Differentiating your product so that it will appeal to additional market segments occurs most often at which stage of the product life cycle?
a) Growth
b) Maturity
c) Decline
d) Introduction
Answer: B
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GEB Chapter 14
- A survey company used a dollar value to measure the ___________ of Ben and Jerry's Ice Cream, as compared to some of its worthy competitors. Essentially, the survey firm evaluated Ben and Jerry's by measuring net value of several components that would comprise the brand's perception and image to ice cream customers.
- Upscale retailers, such as Nordstrom, feature customer service as their significant point of difference and use that difference to compete with less expensive stores. This is known as ___________ competition.
- Fountain of Youth Tea Company changed their glass bottles to streamlined thermos-like, blue sports bottles that fit nicely on bicycles and in car holders. A packaging innovation such as this could actually be perceived by the buyer as a _____________.
- Soho Bottling was started in a kitchen in Brooklyn, New York, and makes soft drinks. After going through the various steps in the new-product development process, when the company finally entered the commercialization stage of the new product development process, they knew to succeed they would have to:
- If fixed costs are $100,000, variable cost per unit is $40, and the selling price is $60, how many units must be sold for the firm to break even?
- The importance of the product life cycle is that:
- The process of taking a product idea to consumers to test their reactions is known as:
- Rollerblade is working to make sure that when people refer to inline skating, they don't use the name Rollerblade to refer to the sport. Rollerblade is afraid that their brand name will become a:
- Which of the following would be considered a convenience good?
- The purpose of the product life cycle is it serves as a(n) __________.
- Old Navy jeans are sold exclusively at Old Navy stores. This is an example of a(n) _________ brand.
- When Nintendo reentered the video game market with the Wii, they priced the product lower than the newest Sony Playstation system in order to capture a large share of the market quickly. This strategy is called a:
- Sony and other makers of high-definition television sets have made the prices of these products more competitive, have increased the number and kinds of stores in which they are available, have offered a variety of choices, and are advertising extensively. These products appear to be in the ___________stage of the product life cycle.
- Idea generation represents the first stage of _______________.
- Products that the consumer buys only after comparing value, quality, price, and style from a variety of sellers are known as ____________ goods and services.
- Products that the consumer purchases like insurance, burial services, or emergency car-towing are known as ___________ goods and services because they are not products that consumers regularly evaluate and consider purchasing.
- Most new-product ideas come from:
- Priceline and Expedia are two online travel companies. Both are known to utilize ___________ of services such as airline flights and hotel stays to entice customers to purchase both at the same time, for a more reasonable price than what they would pay separately for each of these services.
- When Panasonic considers how to price a new product, they determine what price they think their customers will pay, and then identify what profit the company needs. From there they determine the features they can offer on this product. This method of determining price is known as:
- New packaging technology that allows companies to track products through radio frequency identification is referred to as ____________.
- A legally protected brand is a _______________.
- Volvo is a well-known quality manufacturer of cars, trucks, and SUVs. Volvo dealers also provide financing to their customers. These products and services are part of Volvo's product _____________.
- Schnucks Supermarket promotes products like milk, eggs and other daily essentials at very low prices in order to attract consumers into their stores. This type of pricing strategy would be an example of using pricing to:
- One of the ways that restaurants often adapt their product offerings to address changes in competition is to ____________.