Question 1

Which of the following is a common reason for new product failure?

Accepted Answer

A)  incorrect estimation of the market size 
B)  low product development costs 
C)  ineffective social marketing campaigns 
D)  low selling prices of products 
E)  patent ownership exclusively held by the company 
A)  incorrect estimation of the market size 
B)  low product development costs 
C)  ineffective social marketing campaigns 
D)  low selling prices of products 
E)  patent ownership exclusively held by the company

Question 2

In the concept development stage, a firm will create a single product concept to test.

Accepted Answer

A) True 
 B)False

Question 3

GreenTree Lawn and Garden Products is engaged in marketing strategy development. The first part of the marketing strategy statement created by management should outline the product's planned price, distribution, and marketing budget for the first year.

Accepted Answer

A) True 
 B)False

Question 4

Some products that have entered the decline stage have been cycled back to the growth stage through ________.

Accepted Answer

A)  repositioning 
B)  harvesting 
C)  maintaining 
D)  pruning 
E)  expanding 
A)  repositioning 
B)  harvesting 
C)  maintaining 
D)  pruning 
E)  expanding

Question 5

The international growth of many professional and business services such as accounting, consulting, and advertising led to the globalization of the client companies they served.

Accepted Answer

A) True 
 B)False

Question 6

Flurrbies, a brand of unique winter accessories that quickly fell in and out of favor with customers, is an example of a ________.

Accepted Answer

A)  style 
B)  fashion 
C)  fad 
D)  norm 
E)  subculture 
A)  style 
B)  fashion 
C)  fad 
D)  norm 
E)  subculture

Question 7

What elements may help to create a product image?

Accepted Answer

A product image is the way consumers per

Question 8

According to the commercialization stage of the new product development process, following the decision to introduce the new product at a particular time, a company must next decide ________.

Accepted Answer

A)  where to launch the new product 
B)  how to launch the new product 
C)  why to launch the new product 
D)  what pricing strategies to implement 
E)  what marketing mix elements to use 
A)  where to launch the new product 
B)  how to launch the new product 
C)  why to launch the new product 
D)  what pricing strategies to implement 
E)  what marketing mix elements to use

Question 9

When Kraft focused on cost cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.

Accepted Answer

A)  extend 
B)  modify 
C)  drop 
D)  harvest 
E)  analyze 
A)  extend 
B)  modify 
C)  drop 
D)  harvest 
E)  analyze

Question 10

Most products in the marketplace are in the ________ stage of the product life cycle.

Accepted Answer

A)  growth 
B)  decline 
C)  maturity 
D)  introduction 
E)  development 
A)  growth 
B)  decline 
C)  maturity 
D)  introduction 
E)  development

Question 11

Introducing a new product into the market is called ________.

Accepted Answer

A)  test marketing 
B)  simulation 
C)  co-marketing 
D)  commercialization 
E)  segmentation 
A)  test marketing 
B)  simulation 
C)  co-marketing 
D)  commercialization 
E)  segmentation

Question 12

Explain how the PLC applies differently to a product class than to a product form.

Accepted Answer

Product classes have

Question 13

GreenTree Lawn and Garden Products is engaged in a review of the sales, costs, and profit projections for some new products to find out whether they satisfy the company's objectives. This activity is called business product development.

Accepted Answer

A) True 
 B)False

Question 14

A company launching a new product into the market must first decide where to launch the product.

Accepted Answer

A) True 
 B)False

Question 15

Starbucks introduced a less-than-perfect mobile payments app, then worked out the flaws after the launch. The company chose speed to market over a perfect app at introduction. This illustrates ________.

Accepted Answer

A)  why many companies engage in crowdsourcing 
B)  the influence of fast-changing market developments 
C)  why prototypes are so important 
D)  how idea screening can make a product a commercial success 
E)  the importance of different sources for idea generation 
A)  why many companies engage in crowdsourcing 
B)  the influence of fast-changing market developments 
C)  why prototypes are so important 
D)  how idea screening can make a product a commercial success 
E)  the importance of different sources for idea generation

Question 16

A ________ is the way consumers perceive an actual or potential product.

Accepted Answer

A)  product idea 
B)  product concept 
C)  product image 
D)  brand personality 
E)  concept test 
A)  product idea 
B)  product concept 
C)  product image 
D)  brand personality 
E)  concept test

Question 17

Why might individual departments prefer sequential product development?

Accepted Answer

This process allows each individual depa

Question 18

A company getting ready to launch a new product must make several decisions. The company must first decide on ________.

Accepted Answer

A)  whether to launch the product in a single location 
B)  whether to launch the product in a region 
C)  whether to launch the product into full national distribution 
D)  when to introduce the product 
E)  when to develop a planned market rollout 
A)  whether to launch the product in a single location 
B)  whether to launch the product in a region 
C)  whether to launch the product into full national distribution 
D)  when to introduce the product 
E)  when to develop a planned market rollout

Question 19

Describe three public policy issues or regulations that marketers should carefully consider as they make decisions about adding or dropping products.

