Full Test Bank Chapter 12 Launching a New Product Hemann

Chapter 12: Launching a New Product

1. There are five phases to a product lifecycle; development, introduction, growth, maturity and decline. Digital analytics is only used during the development phase to research the market. Is this statement true or false?
   1. True
   2. False
2. While several digital data sources and analytics tools can support a product launch, two are most commonly used throughout each phase of the product lifecycle. Name the two from the list below.
   1. Search analytics
   2. Web analytics
   3. Social analytics
   4. Social listening
   5. Mobile analytics
   6. Engagement analytics
   7. Email analytics
3. During the product introduction phase, select the most relevant questions from the list below that you would use to understand how to best position a new product launch into the market.
   1. What are the emerging trends in the category regarding product usage?
   2. What are consumers saying about current promotions, likes/dislikes?
   3. Is the product positioning and attributes resonating with consumers?
   4. What is the sentiment of conversations about the new product?
4. Collecting all relevant conversations mentioning a new product during launch will identify all consumer needs, wants and expectations about the new product. Is this statement true or false?
   1. True
   2. False
5. During the product growth phase, what are the three main focuses of your digital analytics efforts?
   1. To identify the triggers responsible for advocacy, brand favorability and adoption
   2. To monitor volume, location and sentiment of conversations about product
   3. To identify the competition
   4. To understand the media response to product launch
   5. To identify influencers for outreach campaigns
6. What one single digital analytics tool can be the most helpful during the growth phase in identifying triggers, advocacy and adoption insights?
   1. Web analytics
   2. Search analytics
   3. VOC surveys
   4. Social listening
   5. Engagement analytics
   6. Mobile analytics
7. What are the potential sources of advocacy that can be identified using digital analytics data and tools?
   1. Ratings and reviews (ex. Yelp, Google)
   2. Endorsements
   3. Re-shares of positive sentiment posts about product
   4. Shared promotions or coupons for product
   5. Positive reactions to influencer posts about product
8. Influencer marketing does not play a significant role during the growth phase of the product lifecycle, only during the introduction phase. Is this statement true or false?
   1. True
   2. False
9. What is one of the most important focus areas to monitor during the growth phase of the product lifecycle using digital analytics tools?
   1. Sentiment about product
   2. Total reach and impressions with audience
   3. Purchases/Sales
   4. Competitors reactions
   5. Consumer reactions to promotions and discounts
   6. Product improvement recommendations
10. During the maturity phase of the product lifecycle, what can companies use digital analytics to look at to extend the length of the maturity phase and maximize revenue and product longevity?
    1. Consumer sentiment about product purchase and use
    2. Competitive claims against product
    3. Consumer conversations about price points/opinions
    4. Related products that consumers show interest in