Question 1

Marketing strategy planning for a product depends on where the product is in its life cycle and how fast it is moving to the next stage.

Accepted Answer

A) True 
 B)False

Question 2

It is outside the power of the Consumer Product Safety Commission to

Accepted Answer

A) set safety standards for products. 
B) order repairs of unsafe products. 
C) order returns of unsafe products. 
D) back up its orders with fines and jail sentences. 
E) search for unsafe products in consumers' homes. 
A) set safety standards for products. 
B) order repairs of unsafe products. 
C) order returns of unsafe products. 
D) back up its orders with fines and jail sentences. 
E) search for unsafe products in consumers' homes.

Question 3

A "rollout" happens in the ________ step of the new-product development process.

Accepted Answer

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

Question 4

Product life cycles

Accepted Answer

A) last five years for each product idea. 
B) average 90 days. 
C) are very long for movies. 
D) vary in length but are generally getting shorter. 
E) are identical in length across all geographic regions. 
A) last five years for each product idea. 
B) average 90 days. 
C) are very long for movies. 
D) vary in length but are generally getting shorter. 
E) are identical in length across all geographic regions.

Question 5

Health Care Products Company has noticed that in one of its product-markets,industry sales have leveled off and competition has been tougher than ever.This product-market appears to be in the ________ stage of the product life cycle.

Accepted Answer

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

Question 6

A court rules that a fast-food restaurant has a legal obligation to pay damages to a family whose child was injured when it swallowed an unsafe toy that came in a kids' meal box.Such a legal obligation is called

Accepted Answer

A) consumer compensation. 
B) product liability. 
C) consumer protection. 
D) product quality assurance. 
E) product pleasing. 
A) consumer compensation. 
B) product liability. 
C) consumer protection. 
D) product quality assurance. 
E) product pleasing.

Question 7

In the 1990s,DVDs replaced audiocassettes and floppy disks as the storage media of choice for music and computers.At which stage of the product life cycle is the DVD today?

Accepted Answer

A) market introduction 
B) market growth 
C) market immaturity 
D) sales decline 
E) market extinction 
A) market introduction 
B) market growth 
C) market immaturity 
D) sales decline 
E) market extinction

Question 8

During the market maturity stage of the product life cycle,

Accepted Answer

A) some competitors drop out of the market,and no new firms enter. 
B) persuasive promotion becomes more important. 
C) promotion emphasizes the advantages of the basic product concept. 
D) total industry sales and profits reach their maximum levels. 
E) None of these answers are correct. 
A) some competitors drop out of the market,and no new firms enter. 
B) persuasive promotion becomes more important. 
C) promotion emphasizes the advantages of the basic product concept. 
D) total industry sales and profits reach their maximum levels. 
E) None of these answers are correct.

Question 9

________ refers to a commitment to constantly make things better one step at a time.

Accepted Answer

A) Just-in-time 
B) Ladder approach 
C) Continuous improvement 
D) Production focus 
E) Sales orientation 
A) Just-in-time 
B) Ladder approach 
C) Continuous improvement 
D) Production focus 
E) Sales orientation

Question 10

When building quality into services,managers should

Accepted Answer

A) not focus on training,because people will learn by experience. 
B) watch over employees to make sure they do things right every time. 
C) require employees to check with managers before correcting any problem. 
D) empower employees by giving them the authority to satisfy customer needs. 
E) ensure managerial involvement at all levels of interaction with customers. 
A) not focus on training,because people will learn by experience. 
B) watch over employees to make sure they do things right every time. 
C) require employees to check with managers before correcting any problem. 
D) empower employees by giving them the authority to satisfy customer needs. 
E) ensure managerial involvement at all levels of interaction with customers.

Question 11

Sales and profits generally decrease continually throughout the product life cycle.

Accepted Answer

A) True 
 B)False

Question 12

Cargill,Inc.is finally earning a profit on the unique product it introduced six months ago.Cargill's advertising is both informative and persuasive.Much money is being spent on Place development.There is little price competition,although several competitors have come out with reasonable imitations.Total industry sales and profits are both rising.In which stage of the product life cycle is Cargill operating?

