Question 1

Why do products fail?

Accepted Answer

Products can fail for a multitude of rea

Question 2

Which of the following best defines the interest stage in the product adoption process?

Accepted Answer

A)  The buyer tries to find the product in a retail store. 
B)  The buyer considers the benefits and determines whether to try the product. 
C)  The buyer tries the product to determine its usefulness. 
D)  The buyer seeks information and is receptive to learning about the product. 
E)  The buyer uses objective sources to learn about the product. 
A)  The buyer tries to find the product in a retail store. 
B)  The buyer considers the benefits and determines whether to try the product. 
C)  The buyer tries the product to determine its usefulness. 
D)  The buyer seeks information and is receptive to learning about the product. 
E)  The buyer uses objective sources to learn about the product.

Question 3

The difference between absolute and relative product failure is

Accepted Answer

A)  absolute product failure can be fixed by repositioning or improving the product,whereas relative product failure is permanent. 
B)  relative product failure loses money on its investment,whereas absolute product failure returns a small profit. 
C)  relative product failure is the result of poor timing,whereas absolute product failure is the result of the lack of the ability to provide benefits that satisfy customers' desires. 
D)  absolute product failure is caused by design problems,whereas relative product failure is caused by poor promotion or distribution. 
E)  absolute product failure results in a loss on the investment and is deleted from the product mix,whereas relative product failure results in a small profit,and improvements or repositioning can create success later. 
A)  absolute product failure can be fixed by repositioning or improving the product,whereas relative product failure is permanent. 
B)  relative product failure loses money on its investment,whereas absolute product failure returns a small profit. 
C)  relative product failure is the result of poor timing,whereas absolute product failure is the result of the lack of the ability to provide benefits that satisfy customers' desires. 
D)  absolute product failure is caused by design problems,whereas relative product failure is caused by poor promotion or distribution. 
E)  absolute product failure results in a loss on the investment and is deleted from the product mix,whereas relative product failure results in a small profit,and improvements or repositioning can create success later.

Question 4

During the growth stage,promotion costs rise as a percentage of total sales.

Accepted Answer

A) True 
 B)False

Question 5

A distributor of plumbing supplies purchases a desktop computer to aid in inventory control.This computer is an example of which type of business product?

Accepted Answer

A)  Raw material 
B)  Installations 
C)  Accessory equipment 
D)  Component part 
E)  Process material 
A)  Raw material 
B)  Installations 
C)  Accessory equipment 
D)  Component part 
E)  Process material

Question 6

Products which are relatively inexpensive and frequently purchased with minimal effort are classified as ____ products.

Accepted Answer

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

Question 7

Intense price wars are likely to occur during the growth stage of the product life cycle as competitors attempt to gain market share.

Accepted Answer

A) True 
 B)False

Question 8

The four major stages of a product life cycle include

Accepted Answer

A)  prosperity,recession,depression,and recovery. 
B)  specialty,convenience,shopping,and unsought goods. 
C)  decline,stabilization,exposure,and growth. 
D)  introduction,growth,maturity,and decline. 
E)  awareness,interest,trial,and adoption. 
A)  prosperity,recession,depression,and recovery. 
B)  specialty,convenience,shopping,and unsought goods. 
C)  decline,stabilization,exposure,and growth. 
D)  introduction,growth,maturity,and decline. 
E)  awareness,interest,trial,and adoption.

Question 9

The depth of a product mix is measured by the average number of product types in a product line.

Accepted Answer

A) True 
 B)False

Question 10

When a successful brand such as Frito-Lay develops a new product,it will always succeed.

Accepted Answer

A) True 
 B)False

Question 11

Use the following to answer the questions.
Gillette shaving razors were first manufactured in 1895.Over the years,Gillette made improvements on their razors offering many "firsts" such as the Mach3,the Sensor,and the Fusion.For many years,women were forced to use razors designed primarily for men,but often marketed to women by offering them in different colors and with minimal modifications.In 1998 Gillette developed the Venus razor,based on the Mach3 but made specifically for women.Gillette promoted the Venus razor heavily,with television ads and other forms of media.The Gillette product line,now owned by Procter & Gamble,continues to introduce new versions of the Venus,such as the Venus Embrace,which has additional blades and other modifications.
-Refer to Scenario 10.1.When Gillette developed the Venus razor in 1998,in which stage of the product life cycle was the Venus?

