Question 1

The most dramatic increase in revenue is most likely to occur in the ________ phase of the product life cycle.

Accepted Answer

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

Question 2

An individual moves through five stages before adopting a product. The five stages include all of the following EXCEPT ________.

Accepted Answer

A)  awareness 
B)  interest 
C)  validation 
D)  evaluation 
E)  adoption 
A)  awareness 
B)  interest 
C)  validation 
D)  evaluation 
E)  adoption

Question 3

A product ________ is a group of products linked through usage, customer profile, price points, and distribution channels.

Accepted Answer

A)  form 
B)  mix 
C)  line 
D)  cycle 
E)  core 
A)  form 
B)  mix 
C)  line 
D)  cycle 
E)  core

Question 4

Market testing of a new product can take a long time, and this can result in ________.

Accepted Answer

A)  competitors being able to develop marketing strategies to counter a product launch 
B)  the company losing the excitement of a new product 
C)  the product becoming obsolete by the time it reaches the target market 
D)  online guerrilla tactics by competitors that will disrupt the sales cycle of the product 
E)  customers forming negative opinions about the product 
A)  competitors being able to develop marketing strategies to counter a product launch 
B)  the company losing the excitement of a new product 
C)  the product becoming obsolete by the time it reaches the target market 
D)  online guerrilla tactics by competitors that will disrupt the sales cycle of the product 
E)  customers forming negative opinions about the product

Question 5

New-to-the-world products are products that ________.

Accepted Answer

A)  have been available before but are recycled 
B)  are innovative but only slightly different than previous products 
C)  have not been available before their introduction to the market 
D)  are not disruptive to the marketplace 
E)  make existing products more desirable 
A)  have been available before but are recycled 
B)  are innovative but only slightly different than previous products 
C)  have not been available before their introduction to the market 
D)  are not disruptive to the marketplace 
E)  make existing products more desirable

Question 6

Frequently purchased, relatively low-cost products for which customers have little interest in seeking new information and rely heavily on prior purchase behavior are called ________ goods.

Accepted Answer

A)  shopping 
B)  convenience 
C)  specialty 
D)  unsought 
E)  consenting 
A)  shopping 
B)  convenience 
C)  specialty 
D)  unsought 
E)  consenting

Question 7

In the maturity phase of the product life cycle, the targeted consumers are ________.

Accepted Answer

A)  laggards 
B)  majority adopters 
C)  late adopters 
D)  innovators 
E)  early adopters 
A)  laggards 
B)  majority adopters 
C)  late adopters 
D)  innovators 
E)  early adopters

Question 8

Among the five groups of adopters, laggards are people who ________.

Accepted Answer

A)  enjoy being the first to try and master a new product 
B)  put off purchasing until there is no other option 
C)  are price-sensitive and look for simplified products 
D)  seek out new products consistent with their personal self-image 
E)  are willing to pay the premium price for a product 
A)  enjoy being the first to try and master a new product 
B)  put off purchasing until there is no other option 
C)  are price-sensitive and look for simplified products 
D)  seek out new products consistent with their personal self-image 
E)  are willing to pay the premium price for a product

Question 9

When companies provide too few products in a product line, they run the risk of ________.

Accepted Answer

A)  having inefficiencies in production 
B)  increasing barriers to market entry 
C)  delivering products that can be easily copied 
D)  missing important market opportunities 
E)  being differentiated from competitors 
A)  having inefficiencies in production 
B)  increasing barriers to market entry 
C)  delivering products that can be easily copied 
D)  missing important market opportunities 
E)  being differentiated from competitors

Question 10

Many organizations are too small to have the resources for a national sales force to help discover new-product ideas. As a consequence, they often use ________ as a link between the customer and company.

Accepted Answer

A)  distributors 
B)  parts manufacturers 
C)  logistics companies 
D)  server farms 
E)  suppliers 
A)  distributors 
B)  parts manufacturers 
C)  logistics companies 
D)  server farms 
E)  suppliers

Question 11

More than any other discriminator, style has the disadvantage of being difficult to copy.

Accepted Answer

A) True 
 B)False

Question 12

Choose a product and explain how it moves through the product life cycle. Include the objective of each phase, the targeted customers, and product strategies.

Accepted Answer

I choose the smartphone as the product t

Question 13

When the product is wrong, skilled marketing communication and pricing sophistication can correct the problems.

Accepted Answer

A) True 
 B)False

Question 14

The number of products purchased by the same customer is called repeat purchases.

Accepted Answer

A) True 
 B)False

Question 15

In the context of product classifications, tangibility refers to the ________.

Accepted Answer

A)  service delivered with a product 
B)  ability to create a combination of product and service 
C)  physical aspects of a product 
D)  value of a product in the market 
E)  fundamental need met by a product 
A)  service delivered with a product 
B)  ability to create a combination of product and service 
C)  physical aspects of a product 
D)  value of a product in the market 
E)  fundamental need met by a product

Question 16

In the context of product testing, beta testing is designed to ________.

Accepted Answer

A)  encourage customers to evaluate and provide feedback on a prototype 
B)  let engineers test a product's performance 
C)  give fake information to competitors about a new product 
D)  allow product specialists to check the quality of a product 
E)  clarify the basic operationalization of a product 
A)  encourage customers to evaluate and provide feedback on a prototype 
B)  let engineers test a product's performance 
C)  give fake information to competitors about a new product 
D)  allow product specialists to check the quality of a product 
E)  clarify the basic operationalization of a product

Question 17

An individual moves through five stages before adopting a product, including awareness, notice, trial, testing, and feedback.