Accepted Answer

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

Question 13

A good marketing manager knows that

Accepted Answer

A) a fashion is the currently accepted or popular style. 
B) the faster fashions change,the harder marketing strategy planning is. 
C) modern technology affects the speed of fashion change. 
D) a fad is even more short-lived than a fashion. 
E) All these answers are correct. 
A) a fashion is the currently accepted or popular style. 
B) the faster fashions change,the harder marketing strategy planning is. 
C) modern technology affects the speed of fashion change. 
D) a fad is even more short-lived than a fashion. 
E) All these answers are correct.

Question 14

The market maturity stage of the product life cycle has very low promotion expenditures,little price competition,and rising industry profits.

Accepted Answer

A) True 
 B)False

Question 15

Relative to most other countries,the U.S.has very strict product liability standards.

Accepted Answer

A) True 
 B)False

Question 16

Total quality management applies when the firm's product is a physical good,but not when it is a service.

Accepted Answer

A) True 
 B)False

Question 17

A high percentage of new-product ideas survive to the commercialization step in the new-product development process.

Accepted Answer

A) True 
 B)False

Question 18

When new product ideas are chosen based on ratings and comments from customers,the process is called

Accepted Answer

A) idea engineering. 
B) creative resourcing. 
C) reaction engineering. 
D) crowdsourcing. 
E) idea solicitation. 
A) idea engineering. 
B) creative resourcing. 
C) reaction engineering. 
D) crowdsourcing. 
E) idea solicitation.

Question 19

In general,top management support is needed for successful new-product development efforts.

Accepted Answer

A) True 
 B)False

Question 20

Product liability means the legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products.

Accepted Answer

A) True 
 B)False

Marketing strategy planning for a product depends on where the product is in its life cycle and how fast it is moving to the next stage.

It is outside the power of the Consumer Product Safety Commission to

A "rollout" happens in the ________ step of the new-product development process.

Product life cycles

Health Care Products Company has noticed that in one of its product-markets,industry sales have leveled off and competition has been tougher than ever.This product-market appears to be in the ________ stage of the product life cycle.

A court rules that a fast-food restaurant has a legal obligation to pay damages to a family whose child was injured when it swallowed an unsafe toy that came in a kids' meal box.Such a legal obligation is called

In the 1990s,DVDs replaced audiocassettes and floppy disks as the storage media of choice for music and computers.At which stage of the product life cycle is the DVD today?

During the market maturity stage of the product life cycle,

________ refers to a commitment to constantly make things better one step at a time.

When building quality into services,managers should

Sales and profits generally decrease continually throughout the product life cycle.

A good marketing manager knows that

The market maturity stage of the product life cycle has very low promotion expenditures,little price competition,and rising industry profits.

Relative to most other countries,the U.S.has very strict product liability standards.

Total quality management applies when the firm's product is a physical good,but not when it is a service.

A high percentage of new-product ideas survive to the commercialization step in the new-product development process.

When new product ideas are chosen based on ratings and comments from customers,the process is called

In general,top management support is needed for successful new-product development efforts.

Product liability means the legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products.

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

Marketing strategy planning for a product depends on where the product is in its life cycle and how fast it is moving to the next stage.

It is outside the power of the Consumer Product Safety Commission to

A "rollout" happens in the ________ step of the new-product development process.

Product life cycles

Health Care Products Company has noticed that in one of its product-markets,industry sales have leveled off and competition has been tougher than ever.This product-market appears to be in the ________ stage of the product life cycle.

A court rules that a fast-food restaurant has a legal obligation to pay damages to a family whose child was injured when it swallowed an unsafe toy that came in a kids' meal box.Such a legal obligation is called

In the 1990s,DVDs replaced audiocassettes and floppy disks as the storage media of choice for music and computers.At which stage of the product life cycle is the DVD today?

During the market maturity stage of the product life cycle,

________ refers to a commitment to constantly make things better one step at a time.

When building quality into services,managers should

Sales and profits generally decrease continually throughout the product life cycle.

A good marketing manager knows that

The market maturity stage of the product life cycle has very low promotion expenditures,little price competition,and rising industry profits.

Relative to most other countries,the U.S.has very strict product liability standards.

Total quality management applies when the firm's product is a physical good,but not when it is a service.

A high percentage of new-product ideas survive to the commercialization step in the new-product development process.

When new product ideas are chosen based on ratings and comments from customers,the process is called

In general,top management support is needed for successful new-product development efforts.

Product liability means the legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products.

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