WorksheetsMKT101_C9
Total questions: 20
Worksheet time: 10mins
What are the two ways that a company can obtain new products?
line extension and brand management
internal development and brand management
new-product development and acquisition
service development and product extension
market mix modification and research and development
Which of the following is NOT a challenge presented by the product life cycle that a firm must face?
All products eventually decline.
Changing tastes, technologies, and competition affect the marketing of the product as it passes through lifecycle stages.
A firm must be good at developing new products to replace aging ones.
A firm must be good at adapting its marketing strategies.
It is difficult to plot the stages as a product goes through them
The creation of a successful new product depends on a company's understanding of its ________ and its ability to deliver ________ to customers.
competitors, distributors, and employees; new styles
customers, brands, products; product images
product, marketing mix, and marketing strategy; functional features
customers, competitors, and markets; superior value
product life cycle, legal responsibilities, and social responsibilities; innovations
Your company decides to use internal sources for developing new product ideas. Which of the following would NOT be consulted?
executives and professionals
company records and data
intrapreneurial programs
suppliers
salespeople
A detailed version of a new idea stated in meaningful customer terms is called a ________
product idea
product concept
product image
product proposal
A ________ is the way consumers perceive an actual or potential product.
product idea
product concept
product image
test market
concept test
In the concept testing stage of new-product development, a product concept in ________ form is presented to groups of target consumers.
physical or symbolic
prototype
final
market-tested
commercial
With what groups do firms conduct concept testing for new products?
suppliers
employees
target customers
manufacturers
competitors
In the ________ stage of new-product development, products undergo rigorous tests to make sure that they perform safely and effectively or that consumers will find value in them.
business analysis
idea generation
concept development and testing
product development
Under what circumstances might it be wise for a company to do little or no test marketing?
when a new product requires a major investment
when management is not sure of the product
when management is not sure of the marketing program
when the product has no substitutes and is new in its category
when the costs of developing and introducing the product are low
The major purpose of test marketing is to provide management with the information needed to make a final decision about ________
how to develop a market strategy
which market to compete in
whether to launch the new product
how to compete in the market
how long to compete in the market
________ is the product life cycle period when sales fall off and profits drop.
Introduction
Growth
Maturity
Decline
Development
Some products that have entered the decline stage have been cycled back to the growth stage through ________.
promotion or repositioning
concept testing
business analysis
innovation management
customer-centered product development
All of the following are accurate descriptions of a style product, EXCEPT which one?
Style products appear in home, clothing, and art.
Once a style is invented, it may last for generations.
A style has a cycle showing several periods of renewed interest.
Styles last only a short time and tend to attract only a limited following.
Styles are basic and distinctive modes of expression
In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?
growth
product development
maturity
introduction
adoption
Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers?
growth
decline
maturity
phase-in
adoption
Your firm added three new products earlier this year to increase variety for customers. Two of them failed to reach even minimal sales. Which of the following is LEAST likely to have been the cause of their failure?
The products were priced too high.
The products were advertised incorrectly.
Competitors fought back harder than expected.
Research was too extensive.
The product launch was ill-timed.
Flurrbies, a winter accessory which fell in and out of favorability with customers quickly, are an example of a ________
style
fashion
fad
product idea
market strategy
Malibu Beach Parties finds that the tastes and preferences of its customers change more rapidly than in the past. The manager should constantly look for external ideas from customers, suppliers, and the competition.
True
False
Blair Housewares wants to add new lines of products to its 46-store chain. Managers are correct in believing that the purpose of idea generation is to create a few ideas, and the purpose of succeeding stages is to increase that number.
True
False
