PRODUCT 1. In which stage of the product life cycle should product strategy focus on pro cess modifications? a.

introduction b. growth c. maturity d. decline 2. Which of the following would likely cause a change in market opportunities ba sed upon levels of income and wealth? a. economic change b. technological change c. political change d. legal change 3. a. b. c. d. A product's life cycle is divided into four stages, which are introduction, growth, saturation, and maturity introduction, growth, stability, and decline introduction, maturity, saturation, and decline introduction, growth, maturity, and decline

4. In which stage of the product life cycle should product strategy focus on for ecasting capacity requirements? a. introduction b. growth c. maturity d. decline 5. Which of the following helps operations managers direct their efforts toward those items that show the greatest promise? a. value engineering b. financial analysis c. product cost justification d. product-by-value analysis 6. In which stage of the product life cycle should product strategy focus on imp roved cost control? a. introduction b. growth c. maturity d. decline 7.The product life cycle presents two major challenges. First, a firm must be go od at developing new products to replace aging ones. Second, a firm must be good at: a. adapting its marketing strategies in the face of changing tastes, technologie s, and competition as products pass through life-cycle stages. b. image building to ensure that products sell well. c. primary demand forecasting so product winners can be chosen rather than making poor investments with product losers. d. acquisition of other companies since this is the only real way to ensure new product success--go with what has worked in the past. 8. ng a. b. c. A firm can obtain new products in two ways. First, it can develop them by usi its own research and development department. Second, it can: steal them. get them through acquisition. transfer them between divisions.

d. copy them. 9.Original products, product improvements, product modifications, and new brands that a firm develops through its own research and development efforts are calle d: a. new products. b. concept products. c. altered products. d. supplemental products. 10. Which of the following would be a key success factor in developing new produ cts? a. a well-defined product concept b. a product priced well below market or industry standards c. a product that appeals to the late majority d. a product that can be sold over the Internet with a minimum of explanation 11. To create successful new products, a company must understand consumers, mark ets, and competitors and: a. develop a great advertising campaign. b. have a strong Web site to push the product. c. adopt a push rather than pull promotional concept. d. develop products that deliver superior value to consumers. 12. Which of the following best describes the first stage of the new-product dev elopment process? a. idea screening b. concept development and testing c. idea generation d. business analysis 13. According to the text, all of the following are thought to be sources of new -product ideas EXCEPT: a. internal sources. b. customers. c. competitors. d. the local library. 14. ________________ is screening new-product ideas in order to spot good ideas and drop poor ones as soon as possible. a. Idea generation b. Concept development and testing c. Idea screening d. Brainstorming 15. One reason that idea screening is a critical stage in the new-product develo pment process is that: a. product-development costs rise greatly in later stages and the company only w ants those products that can succeed. b. competitors can quickly steal ideas so the company wants only those ideas tha t can be protected with patents. c. international competition and markets demand that all ideas be culturally sen sitive. d. the Federal government carefully monitors each company s idea screening process to make sure no national security matters are at stake.

16.A _______________ is an idea for a possible product that the company can see itself offering to the market. a. product idea b. product image c. product concept d. product feature 17.A ___________________ is a detailed version of the idea stated in meaningful consumer terms. a. product idea b. product image c. product concept d. product feature 18. A ____________________ is the way consumers perceive an actual or potential product. a. product idea b. product image c. product concept d. product feature 19.Presenting new-product ideas to consumers in symbolic or physical ways to mea sure their reactions occurs during which of the following stages? a. idea generation b. concept testing c. marketing strategy d. screening 20.Designing an initial marketing strategy for a new product based on the produc t concept is called: a. screening. b. business analysis. c. product development. d. marketing strategy development. 21. The marketing strategy statement consists of three parts. All of the followi ng would be among those parts EXCEPT: a. description of the production flow diagrams. b. description of the target market. c. the planning product positioning. d. the sales, market share, and profit goals for the first few years. 22.When a company reviews sales, costs, and profit projections for a new product to find out whether these factors satisfy the company s objectives, they are in whi ch of the following new-product development stages? a. concept development and testing b. commercialization c. business analysis d. marketing strategy development 23. Looking at the sales history of similar products and surveying market opinio n are tools used at which stage in the new-product development process? a. concept development and testing b. commercialization c. business analysis d. marketing strategy development 24.A company is in the ______________ stage of the new-product development proce ss when the company develops the product concept into a physical product in orde

r to assure that the product idea can be turned into a workable product. a. product development b. commercialization c. marketing strategy d. business analysis 25.Introducing a new product and marketing program to more realistic market sett ings following functional and consumer approval is carried out at which new-prod uct development stage? a. idea generation b. screening c. marketing strategy d. test marketing 26. The FIRST decision that must be reached by the company that is introducing a new product is: a. where to introduce. b. the distribution process. c. the timing of the introduction. d. the number of outlets to be included in the rollout. 27.When Colgate-Palmolive uses a ________________ strategy, they pick certain co untries for new-product introductions before general introduction to entire regi ons or continents. a. gray market b. primo country c. demand-based d. lead-country 28. The course of a product s sales and profits over its lifetime is called: a. the sales chart. b. the dynamic growth curve. c. the adoption cycle. d. the product life cycle. 29.The ______________ is characterized by five distinct stages: product developm ent,introduction, growth, maturity, and decline. a. adoption cycle b. fashion process c. product life cycle d. style curve 30. With respect to the product life cycle, the _____________ begins when the co mpany finds and develops a new-product idea. a. product development stage b. introduction stage c. growth stage d. maturity stage

31. With respect to the product life cycle, the _______________ is a period of r apid market acceptance and increasing profits. a. product development stage b. introduction stage c. growth stage d. maturity stage 32. In terms of special product life cycles, a _____________ is a basic and dist

inctive mode of expression. a. genre b. style c. fashion d. fad 33. A concentration on producing a basic version of a product by a firm and its competitors is typical of which stage in the product life cycle? a. product development stage b. introduction stage c. growth stage d. maturity stage 34. In the maturity phase of the PLC, a marketing manager should consider: a. dropping the product and moving on to the next product winner. b. modifying the market, product, and marketing mix. c. expanding R & D. d. pricing to penetrate the market. 35. Technological advances, shifts in consumer tastes, and increased competition , all of which reduce demand for a product, are typical of which stage in the PL C? a. decline stage b. introduction stage c. growth stage d. maturity stage 36. As a product reaches its decline stage of the PLC, management may decide to __________ the product, which means reducing various costs and hoping that sales hold up. a. disengage b. drop c. harvest d. cultivate

37.The stage in the product life cycle that focuses on using a cost-plus formula and creating product awareness and trial is the: a. decline stage. b. introduction stage. c. growth stage. d. maturity stage. 38. The stage in the product life cycle where the strategic focus is on market p enetration and building intensive distribution is the: a. decline stage. b. introduction stage. c. growth stage. d. maturity stage. 39. The stage in the product life cycle where the strategic focus is on reducing expenditures and milking the brand while cutting prices is called the: a. decline stage. b. introduction stage. c. growth stage. d. maturity stage . 40. New to the world products represent those products that a. Use patented technology

b. Create a new market c. Create a new technology d.Use advanced technology