DECA ENTRE

The team appointed to develop the heated hanger (a new product) is meeting to dissect potential sales, cost, profit potential, and the level of risk that would be associated with launching the product. What step in the product development process would this be included in?

Developing a business proposal

The Byrd Think Tank design company has a mission to only produce products that are innovative and technologically advanced. In what stage of the product development process would the mission/image of the company be considered?

screening product ideas

During this step of new product development technical evaluations are made to see whether the company can produce the new product and whether it is practical to do so.

develop the product

The step in which a company's product ideas are matched against the company's overall strategy, which defines customers, target market, competitors, and existing competitive strengths

screening ideas

The last attempt the company has decided to make with a product that is in decline is to remove the product from Hobby Lobby and Michaels. They will then lower the price and try to sell the product only in Walmart and Big Lots. What is this step in managing a product during the decline stage?

discount the product

Arm and Hammer Baking Soda saw a decline in sales in the late 70's into the early 80's. They tried to find new ways to use the product to save it. This is _ in managing a product in the decline stage?

Recommit to product line

 During which stage of the product life cycle are profits Typically highest?

Maturity

Listerine has introduced a new mouthwash flavor, cinnamon, to its products. This is an example of a _?

modification

The five items below are all reasons for

Adding new product lines
Seek new markets
Modifies its image
50% change because of company mergers and acquisitions
Result of lawsuits and court decisions

Brand element changes

Warranties do all of the following Except

decrease customer complaints

What is true about an extended warranty contract

Customers pay for the warranty

Which type of warranty advises the customer that the product is suitable for a particular use

fitness

Joe bought christmas lights for his home, he hung them and they worked for approximatly two days, he took them back to Lowes where he purchased them to return them for his money back. The warranty that he can return them under would be called

warranty of merchantability

If I have been denied for a car loan the dealer must disclose what credit bureaus denied me, this is because of what law pertaining to credit?

Fair credit reporting act

The type of trade promotion that is represented when Yeti gives Bass Pro a check at the end of the first quarter of business for stocking their products in a place that is highly visible and easy to locate is a _?

promotional allowance