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Exam 8: New Product Development

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Question 51

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Jinny & Jingle, a biscuits manufacturing company, is adding a new flavour to its line of products.Explain this strategy.

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Jinny & Jingle are using a lin...

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Question 52

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Focusing on current customers with promotional tactics is referred to as _____.

A) market development
B) market penetration
C) product penetration
D) diversification

E) None of the above
F) B) and D)

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Question 53

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What are the two approaches marketers adopt in the decline stage of a product life cycle?

Freshmornings is one of the breakfast cereals produced by Kenny's Ltd.Marketers at the company analyze that the product is experiencing a slowdown of growth in both sales and profits.Within a year, due to changes in consumer needs, the product sales have consistently decreased.They decide to keep the product but reduce the marketing support in an attempt to reap some minor profits at this stage in the life cycle. At which stage of the product life cycle was Freshmornings when marketers realized that there was a slowdown of growth in both sales and profits?

List the seven steps involved in the new product development process.

Explain in brief the introduction stage of a product life cycle.

The stage of the new product development process called _____ attempts to reduce the array of brainstorming ideas down to a manageable list of promising concepts.

Jive, a company manufacturing cosmetics with 100 percent natural ingredients, decides to launch a special range of products for the New Year.Marketers first conduct external evaluations of the new products, addressing issues such as customer perception, who would use them, and how they would be used.This range of products will be available only for a limited period in a defined geographic area.Marketers of the products aim to determine whether consumers will actually buy the products.Once the products are readily accepted in the market, Jive aims to bring the products to market with full-scale production, sales, and marketing support. Marketers of Jive will initially make the product range available only for a limited period in a defined geographical area.This approach is called _____.

A _____ product is one where there is an extended introductory period due to the significant efforts required to educate customers on the usage and benefits of the product.

In the growth stage, most marketers focus on product differentiation.

_____ is the term used when a new item is added to an already existing product line.

A Nokia cellphone is an example of a high-learning product because it requires educating consumers about its use and benefits.

A _____ product refers to a product with a very short product life cycle with no real maturity stage at all.

MobileEasy launched MobileEats, a new product, to its line of original MobileCookies.Which of the following approaches did the company adopt to extend the product life cycle of MobileEasy?

A product enters the decline stage when products become obsolete due to technological innovation or changes in consumer needs.

Cleanwash advertised its new product, Cleanwash Gentle, as a laundry detergent with more non-chlorine bleach and more whiteners than its regular brand, but did not specify if it was safe on hands and clothes.The entire proposition was a confusing one and the detergent missed its mark in the market.Which of the following would most likely be the reason for the product's failure?

Which of the following approaches do marketers adopt to ensure that products remain competitive and address new trends in the market?

Fragrances & Flowers, a perfume brand, introduces fruit-fragrance perfumes for a limited period of time in Ontario.This is known as test marketing.

Electric cars have been fairly slow to move along the adoption curve and gain significant sales.This suggest that they have yet to hit the ______ group.

What is business analysis?