Marketing - ch. 8

________ are industrial products that aid in the buyer's production or operations, including installations and accessory equipment a) Materials b) Parts c) Capital items d) Specialty items e) Supplies

Capital items

What are the stages, in correct order, of the product life cycle? a) Introduction, Maturity, Growth, and Decline b) Introduction, Growth, Decline, and Maturity c) Introduction, Growth, Maturity, and Decline d) Growth, Introduction, Maturity, and Decline e) Decline, Introduction, Growth, and Maturity

Introduction, Growth, Maturity, and Decline

________ involves designing and producing the container or wrapper for a product. a) Packaging b) Product line c) Service d) Branding e) Labeling

Packaging

________ means that services cannot be seen, tasted, felt, heard, or smelled before they are bought. a) Service inseparability b) Service variability c) Service intangibility d) Service perishability e) Service heterogeneity

Service intangibility

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 ________. a) business feasibility plan b) market strategy development c) business analysis d) product acceptance e) proposal

business analysis

Once managers of The Grecian Urn have decided on their product concept and marketing strategy, they can evaluate the business attractiveness of the proposal in the ________ stage of the new-product development process. a) business feasibility b) feasibility study c) business analysis d) product acceptance e) concept testing

business analysis

The story about Honda showing the wide array of product lines is to demonstrate the effectiveness of building a brand by focusing on its: a) competitors b) price strategies c) brand equity d) core competency e) promotion mix

core competency

The creation of a successful new product depends on a company's understanding of its ________ and its ability to deliver ________ to customers. a) competitors, distributors, and employees; new styles b) customers, brands, products; product images c) customers, competitors, and markets; superior value d) product, marketing mix, and marketing strategy; functional features e) product life cycle, legal responsibilities, and social responsibilities; innovations

customers, competitors, and markets; superior value

Product mix ________ refers to the number of versions offered of each product in the line. Crest toothpaste comes in 13 varieties, ranging from Crest Multicare to Crest Baking Soda formulations. a) length b) depth c) height d) width e) perimeter

depth

Which stage of the typical consumer product life cycle do you see many competitors entering the market with the same or similar products? a) product development b) introduction c) maturity d) growth e) decline

growth

Berkowitz Piano Company can expand its product line in one of two common ways. Which of the following is one of those ways? a) internal marketing b) line filling c) product mixing d) social marketing e) line mixing

line filling

Which of the following best represents the options a company has when a product is declining? a) maintain or harvest the product b) harvest or drop the product c) maintain, harvest, or drop the product d) maintain or pioneer the product e)pioneer, harvest, or maintain the product

maintain, harvest, or drop the product

When a product enters the maturity stage, the company should consider ________. a) harvesting the product b) modifying the product, market, or marketing mix c) divesting the product d) maintaining the product e) dropping the product

modifying the product, market, or marketing mix

What are the two ways that a company can obtain new products? a) line extension and brand management b) internal development and merger c) new-product development and acquisition d) service development and product extension e) market mix modification and research and development

new-product development and acquisition

In the ________ stage of new-product development, products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them. a) business analysis b) idea generation c) concept development and testing d) product development e) marketing mix

product development

A ________ is a group of products that are closely related because they function in a similar manner, are sold to the same customer groups, are marketed through the same type of outlets, or fall within given price ranges. a) product line b) line extension c) private brand d) convenience product e) product bandwidth

product line

Some products that have entered the decline stage have been cycled back to the growth stage through ________. a) repositioning b) concept testing c) business analysis d) innovation management e) customer-centered product development

repositioning

What are the two main focuses of the product life cycle theory? a) distributors and suppliers b) competitors and costs c) sales and profits d) profits and target markets e) target markets and competitors

sales and profits

The stage of new-product development where the product and marketing program are tested in realistic market settings is called_______. a) idea generation b) concept testing c) product concept d) commercialization e) test marketing

test marketing

One of the ways to promote new product feature is to add ___________. a) the cost b)the service c) the latest technology d) the line extension e) the firm reputation

the latest technology