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Chapter 8: - Quiz Flashcards | StudBud
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Chapter 8: - Quiz
Chapter 8: - Quiz
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StudBud Administration
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Flashcards
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Questions
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Answers
1
Which of the following is NOT a challenge presented to marketers by the product life-cycle?
Innovation is very expensive and risky.
It is difficult to plot the stages as a product goes through them.
A firm must be good at developing new products to replace ageing ones.
A firm must be good at adapting its marketing strategies.
2
New product development starts with _________
Idea generation
Concept development
Concept testing
idea screening
3
What are the two ways that a company can obtain new products?
Line extension and brand management
New-product development and acquisition
Service development and product extension
Internal development and merger
4
Product improvements, product modifications and original products can all be classified as __________
Pioneer products
New products
Product ideas
Product concepts
5
The new product depends on a company’s understanding of its _______ and its ability to deliver _________ to customers
Customers, brands and products; product images
Customers, competitors and markets; superior value
Competitors, distributors and employees; new styles
Product, marketing mix and marketing strategy; functional features
6
Which of the TWO following best describes the role of a product steward
to protect company from liability by identifying and solving product issues
to evaluate new-product ideas against a set of general criteria
to develop a product concept into a physical product
to protect consumers from harm
7
According to your text, which of the following is perhaps the most important external source of new-product ideas?
Distributors and suppliers
Competitors
Customers
Engineers
8
Names, labels and colours may not easily translate from one country to another, marketers must carefully assess ______
market rollout
product safety regulations
the product life-cycle
packaging issues
9
Fiat has recently purchased several automotive suppliers, including car company Chrysler. This is an example of ________
Organic growth
Acquisition
Divestment
Harvest
10
The advantages of standardising an international product include all of the following EXCEPT ________
the development of a consistent image
lower product design costs
the adaptation of products to different markets
lower marketing costs
