Question 1

All of the following are stages in the PLC,EXCEPT which one?
A)introduction
B)adoption
C)growth
D)decline
E)maturity

Accepted Answer

Adoption is not a stage in the Product Life Cycle (PLC). The PLC stages include introduction, growth, maturity, and decline. Adoption refers to the process by which consumers start using a new product, not a distinct stage in the PLC.

Question 2

A new-product development approach in which one company department works individually to complete its stage of the process before passing the new product along to the next department and stage is known as ________ product development.

Accepted Answer

The answer of A new-product development approach in which one...

Question 3

________ is the product life-cycle period when sales fall off and profits drop.
A)Introduction
B)Growth
C)Maturity
D)Decline
E)Development

Accepted Answer

The decline stage is characterized by a drop in sales and profits, as the market becomes saturated, competition increases, and consumer interests shift. The product may become outdated or replaced by newer technologies or trends.

Question 4

The PLC concept can be applied by marketers as a useful framework for describing how ________.
A)to forecast product performance
B)to develop marketing strategies
C)products and markets work
D)concept testing is conducted
E)product ideas are developed

Accepted Answer

The PLC concept can be applied by marketers as a useful framework for describing how products and markets work.

Question 5

A product which falls in and out of favour with customers quickly is called a ________.
A)style
B)fashion
C)fad
D)product idea
E)market strategy

Accepted Answer

A fad is typically a short-lived product trend that gains sudden popularity and then quickly falls out of favour with customers. Styles refer to longer-lasting trends, while product ideas and market strategies are broader concepts that may not necessarily be linked to a specific product trend.

Question 6

________ is a currently accepted or popular style in a given field.
A)Style
B)Fashion
C)Dress code
D)Fad
E)Craze

Accepted Answer

Fashion refers to a current trend or style in a particular industry or field, such as fashion, technology, or music. It is widely accepted and followed, but tends to have a shorter lifespan than a style.

Question 7

Briefly describe the steps in the new-product development process.

Accepted Answer

The answer of Briefly describe the steps in the new-product...

Question 8

A new-product development approach in which various company departments work closely together,overlapping the steps in the product development process to save time and increase effectiveness is known as ________ new-product development.

Accepted Answer

The answer of A new-product development approach in which various...

Question 9

Identify the major sources of external new-product ideas and explain why these sources offer advantages over internal sources.

Accepted Answer

The answer of Identify the major sources of external new-product...

Question 10

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?
A)product development
B)introduction
C)growth
D)maturity
E)adoption

Accepted Answer

During the introduction stage of the PLC, promotional expenditures will be especially high in an attempt to create consumer awareness. This is because the product is new, and the company needs to generate interest and educate consumers about the benefits of the product. During this stage, the focus is primarily on building awareness and gaining initial acceptance, so promotional efforts will be focused on creating a strong brand identity, generating publicity, and building a customer base.

Question 11

All of the following are accurate descriptions of a style,EXCEPT which one?
A)Styles appear in home,clothing and art.
B)Once a style is invented,it may last for generations.
C)A style has a cycle showing several periods of renewed interest.
D)Styles last only a short time and tend to attract only a limited following.
E)Styles are basic and distinctive modes of expression.

Accepted Answer

This description is not accurate as styles can last for a long time and can have a wide following, depending on their popularity and relevance in different contexts.

Question 12

________ are temporary periods of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity.
A)Styles
B)Fashions
C)Introduction phase
D)Fads
E)Rapid growth phase

Accepted Answer

Fads are temporary periods of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity. They tend to have a short life cycle and quickly lose popularity. Examples of fads include fidget spinners or pet rocks.

Question 13

Increasing profits will most likely occur at which stage of the PLC?
A)product development
B)introduction
C)growth
D)maturity
E)decline

Accepted Answer

During the growth stage of the Product Life Cycle (PLC), sales increase rapidly, leading to higher profits as the product gains market acceptance and economies of scale are achieved.

Question 14

Country Road sells currently accepted and popular clothing items in given fields.What do they stock in their stores?
A)styles
B)fashions
C)fads
D)exclusives
E)crazes

Accepted Answer

Country Road stocks "fashions" in their stores, which refers to currently accepted and popular clothing items.

Question 15

Using the PLC concept for forecasting product performance or for developing marketing strategies presents some practical problems.Which of the following is NOT one of these practical problems?
A)accurate estimates of sales at each PLC stage
B)length of time spent in each PLC stage
C)the shape of the PLC curve
D)the PLC being used for fads or fashions
E)A and B only

Accepted Answer

The practical problems associated with using the PLC concept for forecasting product performance or developing marketing strategies include the accurate estimates of sales at each PLC stage, the length of time spent in each stage, and the shape of the PLC curve. However, the PLC concept is particularly useful for products that have a predictable and stable demand pattern over time, and it is less applicable for products that are subject to fads or fashions. Therefore, D is not one of the practical problems associated with using the PLC concept for forecasting or marketing.

