Question 1

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.
A)maturity
B)growth
C)introduction
D)market reduction
E)decline

Accepted Answer

The answer of The makers of Tide Detergent recently created...

Question 2

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.
A)introduction
B)growth
C)maturity
D)early
E)decline

Accepted Answer

Dish Network's actions suggest that its industrial satellite product is in the decline stage, as it is reducing advertising expenditures and cutting back on channel members, indicating a decrease in demand and profitability.

Question 3

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.
A)decline
B)evaluation
C)growth
D)introduction
E)maturity

Accepted Answer

The marketing strategy of large advertising expenditures and price flexibility indicates that Schick razor blades are in the maturity stage of the product life cycle. This stage is characterized by intense competition, increased marketing expenses, and price promotions to sustain product sales.

Question 4

A common business objective of the ____ stage of the product life cycle is to generate cash flow.
A)maturity
B)growth
C)introduction
D)market reduction
E)decline

Accepted Answer

The answer of A common business objective of the ____...

Question 5

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
A)harvesting.
B)divesting.
C)reinvesting.
D)realigning.
E)squashing.

Accepted Answer

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

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.
A)introduction; maturity
B)introduction; growth
C)growth; decline
D)growth; maturity
E)maturity; decline

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 it indicates that the market is expanding and the product is gaining popularity. However, when the competition becomes intense, it is in the maturity stage as the market is saturated, and companies are fighting for market share.

Question 7

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.
A)introduction
B)decline
C)growth
D)maturity
E)competitive

Accepted Answer

Promoting the vinegar as a cleaner for multiple surfaces indicates that the product has already been introduced and has gained acceptance by customers. Additionally, promoting the product as an effective cleaner suggests that it is in the maturity stage, as it is being marketed based on its practical uses rather than unique features or benefits.

Question 8

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.
A)not yet developed
B)growth
C)introduction
D)maturity
E)decline

Accepted Answer

The stage of the product life cycle where Weyerhaeuser is most likely to look at products for elimination is the decline stage. This is because products in this stage are experiencing decreasing sales and profits, which makes them less attractive for investment and marketing efforts. By streamlining its product offerings, Weyerhaeuser can focus on its more profitable and popular products, and reduce its marketing expenditures on products that are no longer generating significant revenue.

Question 9

Sales usually start to decline during the ____ stage of the product life cycle.
A)beginning of the termination
B)end of the growth
C)beginning of the decline
D)beginning of the growth
E)end of the maturity

Accepted Answer

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

Question 10

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.
A)maturity
B)growth
C)introduction
D)market testing
E)decline

Accepted Answer

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

Question 11

Which of the following stages of the product life cycle is likely to see dealers offered promotional assistance from the producer?
A)Maturity
B)Growth
C)Introduction
D)Market reduction
E)Decline

Accepted Answer

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

Question 12

During the decline stage of the product life cycle,
A)sales rapidly decrease.
B)market share is maintained.
C)competition is at a peak.
D)profits begin to fall.
E)profits peak and then begin to decline.

Accepted Answer

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

Question 13

During the maturity stage
A)product modifications are unnecessary.
B)there is less emphasis on changing a product's price.
C)marketing strategies are rarely altered.
D)some competitors are forced out.
E)limited advertising expenditures are required to maintain market share.

Accepted Answer

During the maturity stage, some competitors are forced out due to market saturation and a decrease in demand growth. This can lead to a more stable market with fewer players. While product modifications may still be necessary to keep up with changing consumer preferences, there is less emphasis on changing prices or altering marketing strategies. However, advertising expenditures may still be necessary to maintain market share in a more competitive environment.

Question 14

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.
A)introduction
B)growth
C)stabilization
D)maturity
E)decline

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 15

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
A)moderate to large advertising expenditures.
B)moderate to large distribution expenditures.
C)moderate production expenditures.
D)moderate price increases.
E)moderate price decreases.

Accepted Answer

When a product is in the maturity stage, the market is saturated and competition is high. Advertising is needed to maintain brand awareness, and the company needs to invest in promotions and other initiatives to retain customers. Therefore, moderate to large advertising expenditures are necessary to maintain market share. Choices B, C, D, and E are not necessarily helpful in maintaining market share in a saturated market.

Question 16

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
A)harvesting.
B)investing.
C)realigning.
D)divesting.
E)mixing.

Accepted Answer

Harvesting is a strategy where a firm gradually reduces its marketing expenses and shifts its focus towards optimizing profits from the mature or declining product in the product life cycle. The firm may realign its marketing mix to a low-cost approach that requires fewer resources rather than investing more into the product. Therefore, option A is the correct answer.

Question 17

When are marketers least likely to change a product's design, style, or other attributes?
A)Introduction
B)Maturity
C)Decline
D)Growth
E)Removal

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 18

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?
A)Reintroduce the product to new markets or stop sales immediately
B)Speed up the product's decline or increase advertising
C)Attempt to postpone the decline or accept its inevitability
D)Divesting the brand or reinvesting in the brand
E)Accept the decline or phase the product out

Accepted Answer

The two options for Electronics Pro are to either attempt to postpone the decline or accept its inevitability. Postponing the decline could involve trying to find new markets or modifying the product to differentiate it from competitors. Accepting the decline would involve phasing out the product and potentially reinvesting resources into other products that are in the growth or maturity stages of the life cycle. Ultimately, it depends on the financial resources and strategic goals of the company, but attempting to postpone the decline is likely the best option in order to maximize profits and minimize losses in the short-term.

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.
A)maturity
B)decline
C)growth
D)introduction
E)reorganization

Accepted Answer

The decline stage of the product life cycle is when sales and profits begin to decline, and marketers must consider eliminating unprofitable or ineffective products from the product mix. In contrast, the maturity stage is characterized by stable sales and profits, while the growth stage pertains to increasing sales and expanding market share. The introduction stage involves launching a new product, and reorganization is not a stage of the product life cycle.

Question 20

When banks add new services during the maturity stage, the objective they are most likely trying to achieve is
A)pruning items from the product line.
B)generating cash flow.
C)maintaining their market share.
D)filling geographic gaps.
E)increasing their share of the customer.

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.

Quiz 11: Product Concepts

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.

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.

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

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

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.

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.

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.

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

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.

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

During the decline stage of the product life cycle,

During the maturity stage

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.

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

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

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.

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