Question 1

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

Accepted Answer

A) True 
 B)False

Question 2

A common business objective of the ____ stage of the product life cycle is to generate cash flow.

Accepted Answer

A) maturity 
B) growth 
C) introduction 
D) market reduction 
E) decline 
A) maturity 
B) growth 
C) introduction 
D) market reduction 
E) decline

Question 3

A product line includes a group of closely related product items that are considered to be a unit because of marketing, technical, or end-use considerations.

Accepted Answer

A) True 
 B)False

Question 4

The original marketing strategy should not be altered in any way as a product travels through the stages of the product life cycle because consumers can become confused.

Accepted Answer

A) True 
 B)False

Question 5

Many products are in the maturity stage of the product life cycle.

Accepted Answer

A) True 
 B)False

Question 6

Identify the major stages of the product life cycle, and explain how industry sales and profits vary across these stages.

Accepted Answer

The answer of Identify the major stages of the product...

Question 7

Sellers can sometimes prolong a product's life cycle.

Accepted Answer

A) True 
 B)False

Question 8

The atmosphere and décor of a retail store, the variety and depth of product choices, the customer support, even the sounds and smells all contribute to the experiential element of its total product.

Accepted Answer

A) True 
 B)False

Question 9

The success of launching a new product is based primarily on luck.

Accepted Answer

A) True 
 B)False

Question 10

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.

Accepted Answer

A) maturity 
B) growth 
C) introduction 
D) market testing 
E) decline 
A) maturity 
B) growth 
C) introduction 
D) market testing 
E) decline

Question 11

Identify and describe the major categories of business products.

Accepted Answer

The answer of Identify and describe the major categories of...

Question 12

Convenience products are

Accepted Answer

A) relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort. 
B) frequently purchased items for which buyers are willing to exert considerable effort. 
C) frequently purchased items that are found in certain retail outlets. 
D) items that are expensive but are easy to purchase. 
E) items that require some purchase planning and for which the buyer often will not accept substitutes. 
A) relatively inexpensive, frequently purchased items for which buyers exert only minimal purchasing effort. 
B) frequently purchased items for which buyers are willing to exert considerable effort. 
C) frequently purchased items that are found in certain retail outlets. 
D) items that are expensive but are easy to purchase. 
E) items that require some purchase planning and for which the buyer often will not accept substitutes.

Question 13

Failure of a new product is always absolute.

Accepted Answer

A) True 
 B)False

Question 14

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)

Accepted Answer

A) component part. 
B) specialty item. 
C) accessory equipment. 
D) raw material. 
E) process material. 
A) component part. 
B) specialty item. 
C) accessory equipment. 
D) raw material. 
E) process material.

Question 15

Tojitos Mexican Restaurant purchased several large ovens for use in remodeling its kitchens. These ovens are an example of which type of business product?

Accepted Answer

A) Raw materials 
B) Installations 
C) Accessory equipment 
D) Component parts 
E) Process materials 
A) Raw materials 
B) Installations 
C) Accessory equipment 
D) Component parts 
E) Process materials

Question 16

An ad that stresses "Get the real Proactiv Solution; accept no substitutes!" is best geared for which stage of the product life cycle?

Accepted Answer

A) Introduction 
B) Growth 
C) Stabilization 
D) Expansion 
E) Decline 
A) Introduction 
B) Growth 
C) Stabilization 
D) Expansion 
E) Decline

Question 17

David Wilson is an avid collector of Major League Baseball memorabilia. He greatly desires to own the "special" bat that got the slugger Sammy Sosa a seven-game suspension due to its illegal contents. This is an example of a(n) ____ product.

Accepted Answer

A) shopping 
B) unique 
C) specialty 
D) historical 
E) unsought 
A) shopping 
B) unique 
C) specialty 
D) historical 
E) unsought

Question 18

Marissa, a product manager, thinks her company's InstaCup coffee maker is currently in the growth stage of the product life cycle. If so, the profits for the InstaCup coffee maker ___ and the number of competitors ____.

Accepted Answer

A) are negative; is growing 
B) have peaked; is growing 
C) are declining; is growing 
D) have peaked; is declining 
E) are declining; is declining 
A) are negative; is growing 
B) have peaked; is growing 
C) are declining; is growing 
D) have peaked; is declining 
E) are declining; is declining

Question 19

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

Accepted Answer

A) True 
 B)False

Question 20

A specialty product

Accepted Answer

A) requires minimal effort to purchase. 
B) is purchased frequently. 
C) requires purchase planning, and the buyer will not accept substitutes. 
D) is generally less expensive than other items in the same product class. 
E) prompts the purchaser to make comparisons among alternatives. 
A) requires minimal effort to purchase. 
B) is purchased frequently. 
C) requires purchase planning, and the buyer will not accept substitutes. 
D) is generally less expensive than other items in the same product class. 
E) prompts the purchaser to make comparisons among alternatives.

Exam 11: Product Concepts

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

A common business objective of the ____ stage of the product life cycle is to generate cash flow.

A product line includes a group of closely related product items that are considered to be a unit because of marketing, technical, or end-use considerations.

The original marketing strategy should not be altered in any way as a product travels through the stages of the product life cycle because consumers can become confused.

Many products are in the maturity stage of the product life cycle.

Identify the major stages of the product life cycle, and explain how industry sales and profits vary across these stages.

Sellers can sometimes prolong a product's life cycle.

The atmosphere and décor of a retail store, the variety and depth of product choices, the customer support, even the sounds and smells all contribute to the experiential element of its total product.

The success of launching a new product is based primarily on luck.

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.

Identify and describe the major categories of business products.

Convenience products are

Failure of a new product is always absolute.

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)

Tojitos Mexican Restaurant purchased several large ovens for use in remodeling its kitchens. These ovens are an example of which type of business product?

An ad that stresses "Get the real Proactiv Solution; accept no substitutes!" is best geared for which stage of the product life cycle?

David Wilson is an avid collector of Major League Baseball memorabilia. He greatly desires to own the "special" bat that got the slugger Sammy Sosa a seven-game suspension due to its illegal contents. This is an example of a(n) ____ product.

Marissa, a product manager, thinks her company's InstaCup coffee maker is currently in the growth stage of the product life cycle. If so, the profits for the InstaCup coffee maker ___ and the number of competitors ____.

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

A specialty product

An Overview of Strategic Marketing

Planning Implementing and Evaluating Marketing Strategies

The Marketing Environment

Social Responsibility and Ethics in Marketing

Marketing Research and Information Systems

Target Markets: Segmentation and Evaluation

Consumer Buying Behavior

Business Markets and Buying Behavior

Reaching Global Markets

Digital Marketing and Social Networking

Developing and Managing Products

Services Marketing

Branding and Packaging

Marketing Channels and Supply Chain Management

Retailing, Direct Marketing, and Wholesaling

Integrated Marketing Communications

Advertising and Public Relations

Personal Selling and Sales Promotion

Pricing Concepts

Setting Prices

Filters

Marissa, a product manager, thinks her company's InstaCup coffee maker is currently in the growth stage of the product life cycle. If so, the profits for the InstaCup coffee maker _ and the number of competitors __.