Question 1 (1 point) The ______________ is one of the most powerful tools available to marketing managers.

The ______________ is one of the most powerful tools available to marketing managers. Every product category goes through five stages—development, introduction, growth, maturity, and decline—and the product strategy changes with each stage.

Question 1 options:

Marketing Mix

AIDA

Product Life Cycle

Product Development Cycle

The new product development process has ________ steps.

Question 2 options:

6

7

5

10

In this step, the organization introduces the product in a wide market, often by scheduling the arrival of the product in waves, which means that the entire market is not targeted at once. 

Question 3 options:

Screening Ideas

Concept Testing

Business Analysis

Market Testing

Commercialization

A product strategy is a response to the marketing objective formulated after performing a strengths, weaknesses, opportunities, threats, and trends (SWOTT) analysis and a market growth strategy analysis.

Question 4 options:

True

False

Every product category goes through five stages—development, introduction, growth, maturity, and decline—and the product strategy changes with each stage.

Question 5 options:

True

False