Accepted Answer

A) True 
 B)False

Question 18

Customers view new products much differently than companies view them. Customers care only if a product is ________.

Accepted Answer

A)  new to their retail store 
B)  new to them 
C)  offered through a new outlet 
D)  offered online instead of at a brick-and-mortar store 
E)  repositioned to target new markets 
A)  new to their retail store 
B)  new to them 
C)  offered through a new outlet 
D)  offered online instead of at a brick-and-mortar store 
E)  repositioned to target new markets

Question 19

Once a product has been developed and is on the market, the company can extend the product by ________.

Accepted Answer

A)  creating additions to existing product lines 
B)  creating new names for the same products 
C)  developing persuasive advertisements 
D)  upgrading or modifying existing products 
E)  creating a fundamental change in the marketplace 
A)  creating additions to existing product lines 
B)  creating new names for the same products 
C)  developing persuasive advertisements 
D)  upgrading or modifying existing products 
E)  creating a fundamental change in the marketplace

Question 20

New purchases of new products are called ________ purchases.

Accepted Answer

A)  original 
B)  subliminal 
C)  replacement 
D)  trial 
E)  repeat 
A)  original 
B)  subliminal 
C)  replacement 
D)  trial 
E)  repeat

The most dramatic increase in revenue is most likely to occur in the ________ phase of the product life cycle.

An individual moves through five stages before adopting a product. The five stages include all of the following EXCEPT ________.

A product ________ is a group of products linked through usage, customer profile, price points, and distribution channels.

Market testing of a new product can take a long time, and this can result in ________.

New-to-the-world products are products that ________.

Frequently purchased, relatively low-cost products for which customers have little interest in seeking new information and rely heavily on prior purchase behavior are called ________ goods.

In the maturity phase of the product life cycle, the targeted consumers are ________.

Among the five groups of adopters, laggards are people who ________.

When companies provide too few products in a product line, they run the risk of ________.

Many organizations are too small to have the resources for a national sales force to help discover new-product ideas. As a consequence, they often use ________ as a link between the customer and company.

More than any other discriminator, style has the disadvantage of being difficult to copy.

Choose a product and explain how it moves through the product life cycle. Include the objective of each phase, the targeted customers, and product strategies.

When the product is wrong, skilled marketing communication and pricing sophistication can correct the problems.

The number of products purchased by the same customer is called repeat purchases.

In the context of product classifications, tangibility refers to the ________.

In the context of product testing, beta testing is designed to ________.

An individual moves through five stages before adopting a product, including awareness, notice, trial, testing, and feedback.

Customers view new products much differently than companies view them. Customers care only if a product is ________.

Once a product has been developed and is on the market, the company can extend the product by ________.

New purchases of new products are called ________ purchases.

Marketing in Today's Business Milieu

Marketing Foundations: Global, Ethical, Sustainable

Elements of Marketing Strategy, Planning, and Competition

Market Research Essentials

CRM, Big Data, and Marketing Analytics

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Build the Brand

Service as the Core Offering

Manage Pricing Decisions

Manage Marketing Channels, Logistics, and Supply Chain

Promotion Essentials: Digital and Social Media Marketing

Promotion Essentials: Legacy Approaches

Filters

Exam 8: Product Strategy and New Product Development

The most dramatic increase in revenue is most likely to occur in the ________ phase of the product life cycle.

An individual moves through five stages before adopting a product. The five stages include all of the following EXCEPT ________.

A product ________ is a group of products linked through usage, customer profile, price points, and distribution channels.

Market testing of a new product can take a long time, and this can result in ________.

New-to-the-world products are products that ________.

Frequently purchased, relatively low-cost products for which customers have little interest in seeking new information and rely heavily on prior purchase behavior are called ________ goods.

In the maturity phase of the product life cycle, the targeted consumers are ________.

Among the five groups of adopters, laggards are people who ________.

When companies provide too few products in a product line, they run the risk of ________.

Many organizations are too small to have the resources for a national sales force to help discover new-product ideas. As a consequence, they often use ________ as a link between the customer and company.

More than any other discriminator, style has the disadvantage of being difficult to copy.

Choose a product and explain how it moves through the product life cycle. Include the objective of each phase, the targeted customers, and product strategies.

When the product is wrong, skilled marketing communication and pricing sophistication can correct the problems.

The number of products purchased by the same customer is called repeat purchases.

In the context of product classifications, tangibility refers to the ________.

In the context of product testing, beta testing is designed to ________.

An individual moves through five stages before adopting a product, including awareness, notice, trial, testing, and feedback.

Customers view new products much differently than companies view them. Customers care only if a product is ________.

Once a product has been developed and is on the market, the company can extend the product by ________.

New purchases of new products are called ________ purchases.

Marketing in Today's Business Milieu

Marketing Foundations: Global, Ethical, Sustainable

Elements of Marketing Strategy, Planning, and Competition

Market Research Essentials

CRM, Big Data, and Marketing Analytics

Understand Consumer and Business Markets

Segmentation, Target Marketing, and Positioning

Build the Brand

Service as the Core Offering

Manage Pricing Decisions

Manage Marketing Channels, Logistics, and Supply Chain

Promotion Essentials: Digital and Social Media Marketing

Promotion Essentials: Legacy Approaches

Filters