Question 1

Which of the following would most likely be considered a shopping good?

Accepted Answer

A)  A package of chewing gum 
B)  A Bic pen 
C)  A ream of typing paper 
D)  A birthday gift for your mother 
E)  A loaf of bread

Question 2

During this stage of a product's life cycle marketers focus on making potential consumers aware of the product and its benefits. Profits are non-existent or small. This is the ________ stage.

Accepted Answer

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

Question 3

Lexington Corp. has been involved in a new product development process for several months. They have completed several preliminary tasks, the most recent of which was estimating costs and benefits for a proposed new product. What should they do next?

Accepted Answer

A)  Business analysis 
B)  Test marketing 
C)  Product testing 
D)  Concept testing 
E)  Prototype development

Question 4

Why is the role of the marketing manager and the culmination of the marketing plan critical for the company?

Accepted Answer

The answer of Why is the role of the marketing...

Exam 12: Understanding Marketing Principles and Developing Products

Which of the following would most likely be considered a shopping good?

During this stage of a product's life cycle marketers focus on making potential consumers aware of the product and its benefits. Profits are non-existent or small. This is the ________ stage.

Lexington Corp. has been involved in a new product development process for several months. They have completed several preliminary tasks, the most recent of which was estimating costs and benefits for a proposed new product. What should they do next?

Why is the role of the marketing manager and the culmination of the marketing plan critical for the company?