Terms in this set (20)
An industry with oligopolistic competition faces falling profits, and its sales growth is slow. Demand for individual brands has become quite elastic—as consumers see competing products as almost homogeneous. Several firms have dropped out. Which of the following stages of the product life cycle does this indicate?
Which of the following would not be good advice for an organization trying to make new-product development a total company effort?
Use only R&D insights to drive market needs.
Using total quality management to improve the implementation of a marketing plan is likely to involve:
the training and empowerment of employees to identify and solve customer problems.
Whirlpool introduced a new high gloss white finish to its refrigerators. This innovation would be classified as a:
BlueSpray Co. has created a new clothes dryer that operates on light waves. The company has created a prototype and is testing a marketing mix. The product manager has developed an estimate of the return on investment. Considering these activities, the product is most likely in the _____ stage of the new-product development process.
Which of the following statements regarding the market growth stage of the product life cycle is FALSE?
Innovators still earn profits—but this stage is less profitable for them than the previous stage.
Which of the following is true of the types of new product categories?
Discontinuous innovations require that customers adopting the innovation significantly change their behavior.
The Consumer Product Safety Commission can:
All of these alternatives are correct.
Which of the following strategies is NOT used to rejuvenate the sales of a product that is heading toward the sales decline stage of the product life cycle?
Devising a phase-out strategy
A new product that requires minor changes in customer behavior:
is called a dynamically continuous innovation.
Which of the following is not one of the stages of the product life cycle?
Product or brand managers are commonly used when a firm:
has several different kinds of products or brands.
Product ideas that survive the screening and idea evaluation steps get further investment of time and money, including the creation of a(n) _____, which is an early sample or model built to test a concept.
Which of the following statements about organizing for new-product development is true?
For a firm to be successful in its new product development endeavors, it should encourage a culture that supports innovation.
Which of the following statements is true of a second-mover?
A second-mover is one that quickly follows a pioneer.
When Yahoo! develops new online services, the company develops a version of the service and shows it to customers. It solicits immediate feedback and then revises the trial version of the product. This process is continued. In this case, Yahoo! is utilizing ______.
Which of the following statements is true of the market introduction stage of the product life cycle?
In this stage, there is a need for informative promotion.
_____ means the legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products.
Which of the following statements about fashion-related products is FALSE?
Fashion products have longer life cycles.
Cloud Storage Solutions works closely with customers—showing them early versions of its software and interface and then quickly making changes based on customer feedback before soliciting feedback again. The company wants to fail early and often so that it quickly brings to market a product that meets customer needs. In this scenario, Cloud Storage Solutions is using:
a co-creation process.