chapter 8 Question Bank

Topics: Product life cycle management, Marketing, New product development Pages: 4 (725 words) Published: July 22, 2015
Principles of Marketing – MKG 201
Chapter 8 – Product Decisions - Question Bank

Multiple choice questions & answers: [For Quiz] [Answers are marked in green and underlined] 1. New product development essential due to –
a. Changing customer needs and wants
b. Evolving of new technologies
c. Both a and b
d. None of the above

2. New product can be -
a. New product lines
b. New to the world products
c. Both a and b
d. None of the above

3. Hurdles in new product development are –
a. Shortage of ideas
b. High cost of development
c. Both a and b
d. None of the above

4. Business Analysis involves –
a. Estimating total sales
b. Estimating costs and profits
c. Conducting break even analysis
d. All the above

5. Appropriate country to test market a new product –
a. India
b. Saudi Arabia
c. Indonesia
d. None of the above

6. Essential for the success of new product concept –
a. Product superiority
b. Overall company fit
c. Offer economic advantage to user
d. All the above

7. Stages in a Product life cycle [PLC] –
a. Introduction stage
b. Growth stage
c. Maturity and decline stage
d. All the above

8. Rapid skimming strategy means –
a. Charging high price and spending high on promotion
b. Charging low price
c. Charging high price and low promotion
d. All the above

9. Rapid penetration strategy means -
a. Charging high price and spending high on promotion
b. Charging low price and spending high on promotion
c. Charging high price and low promotion
d. Low promotion

10. Slow skimming strategy means –
a. Charging high price and spending high on promotion
b. Charging low price and spending high on promotion
c. Charging high price and spending low on promotion
d. Low promotion

Tick true or false: [answers marked in green, bold and underlined]

11. New products are a key to growth. True / False
12. Companies that excel in developing and managing new products do not reap big...
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