marketing chapter 9 quiz
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
Most products today are in which stage of their product life cycle?
Maturity
Which of the following statements concerning new products is correct?
Modified and improved products are considered new.
At which stage of the new product development process is a physical product first developed?
Product development
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
When Dr. Footcare developed and launched a revolutionary new walking shoe, he knew that during the introductory stage of the product life cycle (PLC) __________.
sales would be slow and profits nonexistent