Question 1

Product life cycle refers to

Accepted Answer

a concept that describes the stages a new product goes through in the marketplaceâintroduction, growth, maturity, and decline product.

Question 2

Lack of profit in the introductory stage of the product life cycle is very often the result of

Accepted Answer

large investment costs in product development.

Question 3

The marketing objective for a product in the _________ stage of the product life cycle is to create consumer awareness and gain trial.

Accepted Answer

Introduction

Question 4

Gillette spent $200 million in advertising to introduce the Fusion shaving system to male shavers. Such expenditures are often made to stimulate primary demand, or desire for _________, rather than for a specific brand, when there are no competitors with the same product.

Accepted Answer

The product class

Question 5

For years when most consumers thought of cranberries, they thought of the Ocean Spray brand. Then Northland cranberry juice came on the market claiming that it was superior to the Ocean Spray brand. Northland was creating _________ demand for its cranberry products.

Accepted Answer

Selective

Question 6

Which stage in the product life cycle is characterized by a rapid increase in sales and the appearance of competitors?

Accepted Answer

Growth

Question 7

Which of the following is a characteristic of the growth stage of the product life cycle?

Accepted Answer

advertising shifts emphasis to stimulate selective demand

Question 8

Changes appearing in the product, characteristically take place in the ________ stage of the product life cycle.

Accepted Answer

growth

Question 9

In what stage of the product life cycle is it important to gain as much distribution of the product?

Accepted Answer

growth

Question 10

What stage of the product life cycle do marginal competitors begin to leave the market?

Accepted Answer

Maturity

Question 11

During the maturity stage of the product life cycle, profit declines because

Accepted Answer

there is fierce price competition among sellers

Question 12

Sales and profits both exhibit a steady downward trend throughout which stage of the product life cycle?

Accepted Answer

Decline

Question 13

Profits tend to consume a disproportionate share of management and financial resources relative to their worth throughout which stage of the product life cycle?

Accepted Answer

Decline

Question 14

The shapes of the product life cycle for high-learning, low-learning, fashion, and fad products vary as does __________.

Accepted Answer

the actual length of time a given product stays in any given stage of the cycle

Question 15

Interactive television with video-on-demand capabilities changes how people watch television and how consumers access the Internet. This technology requires significant customer education for most people. What type of a product life cycle would be associated with this product?

Accepted Answer

high-learning

Question 16

A(n) _____________ product is one for which significant customer education is required and there is an extended introductory period.

Accepted Answer

high-learning

Question 17

An alternative product life cycle that results from products that are easily imitated by competitors, consumers who readily understand their benefits, and for which the appropriate marketing strategy is to gain strong distributor outlets is characteristic of __________ products.

Accepted Answer

Low learning

Question 18

Products that are introduced, decline, and seem to return are characteristic of the __________ type of product life cycle.

Accepted Answer

fashion

Question 19

Products that experience rapid sales on introduction and then an equally rapid decline are called _________.

Accepted Answer

Fad products

Question 20

Imagine Eveready has developed solar rechargeable batteries that cost only slightly more to produce than regular batteries (less than the rechargeable batteries currently available) and can be recharged by sunlight up to 5 times, after which they are meant to be discarded. Unfortunately, the production process cannot be patented, and competitors could arrive within a few months. Which of the following is the best description of the product life cycle of this product?

Accepted Answer

moderately slow introduction, followed by modest growth, gradually leveling off

Question 21

The life cycle of a product depends on sales to _________.

Accepted Answer

consumers

Question 22

The key idea behind diffusion of innovation is that

Accepted Answer

not all consumers accept a new product at the same time; adoption of a product spreads slowly throughout the population.

Question 23

The classifications of innovator, early adopters, early majority, laggards, and late majority are all based upon

Accepted Answer

when they adopt a new product

Question 24

For any product to be successful, it must be purchased by

Accepted Answer

Innovators and early adopters

Question 25

As product adopters, innovators typically

Accepted Answer

venturesome, better educated than other product adopters, and use multiple information sources

Question 26

As product adopters, members of the late majority typically

Accepted Answer

are skeptical and have below average social status

Question 27

If a customer is reluctant to try a new product because he\'d have to change his normal every day behaviors, the company is most likely facing a __________ barrier.

Accepted Answer

usage

Question 28

There are several reasons why a consumer would be reluctant to purchase a new product. One example would be a value barrier. A value barrier occurs when

Accepted Answer

there is no incentive to change.

Question 29

There are several reasons why a consumer would be reluctant to purchase a new product. One example would be a risk barrier. A risk barrier occurs when

Accepted Answer

there are physical, economic, or social risks

Question 30

There are several reasons why a consumer would be reluctant to purchase a new product. One example would be a psychological barrier. A psychological barrier occurs when

Accepted Answer

there are cultural differences or affects on image

Question 31

Another name for product manager is

Accepted Answer

Brand Manager

Question 32

Introduced by Procter & Gamble in 1928, and used by such consumer goods firms as General Foods and PepsiCo and by industrial firms such as Intel and Hewlett-Packard, the product manager manages the marketing efforts for

Accepted Answer

a close-knit family of products or brands.

Question 33

Strategies that might alter a product\'s characteristic such as its quality, performance, or appearance to increase the product\'s value to customers and increase sales are referred to as _____________.

Accepted Answer

product modification

Question 34

Introduced by Procter & Gamble in 1928, and used by such consumer goods firms as General Foods and PepsiCo and by industrial firms such as Intel and Hewlett-Packard, the product manager manages the marketing efforts for

Accepted Answer

a close-knit family of products or brands

Question 35

Strategies that might alter a product\'s characteristic such as its quality, performance, or appearance to increase the product\'s value to customers and increase sales are referred to as _____________.

