Question 1

In the ________ stage,the firm faces a trade-off between high market share and high profit.

Accepted Answer

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

Question 2

Which of the following is a disadvantage of a team-based approach to new-product development?

Accepted Answer

A) It takes longer to get the right products to market. 
B) The development effort is not as effective because of team members' lack of expertise. 
C) Levels of risk can be more easily controlled. 
D) Organisational confusion and tension can affect the process. 
E) The process does not work with the shorter life-cycles of many of today's products. 
A) It takes longer to get the right products to market. 
B) The development effort is not as effective because of team members' lack of expertise. 
C) Levels of risk can be more easily controlled. 
D) Organisational confusion and tension can affect the process. 
E) The process does not work with the shorter life-cycles of many of today's products.

Question 3

A firm can obtain new products in two ways: acquisition or new-product development.

Accepted Answer

A) True 
 B)False

Question 4

Because names,labels and colours may not easily translate from one country to another,international marketers must carefully assess ________.

Accepted Answer

A) product safety regulations 
B) market rollout 
C) the product life-cycle 
D) packaging issues 
E) styles 
A) product safety regulations 
B) market rollout 
C) the product life-cycle 
D) packaging issues 
E) styles

Question 5

A homewares retailer wants to add new lines of products to its 46-store chain.Managers are correct in believing that the purpose of idea generation is to create a few ideas,and the purpose of succeeding stages is to increase that number.

Accepted Answer

A) True 
 B)False

Question 6

A potential marketer of new Teflon coated shower enclosures asks consumers,'Do you understand how the addition of Teflon will benefit you?' and 'Would this type of shower closure solve a cleaning problem for you?' This marketer is in the ________ stage of new-product development.

Accepted Answer

A) concept development and testing 
B) business analysis 
C) product development 
D) idea generation 
E) market testing 
A) concept development and testing 
B) business analysis 
C) product development 
D) idea generation 
E) market testing

Question 7

Which of the following is a product concept?

Accepted Answer

A) a battery-powered all-electric car 
B) a pocket-size digital music player 
C) an energy efficient humidifier 
D) a thin,lightweight laptop with extended battery life appealing to students and young professionals who want access to their computer anywhere,anytime 
E) a high-tech,stylish running shoe with built-in sensors to record the distance the wearer has walked or run 
A) a battery-powered all-electric car 
B) a pocket-size digital music player 
C) an energy efficient humidifier 
D) a thin,lightweight laptop with extended battery life appealing to students and young professionals who want access to their computer anywhere,anytime 
E) a high-tech,stylish running shoe with built-in sensors to record the distance the wearer has walked or run

Question 8

Which stage of the typical consumer product life-cycle is out of order below?

Accepted Answer

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

Question 9

Using the PLC concept for forecasting product performance or for developing marketing strategies presents some practical problems.Which of the following is NOT one of these practical problems?

Accepted Answer

A) accurate estimates of sales at each PLC stage 
B) length of time spent in each PLC stage 
C) the shape of the PLC curve 
D) the PLC being used for fads or fashions 
E) A and B only 
A) accurate estimates of sales at each PLC stage 
B) length of time spent in each PLC stage 
C) the shape of the PLC curve 
D) the PLC being used for fads or fashions 
E) A and B only

Question 10

Most products in the marketplace are in the ________ stage of the product life-cycle.

Accepted Answer

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

Question 11

A manufacturer with a product in the decline stage of the product life-cycle might decide to ________ if it has has major customers that buy the product in conjunction with their other products.

Accepted Answer

A) harvest the product 
B) maintain the product without change 
C) drop the product 
D) search for replacements 
E) delay planning 
A) harvest the product 
B) maintain the product without change 
C) drop the product 
D) search for replacements 
E) delay planning

Question 12

In order to get their new products to market more quickly,many companies are adopting a faster,team-oriented approach called ________.

Accepted Answer

A) simulated new-product development 
B) sequential product development 
C) team-based new-product development 
D) phased-in new-product development 
E) market development 
A) simulated new-product development 
B) sequential product development 
C) team-based new-product development 
D) phased-in new-product development 
E) market development

Question 13

A company launching a new product into the market should first decide where to launch the product.

Accepted Answer

A) True 
 B)False

Question 14

Top management can install a(n)________ to direct the flow of new-product ideas to a central point where they can be collected,reviewed and evaluated.

Accepted Answer

A) idea evaluation system 
B) innovation management system 
C) database 
D) market strategy 
E) data processing system 
A) idea evaluation system 
B) innovation management system 
C) database 
D) market strategy 
E) data processing system

Question 15

Simulated test markets allow firms to obtain realistic evaluations of new products in 'real world' settings while hiding their activities from competitors.

Accepted Answer

A) True 
 B)False

Question 16

The maturity stage of the PLC is characterised by a slowdown in the rate of sales growth.

Accepted Answer

A) True 
 B)False

Question 17

Your firm asks you to consult external sources for new product ideas.All of the following are common external sources EXCEPT ________.

