DC Mkt - Ch 8

Front

A product has more competition during the __________ stage than in any other stage in its life cycle.

Back

market maturity

Front

Hannah and Ellen rely on consistent messages received via word of mouth and are older and more conservative than other customers of Product X. Categories: early majority, late majority, laggards, innovators

Back

late majority

Front

In which phase of the product life cycle is customer awareness getting stronger and some buzz occurring in the marketplace?

Back

market growth

Front

In what phase of the product life cycle was Thermacare Heat Wrap when Procter & Gamble decided to sell the brand? Options: growth, decline, maturity, failure

Back

decline

Front

The __________ are 3–5% of consumers who like to try new ideas and are willing to take risks. They tend to be relatively educated, and capable and confident in assessing information about a product on their own.

Back

innovators

Front

The __________ are a group of approximately 10–15% of the population who is so influential that the loss of one of these customers costs the firm more than the loss of later adopters.

Back

early adopters

Front

The stage of the product life cycle where sales and profits drop and new products replace older generations is called

Back

decline.

Front

There is less risk with __________ new products than with __________ new products.

Back

incrementally, really

Front

What growth strategy combines new markets and new products?

Back

diversification

Front

What term refers to the group of people who are the most risk averse, skeptical of new products, and stereotypically lower in income?

Back

laggards