Marketing Quiz part 2

A group of managers has been assigned the task of developing a new product. They are now in the process of assessing several ideas to determine whether they are consistent with the firm's overall objectives and resources. The managers are at what stage of the new-product development process?

screening

During the decline stage of the product life cycle,

sales rapidly decrease

Your company has a product that is struggling in its market. However, the product appears to have some strength left that can be exploited. Which of the following product deletion actions would be most appropriate for the product?​

Reduce the price and implement a run-out strategy.

If Subway made an agreement allowing another company to use its brand name on a new supermarket ready-to-eat sandwich, this would be called

brand licensing

​Madeline runs a local ice cream stand and is developing a new type of ice cream sundae. She just sent a press release to the local newspaper and updated her website with information about the new sundae. Based on this information, Madeline is most likely in the _____ stage of the new-product development cycle.

commercialization

Individual-sized boxes and packages that do not require refrigeration are both benefits of the ____ function of packaging.

convenience

Many services have aspects that consumers may never be able to evaluate, even years after the purchase and consumption of the service. These attributes are called

credence qualities

Which of the following service providers are most likely to use demand-based pricing? Cruise ships Answers: a. Dentists b. Doctors c. Lawyers d. Hair stylists

cruise ships

Flo, the spokesperson in Progressive Insurance TV commercials, is used to symbolize friendliness, reliability, and knowledge of the company's products. The part Flo plays in the promotion is designed to address the ____ characteristic of services.

intangability

Sierra decided to try learning ballet. However, after a few weeks she realized she was the worst in the class. Sierra signed up for extra lessons with the instructor. After the lessons, the instructor kept telling Sierra that she was slowly improving. Yet it was hard for Sierra to evaluate whether she was really improving as she could not see a noticeable difference. These ballet lessons are hard to evaluate due to ​

intangibility

Any service provider that offers time-sensitive services receives most of its revenue during

peak demand

Marketers of a particular brand of ice cream have decided to delete their line of ice cream bars. They will do so by letting the product decline and not change the current marketing strategy. This method of deletion is called

phase out

Products for which buyers are willing to spend much time comparing stores and brands for differences in prices, product features, and services are called ____ products.

shopping

A suggested approach to deleting products, in which each product is evaluated periodically to determine its impact on the overall effectiveness of the firm's product mix, is called a(n)

systematic review

When Starbucks introduced their instant coffee brand, Via, the company only sold it in packages of three single-cup units. Starbucks' primary objective for selling Via in three-unit packages rather than single-unit packages was most likely

to encourage the consumer to try the product several times.