Question 1

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 answer of Which stage of the typical consumer product...

Question 2

In the ________ stage,the firm faces a trade-off between high market share and high profit.
A)growth
B)decline
C)maturity
D)introduction
E)commercialisation

Accepted Answer

The answer of In the ________ stage,the firm faces a...

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 decrease in sales and profitability. This may be due to various factors including market saturation, changing consumer preferences, technological advancements and new competition. Companies need to make strategic decisions such as reducing costs, discontinuing the product or investing in significant product improvements to extend the product's life cycle.

Question 4

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 option claims that styles last only a short time and tend to attract only a limited following, which is not necessarily true. Styles can have a wide-ranging and long-lasting impact.

Question 5

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 PLC, sales and profits are increasing as the product gains wider acceptance in the market. Therefore, it is the stage where increasing profits are most likely to occur.

Question 6

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 7

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 accurate estimates of sales at each PLC stage, the length of time spent in each PLC stage, and the shape of the PLC curve. However, the use of PLC for fads or fashions is not considered a practical problem, rather it is a common application of the PLC concept.

Question 8

In which stage of the PLC would promotional expenditures most likely increase as a company attempts to react to increasing competition?
A)product development
B)introduction
C)growth
D)maturity
E)decline

Accepted Answer

During the growth stage of the PLC, competition typically increases as more companies enter the market. In response, a company may increase promotional expenditures to differentiate their product and grab a greater market share.

Question 9

________ 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 is the term used to describe a currently accepted or popular style in a given field. Dress code refers to a set of rules or guidelines regarding clothing within a particular organization or event. Fad and craze refer to a temporary, often short-lived trend that quickly gains popularity and fades away just as quickly. Style is a broader term that can encompass various trends, fashions, and personal choices.

Question 10

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 a product or idea that becomes popular among a group of people for a short period, but then loses its appeal quickly. Examples include Silly Bandz, Pokémon Go, and fidget spinners.

Question 11

________ 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 due to immediate popularity or enthusiasm for a product or brand.

Question 12

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

Promotional expenditures will be especially high in the introduction stage of the PLC in an attempt to create consumer awareness. This is because the product is new and unknown to the market, and consumers need to be made aware of its existence and benefits. Once the product moves into the growth stage, consumer awareness has already been established, and promotional expenditures will likely be focused on building brand loyalty and increasing market share.

Question 13

Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers?
A)introduction
B)growth
C)maturity
D)decline
E)phase-in

Accepted Answer

The maturity stage of the PLC typically lasts longer than the other stages and presents strong challenges to marketing managers. During this stage, sales growth slows down, competition intensifies, and the focus shifts from customer acquisition to retention. To remain successful, marketers must find ways to differentiate their product or service from the competition, maintain strong customer relationships, and innovate to appeal to changing customer needs.

Question 14

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 15

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 changing the marketing mix of a product in order to appeal to a new or different target market. This can sometimes help a product that has entered the decline stage to regain popularity and move back into the growth stage.

Question 16

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 17

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 answer of The PLC concept can be applied by...

Question 18

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.

Question 19

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 (Product Life Cycle) concept is focused on the stages a product goes through in its life cycle, including introduction, growth, maturity, and decline. Product image is not a tangible product characteristic and does not have a clear life cycle like the other choices.

Question 20

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 sells popular and currently accepted clothing items, which implies that they stock fashionable clothing, making option B the best choice. Styles (A) and fads (C) may not necessarily be popular or accepted by customers, and there is no information to suggest that Country Road offers exclusive (D) or trendy crazes (E) in their stores.

Quiz 8: Products, Services and Brands: Building Customer Value

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

In the ________ stage,the firm faces a trade-off between high market share and high profit.

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

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

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

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.

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?

In which stage of the PLC would promotional expenditures most likely increase as a company attempts to react to increasing competition?

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

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

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

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

Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers?

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

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

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.

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

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.

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

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

Quiz 8: Products, Services and Brands: Building Customer Value

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

In the ________ stage,the firm faces a trade-off between high market share and high profit.

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

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

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

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.

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?

In which stage of the PLC would promotional expenditures most likely increase as a company attempts to react to increasing competition?

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

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

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

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

Which stage in the PLC normally lasts longer and poses strong challenges to the marketing managers?

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

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

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.

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

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.

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

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

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.