Question 1

The significant market share advantage to be gained by being the first in the market is a(n):

Accepted Answer

A)  Entrant advantage 
B)  Primary advantage 
C)  Initial-entrant premium 
D)  First-mover advantage 
E)  Absolute advantage 
A)  Entrant advantage 
B)  Primary advantage 
C)  Initial-entrant premium 
D)  First-mover advantage 
E)  Absolute advantage

Question 2

In terms of the GE grid,a product that is sold in an attractive market and represents a strong product for the company would be similar to a _____ in the BCG matrix.

Accepted Answer

A)  Dog 
B)  Question mark 
C)  Category killer 
D)  Star 
E)  Cash cow 
A)  Dog 
B)  Question mark 
C)  Category killer 
D)  Star 
E)  Cash cow

Question 3

Define leapfrogging.What are its consequences?

Accepted Answer

Some products are never brought to marke

Question 4

Write a short note on the keys to innovation?

Accepted Answer

New product development is dependent on

Question 5

The GE grid "positions" the firm's product portfolio along two "dimensions" based on:

Accepted Answer

A)  Market share and profitability 
B)  Market attractiveness and business strength 
C)  Sales and market share 
D)  PLC stage and sales volume 
E)  PLC stage and BCG rating 
A)  Market share and profitability 
B)  Market attractiveness and business strength 
C)  Sales and market share 
D)  PLC stage and sales volume 
E)  PLC stage and BCG rating

Question 6

_____ is the core expertise that is often the basis for a product line.

Accepted Answer

A)  A dimension 
B)  A product feature 
C)  A technology platform 
D)  A production plan 
E)  The sales mix 
A)  A dimension 
B)  A product feature 
C)  A technology platform 
D)  A production plan 
E)  The sales mix

Question 7

Which of the following should happen in the growth stage of the product life cycle?

Accepted Answer

A)  Attempt to maintain price to the end 
B)  Cut low-gross-margin products from the line 
C)  Long-term price reduction or at least a short-term price promotion 
D)  Sales force incentives and management 
E)  Consider divesting while it is a going concern 
A)  Attempt to maintain price to the end 
B)  Cut low-gross-margin products from the line 
C)  Long-term price reduction or at least a short-term price promotion 
D)  Sales force incentives and management 
E)  Consider divesting while it is a going concern

Question 8

Whenever a firm declines to introduce a potential new product,it is accepting a(n):

Accepted Answer

A)  Opportunity risk 
B)  Investment risk 
C)  Product risk 
D)  Commodity risk 
E)  Market risk 
A)  Opportunity risk 
B)  Investment risk 
C)  Product risk 
D)  Commodity risk 
E)  Market risk

Question 9

Beta testing should be utilized for all new products except simple updates of existing offerings and/or line extensions.

Accepted Answer

A) True 
 B)False

Question 10

Which of the following is a PLC dimension?

Accepted Answer

A)  The company's image 
B)  People resources 
C)  Growth rate 
D)  Market size 
E)  Time 
A)  The company's image 
B)  People resources 
C)  Growth rate 
D)  Market size 
E)  Time

Question 11

Products depicted by the BCG model as having low market share/strength in high-growth markets are:

Accepted Answer

A)  Stars 
B)  Question marks 
C)  Dogs 
D)  Category killers 
E)  Cash cows 
A)  Stars 
B)  Question marks 
C)  Dogs 
D)  Category killers 
E)  Cash cows

Question 12

For truly innovative products,this stage of the PLC requires marketers to educate buyers and channel members as to the function of the product.

Accepted Answer

A)  Growth 
B)  Decline 
C)  Development 
D)  Introduction 
E)  Maturity 
A)  Growth 
B)  Decline 
C)  Development 
D)  Introduction 
E)  Maturity

Question 13

Quality Function Deployment seeks to describe how benefits are linked to all the following EXCEPT:

Accepted Answer

A)  Product 
B)  Component part 
C)  Inventory control 
D)  Production controls 
E)  Process characteristics 
A)  Product 
B)  Component part 
C)  Inventory control 
D)  Production controls 
E)  Process characteristics

Question 14

The least important factor that is considered in screening and preliminary investigation is:

Accepted Answer

A)  Market potential 
B)  Consistency with corporate objectives 
C)  The ability to serve customers' needs 
D)  The ability to manufacture and service the product 
E)  The competitive advantage gained with the product 
A)  Market potential 
B)  Consistency with corporate objectives 
C)  The ability to serve customers' needs 
D)  The ability to manufacture and service the product 
E)  The competitive advantage gained with the product

Question 15

In terms of the product life cycle,which of the following is a common recommendation for the development stage?

Accepted Answer

A)  Freeze R&D and product modifications 
B)  Niche marketing 
C)  Prune product lines 
D)  Withdraw from channels in order of their unprofitability 
E)  Expand distributor network 
A)  Freeze R&D and product modifications 
B)  Niche marketing 
C)  Prune product lines 
D)  Withdraw from channels in order of their unprofitability 
E)  Expand distributor network

Question 16

Generally,sales are low and profits are not expected in the _____ stage of the PLC.

