Question 1

Manufacturers must comply with specific laws regarding ________.

Accepted Answer

The answer of Manufacturers must comply with specific laws regarding...

Question 2

Over the past 100 years or so,Binney and Smith's Crayola crayons have become a household staple in more than 80 countries around the world.Crayola crayons are in the ________ stage of the PLC

Accepted Answer

The answer of Over the past 100 years or so,Binney...

Question 3

Which stage of the typical consumer product life cycle is out of order below?
A)	Product development
B)	Introduction
C)	Maturity
D)	Growth
E)	Decline

Accepted Answer

The correct order should be: Product Development, Introduction, Growth, Maturity, Decline. Maturity comes after Growth, not before.

Question 4

A manufacturer with a product in the decline stage of the product life cycle might decide to ________ if it has reason to hope that competitors will leave the industry.

Accepted Answer

The answer of A manufacturer with a product in the...

Question 5

Apple's iPod has been called "one of the greatest consumer electronics hits of all time." More than 120 million iPods have been sold,and the iPod captures more than 70 percent of the music player market.This success has attracted many large,resourceful competitors.The iPod is in the ________ stage of the product life cycle.

Accepted Answer

The answer of Apple's iPod has been called "one of...

Question 6

Big Moose Toys is a market pioneer introducing a modern version of Bullwinkle the Moose,a character from an animated television series originally broadcast in the fifties and sixties.Its version of Rocky the Flying Squirrel,another character from the show,targeted to baby boomers,was a strong success.The company needs to make the new launch strategy for Bullwinkle consistent with the intended ________.

Accepted Answer

The answer of Big Moose Toys is a market pioneer...

Question 7

Sales decrease in the decline stage of the PLC because of technological advances,increased competition,and ________.

Accepted Answer

The answer of Sales decrease in the decline stage of...

Question 8

Proctor & Gamble has sold off a number of lesser or declining brands,such as Oxydol detergent and Jif peanut butter.In these examples,management decided to ________ the products.

Accepted Answer

The answer of Proctor & Gamble has sold off a...

Question 9

Which of the following would lead to greater competition in the maturity stage of the PLC?
A)	Overcapacity
B)	Market pioneers
C)	Poor management
D)	Inadequate promotion
E)	Diminishing budgets

Accepted Answer

Overcapacity in the market during the maturity stage of the Product Life Cycle (PLC) leads to greater competition as companies strive to maintain their market share and sell excess production.

Question 10

Which of the following best represents the options a company has when a product is declining?
A)	Maintain or harvest the product
B)	Harvest or drop the product
C)	Maintain, harvest, or drop the product
D)	Maintain or pioneer the product
E)	Pioneer, harvest, or maintain the product

Accepted Answer

The answer of Which of the following best represents the...

Question 11

When Kraft focused on cost-cutting with its older and established brands,leaving them to wither without much investment or modification,Kraft had decided to ________ the older products.

Accepted Answer

The answer of When Kraft focused on cost-cutting with its...

Question 12

It's What's Hip,a chain of 18 music and CD stores,has discovered that carrying a weak product during the decline stage of the PLC can be very costly to a firm,and not just in profit terms.Which one of these is one of those additional costs?
A)	Product development costs
B)	Product testing costs
C)	Requires advertising and sales force attention
D)	Shipping and handling costs
E)	Customer inquiry costs

Accepted Answer

Carrying a weak product during its decline stage often requires continued investment in advertising and sales force attention to try and sustain sales, which can be an additional cost to the firm beyond just lost profits.

Question 13

Which of the following best describes the role of a product steward?
A)	To protect the product image
B)	To evaluate new-product ideas against a set of general criteria
C)	To develop a new-product concept into a physical product
D)	To protect the company from liability by identifying and solving potential product problems
E)	To form and lead product development teams

Accepted Answer

Product stewards focus on identifying and solving potential product problems to protect the company from liability, ensuring that products are safe and comply with regulations and standards.