Accepted Answer

A) customers 
B) suppliers 
C) competitors 
D) trade shows and magazines 
E) the firm's executives 
A) customers 
B) suppliers 
C) competitors 
D) trade shows and magazines 
E) the firm's executives

Question 18

Retailers are among the latest service businesses to go global.

Accepted Answer

A) True 
 B)False

Question 19

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

Accepted Answer

A) product development 
B) introduction 
C) growth 
D) maturity 
E) adoption 
A) product development 
B) introduction 
C) growth 
D) maturity 
E) adoption

Question 20

Using the PLC concept to develop marketing strategy can be problematic because strategy is both a cause and a result of the product's life-cycle.

Accepted Answer

A) True 
 B)False

In the ________ stage,the firm faces a trade-off between high market share and high profit.

Which of the following is a disadvantage of a team-based approach to new-product development?

A firm can obtain new products in two ways: acquisition or new-product development.

Because names,labels and colours may not easily translate from one country to another,international marketers must carefully assess ________.

A homewares retailer wants to add new lines of products to its 46-store chain.Managers are correct in believing that the purpose of idea generation is to create a few ideas,and the purpose of succeeding stages is to increase that number.

A potential marketer of new Teflon coated shower enclosures asks consumers,'Do you understand how the addition of Teflon will benefit you?' and 'Would this type of shower closure solve a cleaning problem for you?' This marketer is in the ________ stage of new-product development.

Which of the following is a product concept?

Which stage of the typical consumer product life-cycle is out of order below?

Using the PLC concept for forecasting product performance or for developing marketing strategies presents some practical problems.Which of the following is NOT one of these practical problems?

Most products in the marketplace are in the ________ stage of the product life-cycle.

A manufacturer with a product in the decline stage of the product life-cycle might decide to ________ if it has has major customers that buy the product in conjunction with their other products.

In order to get their new products to market more quickly,many companies are adopting a faster,team-oriented approach called ________.

A company launching a new product into the market should first decide where to launch the product.

Top management can install a(n)________ to direct the flow of new-product ideas to a central point where they can be collected,reviewed and evaluated.

Simulated test markets allow firms to obtain realistic evaluations of new products in 'real world' settings while hiding their activities from competitors.

The maturity stage of the PLC is characterised by a slowdown in the rate of sales growth.

Your firm asks you to consult external sources for new product ideas.All of the following are common external sources EXCEPT ________.

Retailers are among the latest service businesses to go global.

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

Using the PLC concept to develop marketing strategy can be problematic because strategy is both a cause and a result of the product's life-cycle.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analysing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behaviour

Business Markets and Business Buyer Behaviour

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Developing New Products and Managing the Product

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Filters

Exam 8: Products, Services and Brands: Building Customer Value

In the ________ stage,the firm faces a trade-off between high market share and high profit.

Which of the following is a disadvantage of a team-based approach to new-product development?

A firm can obtain new products in two ways: acquisition or new-product development.

Because names,labels and colours may not easily translate from one country to another,international marketers must carefully assess ________.

A homewares retailer wants to add new lines of products to its 46-store chain.Managers are correct in believing that the purpose of idea generation is to create a few ideas,and the purpose of succeeding stages is to increase that number.

A potential marketer of new Teflon coated shower enclosures asks consumers,'Do you understand how the addition of Teflon will benefit you?' and 'Would this type of shower closure solve a cleaning problem for you?' This marketer is in the ________ stage of new-product development.

Which of the following is a product concept?

Which stage of the typical consumer product life-cycle is out of order below?

Using the PLC concept for forecasting product performance or for developing marketing strategies presents some practical problems.Which of the following is NOT one of these practical problems?

Most products in the marketplace are in the ________ stage of the product life-cycle.

A manufacturer with a product in the decline stage of the product life-cycle might decide to ________ if it has has major customers that buy the product in conjunction with their other products.

In order to get their new products to market more quickly,many companies are adopting a faster,team-oriented approach called ________.

A company launching a new product into the market should first decide where to launch the product.

Top management can install a(n)________ to direct the flow of new-product ideas to a central point where they can be collected,reviewed and evaluated.

Simulated test markets allow firms to obtain realistic evaluations of new products in 'real world' settings while hiding their activities from competitors.

The maturity stage of the PLC is characterised by a slowdown in the rate of sales growth.

Your firm asks you to consult external sources for new product ideas.All of the following are common external sources EXCEPT ________.

Retailers are among the latest service businesses to go global.

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

Using the PLC concept to develop marketing strategy can be problematic because strategy is both a cause and a result of the product's life-cycle.

Marketing: Creating and Capturing Customer Value

Company and Marketing Strategy: Partnering to Build Customer Relationships

Analysing the Marketing Environment

Managing Marketing Information to Gain Customer Insights

Consumer Markets and Consumer Buyer Behaviour

Business Markets and Business Buyer Behaviour

Customer-Driven Marketing Strategy: Creating Value for Target Customers

Developing New Products and Managing the Product

Pricing Strategies: Understanding and Capturing Customer Value

Additional Pricing Considerations

Marketing Channels: Delivering Customer Value

Retailing and Wholesaling

Communicating Customer Value: Integrated Marketing Communications Strategy

Filters