113) A company launching a new product into the market must first decide on when to launch the…

113)
A company launching a new product into the market must first decide on when to
launch the product.

114)
JumBo Games is launching a new set of game toys in the commercialization stage.
The first decision to make is introduction timing and the second is where to
launch the new product.

115)
Sequential product development has the advantage of not only being a
team-oriented approach, but it is also faster in bringing products to market.

116)
To avoid too few new product ideas and the failure of many good ideas,
management should install an innovation management system that collects,
reviews, evaluates, and manages new-product ideas.

117)
Using the PLC concept to develop marketing strategy can be problematic because
strategy is both a cause and a result of the product’s life cycle.

118)
Profits rise during the growth stage of the PLC because promotion costs are
spread over a large volume and unit manufacturing costs fall.

119)
Although products that remain in the maturity stage of the PLC seem unchanged,
the most successful ones actually evolve to meet changing consumer needs.

120)
When sales of a product falter during the PLC, a company can take several
approaches. The more common ones are to modify the marketing mix, modify the
product, or modify the market.

121)
Sales for the time-tried household cleansers made by Brite and New, Inc., have
been declining for some time. If these products are typical, sales are
declining because of technological advances, shifts in consumer tastes, and
lack of raw materials from foreign suppliers.

122)
Companies need to pay attention to their aging products. Management should
regularly review sales, market shares, costs, and profit trends, and then
decide whether to maintain, harvest, or drop these declining products.

123)
When a company decides to maintain a product in the decline stage, it will
reduce costs and hope that sales hold up to increase the profits in the short
run.

124)
The federal government may prevent a company from adding products through
acquisitions if acquisition threatens to lessen competition.

125) The international growth of many
professional and business services such as accounting, consulting, and
advertising led to the globalization of the client companies they serve