Exam+1+2009

Exam+1+2009 - The following questions deal with the new...

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The following questions deal with the new Life-is-Great (LIG) Industries LIG is currently selling a number of products. Consider the following three. Product A had been on the market for more than one year. Unit weight was the only real difference between LIG’s product and the competition. The LIG product sold at a small discount to the competition and was widely available in only one or two models. The firm used reminder advertising extensively. Product B has been on the market for less than four months. LIG is spending a great deal on promotion creating product awareness. The product is available only in limited outlets and in limited styles. Product C is an enhanced version of Product A. The product is the same weight as Product A but has increased functionality. The product is broadly available in many different configurations. Competitors are entering the market with “me-too” products. 1) Which of the three products is in the introductory stage of the product life cycle? A) Product A B) Product B The keys are of course the type of promotion and the fact that the product is narrowly distributed in limited styles. C) Product C D) None of the products is in that stage E) More than one of the three products are in that stage. 2) Which of the three products is in the mature stage of the product life cycle? A) Product A The key here is that Product A is using reminder advertising and widely available in only a few models – Product C is in the growth stage as competitors are still entering the market increasing product proliferation. B) Product B C) Product C D) None of the products is in that stage E) More than one of the three products are in that stage. End of questions dealing with LIG 3) If a retailer sells a lawnmower for $165 and had marked it up by 30%, the retailer paid _____ for the lawnmower. A) Less than $120 B) Between $120 and $125 C) Between $125 and $130 126.92 D) Between $130 and $135 E) More than $135 4) A local symphony group that has adopted the marketing concept would be most likely to
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A) lower ticket prices until all its concerts sell out. B) advertise so consumers know about the quality of the musicians who play in its concerts. C) find out what kind of music local residents want to hear. The marketing concept involves, among other things, attuning your product offering to the market you are trying to reach D) use only its best musicians to handle solo performances. E) All of the above. 5) A public utility that has adopted the marketing concept would be most likely to A) set up a special service to help consumers reduce expensive peak-hours energy consumption . The marketing concept also includes some recognition of the need to provide customers with improvee product usage capabilities. B) lower prices until almost all consumers felt that prices were fair.
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This note was uploaded on 02/06/2012 for the course SMG SM 122 taught by Professor Roberts during the Spring '09 term at BU.

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Exam+1+2009 - The following questions deal with the new...

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