Why Are line Extensions more Common than New Products?14. Why are line extensions more common than new products? Show
a) They are higher risk and more expensive. b) They are guaranteed to succeed in the marketplace. c) They are less expensive and lower-risk. d) They require no market research. e) Modifications to existing products are very easy. 15. Coca-Cola has expanded to Diet Coke, Cherry Coke, and Caffeine-free Coke, to name a few. These are examples of a) product modifications. b) functional modifications. c) aesthetic modifications. d) line extensions. e) product lining. 16. A(n) ___________ is the development of a product that is closely related to one or more products in the existing product line but is designed specifically to meet somewhat different needs of customers. a) product modification b) line extension c) quality modification d) functional development e) aesthetic extension 17. If the manufacturer of Cool Whip were to introduce an orange-flavored Cool Whip and still continue to produce all of its other Cool Whip products, this would be an example of a) a brand extension. b) line extension. c) functional modification. d) quality modification. e) a new-to-the-world product. 18. __________ is the development of a product that is closely related to one or more products in a firm’s existing product line but is designed specifically to meet somewhat different customer needs. a) Quality modification b) Line extension c) Aesthetic modification d) Feature modification e) Product mix modification 19. What is the primary distinction between a line extension and a product modification? a) A product modification results in a completely new product while a line extension is simply changing an old product. b) In both cases an existing product is altered, but the alteration is more dramatic with a product modification than it is with a line extension. c) Line extensions are designed to better meet the needs of the existing market segment while product modifications target entirely new segments of the market. d) With product modifications, the original product is replaced in the product line while both the old and the new products remain in the case of line extension. e) Line extensions are strictly aesthetic changes to an existing product whereas product modifications consist of changes in quality and functionality. 20. In product modification, the first issue to consider is whether a) existing customers can perceive that a product modification has been made. b) the product is modifiable. c) quality is modified. d) modification will make the product more consistent with customers’ desires. e) modification will provide greater satisfaction to the consumer. 21. In product modification, three conditions must be met to improve a firm’s product mix: the product must be modifiable, customers must be able to perceive that a modification has been made, and a) modification should make the product more consistent with customers’ desires. b) competing companies should not be aware of planned product modifications. c) modification should change customers’ desires to provide greater satisfaction. d) management must perceive the modification as a reasonable and necessary action. e) production costs and materials needed should be limited. 22. Quality modifications are changes that relate to a product’s a) dependability and durability. b) effectiveness and versatility. c) price and availability. d) reliability and value. e) value and durability. 23. Bauman Flooring found a supplier of very inexpensive fibers that could be used to produce low-grade carpeting at a very low cost. Because Bauman had been facing stiff competition in the medium-grade carpet industry, it started using the new material in all of its carpeting and reducing its prices. This is an example of a(n) a) aesthetic modification. b) line extension. c) material adjustment. d) functional modification. e) quality modification. 24. Which of the following types of product modifications inevitably tend to cause firms to reduce costs in some of the organization? a) Aesthetic b) Operational c) Benefit d) Functional e) Quality PLACE THIS ORDER OR A SIMILAR ORDER WITH NURSING TERM PAPERS TODAY AND GET AN AMAZING DISCOUNT  What is the primary distinction between a line extension and a product modification? extension is simply changing an old product. with a product modification than it is with a line extension. … the product is modifiable. What are line extensions more common than new products?, Why are line extensions more common than new products? a) They are higher risk and more expensive. Furthermore, What is a line extension quizlet?, Line extensions. The development of a product closely related to one or more products in the existing product line but designed specifically to meet somewhat different customer needs. Finally, What are the three types of product modification?, There are three major ways of product modification, i.e. quality modifications, functional modifications, and style modifications. Frequently Asked Question:
What does product modification include?any substantial change made to the attributes (size, shape, colour, style, price, etc.) of a product; modification of a product is usually undertaken in an attempt to revitalise it in order to increase demand. What is product modification examples?Product Modification refers to the improvement of the existing products by making necessary changes in the characteristics, nature, size, packing and colour, etc., of the products so that the changes in demand of consumers may be dealt effectively. What are the 3 types of modifications that can be made to a product?There are three major ways of product modification, i.e. quality modifications, functional modifications, and style modifications. How do you modify a product?To modify a product, you must perform the following:
Why would a company make a product modification?The purpose of product modification is to reposition the product into a revitalized product life cycle. Rejuvenation strategies may be used to recover market share and profits by recapturing, redesigning, refocusing and recasting. … A new, improved product will not benefit the organization until it reaches the market. What are product modifications?any substantial change made to the attributes (size, shape, colour, style, price, etc.) of a product; modification of a product is usually undertaken in an attempt to revitalise it in order to increase demand. What is product modification strategy?Product modification is an important product strategy which refers to the value adding modifications to already existing products, mostly in mature markets. … The key marketing information to implement this strategy into an organisation are those about customers such as: preferences. buying habits. What is meant by product modification explain the various methods of product modification?Product Modification refers to the improvement of the existing products by making necessary changes in the characteristics, nature, size, packing and colour, etc., of the products so that the changes in demand of consumers may be dealt effectively. What is a functional modification?A change that affects a products versatility, effectiveness, convenience or safety usually requiring the redesigning of one or more parts of the product. What is the difference between brand extension and line extension quizlet?What is the difference between a line extension and a brand extension? A line extension uses a current brand name to enter a new market segment in its product class, whereas a brand extension uses a current brand name to enter a completely different product class. What is a line extension and how does it differ from a product modification?A line extension is the development of a product closely related to one or more products in the existing line but designed specifically to meet different customer needs. Product modification is the changing of one or more characteristics of a product. Why are line extensions more common than new products?Why are line extensions more common than new products? a. They are higher risk and more expensive. … Modifications to existing products are very easy. What is a line extension in pharma?A line extension is a marketing authorisation the same marketing authorisation holder, where for instance the pharmaceutical form and/or strength differs from one or more other pharmaceutical products for which the applicant already holds a marketing authorisation. What is the key difference between a product modification and a line extension?A line extension is the development of a product closely related to one or more products in the existing line but designed specifically to meet different customer needs. Product modification is the changing of one or more characteristics of a product. What is the primary distinction between a line extension?What is the primary distinction between a line extension and a product modification? a) A product modification results in a completely new product while a line extension is simply changing an old product. What is a line extension quizlet?Line extensions. The development of a product closely related to one or more products in the existing product line but designed specifically to meet somewhat different customer needs. Which of the following are advantages of a product line extension?Advantages of a product line extension
(Visited 5 times, 1 visits today) What is the difference between a line extension and a product modification?A line extension is the development of a product closely related to one or more products in the existing line but designed specifically to meet different customer needs. Product modification is the changing of one or more characteristics of a product.
What is the primary distinction between a line extension and a product modification quizlet?a) A product modification results in a completely new product while a line extension is simply changing an old product.
What is the primary distinction between a line extension?What is the primary distinction between a line extension and a product modification? a. A product modification results in a completely new product while a line. extension is simply changing an old product.
Why are line extensions more common than new products quizlet?The development of a product closely related to one or more products in the existing product line but designed specifically to meet somewhat different customer needs. Line extensions are more common than new products because they are a less expensive, lower-risk alternative for increasing sales.
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Which of the following is a primary distinction between a line extension and a product modification?
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