Exam 11: Product Concepts

Business products are classified into the following seven categories according to characteristics and intended uses: raw materials, installations, accessory equipment, component parts, process materials, business services, and

Electronics Pro is a company that manufactures CD drives for laptop computers which are sold to major computer producers. Electronics Pro realizes that CD drives are most likely in the decline stage of the product life cycle. What are the two options this company has with regard to its CD drive product?

One of the most common reasons new products fail is because of a company's failure to match product offerings to customer needs.

The stage of the product life cycle when marketers consider eliminating products that are not contributing to profitability or the overall effectiveness of a product mix is the ____ stage.

Which of the following is the most typical example of a new product introduction?

Byron is interested in buying an antique vase for his grandmother's birthday. He visits an antique store and buys the first vase he sees because it is something he thinks his grandmother would like. Byron does not visit another store and compare other vases. For Byron, this purchase is most likely considered a(an) _____ good.

Although they become part of a larger product, ____ can often be easily identified and distinguished on the larger product.

The width of a product mix is measured by the number of product

Products used directly in the production of a final product but are not easily identifiable are categorized as

Which of the following best defines the interest stage in the product adoption process?

Minerals, chemicals, timber, and agricultural products are considered

While Alec's grandfather still prefers using a land line, he just bought his first cell phone. Alec's grandfather is most likely oriented toward the past and is a member of the ____ group.

All of the following are reasons why new products fail except

Weyerhaeuser is evaluating its complete product mix. It wishes to decrease some of its marketing expenditures and streamline its product offerings. Weyerhaeuser will most likely look at products in the ____ stage of the product life cycle as possibilities for elimination.

Buyers want to exert only minimal effort to obtain shopping products.

Distribution outlets become more difficult to secure during the growth stage of a product's life cycle because of aggressive competition.

The gross margin percentage on convenience goods is usually fairly high because they are low-priced items.

What is a product?

A product line is a particular version of a product that can be designated as a distinct offering on the organization's list of products.

Early adopters are the first group of consumers to adopt a new product.