Exam 8: Developing and Managing Products and Services

The ________ is a model that proposes that a "chasm" exists between early adopters of a product and the early majority.

Why might ad expenditures remain high in the growth stage of the PLC?

Product planners consider products and services on three levels. The most basic level is the ________, which addresses the question, "What is the buyer really buying?"

________ are a form of product that consists of activities, benefits, or satisfactions offered for sale that are essentially intangible and do not result in the ownership of anything.

Mabel Lu is planning to buy a new washing machine. She notices that they come in numerous price ranges. She wants to make sure she gets the most for her money. This product is a(n)________ product.

The marketing strategy statement describes the target market; the planned product positioning; and goals for sales, profits, and ________.

When sales of a product falter during the PLC, a company can take several approaches. The more common ones are to modify the marketing mix, modify the product, or modify the market.

In which stage of the typical consumer product life cycle do sales growth level off?

Your company decides to use external sources for developing new product ideas. Which of the following would be consulted?

You have recently sent a proposal for a fictional novel to an editor at a major publishing firm. The editor, alone, will carry out the idea screening. Why might you feel this process is unfair?

Companies need to pay attention to their aging products. Management should regularly review sales, market shares, costs, and profit trends, and then decide whether to maintain, harvest, or drop these declining products.

Describe the role of packaging.

In which stage of the PLC would promotional expenditures most likely increase as a company attempts to react to increasing competition?

An example of service variability is that within a given Marriott hotel, one registration-desk employee may be cheerful and efficient, whereas another may be unpleasant and slow.

The impossibility of a barber storing haircuts for later sale is an example of which of the following?

An attractive idea must be developed into a ________.

Which term best describes the following statement? "Campbell's products are highly uniform in that they perform similar functions for buyers and are available via the same distribution channels."

After concept testing, a firm would engage in which stage in developing and marketing a new product?

During the introduction stage, a company that acts as a market pioneer should execute a launch strategy that is part of a marketing plan for the product's entire life cycle.

One aspect of managing service differentiation is the company's service delivery.