MKTG 303 - Ch 12

Because a market is saturated, firms may attempt to enter new geographical markets that may be less saturated. For example, pharmaceutical companies are realizing that they need to turn to ____________ for continued growth in the coming years. BRIC countries third-world countries communist countries Germany France

BRIC countries

Which of the following is true of profits in the maturity stage of the product life cycle? They are negative. They are low. They peak or are declining. They are rapidly rising. They are slowing rising.

They peak or are declining.

Barbara is using a test model of her firm's new inline skates to see if they work according to the design specifications. Barbara is involved in test marketing. product launch. alpha testing. target marketing. concept testing.

alpha testing.

One of the potential benefits to a firm of introducing new-to-the-world products or services is cost savings. late majority marketing. establishment of a completely new market. the ability to avoid paying pioneers for new product development. the ability to capitalize on existing consumer preferences.

establishment of a completely new market.

Which of the following is least likely to be a source of ideas for new products? R&D efforts licensing agreements consumer research geodemographic segmentation brainstorming

geodemographic segmentation

When Toyota introduced hybrid cars, there were waiting lists to buy them. Then Honda and a few other manufacturers entered the market, shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle. introduction leveling maturity growth decline

growth

Ron sells commercial-grade tools to building contractors. Whenever he visits his customers, he looks to see if they are using his tools for other tasks or have modified the tools for some other purpose. These customers are __________, who can provide ideas for new and improved products. laggards market testers lead users reverse engineers concept testers

lead users

All of the following groups are included in the diffusion of innovation curve except innovators. non-adopters. late majority. early majority. early adopters.

non-adopters.

In the product development process, what takes place between concept testing and market testing? securing financial backing conducting marketing research brainstorming determining potential ROI performing product development

performing product development

All of the following are included in the four product life cycle stages except introduction. stagnation. maturity. growth. decline.

stagnation.