procedure an individual goes through in learning about and purchasing a new product.

Accepted Answer

A) True 
 B)False

Question 19

Among the causes of new-product failure are lack of a differential advantage, poor timing, and excessive enthusiasm by the product sponsor.

Accepted Answer

A) True 
 B)False

Question 20

With a self-fulfilling prophecy, a firm incorrectly

Accepted Answer

A)  seeks out the largest, but most competitive, market segment. 
B)  assesses its ability to reverse a downward sales pattern. 
C)  removes marketing support from a product that requires additional support to grow. 
D)  seeks out an incorrect international market. 
A)  seeks out the largest, but most competitive, market segment. 
B)  assesses its ability to reverse a downward sales pattern. 
C)  removes marketing support from a product that requires additional support to grow. 
D)  seeks out an incorrect international market.

The use of small-group sessions which are designed to come up with a variety of ideas for new products is

A major criticism of the product life-cycle concept is the

Which statement about the evaluation of the product life cycle is NOT correct?

Market-oriented sources seek to identify opportunities on the basis of

Which of these is NOT a valid reason for a firm's deleting its seven-year-old line of ready-to-assemble furniture?

Discuss three major reasons that lead to absolute or relative new-product failure. How can these problems be avoided?

Brainstorming among channel members for new product ideas is an example of a laboratory-oriented source.

Which statement concerning patents is NOT correct?

A product can be both an absolute and a relative product failure.

A tire manufacturer seeking to increase the rate of adoption for a new tire with superior handling characteristics in wet weather should

A new product's actual sales performance is measured in

The early majority stage of the diffusion process corresponds to the growth stage of the product life cycle.

A fad product life-cycle curve represents a product with quick popularity and a sudden decline.

In general, as a firm goes through the new-product planning process,

Too long a test market can result in an innovating firm entering commercialization after a noninnovating firm.

The diffusion process describes the procedure an individual goes through in learning about and purchasing a new product.

Among the causes of new-product failure are lack of a differential advantage, poor timing, and excessive enthusiasm by the product sponsor.

With a self-fulfilling prophecy, a firm incorrectly

Marketing Today

The Environment in Which Marketing Operates

Developing and Enacting Strategic Marketing Plans

Information for Marketing Decisions

Societal, Ethical, and Consumer Issues

Global Aspects of Marketing

Marketing and the Internet

Final Consumers

Organizational Consumers

Developing a Target Market Strategy

Basic Concepts in Product Planning

Goods Versus Services Marketing

Value Chain Management and Logistics

Wholesaling

Retailing

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Considerations in Price Planning

Developing and Applying a Pricing Strategy

Pulling It All Together: Integrating and Analyzing the Marketing Plan

Filters

Exam 13: Conceiving, Developing, and Managing Products

The use of small-group sessions which are designed to come up with a variety of ideas for new products is

A major criticism of the product life-cycle concept is the

Which statement about the evaluation of the product life cycle is NOT correct?

Market-oriented sources seek to identify opportunities on the basis of

Which of these is NOT a valid reason for a firm's deleting its seven-year-old line of ready-to-assemble furniture?

Discuss three major reasons that lead to absolute or relative new-product failure. How can these problems be avoided?

Brainstorming among channel members for new product ideas is an example of a laboratory-oriented source.

Which statement concerning patents is NOT correct?

A product can be both an absolute and a relative product failure.

A tire manufacturer seeking to increase the rate of adoption for a new tire with superior handling characteristics in wet weather should

A new product's actual sales performance is measured in

The early majority stage of the diffusion process corresponds to the growth stage of the product life cycle.

A fad product life-cycle curve represents a product with quick popularity and a sudden decline.

In general, as a firm goes through the new-product planning process,

Too long a test market can result in an innovating firm entering commercialization after a noninnovating firm.

The diffusion process describes the procedure an individual goes through in learning about and purchasing a new product.

Among the causes of new-product failure are lack of a differential advantage, poor timing, and excessive enthusiasm by the product sponsor.

With a self-fulfilling prophecy, a firm incorrectly

Marketing Today

The Environment in Which Marketing Operates

Developing and Enacting Strategic Marketing Plans

Information for Marketing Decisions

Societal, Ethical, and Consumer Issues

Global Aspects of Marketing

Marketing and the Internet

Final Consumers

Organizational Consumers

Developing a Target Market Strategy

Basic Concepts in Product Planning

Goods Versus Services Marketing

Value Chain Management and Logistics

Wholesaling

Retailing

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Considerations in Price Planning

Developing and Applying a Pricing Strategy

Pulling It All Together: Integrating and Analyzing the Marketing Plan

Filters