Which of the following is NOT one of the stages of the product life cycle?
In the market maturity stage, industry profits and industry sales both continue to increase.
Towards the end of the _____________ stage, industry profits begin to decline.
The ____________ stage occurs when industry sales level off and competition gets tougher.
The sales and profits of an individual product or brand follow the same life-cycle pattern as a product idea within a particular product market.
A new product idea will move through the early stages of the life cycle more quickly when it has all of the following characteristics, EXCEPT:
|A)||A greater comparative advantage of the new product over those already on the market.|
|B)||It is difficult to use.|
|C)||It is easy to communicate.|
|D)||It can be tried on a limited basis.|
The lives of different products vary, but in general, product life cycles are ___________.
Fashion related products tend to have __________ life cycles.
When the early stages of the product life cycle will be fast, a ___________ initial price may make sense to help develop loyal customers early and keep competitors out.
It is always in the best interest of the market pioneer for competitors to stay out of the market.
During the sales decline stage of the life cycle it is best to get out of the market as quickly as possible, without considering other market-oriented strategies.
In terms of product life cycles, to be considered a "new product" that will go through the introductory stage, a product must be completely different and come from a fresh idea.
According to the Federal Trade Commission, a product can be considered "new" for ___________.
Which one of the following is NOT a step of the new-product development process?
|D)||Removal from the market|
The general new-product development process only applies to goods, and not to services.
The legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products is called ________________.
|C)||Breach of warranty|
Concept testing, getting reactions from customers about how well a new product idea fits their needs, is used at the ______________ step of the new-product development process.
Companies that are particularly successful at developing new goods and services seem to have which of the following trait(s) in common.
|A)||Enthusiastic top-management support|
|B)||Experienced R&D departments|
|C)||Sales department dedicated only to new products|
|D)||All of the above|
________________ seek to satisfy customer needs at a profit with an integrated company effort.
|A)||Product oriented firms|
|B)||Marketing oriented firms|
|D)||None of the above|