MKT101

Which of the following is NOT a challenge presented by the product life cycle that a firm must face?

• A) All products eventually decline.

• B) Changing tastes, technologies, and competition affect the marketing of the product as it passes through life-cycle stages.

• C) A firm must be good at developing new products to replace aging ones.

• D) It is difficult to plot the stages as a product goes through them.

________ is the product life cycle period when sales fall off and profits drop.

• A) Introduction

• B) Growth

• C) Decline

• D)Development

Which stage of the typical consumer product life cycle is out of order below?

• A) product development

• B) introduction

• C) maturity

• D) growth

Most products in the marketplace are in the ________ stage of the product life cycle.

• A) maturity

• B) decline

• C) development

• D) introduction

Manufacturers must comply with specific laws regarding ________.

• A) profit margins

• B) product quality and safety

• C) product harvesting

• D) distribution channel length

Which of the following is the most likely reason that employees at your firm regularly attend trade shows and seminars?

• A) to analyze the product life cycle

• B) to test new-product concepts

• C) to get new-product ideas

• D) to test market new products

Apple's iPod has been called "one of the greatest consumer electronics hits of all time." More than 120 million iPods have been sold, and the iPod captures more than 70 percent of the music player market. This success has attracted many large, resourceful competitors. The iPod is in the ________ stage of the product life cycle.

• A) introduction

• B) maturity

• C) product development

• D) decline

In a(n) ________ channel, the same member both produces and distributes a product or service.

• A) tiered

• B) direct

• C) horizontal

• D) vertical

Which of the following is true of the growth stage of the product life cycle?

• a. Early adopters will stop buying.

• b. Strategies used include maintaining, harvesting, or dropping products.

• c. Firms face a trade-off between high market share and high current profit.

• d. Competitors move out of the market in the later-half of this stage.

During the _____ stage of the product life cycle, profits level off or decline because of increased marketing outlays to defend a product against competition.

• a. growth

• b. decline

• c. maturity

• d. introduction