Question 16

________ occurs when a company introduces a new product into the market.

Accepted Answer

The answer of ________ occurs when a company introduces a...

Question 17

Which of the following CANNOT be described using the PLC concept?
A)product class
B)product form
C)product image
D)brand
E)styles

Accepted Answer

The PLC concept refers to the stages a product goes through from introduction to decline, based on its sales performance in the market. Product class, form, brand, and styles can all be described using the PLC concept. However, product image is not directly related to the sales performance of a product, and thus cannot be described using the PLC concept.

Question 18

Distinguish between a product idea,a product concept and a product image.

Accepted Answer

The answer of Distinguish between a product idea,a product concept...

Question 19

Some products that have entered the decline stage have been cycled back to the growth stage through ________.
A)repositioning
B)concept testing
C)business analysis
D)innovation management
E)customer-centred product development

Accepted Answer

Repositioning involves updating a product's marketing message, target audience, or general perception in the market. This can breathe new life into a product that has entered the decline stage and potentially bring it back to the growth stage. Concept testing, business analysis, innovation management, and customer-centered product development are all important stages in the product development process, but not specifically focused on revitalizing a declining product.

Question 20

Using the PLC concept to develop marketing strategy can be difficult because strategy is both a ________ and a(n)________ of the product's life-cycle.
A)mirror image;cause
B)cause;result
C)result;mirror image
D)beginning;end
E)purpose;effect

Accepted Answer

The PLC (Product Life Cycle) concept suggests that a product goes through various stages from introduction to decline. The marketing strategy both influences and is influenced by the stage of the product in its life cycle, making it both a cause and a result of the product's life-cycle stage.

Quiz 8: New Products: Developing and Managing Innovation

All of the following are stages in the PLC,EXCEPT which one?

A new-product development approach in which one company department works individually to complete its stage of the process before passing the new product along to the next department and stage is known as ________ product development.

________ is the product life-cycle period when sales fall off and profits drop.

The PLC concept can be applied by marketers as a useful framework for describing how ________.

A product which falls in and out of favour with customers quickly is called a ________.

________ is a currently accepted or popular style in a given field.

Briefly describe the steps in the new-product development process.

A new-product development approach in which various company departments work closely together,overlapping the steps in the product development process to save time and increase effectiveness is known as ________ new-product development.

Identify the major sources of external new-product ideas and explain why these sources offer advantages over internal sources.

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

All of the following are accurate descriptions of a style,EXCEPT which one?

________ are temporary periods of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity.

Increasing profits will most likely occur at which stage of the PLC?

Country Road sells currently accepted and popular clothing items in given fields.What do they stock in their stores?

Using the PLC concept for forecasting product performance or for developing marketing strategies presents some practical problems.Which of the following is NOT one of these practical problems?

________ occurs when a company introduces a new product into the market.

Which of the following CANNOT be described using the PLC concept?

Distinguish between a product idea,a product concept and a product image.

Some products that have entered the decline stage have been cycled back to the growth stage through ________.

Using the PLC concept to develop marketing strategy can be difficult because strategy is both a and a(n) of the product's life-cycle.

Quiz 8: New Products: Developing and Managing Innovation

All of the following are stages in the PLC,EXCEPT which one?

A new-product development approach in which one company department works individually to complete its stage of the process before passing the new product along to the next department and stage is known as ________ product development.

________ is the product life-cycle period when sales fall off and profits drop.

The PLC concept can be applied by marketers as a useful framework for describing how ________.

A product which falls in and out of favour with customers quickly is called a ________.

________ is a currently accepted or popular style in a given field.

Briefly describe the steps in the new-product development process.

A new-product development approach in which various company departments work closely together,overlapping the steps in the product development process to save time and increase effectiveness is known as ________ new-product development.

Identify the major sources of external new-product ideas and explain why these sources offer advantages over internal sources.

In which stage of the PLC will promotional expenditures be especially high in an attempt to create consumer awareness?

All of the following are accurate descriptions of a style,EXCEPT which one?

________ are temporary periods of unusually high sales driven by consumer enthusiasm and immediate product or brand popularity.

Increasing profits will most likely occur at which stage of the PLC?

Country Road sells currently accepted and popular clothing items in given fields.What do they stock in their stores?

Using the PLC concept for forecasting product performance or for developing marketing strategies presents some practical problems.Which of the following is NOT one of these practical problems?

________ occurs when a company introduces a new product into the market.

Which of the following CANNOT be described using the PLC concept?

Distinguish between a product idea,a product concept and a product image.

Some products that have entered the decline stage have been cycled back to the growth stage through ________.

Using the PLC concept to develop marketing strategy can be difficult because strategy is both a ________ and a(n) ________ of the product's life-cycle.

Using the PLC concept to develop marketing strategy can be difficult because strategy is both a and a(n) of the product's life-cycle.