Accepted Answer

product modification

Question 36

Alka-Seltzer was made originally a hangover remedy that cured the headache and settle stomach. Today, you can purchase Original Alka-Seltzer, Extra strength Alka-Seltzer, Alka-Seltzer Morning Relief(for morning headaches and fatigue), and Alka-Seltzer Heartburn Relief. To extend the product\'s sales to new markets. the makers of Alka-Seltzer have used

Accepted Answer

product modifaction

Question 37

A strategy for managing a product\'s life cycle that attempts to increase a product\'s use among existing customers, create new use situations, or find new customers is referred to as

Accepted Answer

market modification.

Question 38

Market modification refers to

Accepted Answer

a strategy for managing a product\'s life cycle that attempts to increase a product\'s use among existing customers, create new use situations, or find new customers markets.

Question 39

Mott\'s applesauce promotes using it as a low-fat alternative to cooking oil in baking. Mott\'s is

Accepted Answer

creating new use situations through a market modification strategy

Question 40

Originally intended as a single pant for every situation, Dockers, the U.S. market leader in casual pants now promotes different looks for different usage situations work, weekend, dress, and golf. Dockers new strategy is designed to

Accepted Answer

create a new use situation

Question 41

Originally intended as a single pant for every situation, Dockers, the U.S. market leader in casual pants now promotes different looks for different usage situations work, weekend, dress, and golf. Dockers new strategy is designed to

Accepted Answer

create a new use situation

Question 42

Changing the place a product occupies in a consumer\'s mind relative to competitive products is referred to as

Accepted Answer

product repositioning

Question 43

Sealy, the largest manufacturer of mattresses in the U.S. recently set out to redefine its place in the bedrooms of America. No longer was it going to be associated as simply a mattress company. Henceforth, the name Sealy was going to be known as the world\'s leading \"sleep wellness provider.\" This is an example of _________.

Accepted Answer

repositioning

Question 44

For many years, Kellogg\'s Frosted Flakes, a ready-to-eat breakfast cereal, was perceived as a cereal for children. Tony the Tiger, a cartoon character, extolled Frosted Flakes, and advertisements depicted children enjoying the product in competitive situations. Recently, in response to declining sales of Frosted Flakes, the cereal-maker has adopted a new series of advertisements that show adults admitting they enjoy Frosted Flakes, too. Kellogg\'s is attempting to

Accepted Answer

reposition its product

Question 45

New Coke was repositioned as a slightly sweeter, less filling soft drink because the Coca-Cola Company discovered that its 1984 marketshare in supermarkets was 2 percent behind Pepsi. This product repositioning strategy was

Accepted Answer

a reaction to a competitor\'s position

Question 46

Old Spice antiperspirant was repositioned from a deodorant your grandfather might use to a strong, hip antiperspirant through commercials that showed the target market of 18 to 30 year old men advocating its use and through a money-back guarantee. P & G used this strategy with its Old Spice brand antiperspirant to

Accepted Answer

reach a new market

Question 47

Adding value to the (or line) through additional features or higher-quality materials, is referred to as

Accepted Answer

trading up

Question 48

The strategy of trading down involves

Accepted Answer

reducing the number of features, quality, or price of a product

Question 49

A marketing decision in which an organization uses a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors is referred to as

Accepted Answer

branding

Question 50

The term branding refers to

Accepted Answer

a marketing decision in which an organization uses a name, phrase, design, symbol, or combination of these to identify its products and distinguish them from those of competitors.

Question 51

Any word, device (design, sound, shape, or color), or combination of these used to distinguish a seller\'s goods or services is referred to as a ___________.

Accepted Answer

brand name

Question 52

The apple that appears on every Apple computer product is an example of a

Accepted Answer

brand name

Question 53

Georgia-Pacific reduced the content of its Brawny paper towel six roll pack by 20 percent without lowering the price. Georgia-Pacific used

Accepted Answer

downsizing

Question 54

Consumer advocates believe the practice of downsizing by consumer products firms has resulted in

Accepted Answer

a subtle, yet deceptive practice of taking advantage of consumers\' buying habits by offering less product content in the same or larger package while maintaining or increasing the price.

Question 55

One of the primary benefits of branding for consumers is that branding

Accepted Answer

makes decision making easier

Question 56

Brand personality refers to

Accepted Answer

a set of human characteristics associated with a brand name.

Question 57

The added value a brand name gives to a product beyond the functional benefits provided is referred to as _________.

Accepted Answer

brand equity

Question 58

Brand name importance to a company has led to a concept called brand equity, the added value a brand name gives to a product beyond the functional benefits provided. This value has two distinct advantages: (1) it creates a competitive advantage and (2)

Accepted Answer

customers are often willing to pay a higher price

Question 59

The four steps in the sequential building process of brand equity include positive brand awareness, establishing a brand\'s meaning in the minds of consumers, eliciting the proper consumer responses to a brand\'s identity and meaning, and to _________.

Accepted Answer

create a consumer-brand connection

Question 60

When selecting a brand name it is recommended that the name suggests product features; be memorable; have no legal or regulatory restrictions; be distinctive and positive; fit the company or product image; be simple and emotional and

Accepted Answer

be memorable, distinctive, and positive.

Question 61

A branding strategy in which a company uses one name for all its products in a product class is referred to as

Accepted Answer

multiproduct branding

Question 62

Toro makes Toro snow blowers, Toro lawn mowers, Toro garden hoses, and Toro sprinkler systems. Toro is using a __________ branding strategy

Accepted Answer

family branding

Question 63

When a company uses line extension it is

Accepted Answer

manufacturing a new product with the current brand name to enter a new market segment in its product class

Question 64

Combining a corporate brand with a new brand is referred to as

Accepted Answer

subbranding

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