Accepted Answer

A)  Introduction 
B)  Growth 
C)  Profit 
D)  Maturity 
E)  Decline 
A)  Introduction 
B)  Growth 
C)  Profit 
D)  Maturity 
E)  Decline

Question 12

A light bulb can be considered all of the following except

Accepted Answer

A)  a consumer product. 
B)  a business product. 
C)  either a consumer product or a business product. 
D)  a business product if it is used to light an assembly line in a factory. 
E)  a consumer product if it is used to light the office of the board of directors. 
A)  a consumer product. 
B)  a business product. 
C)  either a consumer product or a business product. 
D)  a business product if it is used to light an assembly line in a factory. 
E)  a consumer product if it is used to light the office of the board of directors.

Question 13

During the introduction stage of a successful product,profits are usually

Accepted Answer

A)  at their highest point. 
B)  negative and decreasing. 
C)  negative and increasing. 
D)  positive and increasing. 
E)  declining. 
A)  at their highest point. 
B)  negative and decreasing. 
C)  negative and increasing. 
D)  positive and increasing. 
E)  declining.

Question 14

In the awareness stage of the product adoption process,the buyer seeks information about the product.

Accepted Answer

A) True 
 B)False

Question 15

When banks add new services during the maturity stage,the objective they are most likely trying to achieve is

Accepted Answer

A)  pruning items from the product line. 
B)  generating cash flow. 
C)  maintaining their market share. 
D)  filling geographic gaps. 
E)  increasing their share of the customer. 
A)  pruning items from the product line. 
B)  generating cash flow. 
C)  maintaining their market share. 
D)  filling geographic gaps. 
E)  increasing their share of the customer.

Question 16

As the production manager of an engineering firm,you went out and bought a metal cutting machine.What you have purchased can best be classified as a

Accepted Answer

A)  raw material. 
B)  processed component. 
C)  component part. 
D)  service. 
E)  business product. 
A)  raw material. 
B)  processed component. 
C)  component part. 
D)  service. 
E)  business product.

Question 17

In which stage of the product life cycle do profits peak?

Accepted Answer

A)  Introduction 
B)  Growth 
C)  Decline 
D)  Termination 
E)  Maturity 
A)  Introduction 
B)  Growth 
C)  Decline 
D)  Termination 
E)  Maturity

Question 18

What measure of the product mix involves the number of product lines a company offers?

Accepted Answer

A)  Quality 
B)  Consistency 
C)  Depth 
D)  Width 
E)  Size 
A)  Quality 
B)  Consistency 
C)  Depth 
D)  Width 
E)  Size

Question 19

Service,repair work,and accessories may be important considerations in a consumer's decision to purchase a particular shopping product.

Accepted Answer

A) True 
 B)False

Question 20

Profits decline in the maturity stage,largely because of increased competition.

Accepted Answer

A) True 
 B)False

Exam 10: Product Decisions

Why do products fail?

Which of the following best defines the interest stage in the product adoption process?

The difference between absolute and relative product failure is

During the growth stage,promotion costs rise as a percentage of total sales.

A distributor of plumbing supplies purchases a desktop computer to aid in inventory control.This computer is an example of which type of business product?

Products which are relatively inexpensive and frequently purchased with minimal effort are classified as ____ products.

Intense price wars are likely to occur during the growth stage of the product life cycle as competitors attempt to gain market share.

The four major stages of a product life cycle include

The depth of a product mix is measured by the average number of product types in a product line.

When a successful brand such as Frito-Lay develops a new product,it will always succeed.

A light bulb can be considered all of the following except

During the introduction stage of a successful product,profits are usually

In the awareness stage of the product adoption process,the buyer seeks information about the product.

When banks add new services during the maturity stage,the objective they are most likely trying to achieve is

As the production manager of an engineering firm,you went out and bought a metal cutting machine.What you have purchased can best be classified as a

In which stage of the product life cycle do profits peak?

What measure of the product mix involves the number of product lines a company offers?

Service,repair work,and accessories may be important considerations in a consumer's decision to purchase a particular shopping product.

Profits decline in the maturity stage,largely because of increased competition.

Strategic Marketing Management

Developing and Implementing Marketing Strategies

The Global Marketing Environment

Information for Marketing Decisions

Selecting Target Markets

Consumer Behavior

Business Buying Behavior

International Marketing

Digital Marketing and Social Media

Strategic Product Management

Services Marketing

Strategic Management of Branding and Packaging

A Supply Chain Management and Marketing Channels

B Supply Chain Management and Marketing Channels

A Retailing,wholesaling and Direct Marketing

B Retailing,wholesaling and Direct Marketing

Integrated Marketing Communications

Advertising and Publicrelations

Personal Selling and Sales Promotion

Strategic Pricing Management

Pricingdecisions

Global Issues,social Responsibility and Marketing

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