Accepted Answer

The government may prevent companies fro

Question 20

Which of the following is NOT likely to be a question asked in the new product screening process?

Accepted Answer

A)  Is there a real need and desire for the product? 
B)  Is there a clear product concept? 
C)  Does the product offer a sustainable advantage? 
D)  How many items will the company sell in the first two years? 
E)  Does the product fit the company's overall growth strategy? 
A)  Is there a real need and desire for the product? 
B)  Is there a clear product concept? 
C)  Does the product offer a sustainable advantage? 
D)  How many items will the company sell in the first two years? 
E)  Does the product fit the company's overall growth strategy?

Which of the following is a common reason for new product failure?

In the concept development stage, a firm will create a single product concept to test.

GreenTree Lawn and Garden Products is engaged in marketing strategy development. The first part of the marketing strategy statement created by management should outline the product's planned price, distribution, and marketing budget for the first year.

Some products that have entered the decline stage have been cycled back to the growth stage through ________.

The international growth of many professional and business services such as accounting, consulting, and advertising led to the globalization of the client companies they served.

Flurrbies, a brand of unique winter accessories that quickly fell in and out of favor with customers, is an example of a ________.

What elements may help to create a product image?

According to the commercialization stage of the new product development process, following the decision to introduce the new product at a particular time, a company must next decide ________.

When Kraft focused on cost cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.

Most products in the marketplace are in the ________ stage of the product life cycle.

Introducing a new product into the market is called ________.

Explain how the PLC applies differently to a product class than to a product form.

GreenTree Lawn and Garden Products is engaged in a review of the sales, costs, and profit projections for some new products to find out whether they satisfy the company's objectives. This activity is called business product development.

A company launching a new product into the market must first decide where to launch the product.

Starbucks introduced a less-than-perfect mobile payments app, then worked out the flaws after the launch. The company chose speed to market over a perfect app at introduction. This illustrates ________.

A ________ is the way consumers perceive an actual or potential product.

Why might individual departments prefer sequential product development?

A company getting ready to launch a new product must make several decisions. The company must first decide on ________.

Describe three public policy issues or regulations that marketers should carefully consider as they make decisions about adding or dropping products.

Which of the following is NOT likely to be a question asked in the new product screening process?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters

Exam 9: Developing New Products and Managing the Product Life Cycle

Which of the following is a common reason for new product failure?

In the concept development stage, a firm will create a single product concept to test.

GreenTree Lawn and Garden Products is engaged in marketing strategy development. The first part of the marketing strategy statement created by management should outline the product's planned price, distribution, and marketing budget for the first year.

Some products that have entered the decline stage have been cycled back to the growth stage through ________.

The international growth of many professional and business services such as accounting, consulting, and advertising led to the globalization of the client companies they served.

Flurrbies, a brand of unique winter accessories that quickly fell in and out of favor with customers, is an example of a ________.

What elements may help to create a product image?

According to the commercialization stage of the new product development process, following the decision to introduce the new product at a particular time, a company must next decide ________.

When Kraft focused on cost cutting with its older, established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.

Most products in the marketplace are in the ________ stage of the product life cycle.

Introducing a new product into the market is called ________.

Explain how the PLC applies differently to a product class than to a product form.

GreenTree Lawn and Garden Products is engaged in a review of the sales, costs, and profit projections for some new products to find out whether they satisfy the company's objectives. This activity is called business product development.

A company launching a new product into the market must first decide where to launch the product.

Starbucks introduced a less-than-perfect mobile payments app, then worked out the flaws after the launch. The company chose speed to market over a perfect app at introduction. This illustrates ________.

A ________ is the way consumers perceive an actual or potential product.

Why might individual departments prefer sequential product development?

A company getting ready to launch a new product must make several decisions. The company must first decide on ________.

Describe three public policy issues or regulations that marketers should carefully consider as they make decisions about adding or dropping products.

Which of the following is NOT likely to be a question asked in the new product screening process?

Marketing: Creating Customer Value and Engagement

Company and Marketing Strategy: Partnering to Build Customer Engagement, Value, and Relationships

Analyzing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Buyer Behavior

Business Markets and Business Buyer Behavior

Customer Value-Driven Marketing Strategy: Creating Value for Target Customers

Products, Services, and Brands: Building Customer Value

Pricing: Understanding and Capturing Customer Value

Pricing Strategies: Additional Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Engaging Consumers and Communicating Customer Value: Integrated Marketing Communications Strategy

Advertising and Public Relations

Personal Selling and Sales Promotion

Direct, Online, Social Media, and Mobile Marketing

Creating Competitive Advantage

The Global Marketplace

Sustainable Marketing: Social Responsibility and Ethics

Filters