Question 1

_____ have the longest product life cycles.​

Accepted Answer

Product categories refer to a group of related products, and they generally have longer life cycles compared to individual products or brands. For example, the life cycle of smartphones may be shorter compared to the life cycle of the electronics product category as a whole. The product category may go through various stages of growth, maturity, decline, and eventually become obsolete. Therefore, product categories have longer life cycles compared to individual product items or brands.

Question 2

The maker of Protect Your Hands hand sanitizer decided to test its consumers' reactions to one of its new products,Protect Your Hands Sanitizing Wipes.It sent out flyers advertising several of the company's products along with the new product to select customers of the target market.The flyer also asked the customers to shop in a mock store filled with real products,including the new product.In this case,the maker of Protect Your Hands has used -_____.​

Accepted Answer

The scenario describes simulated market testing, which involves creating a simulated market environment to test how consumers respond to a product before it is launched in the real market. The company is asking customers to shop in a mock store and interact with the new product to gauge their reactions. Crowdsourcing involves outsourcing ideas or tasks to a large group of people, concept testing involves testing the overall concept of a new product idea, and product simulation involves creating a digital or physical prototype of a new product. None of these accurately describe the scenario described in the question.

Question 3

The process where all the involved areas-R&D,marketing,engineering,production,and even suppliers-work together rather than sequentially during a product's development is called _____.​

Accepted Answer

Simultaneous product development, also known as concurrent engineering or integrated product development, involves all areas of the company working together in parallel during product development. This approach saves time and resources by eliminating feedback loops and reducing the need for revisions. Test marketing and simulated market testing are both related to market research and testing strategies, while choice modeling is a research method to understand consumer preferences.

Question 4

Roger is always eager to own the latest cell phone model launched in the market.He makes it a point to buy new cell phones on the first day of their launch.He is also an active member of various online forums that discuss the latest technical developments.In this case,Roger is a(n)_____.​

Accepted Answer

Roger's behavior matches that of an innovator, someone who is eager to adopt the latest technology and often among the first to purchase new products when they are launched.

Question 5

Explain the differences between the maturity stage and growth stage in the product life cycle.

Accepted Answer

The answer of Explain the differences between the maturity stage...

Question 6

Jeni's Splendid Ice Creams has decided to put its new Beet Cake with Black Walnut ice cream on the market.This product has entered the _____ stage of new-product development process.​

Accepted Answer

The commercialization stage is when the product is introduced to the market, which is the case with Jeni's Splendid Ice Creams' Beet Cake with Black Walnut ice cream.

Question 7

The business analysis stage of a new-product development process _____.​

Accepted Answer

The business analysis stage involves calculating preliminary figures for demand, cost, sales, and profitability for the proposed product. A prototype is usually developed in the product development stage, the elimination of inconsistent ideas happens in the idea generation and screening stage, and decisions on packaging, branding, labeling, etc. are made in the product design stage.

Question 8

What are the major implications of the new-product development process and the diffusion process to marketing managers?

Accepted Answer

The answer of What are the major implications of the...

Question 9

_____ are the first 2.5 percent of all those who first adopt a new product.​

Accepted Answer

Innovators are the first to adopt a new product and they represent the first 2.5 percent of the total population. They are characterized by their risk-taking behavior and their willingness to try out new and unproven products. They are often financially secure and well-educated, and they rely on their own judgment rather than on the opinions of others. They are also more likely to be opinion leaders and trendsetters in their social circles.

Question 10

Central Bark Doggie Day Care opened the first day care center for dogs.It currently has 31 locations,with a new Gainesville,Florida,location coming soon.The concept of day care center for dogs became so popular that other competitors begin to enter the market.With competing companies such as Camp Bow Wow and others entering the market,it can be said that the concept of day care center for dogs is moving into the _____ stage of a product life cycle.​

Accepted Answer

The growth stage is characterized by the entry of competitors into the market as the concept gains popularity and demand increases. This is where we see increased sales and expansion of the product/service. Central Bark Doggie Day Care has already opened 31 locations and is opening a new one, indicating that they are in the growth stage.

Question 11

In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the _____.​

Accepted Answer

A long-run drop in a product's sales signals that it has reached its peak and is now declining, which is the hallmark of the decline stage in the product life cycle. This decline stage usually signals the end of the product's life cycle, as it becomes increasingly difficult for marketers to maintain a loyal customer base and generate profits from the product.

Question 12

During the _____ stage of the new-product development process,production starts,inventories are built up,the product is shipped to distribution points,the sales force is trained,and advertising and promotion begin.​

Accepted Answer

The commercialization stage is the final stage in the new-product development process where the new product is introduced to the market. Production is initiated, inventories are built up, and the marketing mix (advertising, sales promotion, pricing, and distribution) is designed and executed. Hence, option A is the correct answer.

Question 13

Explain in detail why a large proportion of new product introductions fail?

Accepted Answer

The answer of Explain in detail why a large proportion...

Question 14

Describe how a multinational corporation can most efficiently and effectively meet the needs of the global market.

Accepted Answer

The answer of Describe how a multinational corporation can most...

