Question 1

With virtually no marketing support,Sanford continues to sell its Liquid Paper correction fluid for use in typewriters,even in the era of word-processing equipment.This is an example of _______ during the decline stage of the product life cycle.

Accepted Answer

Harvesting is the strategy of maintaining low marketing and advertising expenditures and slowly reducing other costs to maximize profits during the decline stage of the product life cycle. Sanford's decision to continue selling Liquid Paper with virtually no marketing support signifies that the company is likely following the harvesting strategy.

Question 2

Coca-Cola has realized that the market for their first diet cola,Tab,has been significantly diminished,yet Coca-Cola still sells the product,without any major advertising to its niche market.Coca-Cola is engaging in product:

Accepted Answer

Coca-Cola is engaging in product harvesting, which involves continuing to sell a product with reduced marketing or advertising efforts to extract any remaining profits from its remaining customer base. This strategy is often used for products that are past their prime or have been replaced by newer offerings.

Question 3

Figure: 11-2 
-The product life cycle (PLC)shown in "D" in Figure 11-2 is an example of a __________ life cycle.

Accepted Answer

The product life cycle (PLC) shown in "D" in Figure 11-2 is an example of a fad product. Fad products have a short life cycle and experience a sudden increase in popularity followed by a rapid decline. This is different from high-learning and low-learning products, which have a longer growth period and more gradual decline. Fashion products have a longer life cycle than fad products, but they still have a relatively short lifespan compared to other products.

Question 4

An alternative product life cycle that results from products that are easily imitated by competitors,consumers who readily understand their benefits,and for which the appropriate marketing strategy is to gain strong distributor outlets is characteristic of _____ products.

Accepted Answer

Low-learning products are easily imitated by competitors and have consumers who readily understand their benefits, making them ideal for a strong distributor outlet strategy. High-learning products require more education for consumers to understand their benefits. Fashion products have a predictable cycle of popularity and decline, while fad products experience a quick spike in popularity followed by a rapid decline.

Question 5

An extended introduction stage of the product life cycle occurs for which type of product?

Accepted Answer

A high-learning product is one that requires significant customer education and experience before it can be fully appreciated and used effectively. As a result, the introduction stage of the product life cycle for high-learning products is typically longer than for other types of products. Examples of high-learning products include complex software applications, medical devices, and many types of industrial equipment.

Question 6

Interactive television with video on-demand capabilities will change how people watch television and how consumers access the Internet.What type of a product life cycle would be associated with this product?

Accepted Answer

High-learning product life cycle is associated with new and innovative products that require a significant amount of marketing and education to increase consumer awareness and adoption. Interactive television with video on-demand capabilities is a new and innovative product that requires consumers to learn how to use it, which makes it a high-learning product.

Question 7

Bow ties,hemmed skirts,and tie-clips are most likely what type of products?

Accepted Answer

Bow ties, hemmed skirts, and tie-clips are fashion products, which are items that are popular for a certain period of time and are often associated with trends and style.

Question 8

A strategy of harvesting may be employed in the decline stage of a product life to:

Accepted Answer

Harvesting is a strategy used to maximize profits from a product in the decline stage of its life cycle. By maintaining the ability to meet customers' requests, companies can continue to generate revenue from the product even as demand declines.

Question 9

Generally,the average length of time it takes for a product category to move from the introduction stage of its product life cycle to the decline stage is:

Accepted Answer

The duration for a product category to move through the stages of its product life cycle is highly variable and depends on numerous factors such as market conditions, technological advancements, and consumer preferences, making it unpredictable.

Question 10

Imagine Eveready has developed solar rechargeable batteries that cost only slightly more to produce than regular batteries (less than the rechargeable batteries currently available)and can be recharged by sunlight up to 5 times,after which they are meant to be discarded.Unfortunately,the production process cannot be patented,and competitors could arrive within a few months.Which of the following is the best description of the product life cycle of this product?

Accepted Answer

The product is likely to have a moderately slow introduction as it is a new and innovative product. After the initial introduction, it could experience modest growth. However, the product may gradually level off as competitors enter the market and offer similar products. The five-time recharge limit may also deter repeat purchases, leading to a gradual decline in sales over time. Therefore, option C, "moderately slow introduction, followed by modest growth, gradually leveling off," is the most appropriate description of the product life cycle.

Question 11

Gillette's Fusion razor has achieved $1 billion in worldwide sales in less than 3 years despite the fact that it is a product that can be easily imitated by competitors.Consumers readily understand its benefits,and Gillette has used an appropriate marketing strategy to gain strong distributor outlets.These are characteristics of _____ products.

