Question 1

An ad that stresses "Get the real Proactiv Solution; accept no substitutes!" is best geared for which stage of the product life cycle?
A)Introduction
B)Growth
C)Stabilization
D)Expansion
E)Decline

Accepted Answer

During the growth stage, a product experiences increased competition, and companies often emphasize the authenticity and uniqueness of their product to differentiate it from competitors and substitutes.

Question 2

Marissa, a product manager, thinks her company's InstaCup coffee maker is currently in the growth stage of the product life cycle. If so, the profits for the InstaCup coffee maker ___ and the number of competitors ____.
A)are negative; is growing
B)have peaked; is growing
C)are declining; is growing
D)have peaked; is declining
E)are declining; is declining

Accepted Answer

According to the product life cycle, the growth stage is when profits peak and the number of competitors is growing. Therefore, A, C, D, and E are incorrect. Option B correctly states that profits have peaked and the number of competitors is still growing.

Question 3

The various products carried by a retailer can also have dimensions of width and depth. For example, Dick's Sporting Goods carries sports clothes, shoes, exercise equipment, hunting and fishing equipment, camping supplies, and other products. Bass Pro Shops carries fishing equipment, but has a larger selection of different models and brands. In this case, the product mix of Dick's Sporting Goods is ___, and the product mix of Bass Pro Shops is ____.
A)deep; wide
B)wide and deep; wide and shallow
C)deep and wide; deep and wide
D)wide; deep
E)wide; long

Accepted Answer

Dick's Sporting Goods has a wide product mix because it offers a variety of different product categories. Bass Pro Shops has a deep product mix because it offers a large selection of models and brands within a specific category (fishing equipment).

Question 4

Which stage in the product life cycle is critical to a product's survival because competitive reactions to the product's success during this period will affect the product's life expectancy?
A)Decline
B)Expansion
C)Growth
D)Introduction
E)Stabilization

Accepted Answer

During the growth stage, a product's sales and popularity increase rapidly, attracting the attention of competitors. Competitors may attempt to imitate the product or introduce similar products, impacting the product's life expectancy. Therefore, this stage is critical for the product's survival.

Question 5

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

An increase in the number of competitors is typically seen in the growth stage of the product life cycle, as the product gains popularity and attracts more attention from competitors. However, when the competition becomes intense and market saturation is reached, the product moves into the maturity stage.

Question 6

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, the market becomes saturated and some competitors may be forced out due to intense competition. However, product modifications, changes in price, and alterations in marketing strategies may still be necessary to maintain market share and keep up with changing consumer demands. Limited advertising expenditures may also be required to maintain market share, but companies cannot rely solely on past success and must continue to innovate and differentiate their products.

Question 7

Achieving greater penetration of the market is typically a business goal during the ____ stage of the product life cycle.
A)maturity
B)growth
C)introduction
D)market testing
E)decline

Accepted Answer

During the growth stage of the product life cycle, the product has gained acceptance in the market and sales are increasing. Therefore, the goal during this stage is to achieve greater market penetration to increase market share and maintain growth.

Question 8

Aggressive pricing is typical during the ____ stage of the product life cycle.
A)decline
B)growth
C)introduction
D)plateau
E)stabilization

Accepted Answer

Aggressive pricing is typically used during the growth stage of the product life cycle to attract more customers and gain market share. As the market becomes more competitive during this stage, pricing becomes an important factor in maintaining sales growth. Once the product reaches maturity or declines in sales, the focus may shift to cost-cutting measures rather than aggressive pricing.

Question 9

Which of the following tactics would typically be employed when a product is in the growth stage of its life cycle?
A)Lowering prices after developmental costs have been recovered
B)Raising promotion expenditures as a percentage of total sales
C)Moving from intensive to selective distribution
D)Raising prices to encourage competitors to enter the market
E)Reducing the number of product models in the product line

Accepted Answer

The answer of Which of the following tactics would typically...

Question 10

The four major stages of a product life cycle include
A)prosperity, recession, depression, and recovery.
B)specialty, convenience, shopping, and unsought goods.
C)decline, stabilization, exposure, and growth.
D)introduction, growth, maturity, and decline.
E)awareness, interest, trial, and adoption.

Accepted Answer

The four major stages of a product life cycle are introduction, growth, maturity, and decline. During the introduction stage, the product is introduced to the market and sales are low. During the growth stage, sales increase rapidly as the product gains acceptance. During the maturity stage, sales level off as the product reaches its peak and may even start to decline. Finally, during the decline stage, sales decrease as the product loses popularity or becomes outdated.

Question 11

Sales of Schwinn's apartment-sized exercise machine have experienced a steady climb; however, the profits have been negative. The Schwinn exercise machine is most likely in the ____ stage of the product life cycle.
A)decline
B)growth
C)initial
D)maturity
E)introduction

Accepted Answer

The answer of Sales of Schwinn's apartment-sized exercise machine have...

