Mrkt 444 Chapter 7

question

When a company can show that its product’s projected lifetime is high under certain operating conditions, it is using _____ as a product discriminator.
answer

durability
question

When companies provide too few products in a product line, they run the risk of _____.
answer

missing important market opportunities
question

The objective in the introduction phase of the product life cycle (PLC) is to _____.
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build market awareness for the product leading to trial purchase
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In the introduction phase of the product life cycle (PLC), it is important to _____.
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inform and educate the target audience about the product’s features and benefits
question

The most dramatic increase in revenue is most likely to occur in the _____ phase of the product life cycle.
answer

growth
question

In the growth phase of the product life cycle, marketing communications _____.
answer

link the brand with key product features and highlight differentiation between competitors
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During the maturity phase of the product life cycle, _____
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sales grow, but at a rate lower than the growth stage
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In the maturity phase of the product life cycle, the targeted consumers are _____.
answer

majority adopters
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During the maturity phase of the product life cycle,_____.
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product reaches its maximum distribution
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Which of the following characterizes the decline stage of the product life cycle?
answer

Significant price pressures come from both competitors and more price-sensitive consumers.
question

In the B2B market, market testing is _____.
answer

smaller in scope and involves fewer individuals and companies
question

In the _____ phase of the product life cycle (PLC), sales continue to increase but at a decreasing rate.
answer

Maturity
question

Which of the following is an overall evaluation of a product and usually assesses the product’s probability of success?
answer

Business case analysis
question

What refers to the fundamental need met by a product?
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Essential benefit
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In the context of product characteristics, companies translate the essential benefit into physical, tangible elements known as the _____.
answer

Core product
question

Which of the following helps clarify the basic operationalization of a product such as the physical characteristics and features?
answer

Alpha Testing
question

In the context of product classifications, tangibility refers to the _____.
answer

Physical aspect of a product
question

Clothes, furniture, and major appliances such as refrigerators and dishwashers are examples of _____.
answer

Shopping goods
question

_____ are unique purchases made based on a defining characteristic for the consumer, which might be a real or perceived product feature such as Apple iPhone’s easy user interface.
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Specialty goods
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A _____ is a group of products linked through usage, customer profile, price points, and distribution channels.
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Product line
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Combining all the products offered by a company is called the _____.
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product mix
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_____ is the percentage of time the product works without failure or stoppage.
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Reliability
question

The product life cycle (PLC) defines the life of a product in four basic stages, which includes_____.
answer

Introduction, growth, maturity, and decline
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The essential marketing objective in the growth phase of the product life cycle (PLC) is to _____.
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differentiate the product from those of new competitors
question

Products that are new-to-the-world create a fundamental change in the marketplace and are known as _____.
answer

Disruptive innovations

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