Question 1

In the context of new-product development and the balance of market needs and company resources,marketing managers must generally

Accepted Answer

A) recognize that new-product projects need to meet ROI goals. 
B) have various departments independently evaluate the feasibility of new ideas. 
C) develop marketing plans for goods that can't currently be produced profitably. 
D) place a product in the market quickly and not wait for a marketing plan. 
E) focus on satisfying customer needs,even if it means taking a loss. 
A) recognize that new-product projects need to meet ROI goals. 
B) have various departments independently evaluate the feasibility of new ideas. 
C) develop marketing plans for goods that can't currently be produced profitably. 
D) place a product in the market quickly and not wait for a marketing plan. 
E) focus on satisfying customer needs,even if it means taking a loss.

Question 2

When a large firm has several different kinds of products,product managers or brand managers may be put in charge of each one.

Accepted Answer

A) True 
 B)False

Question 3

If you are seeking new-product ideas for your business,your ________ are a good source.

Accepted Answer

A) intermediaries 
B) customers 
C) production people 
D) salespeople 
E) All these answers are correct. 
A) intermediaries 
B) customers 
C) production people 
D) salespeople 
E) All these answers are correct.

Question 4

Product life cycles describe industry sales and profits within a particular product-market,and not the sales and profits of individual brands.

Accepted Answer

A) True 
 B)False

Question 5

A continuous innovation requires significant change in customer behavior.

Accepted Answer

A) True 
 B)False

Question 6

3-D televisions are new products in the U.S.market.They are in the ________ stage of the product life cycle.

Accepted Answer

A) market maturity 
B) market introduction 
C) market growth 
D) sales decline 
A) market maturity 
B) market introduction 
C) market growth 
D) sales decline

Question 7

The shape,length,and current stage of a product life cycle may vary depending on

Accepted Answer

A) how the market is defined. 
B) the nature of the competition. 
C) the nature of the products involved. 
D) All these answers are correct. 
A) how the market is defined. 
B) the nature of the competition. 
C) the nature of the products involved. 
D) All these answers are correct.

Question 8

Getting reactions from customers about how well a new-product idea fits their needs is called

Accepted Answer

A) concept testing. 
B) target marketing. 
C) screening. 
D) brand positioning. 
E) product liability. 
A) concept testing. 
B) target marketing. 
C) screening. 
D) brand positioning. 
E) product liability.

Question 9

Which of the following is an example of a new product?

Accepted Answer

A) an existing product that has been modified in some way 
B) an existing product for which new uses have been found in other product markets 
C) a wholly new product idea 
D) an existing product being offered to new markets 
E) All these answers are correct. 
A) an existing product that has been modified in some way 
B) an existing product for which new uses have been found in other product markets 
C) a wholly new product idea 
D) an existing product being offered to new markets 
E) All these answers are correct.

Question 10

Which statement about products in the sales decline stage of the product life cycle is true?

Accepted Answer

A) Brand managers should phase out this product as quickly as possible. 
B) A declining product may still be profitable for some time and it might be more appropriate to phase out this product gradually. 
C) Customers will always abandon the declining product immediately if an alternative is available. 
D) Phasing out a product at this time is fairly easy,and this strategy will cut future losses. 
E) None of these statements is true. 
A) Brand managers should phase out this product as quickly as possible. 
B) A declining product may still be profitable for some time and it might be more appropriate to phase out this product gradually. 
C) Customers will always abandon the declining product immediately if an alternative is available. 
D) Phasing out a product at this time is fairly easy,and this strategy will cut future losses. 
E) None of these statements is true.

Question 11

E-commerce jewelry retailer SparklesNow announces a contest,inviting its regular online members to submit contemporary jewelry designs.Winning designs and entries are chosen based on ratings and comments from other members.SparklesNow is using ________ to get new ideas from customers.

Accepted Answer

A) crowdsourcing 
B) creative resourcing 
C) reverse engineering 
D) an idea roll-out 
E) idea magnets 
A) crowdsourcing 
B) creative resourcing 
C) reverse engineering 
D) an idea roll-out 
E) idea magnets

Question 12

According to the text,a new product is one that is

Accepted Answer

A) physically changed. 
B) unique. 
C) new in any way for the company concerned. 
D) completely new,physically and conceptually. 
E) None of these answers is correct. 
A) physically changed. 
B) unique. 
C) new in any way for the company concerned. 
D) completely new,physically and conceptually. 
E) None of these answers is correct.

Question 13

Product managers or brand managers are most often found in firms with only one or a few related products.

Accepted Answer

A) True 
 B)False

Question 14

Which of the following is LEAST related to the product life-cycle pattern?

Accepted Answer

A) sales and profits of a particular individual brand or product in the market 
B) industry sales and profits for a product idea within a particular product-market 
C) growth and subsequent decline of sales for a product category 
D) the impact of increased competition on a new product idea over time 
E) the need for marketers to adjust their marketing mixes for a product category 
A) sales and profits of a particular individual brand or product in the market 
B) industry sales and profits for a product idea within a particular product-market 
C) growth and subsequent decline of sales for a product category 
D) the impact of increased competition on a new product idea over time 
E) the need for marketers to adjust their marketing mixes for a product category

Question 15

Kelly Drake,marketing manager for Find-Ur-Way global positioning systems,is testing the marketing mix for one of her company's new products.The product was introduced in two different markets with different prices and packages.This suggests the new product is in the ________ step of the new-product development process.

Accepted Answer

A) commercialization 
B) idea evaluation 
C) screening 
D) development 
E) idea generation 
A) commercialization 
B) idea evaluation 
C) screening 
D) development 
E) idea generation

Question 16

During the various stages of the product life cycle,the attitudes and needs of target customers do not change.

