MKT Exam 3 Moore Chapter 8
maturity
Modifying the market, product offering, or marketing mix is a product strategy in the ________ phase.
introduction stage
The __________ is the PLC stage in which a new product is first distributed and made available for purchase.
decline stage
The __________ is the PLC stage in which a product's sales fade away.
maturity stage
The __________ is the PLC stage in which a product's sales growth slows or levels off.
growth stage
The __________ is the PLC stage in which a product's sales start climbing quickly.
marketing strategy development
The stage of the new product development process in which a marketer will determine the product's planned price, distribution, and marketing budget is the ______________ stage.
Commercialization
To encourage the trial, the marketing team spent 50% of its marketing budget on couponing and another 30% on sampling during which phase of the new product development process?
Test marketing
While on vacation, you notice a product in the grocery store that you've never seen before. After doing some research, you find that the product is only temporarily available in the geographic location where you were. Which stage of the new product development process is this product most likely in?
idea generation
Your company decides to use broad communities of people in its new product innovation process. Which step of the new product process is the company most likely in?
Customer-centered new product development
__________ focuses on finding new ways to solve customer problems and create more customer-satisfying experiences.T
Team-based new product development
__________ involves various company departments working closely together, overlapping the steps in the product development process to save time and increase effectiveness.
Fashion
__________ is a currently accepted or popular style in a given field.
Product concept
__________ is a detailed version of a new product idea stated in meaningful consumer terms.
idea generation
General Mills actively researches people who don't buy their products to find out why they are not adopters. This practice is most likely to occur during which phase of the new product development process?
customer-centered
In the video, Mark Addicks, the Chief Marketing Officer of General Mills, discussed how the company carefully researches consumers and how it spends its day actively seeking opportunities wherein consumers' needs are not yet satisfied by existing products. This discussion exemplifies __________ new product development.
the product life cycle (or PLC)
Marketing Manager Joe Driscoll stated that the company believes that all brands and product categories can be reinvigorated, actively using cross promotions during the latter stages of __________.
A fad
__________ is a temporary period of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity.
Crowdsourcing
__________ is inviting broad communities of people—customers, employees, independent scientists and researchers, and even the public at large—into the new product innovation process.
Idea screening
__________ is scanning new product ideas to spot good ideas and drop poor ones as soon as possible.
Commercialization
A marketer is determining how much advertising should be spent on a potential new product and where and when to introduce the product to the market. Which stage of the new product process is this product most likely in?
product development
In their research, Fiber One product managers consistently heard that the awful taste of fiber was a real barrier for many consumers, even though they realized they needed more fiber in their diets. So, during the __________ phase of the new product development process, the team at Fiber One tested different product formulations for its new Fiber One bars to ensure the product achieved the optimum taste-fiber trade-off.
growth
Offering product extensions, service, and warranty is a product strategy in the __________ phase.
Idea screening
Your boss has asked you and your marketing team to read through hundreds of new product ideas and separate those that are feasible from those that are not. Which stage of the new product development process are you most likely engaged in?
Marketing strategy development
__________ is designing an initial marketing strategy for a new product based on the product concept.
Product development
__________ is developing the product concept into a physical product to ensure that the product idea can be turned into a workable market offering.
Concept testing
__________ is testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal.
New product development
__________ is the designing of original products, product improvements, product modifications, and new brands through the firm's own efforts.
Idea generation
__________ is the systematic search for new product ideas.
Style is __________.
a basic and distinctive mode of expression
Concept testing is __________.
testing new product concepts with a group of target consumers to find out if the concepts have strong consumer appeal
