Exam 11: Strategic Product Management

Use the following to answer the questions. Jonathan Moore,president of Polar Manufacturing Company,has just reviewed the performance reports for the previous year and sees that there are some areas in which the company needs to improve.He specifically feels they could do a better job in managing Polar's product mix.Jonathan calls a meeting of all the managers responsible for each of the product lines that Polar currently manufactures.The group decides that they need to eliminate the complete industrial product line of ice chests,and plan to do so by letting the product decline without any changes in the marketing strategy or product.The group also decides to delete Polar's line of personal thermal underwear,however this product is to be discontinued within the week due to its unprofitability.While discussing these strategies,the group has also uncovered several customer groups for which new products could be developed.The managers decide to assemble a group of people from all functional areas of the company and give them the responsibility for all aspects of the new-product development. -Refer to Scenario 11.2.The group of people that management has assembled to take on the task of new-product development is best described as

Often,a new product is launched in stages during commercialization.This gradual introduction of the product is known as

The majority of new-product projects initiated by major companies reach the commercialization stage.

When marketers at Nabisco meet to identify the types of snacks that young people want,they are engaging in which phase of new-product development?

Questions such as "How often would you buy this product?" and "Which features are of little or no interest to you?" are often proposed during

Product design is the process of creating and designing products so that consumers perceive them as different from competing products.

Three major ways in which marketers engage in product differentiation are

Use the following to answer the questions. Jonathan Moore,president of Polar Manufacturing Company,has just reviewed the performance reports for the previous year and sees that there are some areas in which the company needs to improve.He specifically feels they could do a better job in managing Polar's product mix.Jonathan calls a meeting of all the managers responsible for each of the product lines that Polar currently manufactures.The group decides that they need to eliminate the complete industrial product line of ice chests,and plan to do so by letting the product decline without any changes in the marketing strategy or product.The group also decides to delete Polar's line of personal thermal underwear,however this product is to be discontinued within the week due to its unprofitability.While discussing these strategies,the group has also uncovered several customer groups for which new products could be developed.The managers decide to assemble a group of people from all functional areas of the company and give them the responsibility for all aspects of the new-product development. -Refer to Scenario 11.2.Polar management is currently in which stage of new product development?