Exam 21: Developing and Managing Products

The stages of the product life cycle,in order,are:

Companies that are most likely to succeed in the development and introduction of new products typically are characterized by all of the following EXCEPT:

Going to the Dogs Demand for pet services is greatly increasing across the United States. In fact, Americans will spend nearly $44 billion dollars on their pets this year. Many American dog owners are seeking out "doggy day cares" that are more like a resort or spa than an ordinary kennel for their canine companion. Day care services for dogs now include toy rooms, outside play areas, doggie massages, treadmills, swimming pools, and cushy beds for nap time. Pet owners can watch their pets via a webcam, and some doggy day cares have a phone where owners can talk to their dogs when they feel their pets need to hear their voices. Rates vary from $20 to $45 a day per pet, depending on the amenities that the pet owner chooses. -Refer to Going to the Dogs.The doggy day care center is more like a dog resort than a dog kennel.A dog day care represents what type of new product?

Rapala VMC Corporation Finland-based Rapala VMC Corporation is the world's largest fishing lure manufacturer. It developed its first fishing lure--a cigar-shaped minnow--in 1962. The annual market for fishing lures in terms of retail sales is approximately $600 million. Rapala VMC garnered one-third of that amount in 2008. New lures must be introduced each year in order to stay competitive in this industry. Like other lure manufacturers, Rapala focuses on two questions in developing and making new lures: Does it work, and does it look good? Developing a new lure takes two or three years and involves extensive field testing by tournament professionals and fishing guides. At the annual fishing industry trade show in 2008, Rapala unveiled the "dream lure for the 21st century." -Refer to Rapala.The testing of new lures by tournament professionals and fishing guides would take place in which stage of new-product development?

One hot August day,Tom saw a can of AriZona Beverage Company's Arnold Palmer Half-and-Half iced tea and lemonade drink at the local convenience store.He decided to try the product and found that he really liked it.Now,Tom regularly purchases this product to quench his thirst on hot days.Tom is an example of a(n):

Liz tends to adopt new products sooner than a lot of other people,but she weighs the pros and cons before buying.She does considerable product research,but her friends don't really look to her for information.She really deliberates before she makes a purchase.Liz is best described as a(n):

One benefit of test marketing is that the marketing activity is shielded from competitors.

Which is the last adopter category to adopt an innovation?

A European dairy that is famous for its rich ice creams has introduced basil-,tomato-,fennel-,and oregano-flavored ice creams.In the process of developing these new flavors,the dairy surveyed world-famous chefs to determine which nontraditional flavors had the greatest level of marketability.This survey would have happened during which stage of the product development process?

During the growth stage of the product life cycle:

The decision to market a product is called commercialization.

At what stage of the new-product development process are most new-product ideas rejected?

Sony has developed a wireless speaker that sits unobtrusively on a desktop.The tiny yet strong twin speakers use Bluetooth to stream music directly from a PC or MP3 player.This small Sony wireless speaker,which is radically different from anything currently on the market,would be classified as a(n):

When P&G began marketing Tide Free & Gentle,which is dye- and perfume-free,this represented which new product category?

Profits typically reach their peak during the growth stage of the product life cycle.

Leon is not very quick to purchase innovative products when they come out,but after a while he breaks down and buys if after most of his friends have bought it.He gets most of his information from them when he decides to buy something.He is very skeptical of marketing,so he trusts his friends more than anything.Leon is best described as a(n):

Roger has lots of nice photos of his family on his digital camera and wishes he could display them on his desk at work without having to print them out.A coworker told him that he could purchase a digital photo frame to download and display his digital photos.Because Roger did not know such a product existed,digital photo frames represented a(n)_____ to him.

When Procter & Gamble wanted to enter the hair-care market,it purchased Wella,a leading German company specializing in hair-care products.What new product category does this acquisition represent for P&G?

Jeni's Splendid Ice Creams is famous for its unusual flavors,such as Wildberry Lavender,Goat Cheese with Red Cherries,and Sweet Corn and Black Raspberries .Which of the following product characteristics would most likely influence the market success of these flavors?

Going to the Dogs Demand for pet services is greatly increasing across the United States. In fact, Americans will spend nearly $44 billion dollars on their pets this year. Many American dog owners are seeking out "doggy day cares" that are more like a resort or spa than an ordinary kennel for their canine companion. Day care services for dogs now include toy rooms, outside play areas, doggie massages, treadmills, swimming pools, and cushy beds for nap time. Pet owners can watch their pets via a webcam, and some doggy day cares have a phone where owners can talk to their dogs when they feel their pets need to hear their voices. Rates vary from $20 to $45 a day per pet, depending on the amenities that the pet owner chooses. -Refer to Going to the Dogs.Laura felt a little bad about leaving her dog,Toby,at home all day while she was at work.She remarked to a coworker one day about her concerns and was surprised when the coworker told her about the local "doggy daycare" business,which she had never heard of before.Because Laura did not know such a service existed,"doggy daycare" represented a(n)_____ to her.