Exam 11: New Products

The yo- yo is a product that makes a rapid market appearance, quickly becomes a "must- have" accessory for many young people, disappears from the market with almost the same speed that it appeared and then seems to lie dormant for a decade or more before a new incarnation of the yo- yo appears and the cycle repeats. The yo- yo is a great example of a:

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Question 1

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Identify and briefly characterise the five stages of the product life cycle (PLC).

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Question 2

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(a) Product development—begins when the company finds and develops a new product idea. During product development, sales are zero and the company's investment costs mount.
(b) Introduction—a period of slow sales growth as the product is introduced in the market. Profits are non- existent in this stage because of the heavy expenses of product introduction.
(c) Growth—a period of rapid market acceptance and increasing profits.
(d) Maturity—a period of slowdown in sales growth because the product has achieved acceptance by most potential buyers. Profits level off or decline because of increased marketing outlays to defend the product against competition.
(e) Decline—the period when sales fall off and profits drop.

As Williams Skincare company continued with the task of developing a new product, a spray- on hair removal cream, a group was assigned the task of estimating preliminary demand for the product, costs, sales and future profitability. The company is MOST likely in which stage of the new product development process?

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Question 3

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The last stage of the new product development process is:

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Question 4

The stage of the product life cycle where a company is MOST likely to consider modifying its product is:

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Question 5

According to your text, the most important source of new product ideas is which of the following?

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Question 6

In attempting to estimate the likely sales and costs of several potential new products, a firm engages in business analysis.

(True/False)

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Question 7

The majority of all products sold today are in ________stage of the product life cycle.

(Multiple Choice)

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Question 8

A marketer wanting to test a business product is likely to use which of the following test market methods?

(Multiple Choice)

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Question 9

The stage of the product adoption process in which consumers sample the product on a limited scale to improve their understanding of product value is known as:

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Question 10

The stage of the product life cycle that typically lasts longer and poses more marketing challenges is:

(Multiple Choice)

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Question 11

A test market in which researchers measure consumer responses to new products and marketing tactics in laboratory stores or simulated shopping environments is known as:

(Multiple Choice)

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Question 12

Standard test markets allow marketers to evaluate the success potential of new products in realistic market situations while "hiding" their activities from competitors.

(True/False)

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Question 13

Management at Greville Street Lingerie Company considered making embroidered pillow slip covers, but then decided slip covers were not within the company's corporate mission. Which stage of the new product development process did they reach?

(Multiple Choice)

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Question 14

Which of the following is NOT one of the stages in the new product development process?

(Multiple Choice)

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Question 15

New product should undergo testing is to ensure that they:

(Multiple Choice)

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Question 16

The Kappa Corporation is preparing to roll out a new product and is currently deciding whether it should enter the market at the same time it knows a competitor's new product is coming out. The firm is in which stage of the new product development process?

(Multiple Choice)

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Question 17

An industrial marketer produces a limited supply of new products and asks the sales team to sell it in a limited number of geographic markets. This type of test marketing is known as a:

(Multiple Choice)

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Question 18

The adopter category that is most suspicious of new product ideas is:

(Multiple Choice)

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Question 19

A particular type of consumer that has been found to be critical in the successful adoption of new products is known as:

(Multiple Choice)

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Question 20

Showing 1 - 20 of 125

Identify and briefly characterise the five stages of the product life cycle (PLC).

The last stage of the new product development process is:

The stage of the product life cycle where a company is MOST likely to consider modifying its product is:

According to your text, the most important source of new product ideas is which of the following?

In attempting to estimate the likely sales and costs of several potential new products, a firm engages in business analysis.

The majority of all products sold today are in ________stage of the product life cycle.

A marketer wanting to test a business product is likely to use which of the following test market methods?

The stage of the product adoption process in which consumers sample the product on a limited scale to improve their understanding of product value is known as:

The stage of the product life cycle that typically lasts longer and poses more marketing challenges is:

A test market in which researchers measure consumer responses to new products and marketing tactics in laboratory stores or simulated shopping environments is known as:

Standard test markets allow marketers to evaluate the success potential of new products in realistic market situations while "hiding" their activities from competitors.

Management at Greville Street Lingerie Company considered making embroidered pillow slip covers, but then decided slip covers were not within the company's corporate mission. Which stage of the new product development process did they reach?

Which of the following is NOT one of the stages in the new product development process?

New product should undergo testing is to ensure that they:

The Kappa Corporation is preparing to roll out a new product and is currently deciding whether it should enter the market at the same time it knows a competitor's new product is coming out. The firm is in which stage of the new product development process?

An industrial marketer produces a limited supply of new products and asks the sales team to sell it in a limited number of geographic markets. This type of test marketing is known as a:

The adopter category that is most suspicious of new product ideas is:

A particular type of consumer that has been found to be critical in the successful adoption of new products is known as:

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