Which of the following is NOT a challenge presented to marketers by the product life-cycle?

It is difficult to plot the stages as a product goes through them

What are the two main ways a company can obtain new products?

new-product development and acquisition

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MKTG101 - Week 5

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Week 5 - Chapter 8

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Questions 10

Answers

1
Which of the following is NOT a challenge presented to marketers by the product life-cycle?
A firm must be good at developing new products to replace ageing ones
It is difficult to plot the stages as a product goes through them
A firm must be good at adapting its marketing strategies
Innovation is very expensive and risky
2
What is an example of a company acquiring another company?
Organic growth
Harvest
Divestment
Acquisition
3
How can product improvements, product modifications, and original products be classified?
pioneer products
product ideas
new products
product concepts
4
How can product improvements, product modifications, and original products be classified?
Product ideas
Pioneer products
Product concepts
New products
5
What is the first step in new product development?
Concept testing
Idea generation
Idea screening
Concept development
6
What are the two main ways a company can obtain new products?
service development and product extension
line extension and brand management
new-product development and acquisition
internal development and merger
7
Which of the following is NOT a potential reason for a new product to fail?
An incorrectly positioned product
Higher than anticipated costs of product development
An underestimated market size
A poorly designed product
8
Why do employees regularly attend trade shows and seminars?
To obtain new-product ideas
To test new-product concepts
To test market new products
To analyse the product life-cycle
9
What is the way consumers perceive a new product?
Image
Concept
Idea
Proposal
10
What can product improvements, product modifications, and original products all be classified as?
Product ideas
New products
Product concepts
Pioneer products

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