Marketing Chapter 9 Warm-Up and Quiz

¡Supera tus tareas y exámenes ahora con Quizwiz!

Which of the following statements regarding the growth stage of the product life cycle is correct?

Companies face a trade-off between high market share and high profits.

Which of the following statements concerning new products is correct?

Modified and improved products are considered new.

Which of the following statements is true regarding standardizing products for international​ markets?

Standardization decreases product​ design, manufacturing, and marketing costs.

Which of the following statements regarding standard test marketing is correct?

Test marketing can be costly and delay commercialization of the product.

Which of the following statements regarding socially responsible product decisions is correct?

The government may prevent companies from adding products through acquisitions if the effect threatens to lessen competition.

During the idea generation stage of the new product development​ process, it is important that​ __________.

companies create a large number of ideas

One recent development in generating new product ideas is for a company to invite broad communities of people—such as​ employees, customers, and even the public at large=—into the innovation process. This is known as​ __________.

crowdsourcing

Through a company invites broad communities of people into the innovation process.

crowdsourcing

Companies should take a holistic approach to new product development. This means that the process should be​ __________.

customer-centered, team-based, and systematic

A firm improves product quality and adds new product features and models. It also shifts some advertising from building product awareness to building product conviction and purchase. At which stage of the product life cycle would this be a recommended​ strategy?

growth

New product development starts with _________

idea generation

At which stage of the new product development process is a physical product first developed?

product development

Marketers should carefully consider public policy issues and regulations regarding all of the following except​ __________.

product development

________ is the first stage of the product life cycle.

product development

If the product passes both the concept test and the product test, the next step is ________

test marketing


Conjuntos de estudio relacionados

Chapter 1 Mc Graw Hill Physical Science

View Set

Growth ad development of a pre-schooler Chapter 27

View Set

UWorld Safety and Infection Control

View Set

Ch. 10: International Trade Management

View Set

Chapter 7 Virtue Ethics: Be a Good Person

View Set

PREP U: Chapter 13: Nursing Management: Patients With Hypertension

View Set