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Exam 12: Developing and Managing Products

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Question 1

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A product that is in the mature stage of the product life cycle has reached a plateau in sales with many competitors existing in the marketplace. An example of this would be:

A) digital cameras.
B) VHS video players.
C) self-driving cars.
D) 3D printers.

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Question 2

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Coca Cola and Pepsi have been competitors in the soft drink business for over a century. While they have both introduced a wide variety of related items, the battle between their core products remains. These companies fight over shelf space in retail stores and access to fountain outlets in restaurants and convenience stores. While customers might have a preference, most are willing to drink either Coke or Pepsi depending on availability and price. Gaining shelf space or fountain outlets is an example of:

A) market penetration.
B) market development.
C) product diversification.
D) product development.

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Question 3

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Christopher recently took his family to lunch at One World Café when they visited him at college. The entire experience was positive - especially the service provided by their waitress Michelle. She was attentive, engaging, and efficient in serving Christopher and his family. From a marketing perspective, we would say Christopher and his family had a positive:

The _____ strategy seeks to increase sales of existing products in existing markets.

The right blend of product lines and individual products allows a firm to maximize sales opportunities within the limitations of its resources.

More than 90 percent of cereal is consumed at breakfast, but ads for Kellogg's Cracklin' Oat Bran say that it tastes like oatmeal cookies and makes "a great snack anytime." Kellogg's is implementing a strategy of _____ with this product.

Ramon is a sales representative for a medical device company and works with orthopedic surgeons. During his discussions with surgeons about their work and the type of tools or devices that would help them perform better, he began to receive several interesting suggestions that Ramon passed along to the new product-development team. What stage in the new-product development process does this represent?

As head of marketing for Clarity Eyewear, you are focused on developing a promotional campaign that provides information about the product's features. You are also working to induce channel members to stock it. Unfortunately, the company is experiencing some technical problems and financial losses related to the product. Clarity Eyewear is most likely in which stage of the product lifecycle?

A new-product innovation that is consistent with the values and experiences of potential adopters and attracts new buyers at a relatively rapid rate is said to have high _____.

The screening and business analysis stages of new-product development determine the product's financial and technical requirements.

In 2010, Kimberly-Clark introduced the Huggies Little Movers Jeans, a diaper with a denim-like style. Mothers and mommy bloggers loved them and sales took off. Over the years, however, sales have leveled off as competition has grown and the market becomes even more fragmented. Which of the following marketing activities would be appropriate now for the Huggies Little Movers Jeans?

During which of the following stages of a new-product development process, ideas with commercial potential are separated from those not meeting company objectives?

The Florida Orange Juice Growers and their ad agency utilized the slogan, "It's not just for breakfast anymore" to motivate consumers to drink more orange juice by having current orange juice drinkers enjoy the beverage throughout the day hoping this would increase demand and sales of orange juice. This strategy is called:

With reference to the five characteristics of a product innovation, a product innovation is said to have a greater _____, if it is superior to previous ideas reflected in terms of lower price, physical improvements, or ease of use.

Benchmarking is utilized to assess quality by comparing performance against industry leaders.

Your company recently released an ad campaign to promote its new tablet. Shortly thereafter, your company publishes a series of blogs and articles about the product and sets up hotlines so people can call in to find out more information about the product and its release date. At which stage of the adoption process are consumers operating?

Variations in each product a firm markets in its mix are referred to as the _____ of its product mix.

The original Hummer H1 was developed and manufactured by AM General solely for the military branches. However, after publicity from photographs of its use in Operation Desert Storm, the vehicle was introduced into the consumer market in 1992. The sight of one of these military vehicles being used to haul kids to soccer games was entertaining! Selling the Hummer to consumers is an example of:

The product life cycle is particularly useful for product managers since all the categories are equal length.

Consumer innovators are individuals who rely on the experiences of initial buyers before making trial purchases.