A company’s product is taking market share

28 Jun A company’s product is taking market share

Question
1.A company’s product is taking market share from another product in the same company. This process is known as:
Select one:

a. cannibalization

b. a complementary product

c. strategy

2.A group of products in an organization that has some common elements and that is marketed to one general market is the definition of a:

Select one:

a. product

b. strategic business unit

c. product line

3.Emy is at dinner with her group of friends when one of them pulls out a new pen that not only writes but takes pictures. It also saves what it writes on a flash drive so the user can download the file later to her laptop through bluetooth. She rolls her eyes and makes a few skeptical comments about the fancy device. Emy’s attitude fits closest to which adopter category?

Select one:

a. Late majority

b. Early majority

c. Early adopters

4.If a product is intangible, has little standardization, has production and consumption happen simultaneously, and requires certain adjustments in a marketing strategy because of those differences, you are dealing with a:

Select one:

a. good

b. service

c. physical product

5.Quaker Oats has been around for over 100 years. The company’s marketers have continued to extend its market reach by adding new flavors and combining them with new products like Oatmeal Cookies, Oat Bars, and Quaker Oat & Yogurt Sandwich Biscuits. Quakers’ marketers have done a good job at:

Select one:

a. influencing the oat product life cycle

b. reacting to the oat product life cycle

c. controlling the oat product life cycle

6.The goal of a marketer’s interaction with the product life cycle is to:

Select one:

a. influence the life cycle

b. react to the life cycle

c. control the life cycle

7.What are the classification groups for consumer products?

Select one:

a. speciality, shopping, unsought, convenience

b. convenience, shopping, services, speciality

c. speciality, unsought, convenience, future

8.Which of the five customer adoption pattern groups is typically slow to act and embrace an innovation after the “average” participant has adopted it?

Select one:

a. Early majority

b. Late majority

c. Early adopters

9.Which phase of the product life cycle requires potentially the most significant amount of money for marketing campaigns?

Select one:

a. development stage

b. growth stage

c. introduction stage

10.If you as a marketer are collecting ideas from SWOT analysis, and customer focus groups and exploring product ideas, knowing that most of them will not end up reaching the market, you are in what stage of the new product development process?

Select one:

a. business case analysis stage

b. screen product ideas stage

c. generate and collect new product ideas stage