Question 15

In the context of the product characteristics that can be used to predict and explain the rate of acceptance and diffusion,_____ represents the degree of difficulty involved in understanding and using a new product.​

Accepted Answer

Complexity refers to the degree of difficulty involved in understanding and using a new product. Products that are too complex may not be easily adopted by consumers, whereas products that are simple and easy to understand may be more likely to be accepted and diffused.

Question 16

_____ are typically categorized by a sudden and unpredictable spike in sales followed by a rather abrupt decline.​

Accepted Answer

Fad items are characterized by a sudden surge in demand, often due to temporary popularity, and also by a rapid decline in sales once the trend fades. Consumer durable goods, product trends, and product life cycles may experience fluctuations in demand but typically do not have the same sudden and unpredictable spikes and declines as fad items.

Question 17

Nutritreat Industries Corp.is a manufacturer of food products.The company introduced chocolate cookies to the local market.After a period of initial success,the product lost its market and Nutritreat decided to withdraw chocolate cookies from the market.This scenario is an example of the _____ stage of a product life cycle.​

Accepted Answer

The scenario describes a situation where a product had initial success but later lost its market and had to be withdrawn, which is characteristic of the decline stage of a product life cycle.

Quiz 11: Developing and Managing Products

_____ have the longest product life cycles.

The process where all the involved areas-R&D,marketing,engineering,production,and even suppliers-work together rather than sequentially during a product's development is called _____.

Roger is always eager to own the latest cell phone model launched in the market.He makes it a point to buy new cell phones on the first day of their launch.He is also an active member of various online forums that discuss the latest technical developments.In this case,Roger is a(n) _____.

Explain the differences between the maturity stage and growth stage in the product life cycle.

Jeni's Splendid Ice Creams has decided to put its new Beet Cake with Black Walnut ice cream on the market.This product has entered the _____ stage of new-product development process.

The business analysis stage of a new-product development process _____.

What are the major implications of the new-product development process and the diffusion process to marketing managers?

_____ are the first 2.5 percent of all those who first adopt a new product.

In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the _____.

During the _____ stage of the new-product development process,production starts,inventories are built up,the product is shipped to distribution points,the sales force is trained,and advertising and promotion begin.

Explain in detail why a large proportion of new product introductions fail?

Describe how a multinational corporation can most efficiently and effectively meet the needs of the global market.

In the context of the product characteristics that can be used to predict and explain the rate of acceptance and diffusion,_____ represents the degree of difficulty involved in understanding and using a new product.

_____ are typically categorized by a sudden and unpredictable spike in sales followed by a rather abrupt decline.

Quiz 11: Developing and Managing Products

_____ have the longest product life cycles.​

The process where all the involved areas-R&D,marketing,engineering,production,and even suppliers-work together rather than sequentially during a product's development is called _____.​

Roger is always eager to own the latest cell phone model launched in the market.He makes it a point to buy new cell phones on the first day of their launch.He is also an active member of various online forums that discuss the latest technical developments.In this case,Roger is a(n) _____.​

Explain the differences between the maturity stage and growth stage in the product life cycle.

Jeni's Splendid Ice Creams has decided to put its new Beet Cake with Black Walnut ice cream on the market.This product has entered the _____ stage of new-product development process.​

The business analysis stage of a new-product development process _____.​

What are the major implications of the new-product development process and the diffusion process to marketing managers?

_____ are the first 2.5 percent of all those who first adopt a new product.​

In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the _____.​

During the _____ stage of the new-product development process,production starts,inventories are built up,the product is shipped to distribution points,the sales force is trained,and advertising and promotion begin.​

Explain in detail why a large proportion of new product introductions fail?

Describe how a multinational corporation can most efficiently and effectively meet the needs of the global market.

In the context of the product characteristics that can be used to predict and explain the rate of acceptance and diffusion,_____ represents the degree of difficulty involved in understanding and using a new product.​

_____ are typically categorized by a sudden and unpredictable spike in sales followed by a rather abrupt decline.​

_____ have the longest product life cycles.

The process where all the involved areas-R&D,marketing,engineering,production,and even suppliers-work together rather than sequentially during a product's development is called _____.

Roger is always eager to own the latest cell phone model launched in the market.He makes it a point to buy new cell phones on the first day of their launch.He is also an active member of various online forums that discuss the latest technical developments.In this case,Roger is a(n) _____.

Jeni's Splendid Ice Creams has decided to put its new Beet Cake with Black Walnut ice cream on the market.This product has entered the _____ stage of new-product development process.

The business analysis stage of a new-product development process _____.

_____ are the first 2.5 percent of all those who first adopt a new product.

In the context of the product life cycle,a long-run drop in a product's sales signals the beginning of the _____.

During the _____ stage of the new-product development process,production starts,inventories are built up,the product is shipped to distribution points,the sales force is trained,and advertising and promotion begin.

In the context of the product characteristics that can be used to predict and explain the rate of acceptance and diffusion,_____ represents the degree of difficulty involved in understanding and using a new product.

_____ are typically categorized by a sudden and unpredictable spike in sales followed by a rather abrupt decline.