Question 12

Which of the following is the most typical example of a new product introduction?
A)Pringles sold in snack-sized containers
B)A brand-new nut discovered in Africa
C)A car that uses no oil or gasoline
D)Shoes that literally make you run faster
E)A device that cools your car while parked outside

Accepted Answer

A new product introduction typically involves introducing an existing product in a new way, such as packaging it in a different size or format. Pringles sold in snack-sized containers is an example of this. The other options involve completely new or revolutionary products, which are less typical for new product introductions.

Question 13

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

The maturity stage of the product life cycle is characterized by intense competition, and companies often focus on promoting additional uses for the product to maintain market share and profitability. Therefore, Heinz promoting its vinegar as a cleaner for various surfaces would be a suitable strategy for this stage.

Question 14

One company markets such diverse products as Rosarita Mexican foods, Max Factor cosmetics, and Samsonite luggage. These various offerings exhibit this firm's product mix
A)width.
B)depth.
C)length.
D)volume.
E)dimension.

Accepted Answer

The product mix width refers to the number of different product lines that a company offers. In this case, the company offers a wide range of products across different categories, making its product mix width quite broad.

Question 15

During the growth stage of the product life cycle, marketers must
A)fortify the product position.
B)move to exclusive distribution.
C)raise the price.
D)increase promotion as a percentage of sales.
E)introduce private brands.

Accepted Answer

During the growth stage of the product life cycle, the focus should be on fortifying the product position by investing in research and development, improving product features, expanding distribution channels, and building brand recognition. This will help the product gain a stronger foothold in the market and increase market share. Moving to exclusive distribution or raising the price at this stage may limit the product's reach and hinder its growth. Increasing promotion as a percentage of sales may be necessary to create awareness and attract new customers, but the emphasis should still be on improving the product's appeal and quality. Introducing private brands may be more relevant to the introduction or decline stage of the product life cycle.

Question 16

The width of a product mix is measured by the number of product
A)dimensions in the product line.
B)features in each brand.
C)items in the product line.
D)lines a company offers.
E)specialties a company offers.

Accepted Answer

The width of a product mix refers to the number of different product lines a company offers. For example, a company might have a wide product mix if it sells clothing, electronics, and food products, indicating a diverse range of product lines.

Question 17

In which stage of the product life cycle do profits begin to decrease?
A)Introduction
B)Growth
C)Maturity
D)Decline
E)Recovery

Accepted Answer

The answer of In which stage of the product life...

Question 18

During the introduction stage of a successful product, profits are usually
A)at their highest point.
B)negative and decreasing.
C)negative and increasing.
D)positive and increasing.
E)declining.

Accepted Answer

During the introduction stage of a successful product, profits are usually negative due to high initial costs for product development, marketing, and distribution. However, as sales begin to grow, losses start to decrease, indicating that profits are negative but increasing.

Question 19

Grand Resorts Hawaii has just celebrated its first profit since opening two years ago. Grand Resorts Hawaii is most likely in the ____ stage of the product life cycle.
A)Maturity
B)Growth
C)Introduction
D)Market testing
E)Stability

Accepted Answer

Grand Resorts Hawaii is showing a profit after two years, which indicates that it is in the growth stage of the product life cycle. During the growth stage, sales and market share increase, and profitability typically improves. This is also supported by the fact that the resort has only been open for two years, suggesting it is still in the early stages of its life cycle.

Question 20

When a business finds itself squeezed out of a market for a product or loses interest in that product, it is a sign of being in the ____ stage of the product life cycle.
A)maturity
B)growth
C)introduction
D)market reduction
E)decline

Accepted Answer

The answer of When a business finds itself squeezed out...

Quiz 11: Product Concepts, Branding and Packaging

An ad that stresses "Get the real Proactiv Solution; accept no substitutes!" is best geared for which stage of the product life cycle?

Marissa, a product manager, thinks her company's InstaCup coffee maker is currently in the growth stage of the product life cycle. If so, the profits for the InstaCup coffee maker _ and the number of competitors __.

Which stage in the product life cycle is critical to a product's survival because competitive reactions to the product's success during this period will affect the product's life expectancy?

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.

During the maturity stage

Achieving greater penetration of the market is typically a business goal during the ____ stage of the product life cycle.

Aggressive pricing is typical during the ____ stage of the product life cycle.

Which of the following tactics would typically be employed when a product is in the growth stage of its life cycle?

The four major stages of a product life cycle include

Sales of Schwinn's apartment-sized exercise machine have experienced a steady climb; however, the profits have been negative. The Schwinn exercise machine is most likely in the ____ stage of the product life cycle.

Which of the following is the most typical example of a new product introduction?

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.

One company markets such diverse products as Rosarita Mexican foods, Max Factor cosmetics, and Samsonite luggage. These various offerings exhibit this firm's product mix

During the growth stage of the product life cycle, marketers must

The width of a product mix is measured by the number of product

In which stage of the product life cycle do profits begin to decrease?

During the introduction stage of a successful product, profits are usually

Grand Resorts Hawaii has just celebrated its first profit since opening two years ago. Grand Resorts Hawaii is most likely in the ____ stage of the product life cycle.

When a business finds itself squeezed out of a market for a product or loses interest in that product, it is a sign of being in the ____ stage of the product life cycle.