Question 1

As a product moves into the market maturity stage of its life cycle, the marketing manager should:

Accepted Answer

A)  try to build primary demand. 
B)  move toward exclusive distribution. 
C)  expect the market to move toward pure competition. 
D)  emphasize promotion that informs rather than persuades. 
E)  None of these alternatives is correct. 
A)  try to build primary demand. 
B)  move toward exclusive distribution. 
C)  expect the market to move toward pure competition. 
D)  emphasize promotion that informs rather than persuades. 
E)  None of these alternatives is correct.

Question 2

A new-product idea moves through the early stages of the life cycle more quickly when it has all the following characteristics EXCEPT:

Accepted Answer

A)  the product is easy to use. 
B)  the product can be tried on a limited basis, without a lot of risk to the customer. 
C)  the product has no competitive advantage over those already in the market. 
D)  the product is compatible with the values and experiences of target customers. 
E)  the product's advantages are easy to communicate. 
A)  the product is easy to use. 
B)  the product can be tried on a limited basis, without a lot of risk to the customer. 
C)  the product has no competitive advantage over those already in the market. 
D)  the product is compatible with the values and experiences of target customers. 
E)  the product's advantages are easy to communicate.

Question 3

According to the US Federal Trade Commission (FTC), a firm can call its product "new" for _____ months.

Accepted Answer

A)  1 
B)  3 
C)  6 
D)  9 
E)  12 
A)  1 
B)  3 
C)  6 
D)  9 
E)  12

Question 4

The strategies for all stages of the product life cycle should be growth strategies.

Accepted Answer

A) True 
 B)False

Question 5

In the _____ stage of the product life cycle, organizations focus on building primary demand.

Accepted Answer

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

Question 6

Which of the following statements about the commercialization stage of the new-product development process is False?

Accepted Answer

A)  A firm should always rollout the product to the entire target market at one time. 
B)  Channels of distribution need to be filled with goods. 
C)  Introductory promotion tends to be more costly if the firm is entering a very competitive market. 
D)  People need to be hired and trained to provide services. 
E)  None of these statements is False. 
A)  A firm should always rollout the product to the entire target market at one time. 
B)  Channels of distribution need to be filled with goods. 
C)  Introductory promotion tends to be more costly if the firm is entering a very competitive market. 
D)  People need to be hired and trained to provide services. 
E)  None of these statements is False.

Question 7

Empowerment means giving employees the authority to correct a problem on their own.

Accepted Answer

A) True 
 B)False

Question 8

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 9

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 alternatives 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 alternatives are correct.

Question 10

Regarding product life cycles, a good marketing manager knows that

Accepted Answer

A)  entirely different target markets may be involved at different stages of the product life cycle. 
B)  a product that doesn't get beyond the introduction stage is still likely to be very profitable. 
C)  industry profits are increasing well after sales start to decline. 
D)  once a market goes into sales decline, oligopoly conditions set in. 
E)  All of these alternatives are correct. 
A)  entirely different target markets may be involved at different stages of the product life cycle. 
B)  a product that doesn't get beyond the introduction stage is still likely to be very profitable. 
C)  industry profits are increasing well after sales start to decline. 
D)  once a market goes into sales decline, oligopoly conditions set in. 
E)  All of these alternatives are correct.

Question 11

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 12

As a product moves through its product life cycle:

Accepted Answer

A)  industry profits may decrease while industry sales increase. 
B)  the nature of competition moves toward pure competition or oligopoly. 
C)  entirely different target markets may be aimed at. 
D)  customers' attitudes and needs may change. 
E)  All of these alternatives are true. 
A)  industry profits may decrease while industry sales increase. 
B)  the nature of competition moves toward pure competition or oligopoly. 
C)  entirely different target markets may be aimed at. 
D)  customers' attitudes and needs may change. 
E)  All of these alternatives are true.

Question 13

It is still possible for a firm to earn a profit if it operates in the sales decline stage of the product life cycle.

Accepted Answer

A) True 
 B)False

Question 14

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

Accepted Answer

A) True 
 B)False

Question 15

Identify the INCORRECT statement pertaining to the stages of the product life cycle.

Accepted Answer

A)  The market introduction stage can be seen as investing in the future. 
B)  In the market growth stage profits keep rising steadily with no sign of decline. 
C)  Sales level off and profits continue down in the market maturity stage. 
D)  The sales decline stage can be seen as a time of replacement. 
E)  Industry profits go down throughout the market maturity stage. 
A)  The market introduction stage can be seen as investing in the future. 
B)  In the market growth stage profits keep rising steadily with no sign of decline. 
C)  Sales level off and profits continue down in the market maturity stage. 
D)  The sales decline stage can be seen as a time of replacement. 
E)  Industry profits go down throughout the market maturity stage.

