Question 1

In the context of product characteristics and the rate of adoption, which of the following statements is true of complexity?

Accepted Answer

A)  It refers to the degree of difficulty involved in understanding and using a new product.
B)  It refers to the degree to which a new product is consistent with existing values.
C)  It refers to the degree to which a product is perceived as superior to existing substitutes.
D)  It refers to the degree to which a product can be tried on a limited basis.E) C) and D)
F) B) and C)

Question 2

Hakimo Corp., a manufacturer of audio equipment, has developed a unique wireless speaker system that runs on solar power. The speakers can operate for sixteen hours after being exposed to the sun for two hours. This new product, which is radically different from anything available in the market, would fall in the new product category of _____.

Accepted Answer

A)  repositioned products
B)  revised products
C)  discontinuous innovations
D)  new and improved productsE) A) and C)
F) All of the above

Question 3

Which of the following is a characteristic of products produced by multinational corporations?

Accepted Answer

A)  Products are developed to meet unique market requirements whenever possible.
B)  A firm that starts with a local strategy is better able to develop global products.
C)  Products are inadequately distributed in local markets.
D)  Test marketing is not required for products developed by multinational firms.E) B) and C)
F) C) and D)

Question 4

Unlike the growth stage of the product life cycle, in the introductory stage, emphasis switches from primary demand promotion to aggressive brand advertising and communication of the differences between brands.

Accepted Answer

A) True 
 B)False

Question 5

Nutrioats, an oatmeal cookie product, has been in the market for over seven years. However, the product is now in its decline stage. In this case, which of the following will be a successful strategy to market Nutrioats?

Accepted Answer

A)  Lengthening the product line
B)  Focusing on adding new users
C)  Spending heavily on advertising to educate consumers about the product's benefits
D)  Eliminating all nonessential marketing expenses and letting sales declineE) A) and B)
F) A) and C)

Question 6

A message developed for and targeted toward early adopters will be perceived similarly by late majority adopters.

Accepted Answer

A) True 
 B)False

Question 7

Daily Farm, a food and beverage manufacturing firm, is known for its unique variety of table sauces. To offer more variations to its customers, Daily Farm recently launched an olive and pepper sauce. The olive and pepper sauce belongs to the category of improved products.

Accepted Answer

A) True 
 B)False

Question 8

Marketing costs are high in the introductory stage of the product life cycle because:

Accepted Answer

A)  product design changes become stylistic rather than functional.
B)  high dealer margins are often needed to obtain adequate distribution.
C)  manufacturers scramble to sign up dealers and distributors.
D)  emphasis is given to communication of the differences between brands in the market.E) A) and B)
F) B) and C)

Question 9

During the maturity stage of the product life cycle, new users can be added indefinitely.

Accepted Answer

A) True 
 B)False

Question 10

In the context of diffusion of innovation, the dominant value of laggards is _____.

Accepted Answer

A)  skepticism
B)  deliberateness
C)  adventure
D)  traditionE) C) and D)
F) All of the above

Question 11

Which of the following statements is true of opinion leaders?

Accepted Answer

A)  They most likely belong to the late majority category of adopters.
B)  They speed up the diffusion process through word-of-mouth communication.
C)  They are distinguished by demographics.
D)  They have the longest adoption time and the lowest socioeconomic status.E) B) and C)
F) A) and C)

Question 12

In which of the following ways does the concept of product life cycle (PLC)  help marketing managers?

Accepted Answer

A)  It tells managers the length of a product's life cycle.
B)  It can be used to analyze a brand, a product form, or a product category.
C)  It dictates the marketing strategy to be used for a product.
D)  It informs marketers about the duration of a product in the various stages of its life cycle.E) A) and D)
F) None of the above

Question 13

In the context of the new-product development process, the decision to market a product is made during _____.

Accepted Answer

A)  commercialization
B)  test marketing
C)  development
D)  business analysisE) A) and D)
F) All of the above

Question 14

In the context of the new-product development process, which of the following is true of a new-product strategy?

