Which stage in the plc normally lasts longest and poses strong challenges to marketing managers?

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Terms in this set (23)

Which of the following is NOT a challenge presented by the product life cycle that a firm must face?

a. All products eventually decline.
b. Changing tastes, technologies, and competition affect the marketing of the product as it passes through life-cycle stages.
c. A firm must be good at developing new products to replace aging ones.
d. A firm must be good at adapting its marketing strategies.
e. It is difficult to plot the stages as a product goes through them.

e

What are the two ways that a company can obtain new products?

a. line extension and brand management
b. internal development and brand management
c. new-product development and acquisition
d. service development and product extension
e. market mix modification and research and development

c

Which of the following is NOT a potential reason for a new product to fail?
a. an underestimated market size
b. a poorly designed product
c. an incorrectly positioned product
d. higher than anticipated costs of product development
e. ineffective advertising

a

Which of the following is the practice of inviting broad communities of customers, employees, independent researchers, and members of the public into the new-product innovation process?
a. brainstorming
b. idea screening
c. crowdsourcing
d. outsourcing
e. concept testing

c

During the _____ stage of the product life cycle, profits level off or decline because of increased marketing outlays to defend a product against competition.
a. growth
b. decline
c. maturity
d. introduction

c

Which of the following have the longest life cycles?

a. Brands
b. Product classes
c. Product forms
d. Fads
e. Fashions

b

In the _____ stage of PLC, profits are negative or low because of the low sales and high distribution and promotion expenses.

a. growth
b. introduction
c. maturity
d. decline

b

Which of the following is true of the growth stage of the product life cycle?

a. Early adopters will stop buying.
b. Strategies used include maintaining, harvesting, or dropping products.
c. Firms face a trade-off between high market share and high current profit.
d. Competitors move out of the market in the later-half of this stage.

c

In a ________, new products and marketing tactics are tested online in a virtual shopping environment.
a. controlled test market
b. simulated test market
c. standard test market
d. random test market
e. single-city test market

b

Bonneville Communications is concerned about test marketing its new device. Which of the following is NOT a disadvantage of test marketing that would likely concern Bonneville Communications?
a. Test marketing costs can be high.
b. It can take a lot of time to test market.
c. Test marketing allows time for competitors to spy and gain advantages.
d. People who are surveyed tend to tell less than the truth.
e. Test marketing does not guarantee success.

d

Under what circumstances might it be wise for a company to do little or no test marketing?
a. when a new product requires a major investment
b. when management is not sure of the product
c. when management is not sure of the marketing program
d. when the product has no substitutes and is new in its category
e. when the costs of developing and introducing the product are low

e

Increasing profits will most likely occur at which stage of the PLC?
a. introduction
b. maturity
c. growth
d. decline
e. product development

c

Which stage in the PLC normally lasts longest and poses strong challenges to the marketing managers?
a. growth
b. decline
c. maturity
d. phase-in
e. adoption

c

When a product is in the maturity stage, the company should consider ________.
a. harvesting the product
b. modifying the product, market, or marketing mix
c. divesting the product
d. liquidating the product
e. dropping the product

b

The advantages of standardizing an international product include all of the following EXCEPT ________.
a. the development of a consistent image
b. lower product design costs
c. the adaptation of products to different markets
d. decreased manufacturing costs
e. lower marketing costs

c

JoAnn Fabrics, Inc. has just created a new combination of colors and fabric types. The firm wants to be sure of the way consumers think about its new product. The firm is concerned with the product ________.
a. idea
b. screening
c. image
d. commercialization
e. presentation

c

P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Foods became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. This act illustrates ________.
a. why many companies engage in test marketing
b. one of the problems associated with test marketing
c. why prototypes are so important
d. how idea screening can make a product a commercial success
e. the variety of sources for idea generation

b

Yummy Peanut Butter has a new peanut butter and bacon product and finds a small number of representative test cities. The company plans to use the results to forecast national sales and profits. Yummy is using ________.
a. controlled test markets
b. simulated test markets
c. standard test markets
d. random test markets
e. single-city test markets

c

P&G introduced its Duncan Hines ready-to-spread frosting in a small geographic area. When General Foods became aware of the product, it rushed to market its own Betty Crocker ready-to-spread frosting, which eclipsed the Duncan Hines product introduction. General Foods was able to enter the ________ stage of the new-product development process before P&G could.
a. commercialization
b. business analysis
c. idea generation
d. screening
e. product concept development

a

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.
a. A) introduction
b. B) product development
c. C) maturity
d. D) decline
e. E) adoption

c

When Heinz introduced EZ Squirt packaging and new colors such as Blastin' Green and Awesome Orange to revitalize consumer buying, the company was ________.
a. A) modifying the market
b. B) modifying the pricing strategy
c. C) modifying the distribution
d. D) modifying the product
e. E) dropping the product

c

P&G 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.
a. A) further test
b. B) maintain
c. C) drop
d. D) harvest
e. E) ignore the test market results of

c

When Kraft focused on cost-cutting with its older and established brands, leaving them to wither without much investment or modification, Kraft decided to ________ the older products.
a. A) extend
b. B) maintain
c. C) drop
d. D) harvest
e. E) review

d

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