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7 terms

mini test 5

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The Boston Consulting Group matrix is a 2x2 matrix with four positions: cash cows, stars, problem children (or question marks) and dogs. When looking at market segments, the portfolio approach is a useful tool for:
The BCG matrix is useful for all of these.
Which of the following statements about fashion is FALSE?
Forecasting is less important for fashion than it is for other products.
What concept was the instructor trying to illustrate when he discussed the "stupid customer" syndrome?
That manufacturers of products tend to focus on the features they build into a product rather than on the customer's perception of value.
Which of the following is an example of a product?
All of these are products.
The new product development process has seven stages going from new product strategy development to commercialization. At which stage will a company typically first create a physical prototype of a new product?
Technical development
The Boston Consulting Group matrix is a 2x2 matrix with ___________ on one axis and ___________ on the other axis. This creates four positions: cash cows, stars, problem children (or question marks) and dogs.
market growth rate, relative market share
Which of the following is NOT a characteristic of a product line?
Tend to be the same from company to company