Question 14

Most products in the marketplace are in the ________ stage of the product life cycle.

Accepted Answer

The answer of Most products in the marketplace are in...

Question 15

CellTones,a new company selling several lines of cellular phones,has closely modelled its products after successful products that are already in the marketplace.As it prepares to enter the market with its new products and services,which of the following should concern CellTones the most?
A)	Legal obligations to suppliers and dealers
B)	Patent laws
C)	The Federal Food, Drug, and Cosmetic Act
D)	Product liability suits
E)	Limited warranties

Accepted Answer

Patent laws should be the primary concern for CellTones since it has modeled its products closely after existing successful products in the marketplace, potentially infringing on existing patents.

Question 16

When Heinz introduced EZ Squirt packaging and new colours such as Blastin' Green and Awesome Orange to revitalize consumer buying,the company was ________.

Accepted Answer

The answer of When Heinz introduced EZ Squirt packaging and...

Question 17

Superior Luggage Company has undertaken the task of identifying its products in the decline stage of the PLC.Which of the following should be done in the identification process?
A)	Regularly conduct focus groups
B)	Regularly review market share
C)	Regularly replace brand managers
D)	Regularly review management's pet projects
E)	Regularly reduce the promotional budget

Accepted Answer

Regularly reviewing market share is a key method for identifying products in the decline stage of the product life cycle (PLC), as declining market share is a strong indicator that a product is losing favor with consumers.

Question 18

Mattel's Barbie is an example of an age-defying product.Barbie,simultaneously timeless and trendy,is in the ________ stage of the PLC.

Accepted Answer

The answer of Mattel's Barbie is an example of an...

Question 19

When a product enters the maturity stage,the company should consider ________.

Accepted Answer

The answer of When a product enters the maturity stage,the...

Question 20

Because of ________,a company cannot make its product illegally similar to a competitor's already established product.

Accepted Answer

The answer of Because of ________,a company cannot make its...

Quiz 10: New-Product Development and Product Life-Cycle Strategies

Manufacturers must comply with specific laws regarding ________.

Over the past 100 years or so,Binney and Smith's Crayola crayons have become a household staple in more than 80 countries around the world.Crayola crayons are in the ________ stage of the PLC

Which stage of the typical consumer product life cycle is out of order below?

A manufacturer with a product in the decline stage of the product life cycle might decide to ________ if it has reason to hope that competitors will leave the industry.

Sales decrease in the decline stage of the PLC because of technological advances,increased competition,and ________.

Proctor & Gamble has sold off a number of lesser or declining brands,such as Oxydol detergent and Jif peanut butter.In these examples,management decided to ________ the products.

Which of the following would lead to greater competition in the maturity stage of the PLC?

Which of the following best represents the options a company has when a product is declining?

When Kraft focused on cost-cutting with its older and established brands,leaving them to wither without much investment or modification,Kraft had decided to ________ the older products.

It's What's Hip,a chain of 18 music and CD stores,has discovered that carrying a weak product during the decline stage of the PLC can be very costly to a firm,and not just in profit terms.Which one of these is one of those additional costs?

Which of the following best describes the role of a product steward?

Most products in the marketplace are in the ________ stage of the product life cycle.

CellTones,a new company selling several lines of cellular phones,has closely modelled its products after successful products that are already in the marketplace.As it prepares to enter the market with its new products and services,which of the following should concern CellTones the most?

When Heinz introduced EZ Squirt packaging and new colours such as Blastin' Green and Awesome Orange to revitalize consumer buying,the company was ________.

Superior Luggage Company has undertaken the task of identifying its products in the decline stage of the PLC.Which of the following should be done in the identification process?

Mattel's Barbie is an example of an age-defying product.Barbie,simultaneously timeless and trendy,is in the ________ stage of the PLC.

When a product enters the maturity stage,the company should consider ________.

Because of ________,a company cannot make its product illegally similar to a competitor's already established product.