quiz009 - Chapter 09 Quiz Product Management and NewProduct...

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Chapter 09 Quiz - Product Management and New- Product Development 1. The product life cycle has four stages. Which of the following is not one of these? 1. Market introduction 2. Market growth 3. Market maturity 4. Economic competition 5. Sales decline Feedback: LearnObj: 1 Page: 221 2. During the introduction stage of the product life cycle, 1. "me-too" products quickly take market share away from the innovator. 2. most products achieve intensive distribution. 3. industry profits are at their highest. 4. promotion is likely to be needed to build primary demand. 5. None of the above is true. Feedback: LearnObj: 1 Pages: 221-222 3. During the market introduction stage of the product life cycle: 1. considerable money is spent on promotion while place development is left until later stages. 2. products usually show large profits if marketers have successfully carved out new markets. 3. most potential customers are quite anxious to try out the new-product concept. 4. funds are being invested in marketing with the expectation of future profits. 5. product and promotion are more important than place and price. Feedback: LearnObj: 1 Page: 222 4. In which of the following situations is the new product entering the MARKET INTRODUCTION stage of the product life cycle? 1. Porsche just introduced a new luxury sport-ute to compete against sport-utes made by others. 2. Colgate-Palmolive just introduced a "new and improved" chemical formula for its "Total" toothpaste.
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3. Home Depot (a home improvement chain) just introduced its own dealer brand of paint. 4. Apple just introduced a computer operating system that is so "user-friendly" it responds to spoken commands. 5. All of the above. Feedback: LearnObj: 1 Pages: 221-222 5. Regarding product life cycles, good marketing managers know that: 1. all competitors lose money during the sales decline stage. 2. they are getting longer. 3. industry sales reach their maximum during the market growth stage.
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