Question

26. Which is an example of a product that is being sold in the business market?

- a mailbox to go in front of Pete’s new house.

- a thermometer to hang on the front porch of a school bus driver’s home.

- a truckload of sand to use on the beach being built for a lakefront resort.

- registration fee paid for a membership in a private health club.

27. Industrial products are:

-    usually purchased on the basis price and national brand name.

-    defined as any item which becomes part of the final product sold to consumers.

-    frequently purchased for their psychological benefits.

-    usually classified according to their nature or intended use.

30. Which of the products listed below would be the best candidate for full-scale market testing?

-    Mid-priced luxury sedan made in America by Mazda

-    New “iced coffee” beverage from Snapple

-    “Totally free” checking account from Bank One

-    “Household” (not individualized) frequent flyer program from Delta Airlines

31. According to the concept of the product life cycle,:

-    most products require the same level of marketing throughout their life cycle.

-    new products may pass through a life cycle stage quickly, virtually skipping it.

-    products begin at the introductory stage and move through the life cycles stages at a steady rate

-    products spend a predetermined amount of time in each stage of the life cycle; this time span is determined by the product category.

35. Regarding new product idea generation:

-    from a marketing perspective, scientists and researchers are the ideal sources of ideas.

-    most idea generation techniques are unstructured and supposedly free-flowing.

-    the brainstorming approach involves instant feedback and evaluation of ideas.

-    the number of new product ideas generated should be very small to maintain quality.

36. Meghan was disappointed to be assigned to work on a product in the mature phase of the product life cycle. Once she started working with the product team, she discovered all the following EXCEPT:

-    changes in consumers’ preferences were opening up new market segments.

-    end-of-cycle strategies were the most profitable for companies.

-    she could take the product into a new market segment to stimulate new growth.

-    some simple product redesign could completely reinvigorate the product.

37 Alex’s new product seemed like a perfect new addition to the product line, but some distributors who did not seem to want to take on the additional product. What options would make the most sense for Alex?

-    Offer to provide educational efforts if consumers didn’t understand the product

-    Withdraw the product until a new consensus can be reached with the distributors

-    Reduce demand with customers so retailers and distributors will not cause unwarranted burdens

-    Establish a new set of distribution channels

38. Regarding the consumer adoption process:

-    laggards are less price conscious than earlier adopters.

-    the mass market is composed of the early and late majorities.

-    innovators are the most important group from a marketing perspective.

-    most new products are adopted by consumers at about the same rate.

39. Which statement about product life cycle (PLC) concepts is wrong:

-    a firm with 10 products is more vulnerable to competition than a 1-product firm.

-    a product can go though the PLC quickly, perhaps even skipping some stages.

-    by finding new uses for a product, a company can extend the item’s maturity stage.

-    ideally a firm wants several products in each of the different PLC stages.

Can some please help me out and answer these questions? If possible can you bold the answer choice you select or highlight it.

Answer 1

26. The correct answer to this question is:

A truckload of sand to use on the beach being built for a lakefront resort.

This is an example of a product being sold in the business market. If you are a selling a product to a consumer for his use then it is called a consumer product. But when it is sold to a business or industry so that it can be used in the manufacturing of their product then it is termed as business product and it is said to be sold in the business market. Therefore the correct option is c.

27. Industrial products are :

usually classified according to their nature or intended use.

Industrial products are the products used by industries for their business purpose. They are brodly classified into supporting equipments and production tools such as plant and machinery and raw material.

Therefore the correct option is d.

30.  New “iced coffee” beverage from Snapple would be the best candidate for full scale market testing.

Option c and d are intangible services, so market testing for them is difficult. Option a is an expensive luxury product so market testing for this product is not practical. Therefore New “iced coffee” beverage from Snapple would be the best for full scale marke testing. Hence the correct option is b.

31. According to the concept of the product life cycle,:

new products may pass through a life cycle stage quickly, virtually skipping it. Some new products may die in a very short span of time after their introduction if they are not accepted in the market. They may pass through a life cycle stage quickly in this case and it might seem that the stage has been skipped.

Therefore the correct option is b.