Accepted Answer

A)  Introduction 
B)  Growth 
C)  Maturity 
D)  Saturation 
E)  Idea generation 
A)  Introduction 
B)  Growth 
C)  Maturity 
D)  Saturation 
E)  Idea generation

Question 17

In the maturity stage:

Accepted Answer

A)  Competition against an innovative product is most likely to enter the market 
B)  Marketing expenses should begin to decline 
C)  Vendors begin to differentiate their product in order to create secondary demand 
D)  Primary demand must be created 
E)  Sales are relatively low and profits are unlikely 
A)  Competition against an innovative product is most likely to enter the market 
B)  Marketing expenses should begin to decline 
C)  Vendors begin to differentiate their product in order to create secondary demand 
D)  Primary demand must be created 
E)  Sales are relatively low and profits are unlikely

Question 18

The sales potential for a completely new product is less than for a me-too product.

Accepted Answer

A) True 
 B)False

Question 19

Products with low share in a poor market are called:

Accepted Answer

A)  Stars 
B)  Question marks 
C)  Cows 
D)  Dogs 
E)  Category killers 
A)  Stars 
B)  Question marks 
C)  Cows 
D)  Dogs 
E)  Category killers

Question 20

In the BCG approach to portfolio management,products having high market share and strengths in a steady market are called:

Accepted Answer

A)  Cash cows 
B)  Stars 
C)  Dogs 
D)  Question marks 
E)  Category killers 
A)  Cash cows 
B)  Stars 
C)  Dogs 
D)  Question marks 
E)  Category killers

The significant market share advantage to be gained by being the first in the market is a(n):

In terms of the GE grid,a product that is sold in an attractive market and represents a strong product for the company would be similar to a _____ in the BCG matrix.

Define leapfrogging.What are its consequences?

Write a short note on the keys to innovation?

The GE grid "positions" the firm's product portfolio along two "dimensions" based on:

_____ is the core expertise that is often the basis for a product line.

Which of the following should happen in the growth stage of the product life cycle?

Whenever a firm declines to introduce a potential new product,it is accepting a(n):

Beta testing should be utilized for all new products except simple updates of existing offerings and/or line extensions.

Which of the following is a PLC dimension?

Products depicted by the BCG model as having low market share/strength in high-growth markets are:

For truly innovative products,this stage of the PLC requires marketers to educate buyers and channel members as to the function of the product.

Quality Function Deployment seeks to describe how benefits are linked to all the following EXCEPT:

The least important factor that is considered in screening and preliminary investigation is:

In terms of the product life cycle,which of the following is a common recommendation for the development stage?

Generally,sales are low and profits are not expected in the _____ stage of the PLC.

In the maturity stage:

The sales potential for a completely new product is less than for a me-too product.

Products with low share in a poor market are called:

In the BCG approach to portfolio management,products having high market share and strengths in a steady market are called:

Introduction to Business Marketing

The Character of Business Marketing

The Purchasing Function

Organizational Buyer Behavior

Market Opportunities: Current and Potential

Marketing Strategy

Weaving Marketing Into the Fabric of the Firm

Business Marketing Channels: Partnerships for...

Creating Customer Dialogue

Communicating Via Advertising, trade Shows and PR

The One to One Media

Sales and Sales Management

Pricing and Negotiating for Value

Evaluating Marketing Efforts

Customer Retention and Maximization

Filters

Exam 8: Developing and Managing Offerings: What Do Customers

The significant market share advantage to be gained by being the first in the market is a(n):

In terms of the GE grid,a product that is sold in an attractive market and represents a strong product for the company would be similar to a _____ in the BCG matrix.

Define leapfrogging.What are its consequences?

Write a short note on the keys to innovation?

The GE grid "positions" the firm's product portfolio along two "dimensions" based on:

_____ is the core expertise that is often the basis for a product line.

Which of the following should happen in the growth stage of the product life cycle?

Whenever a firm declines to introduce a potential new product,it is accepting a(n):

Beta testing should be utilized for all new products except simple updates of existing offerings and/or line extensions.

Which of the following is a PLC dimension?

Products depicted by the BCG model as having low market share/strength in high-growth markets are:

For truly innovative products,this stage of the PLC requires marketers to educate buyers and channel members as to the function of the product.

Quality Function Deployment seeks to describe how benefits are linked to all the following EXCEPT:

The least important factor that is considered in screening and preliminary investigation is:

In terms of the product life cycle,which of the following is a common recommendation for the development stage?

Generally,sales are low and profits are not expected in the _____ stage of the PLC.

In the maturity stage:

The sales potential for a completely new product is less than for a me-too product.

Products with low share in a poor market are called:

In the BCG approach to portfolio management,products having high market share and strengths in a steady market are called:

Introduction to Business Marketing

The Character of Business Marketing

The Purchasing Function

Organizational Buyer Behavior

Market Opportunities: Current and Potential

Marketing Strategy

Weaving Marketing Into the Fabric of the Firm

Business Marketing Channels: Partnerships for...

Creating Customer Dialogue

Communicating Via Advertising, trade Shows and PR

The One to One Media

Sales and Sales Management

Pricing and Negotiating for Value

Evaluating Marketing Efforts

Customer Retention and Maximization

Filters