Marketing Chapter 9 Test

Which of the following is true regarding the states of the product life cycle?
Most companies experience losses during the market introduction stage.
When a marketing manager anticipates that the early stages of the product life cycle will move quickly, a ______ is a good strategy choice.
low initial price
Marketing managers should recognize that:
firms that enter mature markets have to compete with established firms for declining industry profits.
In the United States, which stage of the product life cycle is toothpaste?
Market maturity
Regarding product life cycles, good marketing managers know that:
a firm’s product can be withdrawn before its related product life cycle is over.
According to the FTC, for a producer to call a product “new,” the product:
must be entirely new or changed in a functionally significant or substantial respect.
The product life cycle does not directly apply to:
Jif brand peanut butter.
The distinction between continuous innovations, dynamically continuous innovations, and discontinuous innovations is based on:
the extent to which consumers must learn new behaviors when using a new product.
Dr. Pepper is evaluating an idea for a new “low calorie/high caffeine soft drink” by using focus groups made up of young adults who are reacting to the new-product idea. This is an example of:
concept testing.
Waitresses at Smith’s Pancake House have the authority to give any customer a free meal – without asking permission from a manager – if the customer appears to be dissatisfied for any reason. Smith’s Pancake House managers believe in ________.
empowerment