Question 1

When Clorox introduced bleach in a no-drip bottle,the firm was taking action consistent with its product being in the ____ stage of the product life cycle.

Accepted Answer

The introduction stage is characterized by low sales and high costs as the product is being launched into the market. The growth stage sees sales picking up and profits increasing. Stabilization occurs when sales growth starts to slow down, and the product reaches its peak level of sales. Maturity follows as the product's sales growth rate slows to a crawl, and profits level off. Finally, the decline stage occurs when the product's sales start to decline as consumers move on to newer and better products. Since Clorox introduced its no-drip bleach in response to its existing product's maturity, we can infer that the product is in the maturity stage. Therefore, the best answer is D.

Question 2

Sales usually start to decline during the ____ stage of the product life cycle.

Accepted Answer

The answer of Sales usually start to decline during the...

Question 3

During the maturity stage

Accepted Answer

During the maturity stage, some competitors may be forced out as the market becomes saturated, leaving fewer players. However, product modifications, changes in marketing strategies, and advertising expenditures may still be necessary to maintain market share and continue to generate sales. There may also be less emphasis on changing a product's price, as the market becomes more stable and price competition may not be as important.

Question 4

Heinz promoting its vinegar as an effective cleaner for wall,glass,kitchen,and bathroom surfaces would most likely be a strategy for the ____ stage of the product life cycle.

Accepted Answer

Promoting a product as a versatile cleaner for various surfaces is a typical strategy for the maturity stage, where products need to differentiate themselves from competitors and find new uses to maintain sales and profitability. At this stage, the market is saturated, and growth rates are slowing down, so companies need to focus on retaining their existing customers and expanding their market share by appealing to new segments or needs. The introductory stage is characterized by low sales, high costs, and heavy marketing expenses to create awareness and trial, while the growth stage is a period of rapid expansion and competition, where companies need to invest in production, distribution, and advertising to sustain growth. The decline stage is a phase of decreasing demand, profitability, and relevance, where products are often replaced by newer or better alternatives, and companies may exit or harvest the market without investing further. Finally, the competitive stage refers to a situation where several companies are competing for the same market, using different strategies to gain an advantage, but the product life cycle stage depends on the specific context and evolution of each product.

Question 5

During the decline stage of the product life cycle,

Accepted Answer

The answer of During the decline stage of the product...

Question 6

When a product experiences an increase in the number of competitors,it is usually in the _____ stage of the product life cycle;however,when that competition becomes intense,it is in the ____ stage.

Accepted Answer

When a product experiences an increase in the number of competitors, it is usually in the growth stage of the product life cycle as the product is gaining market acceptance and attracting new entrants. However, when that competition becomes intense, it is in the maturity stage as the market becomes saturated and competitors start to cut prices and increase promotional activities to protect their market share. Hence, Option D is the correct answer.

Question 7

When are marketers least likely to change a product's design,style,or other attributes?

Accepted Answer

During the decline stage of a product's life cycle, marketers are least likely to invest in changing a product's design, style, or other attributes because the product is already experiencing reduced demand and profitability.

Question 8

A common business objective of the ____ stage of the product life cycle is to generate cash flow.

Accepted Answer

During the maturity stage, the product is well-established in the market, and the focus is on maximizing cash flow and profits before the product enters the decline stage.

Question 9

Dish Network cut back advertising expenditures to minimum levels and reduced the number of channel members for its industrial satellite product.These actions indicate that its product is in the ____ stage of its life cycle.

Accepted Answer

Dish Network cutting back advertising expenditures and reducing the number of channel members for its industrial satellite product indicates that the product is in the decline stage of its life cycle. This is because the company is likely trying to minimize expenses and maintain profitability as the product's sales and popularity decrease.

Question 10

The producers of Schick razor blades use a marketing strategy that includes large advertising expenditures and more price flexibility for the various types of blades offered.Based on this example,razor blades are in the ____ stage of the product life cycle.

Accepted Answer

The large advertising expenditures and more price flexibility indicate that the product is in the maturity stage of the product life cycle, where heavy competition often leads to increased promotion and price wars. This stage is characterized by a slowing of sales growth, but still significant sales volume.

