CH 10 Marketing

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Product bundling is one approach that may be used in a ______ __________strategy to increase a product's value to customers. (Enter one word in each blank.)

Blank 1: product Blank 2: modification

In the _______ stage of the product life cycle, demand and sales increase, profits peak, and there are more competitors.

Growth

Key characteristics of the maturity stage are which two of the following?

Marketing costs are directed at holding market share. Intense competition on price occurs.

product life cycle

a stage of a new product goes through in the marketplace: introduction, growth, maturity, and decline

A product manager is sometime called a(n) _______ manager.

brand

Who is responsible for managing existing products through the stages of the life cycle?

brand manager

The product ________ of prerecorded music includes product ________ like cassette tapes, CDs, and digital music.

class; forms

Once sales and profits decrease for a product, the product is in the _________________ stage of the product life cycle.

decline

Products in the ________ of the product life cycle tend to consume a disproportionate share of management and financial resources relative to their future worth.

decline

The way a product spreads through the population is known as ______.

diffusion of innovation

introduction stage - product life cycle

during this period, sales grow slowly and profit minimal

Product Blank______ pertains to variations within the product class, where each may have its own product life cycle curve.

form

Product Modification

involves altering more of products characteristics such as quality, performance, or appearance

Modifying the product, modifying the market, and repositioning the product are three ways to manage a product through ______

its life cycle

A graph can be used to show the changes in sales revenue and profit over the stages of the product _____.

life cycle

The product life cycle is ___.

made up of the stages a product goes through in the marketplace, from introduction to decline

In the ________ stage of the product life cycle, most consumers who would buy the product are either repeat purchaser of the item or have tried and abandoned it, making it more challenging to acquire new customers.

maturity

During the introduction stage, total industry profit is Blank______.

minimal

What are the three primary ways to manage a product through its life cycle?

modifying the product modifying the market repositioning the product

The growth stage of product life cycle is characterized by more competition and a ________.

rapid increase in sales

market modification

strategies by which a company tries to find new customers, increase a product's use among existing customers, or create new use situations

The different stages a product goes through during its existence is known as Blank_____

the product life cycle

Decline stage

when sales drop


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