Exam 9: Developing New Products and Managing the Product Life Cycle

You have recently sent a proposal for a novel to an editor at a major publishing firm.The editor,alone,will carry out the idea screening.Why might you feel this process is unfair?

The federal government may prevent a company from adding products through acquisitions if acquisition threatens to lessen competition.

Which of the following CANNOT be described using the PLC concept?

Atlas Steel Corporation lacks the confidence,capital,and capacity to launch its new steel product into full national or international distribution.Test market results look promising,so what should be management's next step?

Manufacturers must comply with specific laws regarding .

Which stage in the PLC is characterized by rapid market acceptance and increasing sales?

How might competitors be a good external idea source?

How might a firm benefit from implementing an "intrapreneurial" program?

Under what circumstances might it be wise for a company to do little or no test marketing?

A review of the sales,costs,and profit projections for a new product to find out whether they satisfy the company's objectives is called a .

Why might ad expenditures remain high in the growth stage of the PLC?

During which stage of new- product development will management most likely estimate minimum and maximum sales to assess the range of risk in launching a new product?

P&G introduced its Duncan Hines ready- to- spread frosting in a small geographic area.When General Foods became aware of the product,it rushed to market its own Betty Crocker ready- to- spread frosting,which eclipsed the Duncan Hines product introduction.General Foods was able to enter the stage of the new- product development process before P&G could.

After concept testing,a firm would engage in which stage in developing and marketing a new product?

Each product will have a life cycle,although its exact shape and length is not known in advance.Briefly explain each step in the PLC.

When a product is in the maturity stage,the company should consider .

Sherri's Exclusives sells currently accepted and popular clothing items in given fields.What does she stock in her store?

When sales of a product falter during the PLC,a company can take several approaches.The more common ones are to modify the marketing mix,modify the product,or modify the market.

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

When Kraft focused on cost- cutting with its older and established brands,leaving them to wither without much investment or modification,Kraft decided to the older products.