Lecture 7: New Products & Service Decisions - Developing & Managing Innovation

Napoleon Perdis cosmetics is evaluating its product mix. It wishes to decrease some of its marketing expenditures and streamline its product offerings. Accordingly, identification of products in the ________ stage of the product life cycle are possibilities for repositioning.

• not yet developed

• growth

• introduction

• maturity

• decline

A jam jar could be considered a secondary-use package because:

• its shape is ideal for multiple-unit packaging.

• glass cleaner works on chrome as well as glass.

• the spray nozzle has an adjustable valve.

• customers can reuse it for other purposes.

• it has a shape similar to other glass cleaner bottles.

Food products must be labelled with ingredients and:

• country of origin.

• size.

• Heart Foundation tick.

• nutritional content.

• universal product code.

An example of a convenience product is:

• stereo equipment.

• unleaded fuel.

• a motorcycle.

• a bicycle.

• athletic shoes.

Price strategies become more mixed during the ________ stage of the product life cycle.

• growth

• maturity

• decline

• introduction

• late introduction

People who enjoy trying new products and are often the first to do so are known as:

• early adopters.

• the early majority.

• market mavericks.

• innovators.

• laggards.

A group of closely related product items that are related because of marketing, technical or end-use considerations is a product:

• category.

• dimension.

• extension.

• line.

• mix.