| A | B |
|---|
| During the growth stage, what best shows the success of a product? | sales and profits rise |
| At which part of a product’s life cycle is promotion the most important? | introduction |
| Why might a business delete a product from its line? | because the profits from the product are smaller than its costs |
| What is the term that means all the different items that a company makes or sells? | product mix |
| Which statement is generally not true about a product at the introduction stage? | Companies spend more advertising dollars fighting off the competition at this stage. |
| Which is an example of product modification? | the introduction of a better cell phone/MP3 player combination |
| ___________ ___________ refers to the number of different product lines a business manufactures or sells. | Product Width |
| A _____ ________ strategy is a plan for determining which products a business will make or stock. | Product Mix |
| A(n) _____________________ _____________________ is an alteration in a company’s existing product. | Product Modification |
| _____________________ _____________________ involves making decisions about what features should be used in selling a business’s products, services or ideas. | Product Planning |
| _____________________ _____________________ refers to the number of items offered within each product line. | Product Depth |
| A(n) _____________________ _____________________ is a group of closely related products manufactures or sold by a business. | Product line |
| When a company discounts a product and uses advertising phrases such as “compare and save,” the product is in its _________________________________ stage in the product life cycle. | Decline |
| MEOW cat food company began its business with one flavor of cat food. Now MEOW offers shrimp, chicken, and liver flavors. Each of the different flavors is called a line __________________________________ of the original cat food. | Extension |
| Businesses make decisions about product packaging, labeling, and distribution during the “ ____________________________________ the product” step of new product development. | Developing |
| to restrict sales of a declining product to certain local areas. | regionalize |
| a reason to drop a product when it is out of date | obsolete |
| a time when companies match their objectives against the idea for a new product. | screening ideas |
| includes decisions about all features and services needed to sell a product | product planning |
| a specific model, brand or size | product item |
| to change slightly or partially | modify |
| studying sales information is one way to evaluate this | customer acceptance |
| the number of different product lines a business sells | product width |
| a manufacturer’s technique for helping retailers maximize shelf space use | planogram |
| a business’s group of closely related products | product line |
| A product life cycle represents the four stages that a product goes through during its life. | True |
| During the introduction stage, the product is enjoying success, as shown by increasing sales and profits. | False |
| A product reaches its growth stage when sales level off or slow down. | False |
| Product positioning focuses on the image that a product projects. | True |
| A planogram is a process that involves managing product categories as individual business units. | False |
| A manicure, a karate lesson, and a pencil are all products | True |
| Test marketing in specific geographic areas is an indispensable (indispensable = absolutely necessary) part of the product development process. | False |
| Inventors at Ready Writers have designed a ballpoint pen that is very similar to an older pen, but its barrel comes in a variety of fashion colors. It has made it through the screening process. The next step is developing a business proposal. | True |
| A product that is brought to market quickly will be more likely to lose out to competitive product that are developed more thoroughly and introduced more slowly. | False |
| ’l Stampers is a store that features 527 varieties of signature, business, and novelty stamps. The store also sells inked stamp pads in 64 different colors. Thus, the store offers its customers great product depth. | True |