Question 16

Two keys to improving service quality are:

Accepted Answer

A)  training and empowerment. 
B)  JIT delivery and supply chain management. 
C)  appraisals and rewards. 
D)  monitoring and control. 
E)  positive and negative reinforcement. 
A)  training and empowerment. 
B)  JIT delivery and supply chain management. 
C)  appraisals and rewards. 
D)  monitoring and control. 
E)  positive and negative reinforcement.

Question 17

Which stage of the product life cycle is the largest profit stage for companies?

Accepted Answer

A)  Market Introduction 
B)  Market Maturity 
C)  Stagnation 
D)  Sales Decline 
E)  Market Growth 
A)  Market Introduction 
B)  Market Maturity 
C)  Stagnation 
D)  Sales Decline 
E)  Market Growth

Question 18

When a market test for a new product is successful, the firm typically introduces the product in different regions of the U.S. in sequential stages. This process is called a:

Accepted Answer

A)  rollout. 
B)  fallout. 
C)  TQM. 
D)  concept test. 
E)  JIT. 
A)  rollout. 
B)  fallout. 
C)  TQM. 
D)  concept test. 
E)  JIT.

Question 19

The more narrowly we define a product-market, the shorter the product life cycle because improved product ideas come along to replace the old.

Accepted Answer

A) True 
 B)False

Question 20

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

Accepted Answer

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

As a product moves into the market maturity stage of its life cycle, the marketing manager should:

A new-product idea moves through the early stages of the life cycle more quickly when it has all the following characteristics EXCEPT:

According to the US Federal Trade Commission (FTC), a firm can call its product "new" for _____ months.

The strategies for all stages of the product life cycle should be growth strategies.

In the _____ stage of the product life cycle, organizations focus on building primary demand.

Which of the following statements about the commercialization stage of the new-product development process is False?

Empowerment means giving employees the authority to correct a problem on their own.

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

During the MARKET MATURITY stage of the product life cycle:

Regarding product life cycles, a good marketing manager knows that

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.

As a product moves through its product life cycle:

It is still possible for a firm to earn a profit if it operates in the sales decline stage of the product life cycle.

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

Identify the INCORRECT statement pertaining to the stages of the product life cycle.

Two keys to improving service quality are:

Which stage of the product life cycle is the largest profit stage for companies?

When a market test for a new product is successful, the firm typically introduces the product in different regions of the U.S. in sequential stages. This process is called a:

The more narrowly we define a product-market, the shorter the product life cycle because improved product ideas come along to replace the old.

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

Marketing39s Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing 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

Promotion - Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

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

Economics Fundamentals

Marketing Arithmetic

Filters

Exam 9: Product Management and New-Product Development

As a product moves into the market maturity stage of its life cycle, the marketing manager should:

A new-product idea moves through the early stages of the life cycle more quickly when it has all the following characteristics EXCEPT:

According to the US Federal Trade Commission (FTC), a firm can call its product "new" for _____ months.

The strategies for all stages of the product life cycle should be growth strategies.

In the _____ stage of the product life cycle, organizations focus on building primary demand.

Which of the following statements about the commercialization stage of the new-product development process is False?

Empowerment means giving employees the authority to correct a problem on their own.

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

During the MARKET MATURITY stage of the product life cycle:

Regarding product life cycles, a good marketing manager knows that

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.

As a product moves through its product life cycle:

It is still possible for a firm to earn a profit if it operates in the sales decline stage of the product life cycle.

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

Identify the INCORRECT statement pertaining to the stages of the product life cycle.

Two keys to improving service quality are:

Which stage of the product life cycle is the largest profit stage for companies?

When a market test for a new product is successful, the firm typically introduces the product in different regions of the U.S. in sequential stages. This process is called a:

The more narrowly we define a product-market, the shorter the product life cycle because improved product ideas come along to replace the old.

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

Marketing39s Value to Consumers, Firms, and Society

Marketing Strategy Planning

Evaluating Opportunities in the Changing Marketing 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

Promotion - Introduction to Integrated Marketing Communications

Personal Selling and Customer Service

Advertising, Publicity, and Sales Promotion

Pricing Objectives and Policies

Price Setting in the Business World

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

Economics Fundamentals

Marketing Arithmetic

Filters