BUAD 332 Exam 2 chapter 8

Pataasin ang iyong marka sa homework at exams ngayon gamit ang Quizwiz!

​___________________ are the two ways firms can obtain new products.

Acquisitions and new product development

At which step does a company perform a review of the​ sales, costs, and profit projections for a new product to determine whether the new product is likely to satisfy​ objectives?

Business analysis

Marketers must consider potential product issues related to social responsibility. Of the​ following, which is NOT one of the product issues associated with social​ responsibility?

Product differentiation and positioning

To be more socially​ responsible, some companies are appointing​ _____________. Their job is to protect consumers from harm and the company from liability by proactively ferreting out potential product problems.

product stewards

The stages of the product life cycle are​ ______________________________.

product​ development, introduction,​ growth, maturity, and decline

Marketers can apply the​ ________ as a useful framework for describing how products and markets work and help develop good marketing strategies for the different​ life-cycle stages.

product​ life-cycle concept

Companies find and develop new product ideas from a variety of sources. Which of these is an internal source for new product​ ideas?

​R&D

Which of the following statements regarding the marketing of international products and services is​ correct?

Because markets and consumers around the world differ​ widely, companies must usually adapt their product offerings in different world markets.

New product development consists of eight sequential steps. Which step reduces the number of ideas based on the​ company's criteria?

Idea screening

A new product may fail for many reasons. Which of the following is NOT one of​ them?

Rapid market acceptance

Many companies are now developing​ ________ programs to generate new product ideas.

crowdsourcing or​ open-innovation

Which stage of the product life cycle normally lasts longer than the previous stages and poses strong challenges to marketing​ management?

Maturity

Which of the following would be an appropriate strategy in the maturity stage of the product life​ cycle?

Modify the​ market, product​ offering, and marketing mix.

The new product development process consists of sequential steps. The first step is​ _______ and the last step is​ ______________.

idea​ generation; commercialization

The product development process starts with​ ________. Next comes​ ________, which reduces the number of ideas based on the​ company's own criteria.

idea​ generation; idea screening

In the new product development​ process, ideas that pass the idea screening step continue through​ ________. Strong concepts proceed to​ ________.

product concept​ development; marketing strategy development

External sources for new product ideas include​ _________.

​competitors, distributors and​ suppliers, and customers

Social responsibility includes public policy issues and regulations involving​ _________________, and product warranties.

acquiring or dropping​ products, patent​ protection, product quality and safety

Because markets and consumers worldwide differ​ widely, companies usually respond to these differences by​ ________.

adapting their product offerings

All products have a life cycle. The sales of a typical product follow​ __________________, which is made up of five stages.

an​ S-shaped curve

The advantages of standardizing products and services for international markets include​ _______________, lower manufacturing​ costs, and lower marketing costs.

consistent global​ image, lower product design costs

When Dr. Lawncare developed his revolutionary new weed​ killer, he expected​ that, during the introductory stage of the product life​ cycle, ___________.

sales would be slow and with negative or low profits

The first part of a marketing strategy statement describes the​ ________ of a new product.

target market

​Ideally, a company must carry out strong new product planning and set up a systematic new product development process that is​ _________ to find and grow new products.

​customer-driven


Kaugnay na mga set ng pag-aaral

N125 HESI Adaptive Quizzing - Health Assessment I

View Set

Chapter 4 - Business Entities - Fiduciary Duty, Shareholder Litigation, and the Business Judgment Rule

View Set

Bio Introductory Physiology 2021

View Set

Series 7 Exam : Municipal Securities

View Set

Apush Amsco Chapter 23 and 24 Extra Credit

View Set

Module 8, Week 1 Big Idea Words and Critical Vocabulary

View Set