Question 1 1 pts The sales and profits of an individual product may not follow the life cycle pattern. True False Question 2 1 pts During the sales decline stage of the product life cycle, no firm can earn a profit. True False Question 3 1 pts During the introduction stage of the product life cycle: none of the above. "me too" products quickly take market share away from the innovator. most products achieve intensive distribution. industry profits are at their highest promotion is likely to be needed to increase primary demand. Question 4 1 pts During the introduction stage, what would hinder acceptance of a new product? problems communicating or demonstrating the new product's benefits. the new product may not be compatible with the buyer's values. all of the above. consumers may not see the new product as offering a superior alternative to whatever they are currently using risk in buying something for the first time. Question 5 1 pts During the market growth stage of the product life cycle: industry sales grow slowly. all of the above. the market begins to fragment into sub-markets or segments. the industry experiences the smallest profits. industry profits fall, then rise. Question 6 1 pts What is the most important reason why industry sales level off in the market maturity stage of the product life cycle? aggressive competitors entering the markets. less efficient firms leaving the market. persuasive promotion price cutting. pool of potential users is exhausted. Question 7 1 pts Gerhard Company has seen most of its competitors drop out of its product market due to declining sales and profits. However Gerhard still has much demand for its products from a small group of loyal customers. In which stage of the product life cycle is this product market? sales decline. market growth. market introduction market maturity. market development. Question 10 1 pts Generating "socially responsible" new product ideas: is unprofitable and should not be done. reduces the long-term welfare of consumers. is easy for new product planners. is done by all companies. is promoted by consumer groups. Question 8 1 pts The length of a product's life cycle: depends on the ease of entry to the market for competitors. varies widely across products. all of the above. may be as long as 100 years. may be as short as 90 days. Question 9 1 pts Regarding product life cycles, a good marketing manager knows that: entirely different target markets may be involved at different stages of the product life cycle. once a market goes into sales decline, oligopoly conditions set in. industry profits are increasing well after sales start to decline. a company's marketing mix usually should be kept constant over the product life cycle. all of the above