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Exam 13: Conceiving, Developing, and Managing Products

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Question 21

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Which stage of the product life cycle is characterized by the greatest number of outlets and use of the mass market as a target market?

A) Introduction
B) Growth
C) Decline
D) Maturity

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Question 22

Multiple Choice

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Total revenues on a new product were less than the firm's production and marketing costs. The new product should be classified as a(n)

A) short-term product failure.
B) long-term product failure.
C) relative product failure.
D) absolute product failure.

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Question 23

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A product idea is converted into a physical form in the commercialization stage of new-product planning.

A minor innovation to one firm can be considered as a major innovation to another.

The decline stage of the product life cycle is characterized by the

A company uses weights of 5 for general characteristics, 4 for marketing characteristics, and 3 for production characteristics. Within these categories, each product idea can be scored on the basis of 1 (outstanding) to 10 (very poor) . If a potential new product scores 3.0, 2.0, and 2.5 on the three characteristics, respectively, its overall rating is

In which stage of the new-product planning process is a consumer asked "Is the idea easy to understand?" and "Would you buy the product?"

The criterion for a new product in a new-product screening checklist is whether the product's score exceeds a minimum cutoff point.

Planned style obsolescence is an example of a(n)

Which of these statements is NOT a valid criticism of the use of market-oriented sources of information in the idea generation stage of the new-product planning process?

In the confirmation stage of the adoption process, a consumer

Increasing market segmentation, developing new product uses, adding features, and increasing usage among current consumers are strategies aimed at

In which new-product planning stage does a firm seek to determine the rate of return on the total investment for a new product on the basis of projections of demand, costs, and investment?

Although the adoption process describes the behavior of individual consumers, the diffusion process explains the buying behavior of

Product construction, packaging, branding, and product positioning decisions are first needed during which stage of the new-product planning process?

The product life-cycle concept suggests that decline is inevitable, and that a firm cannot manage the product life cycle to prolong the maturity stage and forestall decline.

Product development costs are generally higher for minor innovations than for major innovations.

"Would you replace your current brand with this new product?" is a question typically asked for the first time during the test marketing phase of new-product planning.

The mental and behavioral procedure an individual goes through when learning about and purchasing a new product is examined in the

The diffusion process describes market segments on the basis of the market penetration rate for a new product.