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

Mattel's Barbie is an example of a product with an extended life.Barbie,first launched in 1959,has undergone many incarnations.In spite of her age,Barbie is both timeless and trendy and would be said to be in the ________ stage of the PLC.

All of the following are stages in the PLC,EXCEPT which one?

With what groups do firms conduct concept testing for new products?

When Easy-Off oven cleaner replaced the harsh chemical smell of the cleaner with a fresh lemon fragrance,the Easy-Off manufacturer ________.

What are the two ways that a company can obtain new products?

When companies move beyond gathering new-product ideas from customers,and instead work with customers and involve them directly in the innovation process,this is an example of ________.

Which of the following is NOT a potential reason for a new product to fail?

A new-product development approach in which one company department works individually to complete its stage of the process before passing the new product along to the next department and stage is known as ________ product development.

Which of the following would lead to greater competition in the maturity stage of the PLC?

A(n)________ is a fashion that enters quickly and is adopted with great zeal and is characterised by a product life-cycle showing an early peak and quick decline.

Which of the following is NOT a challenge presented to marketers by the product life-cycle?

A product idea is an idea for a possible product a company can offer the market,while a product concept is a detailed version of the idea stated in meaningful consumer terms.

An international marketer will NOT need to tailor a product's packaging to meet the physical characteristics of consumers in various parts of the world.

Once the product or service passes the business analysis test,it moves into what stage?

A major 'hidden' cost associated with keeping a weak product is that it may delay the search for,and introduction of,products the firm may need to assure future profitability.

Carrying a weak product during the decline stage of the PLC can be very costly to a firm,and not just in profit terms.Which one of these is NOT likely to be one of those costs?

________ calls for testing new-product concepts with groups of target consumers.

Apple's iPod has been called 'one of the greatest consumer electronics hits of all time'.Since it was first marketed in 2001,more than 120 million iPods have been sold,and the iPod captures more than 70 per cent of the music player market.This success has attracted many large,resourceful competitors.The iPod is in the ________ stage of the product life-cycle.

A(n)________ is a basic and distinctive mode of expression which has a product life-cycle showing several periods of renewed interest.

In which stage of the PLC would promotional expenditures most likely increase as a company attempts to react to increasing competition?