BUAD Ch 8 quiz

Lakukan tugas rumah & ujian kamu dengan baik sekarang menggunakan Quizwiz!

Which of the following is NOT a product life cycle​ (PLC) stage? A.Introduction B.Decline C.Commercialization D.Growth E.Maturity

Commercialization

Which of the following statements about new product development strategy is​ correct? A.New products are not a major source of growth for companies. B.A new product will succeed as long as it is priced correctly. C.Good advertising creates successful new products. D.Innovation can be very expensive and very risky. E.New products are usually successful because consumers like new things.

Innovation can be very expensive and very risky.

​__________________ represent an internal source of new product ideas for a company. A.Distributors B.Intrapreneurial programs C.Competitors D.Customers E.Suppliers

Intrapreneurial programs

Which stage of the PLC is characterized by peak​ sales, low costs per​ customer, high​ profits, mainstream​ adopters, and a stable number of competitors that are beginning to​ decline? A.Growth B.Maturity C.Product development D.Decline E.Introduction

Maturity

Which stage of the product life cycle normally lasts longer than the others and poses great challenges to marketing​ management? A.Growth B.Introduction C.Maturity D.Product development E.Decline

Maturity

Which of the following statements concerning new products is​ correct? A.To be considered​ new, the product must be something consumers have not seen before. B.Modified and improved products are considered new. C.A modified product is not considered a new product. D.Products that are merely improved in some way are not considered new. E.Most new products succeed within two years of their introduction.

Modified and improved products are considered new.

​______________________ is the step of the new product development process during which a physical product is first developed. A.Test marketing B.Marketing strategy development C.Idea generation D.Product development E.Concept development and testing

Product development

_________________ protect consumers from harm and the company from liability by proactively ferreting out potential product problems. A.Ombudsmen B.Product managers C.Brand managers D.Product stewards E.Attorneys

Product stewards

Which of the following would be an appropriate strategy during the growth stage of the product life​ cycle? A.Shift some advertising from building product awareness to building product conviction and purchase. B.Use promotional spending to inform consumers and get them to try the product. C.Modify the​ market, product​ offer, and marketing mix. D.Produce basic versions of the product and focus on selling to those buyers who are the most ready to buy. E.Spend a lot of money on product​ improvement, promotion, and distribution.

Spend a lot of money on product​ improvement, promotion, and distribution.

Which of the following statements is true regarding standardizing products for international​ markets? A.Standardization increases product​ design, manufacturing, and marketing costs. B.Standardization decreases product​ design, manufacturing, and marketing costs. C.Markets and consumers all over the world are​ alike, so a company should always standardize international products. D.Standardization helps a company develop a different image in different countries. E.Standardization ensures that products will succeed in foreign markets.

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

Which of the following statements regarding socially responsible product decisions is​ correct? A.Safety legislation has been passed to regulate chemical​ substances, drugs, and​ poisons, but not​ toys, automobiles, or fabrics. B.Manufacturers are generally not concerned with product liability. C.Companies can safely ignore patent laws. D.When companies drop​ products, they do not have any obligations to​ suppliers, dealers, and customers. E.The government may prevent companies from adding products through acquisitions if the effect threatens to decrease competition.

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

Which of the following statements is true regarding product life cycle​ curves? A.Once a product reaches the decline​ stage, it cannot be recycled back to growth. B.Marketing strategies do not change for different life cycle stages. C.Managing products through their life cycle is an easy task. D.The sales of a typical product follow an​ S-shaped curve made up of five stages. E.All products follow the traditional​ five-stage PLC model.

The sales of a typical product follow an​ S-shaped curve made up of five stages.

Which of the following statements is correct concerning service marketers going​ global? A.The trend toward growth of global service companies is expected to continue in the near future. B.Compared with product​ marketers, service marketers do not face any additional challenges when going global. C.Due to the nature of their​ business, professional service firms cannot expand their business to foreign markets. D.One industry that still has not globalized is retailing. E.The growth of global service companies is expected to decline in the near future.

The trend toward growth of global service companies is expected to continue in the near future.

In the early​ 1970s, Gary Dahl sold Pet Rocks. The product had a​ short, temporary period of unusually high sales driven by consumer enthusiasm and immediate product​ popularity, but then sales declined very quickly. The PLC sales pattern for Pet Rocks is known as​ ________________. A.a fad B.a failure C.a fashion D.a normal product life cycle curve E.a style

a fad

A company can obtain new products by buying a whole​ company, a​ patent, or a license to produce someone​ else's product through​ _______________________. A.new product brands B.product improvements C.acquisition D.new product development E.product enhancements

acquisition

After market strategy is​ developed, the next step of the new product development process is​ _______________. A.prototyping B.business analysis C.concept development D.idea generation E.commercialization

business analysis

Goldtone is a multinational communications and information technology corporation. Its principal products are mobile telephones and tablets. It recently announced on its website that customers can suggest ideas for its upcoming product model. Contributors of​ short-listed ideas will be adequately rewarded. In this​ case, Goldtone is using​ ________ to generate new product ideas. A.business analysis B.concept development C.test marketing D.crowdsourcing E.marketing strategy development

crowdsourcing

Crowdsourcing is used in the​ _______________________ step of the new product development process. A.idea generation B.idea screening C.commercialization D.product development E.marketing strategy development

idea generation

New product commercialization takes much thought and planning. The first critical step in the commercialization process is​ ____________________. A.revenue goals B.the target market C.market share goals D.introduction timing E.the value proposition

introduction timing

When a product is in the maturity stage of the​ PLC, the company tries to increase consumption by finding new users and new market segments for its brands. This attempt to increase consumption is known as​ ______________________. A.modifying the market B.market maintenance C.market stimulation D.harvesting the market E.milking the market

modifying the market

Installing an innovation management system to​ collect, review,​ evaluate, and manage new product ideas represents​ a(n) ______________ approach to new product development. A.systematic B.intrapreneurial C.crowdsourced D.sequential E.customer-centered

systematic

When Dr. Lawncare developed his revolutionary new​ solar-powered lawnmower, he expected that during the growth stage of the product life cycle​ ___________. A.there would be lagging adopters B.there would be high costs per customer C.there would few competitors D.the company would see rising profits E.the company could anticipate customers as innovators

the company would see rising profits

To create successful new​ products, a company must​ _______. A.obtain successful products through acquisitions instead of doing internal development B.focus its new product development efforts only on consumers and deliver value C.understand its​ consumers, markets, and competitors and develop products that deliver superior value to customers D.spend more on research and development​ (R&D) than its competitors and understand its consumers E.cut costs to keep the price of new products low while delivering acceptable quality

understand its​ consumers, markets, and competitors and develop products that deliver superior value to customers

Intuit​ Labs, a division of​ Intuit, the accounting and payroll software​ developer, follows a​ "Design for Delight​ (D4D)" development​ philosophy, which states that products should delight customers by providing experiences that exceed expectations. Which new product development approach is Intuit​ using? A.Systematic new product development B.Crowdsourcing C.Marketing strategy development D.Team-based new product development E.Customer-centered new product development

​Customer-centered new product development


Set pelajaran terkait

Salesforce Platform Developer II

View Set

CHAPTER 54 (DRUGS ACTING ON UPPER RESPIRATORY TRACT)

View Set