CH. 30 Product Planning

During what product life-cycle stage do companies spend a great deal of time and money fighting off competition?

• maturity

• growth

• introdution

• decline

During which product development step do companies consider a product’s potential sales, costs, and production requirements?

• introducing the product

• evaluating customer acceptance

• testing the product

• developing a business proposal

What is the least profitable stage of a product’s life cycle?

• decline

• introduction

• maturity

• growth

During which step of new product development do companies focus on such product characteristics as market size, marketing impact, and effect on the company image?

• idea screening

• idea generation

• product testing

• customer acceptance evaluation

When a company discounts a product and uses advertising phrases such as “compare and save,” the product is in its ____________________ stage in the product life cycle.

• intro

• maturity

• growth

• decline

A product ____________________ includes all the products a company makes or sells.

• modification

• line

• mix

• category

A low-cost method for adding to a business’s product line is by changing slightly an already-existing product. This method is known as product ____________________.

• modification

• extension

• width

• depth

Businesses make decisions about product packaging, labeling, and distribution during the “____________________ the product” step of new product development.

• growing

• generating

• developing

• introducing

to restrict sales of a declining product to certain local areas

• modify

• obsolete

• regionalize

• generate

a business’s group of closely related products

• product item

• product width

• product line

• product depth