Chapter 11 - Your Results: The correct answer for each...

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Your Results: The correct answer for each question is indicated by a . 1 INCORREC T Lack of profit in the introductory stage of the product life cycle is very often the result of: A) insufficient allocation of resources to the marketing mix. B) poor selection of distribution channels. C) high taxes. D) large investment costs in product development. E) ineffective execution of the marketing program. Feedback: The lack of profit is often a result of the large costs of product development. Page: 280, LO: 1 2 CORRECT When Texas Instruments (TI) introduced its pocket calculator it was a tremendous product innovation, and IT set the mail order price at $495. What is the name of the pricing strategy Texas Instruments used? A) rip off B) chiseling C) opportunistic D) skimming E) caveat emptor Feedback: Skimming pricing strategy charges a high price to recoup the costs of product development. Page: 281, LO: 1
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3 INCORREC T The videocassette recorder (VCR) was introduced to the market in the late 1970s. Ninety-one percent of American homes own at least one VCR. To maintain market share in the VCR market and to get customers to purchase additional VCRs, its manufacturers have continually provided for higher-quality recording capabilities and made the machines easier to watch and with different features that allowed for quicker location of recorded programs. Because the goal of VCR manufacturers is to maintain brand loyalty and market share, the product category is in the __________ stage of its product life cycle. A) introduction B) growth C) maturity D) decline E) harvesting Feedback: Product differentiation is a commonly used strategy for products in the maturity stage to maintain market share and brand loyalty. Page: 283, LO: 1 4 CORRECT Which of the following is likely to have the longest life cycle? A) ThermalPrene gloves that protect hands from intermittent contact with objects up to 400 degrees F, used in manufacturing B) a computer program for calculating individual and household income tax C) an SUV D) women's leather sandals E) toys from the latest Disney movie Feedback: Industrial products tend to have a much longer product life cycle than consumer products. Page: 285, LO: 1 5 INCORREC T An extended introduction stage of the product life cycle occurs for which type of product?
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A) high learning B) low learning C) fashion D) fad E) abnormal Feedback: A high learning product is one for which significant education of the customer is required, which results in an extended introduction stage of the product life cycle. Page: 285,
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This note was uploaded on 10/26/2009 for the course MKTG 3104 at Virginia Tech.

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Chapter 11 - Your Results: The correct answer for each...

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