Marketing Final Exam

Thinking msc blooms comprehension ref 182 obj 11 5 key

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Unformatted text preview: ive MSC: BLOOMS Comprehension 26. Profits typically reach their peak during the growth stage of the product life cycle. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Comprehension REF: 182 OBJ: 11-5 KEY: CB&E Model Product 27. During the maturity stage of the product life cycle, marginal competitors start dropping out of the market. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Comprehension REF: 182 OBJ: 11-5 KEY: CB&E Model Product 28. Many products may experience short-term fluctuations in sales, but a long-term drop in sales probably signifies that a product is in the decline stage of the product life cycle. ANS: T PTS: 1 TOP: AACSB Reflective Thinking MSC: BLOOMS Comprehension REF: 183 OBJ: 11-5 KEY: CB&E Model Product 29. The product life cycle concept encourages marketing managers to act reactively. ANS: F The product life cycle concept encourages marketing managers to plan so that they can take the initiative instead of reacting to past events. PTS: 1 REF: 183 Thinking KEY: CB&E Model Product OBJ: 11-5 TOP: AACSB Reflective MSC: BLOOMS Comprehension MULTIPLE CHOICE 1. New products are important to a company for all the following reasons EXCEPT: a. increased revenues b. immediate profits c. sustained growth d. replacement of obsolete items e. increased profits ANS: B While new products bring the potential advantage of increased margins, they do not bring immediate profit. PTS: 1 REF: 171 Thinking KEY: CB&E Model Product OBJ: 11-1 TOP: AACSB Reflective MSC: BLOOMS Analysis 2. New-to-the-world products, where the product category itself is new, are also called: a. discontinuous innovations b. moderate innovations c. slow-diffusing products d. venture products e. creative offerings ANS: A These products create an entirely new market. PTS: 1 REF: 171 Thinking KEY: CB&E Model Product OBJ: 11-1 TOP: AACSB Reflective MSC: BLOOMS Knowledge 3. Sony has developed a wireless speaker that sits unobtrusively on a desktop. The tiny yet strong twin speakers use Bluetooth to stream music directly from a PC or MP3 player. This small Sony wireless speaker, which is radically different from anything currently on the market, would be classified as a(n): a. b. c. d. e. discontinuous innovation slow-diffusing product episodic innovation venture product sporadic innovation ANS: A New-to-the-world products, where the product category itself is new, are also called discontinuous innovations. PTS: 1 REF: 171 Thinking KEY: CB&E Model Product OBJ: 11-1 TOP: AACSB Reflective MSC: BLOOMS Application 4. Which of the following would be considered a new product? a. A new product line b. A new-to-the-world product c. An addition to an existing product line d. An improvement or revision of an existing product e. All of these choices ANS: E A new product is a product new to the world, the market, the producer, the seller, or some combination of these, and there are six categories of new products. PTS: 1 REF: 171-172 Thinking KEY...
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This document was uploaded on 09/29/2013.

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