Question 11

When banks add new services during the maturity stage,the objective they are most likely trying to achieve is

Accepted Answer

During the maturity stage, banks often face intense competition and must find ways to differentiate themselves from their competitors. Adding new services is one way to increase their share of the customer and retain existing customers. This, in turn, can help maintain or increase their market share and generate cash flow. Pruning items from the product line or filling geographic gaps may be more relevant during the introduction or growth stages, respectively.

Question 12

Electronics Pro is a company that manufactures CD drives for laptop computers which are sold to major computer producers.Electronics Pro realizes that CD drives are most likely in the decline stage of the product life cycle.What are the two options this company has with regard to its CD drive product?

Accepted Answer

Electronics Pro can either try to extend the product's life by making improvements or finding new uses, or they can accept that the decline is inevitable and plan for its phase-out.

Question 13

A firm with a product in the decline stage of the product life cycle may decide to gradually reduce marketing expenditures and realign its marketing mix to one that requires fewer resources.This approach is called

Accepted Answer

Harvesting is the process of gradually reducing marketing expenditures and reallocating resources to more profitable products or areas of the business. This is a common strategy for products in the decline stage of the product life cycle, as it allows the firm to maximize profits while minimizing costs. By slowly reducing marketing expenses and shifting resources to other areas of the business, the firm can capture as much value as possible from the product before phasing it out completely.

Question 14

Weyerhaeuser is evaluating its complete product mix.It wishes to decrease some of its marketing expenditures and streamline its product offerings.Weyerhaeuser will most likely look at products in the ____ stage of the product life cycle as possibilities for elimination.

Accepted Answer

Products in the decline stage of the product life cycle are often considered for elimination because they typically experience reduced sales and may not be profitable anymore, making them prime candidates for reduction in marketing expenditures and streamlining of product offerings.

Question 15

Mercedes recognized it needed to revitalize its brand and attract different market segments.These are indications that Mercedes' products were primarily in the ____ stage of the product life cycle.

Accepted Answer

The answer of Mercedes recognized it needed to revitalize its...

Question 16

The makers of Tide Detergent recently created "pods" of the product,characterized by a small,square,plastic-wrapped packet that was easier to use.Since it is packaged in these square pods,it requires no measuring and can be transported more easily if one is carrying clothes to a laundromat.This change in packaging is a strategy that can most likely help boost sales in the ____ stage of the product life cycle.

Accepted Answer

Introducing new packaging like pods can rejuvenate interest and extend the product's life during the maturity stage by differentiating it from competitors and appealing to convenience-seeking consumers.

Question 17

Which of the following stages of the product life cycle is likely to see dealers offered promotional assistance from the producer?

Accepted Answer

The answer of Which of the following stages of the...

Question 18

One of Cole's responsibilities as a marketing manager for a motorcycle parts manufacturer is to maintain market share.Cole believes that the company's products are most likely in the maturity stage of the product life cycle.In order to maintain market share,Cole should suggest that the company requires

Accepted Answer

In the maturity stage of the product life cycle, it is important to maintain or increase market share. This can be achieved through moderate to large advertising expenditures to differentiate the company's products from competitors and maintain brand loyalty. It is also important to invest in product development to keep up with changing customer needs and preferences. Moderate price increases may be acceptable, but price decreases could lead to a price war with competitors and ultimately reduce profits. Distribution expenditures may also be necessary but are not as critical as advertising and product development.

Question 19

The stage of the product life cycle when marketers consider eliminating products that are not contributing to profitability or the overall effectiveness of a product mix is the ____ stage.

Accepted Answer

The decline stage is characterized by decreasing sales and profitability, and at this point, marketers must consider eliminating products that are not contributing to overall profitability or effectiveness of the product mix. This can help focus resources on more successful products and improve overall profitability.

Question 20

When Sony realized its CD players were in the decline stage,it decided to immediately withdraw all of its marketing support from these declining products,an approach known as

Accepted Answer

The answer of When Sony realized its CD players were...

Quiz 11: Product Concepts