MRKT 341 CH 8 NEW EXAM WITH COMPLETE SOLUTIONS 100% VERIFIED
Which of the following is true of the product life cycle (PLC)?
A) All products generally go through all five stages of the PLC.
B) All products pass through the stages of PLC in the same order.
C) It is generally difficult to forecast the sales level at each PLC stage.
D) The PLC concept can be applied to styles but not to fashions and fads.
E) Product forms have longer life cycles than product classes. - ANSWER Answer: C
Appliances Galore is continually updating its line of refrigerators to reflect market
trends and customer needs. Although the product class is in the maturity stage of the
product life cycle, they maintain healthy sales of their line of refrigerators by continually
________.
A) concept testing
B) modifying the marketing mix
C) rebranding
D) modifying the product
E) changing the market - ANSWER Answer: D
Fads are marked by their ________.
A) enduring nature that spans several generations
B) low rates of adoption by consumers
C) unusually high sales and rapid decline
D) basic and distinctive modes of expression that seldom become unpopular
E) non-attainment of the last two stages of the product life cycle - ANSWER Answer: C
Colonial furniture has been in existence since the 1600s and still graces homes today.
Using the product life cycle concept it would be referred to as a ________.
,A) style
B) fashion
C) fad
D) trend
E) drift - ANSWER Answer: A
Flurrbies were a line of winter accessories introduced by a well recognized fashion
house that promptly took the consuming public by storm - only to fall equally out of
favor. Flurrbies would be classified as an example of a ________.
A) form
B) fashion
C) fad
D) style
E) drift - ANSWER Answer: C
When a product is in the ________ stage, profits level off or decline because of
increased marketing outlays to defend the product against competition.
A) production
B) decline
C) maturity
D) test marketing
E) conception - ANSWER Answer: C
In which stage of the product life cycle will promotional expenditures be considerably
high in an effort to make consumers aware of a product and its attributes?
A) product development
B) introduction
C) growth
D) maturity
, E) adoption - ANSWER Answer: B
Which of the following is true about the introductory stage of a new product?
A) Profits are typically high.
B) Promotion spending is relatively low.
C) Less money is needed to attract distributors.
D) Companies tend to avoid basic versions of the product.
E) Sales growth tends to be slow. - ANSWER Answer: E
A firm most likely faces a trade-off between high market share and high current profit in
the ________ stage.
A) growth
B) decline
C) maturity
D) introduction
E) commercialization - ANSWER Answer: A
Which of the following is true of the growth stage of the product life cycle?
A) New competitors avoid the market.
B) Prices tend to increase significantly.
C) Early adopters stop buying the product.
D) Profits are nonexistent at this stage.
E) Sales start to climb rapidly. - ANSWER Answer: E
Craft Inc.'s Krayons is a multi-color chalk material that was released in the market over
a century ago. Since the release, the company has had remarkable sales and Krayons
has remained unchanged. However, over the last few years, sales of Krayons have been
stagnant. Competitors have begun marking prices down, and increasing their
advertising and sales promotions. Craft's Krayons is most likely in the ________ stage of
Which of the following is true of the product life cycle (PLC)?
A) All products generally go through all five stages of the PLC.
B) All products pass through the stages of PLC in the same order.
C) It is generally difficult to forecast the sales level at each PLC stage.
D) The PLC concept can be applied to styles but not to fashions and fads.
E) Product forms have longer life cycles than product classes. - ANSWER Answer: C
Appliances Galore is continually updating its line of refrigerators to reflect market
trends and customer needs. Although the product class is in the maturity stage of the
product life cycle, they maintain healthy sales of their line of refrigerators by continually
________.
A) concept testing
B) modifying the marketing mix
C) rebranding
D) modifying the product
E) changing the market - ANSWER Answer: D
Fads are marked by their ________.
A) enduring nature that spans several generations
B) low rates of adoption by consumers
C) unusually high sales and rapid decline
D) basic and distinctive modes of expression that seldom become unpopular
E) non-attainment of the last two stages of the product life cycle - ANSWER Answer: C
Colonial furniture has been in existence since the 1600s and still graces homes today.
Using the product life cycle concept it would be referred to as a ________.
,A) style
B) fashion
C) fad
D) trend
E) drift - ANSWER Answer: A
Flurrbies were a line of winter accessories introduced by a well recognized fashion
house that promptly took the consuming public by storm - only to fall equally out of
favor. Flurrbies would be classified as an example of a ________.
A) form
B) fashion
C) fad
D) style
E) drift - ANSWER Answer: C
When a product is in the ________ stage, profits level off or decline because of
increased marketing outlays to defend the product against competition.
A) production
B) decline
C) maturity
D) test marketing
E) conception - ANSWER Answer: C
In which stage of the product life cycle will promotional expenditures be considerably
high in an effort to make consumers aware of a product and its attributes?
A) product development
B) introduction
C) growth
D) maturity
, E) adoption - ANSWER Answer: B
Which of the following is true about the introductory stage of a new product?
A) Profits are typically high.
B) Promotion spending is relatively low.
C) Less money is needed to attract distributors.
D) Companies tend to avoid basic versions of the product.
E) Sales growth tends to be slow. - ANSWER Answer: E
A firm most likely faces a trade-off between high market share and high current profit in
the ________ stage.
A) growth
B) decline
C) maturity
D) introduction
E) commercialization - ANSWER Answer: A
Which of the following is true of the growth stage of the product life cycle?
A) New competitors avoid the market.
B) Prices tend to increase significantly.
C) Early adopters stop buying the product.
D) Profits are nonexistent at this stage.
E) Sales start to climb rapidly. - ANSWER Answer: E
Craft Inc.'s Krayons is a multi-color chalk material that was released in the market over
a century ago. Since the release, the company has had remarkable sales and Krayons
has remained unchanged. However, over the last few years, sales of Krayons have been
stagnant. Competitors have begun marking prices down, and increasing their
advertising and sales promotions. Craft's Krayons is most likely in the ________ stage of