Accepted Answer

A)  It refrains from adopting ideas suggested by customers and competitors.
B)  It is the last stage of the new-product development process.
C)  It must be compatible with the objectives of the marketing department, the business unit, and the corporation.
D)  It involves targeting existing products at new markets.E) A) and B)
F) C) and D)

Exam 11: Developing and Managing Products

In the context of the new-product development process, the decision to market a product is made during _____.

Correct Answer
verified

Nutrioats, an oatmeal cookie product, has been in the market for over seven years. However, the product is now in its decline stage. In this case, which of the following will be a successful strategy to market Nutrioats?

Correct Answer
verified

Which of the following statements is true of opinion leaders?

Correct Answer
verified

Which of the following is a characteristic of products produced by multinational corporations?

Correct Answer
verified

Unlike the growth stage of the product life cycle, in the introductory stage, emphasis switches from primary demand promotion to aggressive brand advertising and communication of the differences between brands.

Correct Answer
verified

A message developed for and targeted toward early adopters will be perceived similarly by late majority adopters.

Correct Answer
verified

In the context of diffusion of innovation, the dominant value of laggards is _____.

Correct Answer
verified

In which of the following ways does the concept of product life cycle (PLC) help marketing managers?

Correct Answer
verified

In the context of product characteristics and the rate of adoption, which of the following statements is true of complexity?

Correct Answer
verified

Marketing costs are high in the introductory stage of the product life cycle because:

Correct Answer
verified

Daily Farm, a food and beverage manufacturing firm, is known for its unique variety of table sauces. To offer more variations to its customers, Daily Farm recently launched an olive and pepper sauce. The olive and pepper sauce belongs to the category of improved products.

Correct Answer
verified

Correct Answer
verified

In the context of the new-product development process, which of the following is true of a new-product strategy?

Correct Answer
verified

During the maturity stage of the product life cycle, new users can be added indefinitely.

Correct Answer
verified

Exam 11: Developing and Managing Products

In the context of the new-product development process, the decision to market a product is made during _____.

Correct AnswerverifiedShow Answer

Nutrioats, an oatmeal cookie product, has been in the market for over seven years. However, the product is now in its decline stage. In this case, which of the following will be a successful strategy to market Nutrioats?

Correct AnswerverifiedShow Answer

Which of the following statements is true of opinion leaders?

Correct AnswerverifiedShow Answer

Which of the following is a characteristic of products produced by multinational corporations?

Correct AnswerverifiedShow Answer

Unlike the growth stage of the product life cycle, in the introductory stage, emphasis switches from primary demand promotion to aggressive brand advertising and communication of the differences between brands.

Correct AnswerverifiedShow Answer

A message developed for and targeted toward early adopters will be perceived similarly by late majority adopters.

Correct AnswerverifiedShow Answer

In the context of diffusion of innovation, the dominant value of laggards is _____.

Correct AnswerverifiedShow Answer

In which of the following ways does the concept of product life cycle (PLC) help marketing managers?

Correct AnswerverifiedShow Answer

In the context of product characteristics and the rate of adoption, which of the following statements is true of complexity?

Correct AnswerverifiedShow Answer

Marketing costs are high in the introductory stage of the product life cycle because:

Correct AnswerverifiedShow Answer

Daily Farm, a food and beverage manufacturing firm, is known for its unique variety of table sauces. To offer more variations to its customers, Daily Farm recently launched an olive and pepper sauce. The olive and pepper sauce belongs to the category of improved products.

Correct AnswerverifiedShow Answer

Correct AnswerverifiedShow Answer

In the context of the new-product development process, which of the following is true of a new-product strategy?

Correct AnswerverifiedShow Answer

During the maturity stage of the product life cycle, new users can be added indefinitely.

Correct AnswerverifiedShow Answer

Correct Answer
verified

Correct Answer
verified

Correct Answer
verified

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verified

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Correct Answer
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