Accepted Answer

A) True 
 B)False

Question 17

The new-product development process

Accepted Answer

A) is based on the idea that a firm should eliminate potentially unprofitable product ideas as early as possible. 
B) seeks to take as many ideas to market as possible,hoping to find a breakthrough opportunity. 
C) relies solely on test marketing to decide whether to drop an idea or take it to market. 
D) is especially important because it increases the number of new-product ideas that get to the commercialization stage. 
E) None of these answers is correct. 
A) is based on the idea that a firm should eliminate potentially unprofitable product ideas as early as possible. 
B) seeks to take as many ideas to market as possible,hoping to find a breakthrough opportunity. 
C) relies solely on test marketing to decide whether to drop an idea or take it to market. 
D) is especially important because it increases the number of new-product ideas that get to the commercialization stage. 
E) None of these answers is correct.

Question 18

Which of the following is a useful plan during the market maturity stage of the product life cycle?

Accepted Answer

A) Disregard changes in customer behavior. 
B) Slash product prices to maintain market share. 
C) Eliminate points of differentiation to increase market share. 
D) Phase out products for more market penetration. 
E) Disregard all forms of competitor behavior. 
A) Disregard changes in customer behavior. 
B) Slash product prices to maintain market share. 
C) Eliminate points of differentiation to increase market share. 
D) Phase out products for more market penetration. 
E) Disregard all forms of competitor behavior.

Question 19

The Consumer Product Safety Commission can

Accepted Answer

A) back up its orders with jail sentences. 
B) set safety standards for products. 
C) back up its orders with fines. 
D) order the return of "unsafe products." 
E) All these answers are correct. 
A) back up its orders with jail sentences. 
B) set safety standards for products. 
C) back up its orders with fines. 
D) order the return of "unsafe products." 
E) All these answers are correct.

Question 20

If a producer does not have a new-product development process,it ultimately means that the firm

Accepted Answer

A) lacks financial resources. 
B) does not want to be profitable. 
C) will survive on current products until going out of business. 
D) is incapable of innovation. 
E) can survive on old products indefinitely. 
A) lacks financial resources. 
B) does not want to be profitable. 
C) will survive on current products until going out of business. 
D) is incapable of innovation. 
E) can survive on old products indefinitely.

In the context of new-product development and the balance of market needs and company resources,marketing managers must generally

When a large firm has several different kinds of products,product managers or brand managers may be put in charge of each one.

If you are seeking new-product ideas for your business,your ________ are a good source.

Product life cycles describe industry sales and profits within a particular product-market,and not the sales and profits of individual brands.

A continuous innovation requires significant change in customer behavior.

3-D televisions are new products in the U.S.market.They are in the ________ stage of the product life cycle.

The shape,length,and current stage of a product life cycle may vary depending on

Getting reactions from customers about how well a new-product idea fits their needs is called

Which of the following is an example of a new product?

Which statement about products in the sales decline stage of the product life cycle is true?

E-commerce jewelry retailer SparklesNow announces a contest,inviting its regular online members to submit contemporary jewelry designs.Winning designs and entries are chosen based on ratings and comments from other members.SparklesNow is using ________ to get new ideas from customers.

According to the text,a new product is one that is

Product managers or brand managers are most often found in firms with only one or a few related products.

Which of the following is LEAST related to the product life-cycle pattern?

During the various stages of the product life cycle,the attitudes and needs of target customers do not change.

The new-product development process

Which of the following is a useful plan during the market maturity stage of the product life cycle?

The Consumer Product Safety Commission can

If a producer does not have a new-product development process,it ultimately means that the firm

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Market Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Filters

Exam 9: Product Management and New-Product Development

In the context of new-product development and the balance of market needs and company resources,marketing managers must generally

When a large firm has several different kinds of products,product managers or brand managers may be put in charge of each one.

If you are seeking new-product ideas for your business,your ________ are a good source.

Product life cycles describe industry sales and profits within a particular product-market,and not the sales and profits of individual brands.

A continuous innovation requires significant change in customer behavior.

3-D televisions are new products in the U.S.market.They are in the ________ stage of the product life cycle.

The shape,length,and current stage of a product life cycle may vary depending on

Getting reactions from customers about how well a new-product idea fits their needs is called

Which of the following is an example of a new product?

Which statement about products in the sales decline stage of the product life cycle is true?

E-commerce jewelry retailer SparklesNow announces a contest,inviting its regular online members to submit contemporary jewelry designs.Winning designs and entries are chosen based on ratings and comments from other members.SparklesNow is using ________ to get new ideas from customers.

According to the text,a new product is one that is

Product managers or brand managers are most often found in firms with only one or a few related products.

Which of the following is LEAST related to the product life-cycle pattern?

During the various stages of the product life cycle,the attitudes and needs of target customers do not change.

The new-product development process

Which of the following is a useful plan during the market maturity stage of the product life cycle?

The Consumer Product Safety Commission can

If a producer does not have a new-product development process,it ultimately means that the firm

Marketings Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Market Environment

Focusing Marketing Strategy With Segmentation and Positioning

Final Consumers and Their Buying Behavior

Business and Organizational Customers and Their Buying Behavior

Improving Decisions With Marketing Information

Elements of Product Planning for Goods and Services

Place and Development of Channel Systems

Distribution Customer Service and Logistics

Retailers, Wholesalers, and Their Strategy Planning

Promotionintroduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising and Sales Promotion

Publicity: Promotion Using Earned Media, Owned Media, and Social Media

Pricing Objectives and Policies

Price Setting in the Business World

Ethical Marketing in a Consumer-Oriented World: Appraisal and Challenges

Filters