Accepted Answer

Low-learning products are those that consumers can easily understand and quickly adopt, often due to effective marketing strategies and distribution channels.

Question 12

Figure: 11-2 
-The product life cycle (PLC)shown in "B" in Figure 11-2 is an example of a __________ life cycle.

Accepted Answer

The PLC shown in "B" depicts a low-learning product life cycle, which is characterized by a longer introductory phase and a shorter growth phase, as compared to high-learning product life cycles. The low-learning product life cycle is typical of products that do not require significant consumer education, are often upgrades or improvements of existing products, and have relatively shorter life cycles. Fashion products are characterized by a short life cycle and high volatility in consumer preferences, while fad products have a rapid rise and fall in popularity, resulting in a short but intense life cycle.

Question 13

There is no exact time that a product takes to move through its life cycle.As a rule:

Accepted Answer

Consumer products generally have shorter life cycles than business products due to the higher level of competition and the constantly changing consumer demands. Fad products may have a quick rise to popularity but tend to have a short life cycle. Packaged goods may have a shorter life cycle than some products, but it is not a universal rule. Installations typically have longer life cycles than consumer products as they are more costly and time-consuming to replace.

Question 14

A new social media product comes onto the market.Which person's description below is most likely to adopt the product first?

Accepted Answer

Jo, who spends her time as a blogger for a local technology site, is likely to be more aware and interested in trying out new social media products. Her job involves keeping up with the latest technology trends and innovations, so she is more likely to adopt a new product like this quickly.

Question 15

Which of the following products is the best example of a product that might experience an introduction,a decline,and a reintroduction as part of its normal product life cycle?

Accepted Answer

Fishnet hose is a fashion item that has experienced several cycles of popularity and decline throughout its history. It was first introduced as a fashion trend in the 1920s and experienced a decline in the 1960s. However, it was reintroduced in the 1980s as part of the punk fashion trend and has had several other moments of popularity since then.

Question 16

When a product reaches the decline stage of the product life cycle,a firm has two choices.One choice involves product deletion,where a product is dropped from a firm's product line.Another less drastic choice is to retain the product in the product line,but to reduce marketing costs.When this option called _____ is selected,advertising expenditures for the product are reduced and salespeople do not devote their efforts to selling the product.

Accepted Answer

Harvesting is the best choice in the decline stage of the product life cycle as it allows the firm to continue generating revenue from the product without investing heavily in marketing. This option also provides time to explore new product opportunities while still maintaining a presence in the market. Product deletion should only be considered if the product is losing money or if it is no longer a strategic fit for the company.

Question 17

The Campbell Soup company advertises more heavily in warm months to encourage consumers to think of soup as more than a cold-weather food.As Campbell Soup is trying to increase use they are using a ___________________ strategy in managing the product life cycle.

Accepted Answer

The strategy of advertising more heavily in warm months to change consumer perception of soup being only a cold-weather food is an example of market modification, which involves trying to increase the usage of a product by finding new uses or new markets. Campbell Soup is not altering the soup itself (product modification) or repositioning the soup in terms of its image or purpose (product repositioning); rather, they are attempting to expand the market for the product through increased advertising.

Question 18

Implementing a harvesting strategy would mean that:

Accepted Answer

Implementing a harvesting strategy typically involves decreasing advertising dollars and reducing costs in order to maximize profits from a product that is no longer experiencing significant growth. Expanding the product line or increasing advertising spending would be opposite strategies, aimed at spurring growth rather than harvesting profits.

Question 19

Figure: 11-2 
-The product life cycle (PLC)shown in "A" in Figure 11-2 is an example of a __________ life cycle.

Accepted Answer

The shape of the curve shows a gradual increase in sales over time as consumers learn about the product and its benefits, which indicates a high-learning product life cycle. Fashion products, on the other hand, have a shorter life cycle with rapid growth and decline, and fad products experience a sudden spike in popularity followed by a rapid decline. Therefore, A is the best choice.

Question 20

Figure: 11-2 
-The product life cycle (PLC)shown in "C" in Figure 11-2 is an example of a __________ life cycle.

Accepted Answer

The curve in "C" shows a quick rise in sales followed by a peak and then a rapid decline, which is typical for a fashion product where consumer demand is driven by trends and style rather than functionality or innovation.

Quiz 11: Managing Products and Brands