Question 1

Beverly is assessing the results of a new product launch of a series of e-books for her bookstore.When evaluating the results,Beverly will likely consider all of the following except

Accepted Answer

The question asks what Beverly is likely to consider when evaluating the results of the new product launch. Option A, which is the reason why it took her so long to consider the new product line, is not relevant to evaluating the results of the launch. The other options (B, C, D, and E) are all relevant factors to consider when evaluating the success of the new product launch.

Question 2

The growth phase of the product life cycle is always dynamic.Which of the following does not occur in this phase?

Accepted Answer

The growth phase of the product life cycle is characterized by increasing profits and economies of scale, as well as new competitors and some competitors exiting the market. However, protracted price wars that erode profits typically occur in the later stages of the product life cycle, such as in the maturity or decline phase. Therefore, the correct answer is E.

Question 3

The __________ step in the product development process is critical,requiring tremendous resources and extensive coordination of all aspects of the marketing mix.

Accepted Answer

The product launch is the critical step in the product development process that requires tremendous resources and extensive coordination of all aspects of the marketing mix. It marks the introduction of the new product or service to the market and can make or break its success. A successful product launch requires careful planning, timing, and execution to generate buzz, excitement, and interest among consumers. Failure to properly execute a product launch can result in poor sales, negative feedback, and damage to the brand's reputation.

Question 4

During the ___________ stage of the product life cycle,firms either position themselves for a niche market of loyal consumers or they exit the market.

Accepted Answer

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

Question 5

Some products may stay comfortably in the maturity phase of the product life cycle until a new product emerges to replace them.An example of such a mature product is

Accepted Answer

Refrigerators are a product that has been around for a long time and has reached the maturity phase. However, as of now, there is no new product that has emerged to replace them. Therefore, refrigerators can stay comfortably in the maturity phase for a longer period of time.

Question 6

A marketing professor in Ithaca,New York,maintains a museum of failed consumer products.Most new products in this museum failed during the __________ stage of new product development,when they are introduced to a limited geographic area.

Accepted Answer

The statement in the question explicitly states that the failed products in the museum failed during the test marketing stage, which is when the product is introduced to a limited geographic area to test consumer response before a full-scale launch.

Question 7

A(n)__________ is a fee paid by manufacturers to get new products into stores or to gain more or better shelf space for products.

Accepted Answer

A slotting allowance is a fee paid by manufacturers to retailers for the placement of new products on their shelves or for better shelf space for existing products. It is a common practice in the retail industry to help offset the costs associated with bringing new products to market.

Question 8

During the __________ stage of the product life cycle,sales are low and profits are small or negative.

Accepted Answer

During the introduction stage, sales are low as the product is new to the market and there is low consumer awareness. Additionally, companies invest heavily in promotion and advertising during this stage which often leads to negative profits.

Question 9

Which of the following is not a characteristic of products in the maturity stage of the product life cycle?

Accepted Answer

Laggards are not a major focus of marketing efforts in the maturity stage of the product life cycle. Instead, the focus is on maintaining market share and profitability.

Question 10

__________ are special incentives offering reduced prices for a limited time,offered to retailers to get them to try a new product.

Accepted Answer

Introductory price promotions are special incentives that offer reduced prices for a limited time, aimed at retailers to encourage them to try a new product. This is done to attract new customers and create excitement about a new product.

Question 11

Now that the consumer demand is building for Miranda's new organic shampoo,she and her team face a new set of decisions.Which of the following is not one of the decision items on the agenda for the team discussion of place in the marketing mix for a new product launch?

Accepted Answer

The answer of Now that the consumer demand is building...

Question 12

Which of the following is not one of the four product life cycle stages?

Accepted Answer

The four product life cycle stages are introduction, growth, maturity, and decline. "Stagnation" is not one of these stages.

Question 13

During the __________ stage of the product life cycle,sales rise,profits rise rapidly,and there are a small but increasing number of competitors.

Accepted Answer

The growth stage of the product life cycle is characterized by rising sales and profits, as well as the emergence of new but few competitors. This is a time of increasing demand and expanding market share.

Question 14

When McDonald's comes up with a new drink or sandwich for its restaurants,it often markets it in a dozen or so of its outlets.When the company does this,it is engaged in

Accepted Answer

Test marketing is the process of introducing a new product or service to a limited market to measure its effectiveness, gauge customer response, and make necessary adjustments before launching it on a larger scale. In this scenario, McDonald's is introducing a new drink or sandwich in a limited number of outlets, which is a form of test marketing.

Question 15

Microsoft's Windows operating system continues to dominate the market,even though it has been around for over 20 years.Windows will likely remain in the maturity stage of the product life cycle

Accepted Answer

The statement suggests that Windows is in the maturity stage of its product life cycle, which typically means that the product has reached saturation in the market and there is little room for growth. However, this does not necessarily mean that the product will decline immediately. It can continue to generate revenue and profits for the company, but a superior product can eventually replace it. Therefore, the best choice is C, which suggests that Windows will continue to dominate until a better product comes along to replace it.

Question 16

By the time BMW and Mercedes-Benz entered the mini-SUV market,there were many competitors,sales had peaked,and profits were declining.These firms entered the market during the __________ stage of the product life cycle.

Accepted Answer

The answer of By the time BMW and Mercedes-Benz entered...

Question 17

During the __________ stage of the product life cycle,sales peak and profits begin to decline as competition becomes intense.

Accepted Answer

The statement refers to the maturity stage of the product life cycle, in which sales growth slows down and competition becomes fierce. This is usually when the market becomes saturated, and the product reaches its peak in terms of sales before declining.

Question 18

When Toyota introduced hybrid cars,there were waiting lists to buy them.Then Honda and a few other manufacturers entered the market,shifting the product life cycle for hybrid cars into the __________ stage of the product life cycle.

Accepted Answer

When Honda and other manufacturers entered the market, it indicated that hybrid cars were becoming more popular and widely accepted, which is characteristic of the growth stage in the product life cycle. This stage follows the introduction phase and is marked by a rapid increase in sales and the entrance of competitors.

Question 19

When Dr.Putt invented his Eye-Over-the-Ball (EOB)golf putting device,he knew during the introductory stage

Accepted Answer

During the introductory stage of a product, sales are typically low because the product is just being introduced to the market, and profits are often nonexistent as the initial costs of product development and marketing are being recovered. Innovators, who are always on the lookout for the latest advancements, are usually the first to try new products.

Question 20

Which of the following would not be part of the launch of a new product?

Accepted Answer

Starting to make preliminary decisions about the target market would typically occur earlier in the product development process, not at the launch stage.

Quiz 12: Developing New Products