Lesson 6 Quiz

1. What are the four stages of the product life cycle?

a. Decline, Introduction, Growth and Maturity

b. Induction, Growth, Maturity and Decline

c. Maturity, Invigoration, Introduction and Growth

d. Growth, Saturation, Maturity and Decline

2. Nintendo Wii is currently experiencing rising profits in the gaming industry. At what stage of the PLC would you consider it to be?

a. Growth

b. Decline

c. Introduction

d. Maturity

Suggested Solution:

Answer to the above question is option a. Rising profits are associated with products in the growth stage of the PLC. Introduction stage is associated with negative profits. Maturity stage is associated with profits at a decreasing rate while decline stage would be declining profits.

3. Which is a limitation of PLC?

a. Simplistic model used as an approximation for consumers’ changing tastes

b. Provide valuable lead time for product strategies

c. Systematic approach to product planning

d. Identify opportunities and threats to similar product lines

Suggested Solution:

Answer to the above question is option a. The PLC is just a generic model that is used as a basic tool for comparing products and their development over time. PLC curve differ from product to product. It is difficult to project what a product life cycle will be.

4. Yakult is a healthy drink that has been promoted extensively to the young. How would you extend the PLC of Yakult to adults?

1. Tap adult customers with a Yakult-Lite (Fat-free) product
2. Increase health talks at primary schools
3. Advertise in the Young Scientist magazine
4. Sponsor TV programs on Kids Central channel

Suggested Solution:

Answer to the above question is option a. An extension of Yakult that is appealing to adults will help extend the Yakult PLC. Options a, b and c do not appeal to the correct target audience.

5. Which of the following is NOT a benefit gained from patenting?

1. Critical factor to ensure market leadership
2. Sale of patents for business funds
3. Prevention of unauthorized exploitation
4. Licence of patents for commercial purposes

Suggested Solution:

Answer to the above question is option a. Patents, although advantageous, do not guarantee market leadership position as other factors like marketing and quality are equally important.

6. Patent applications in Singapore must satisfy the three conditions EXCEPT ______.

a. Invention originating from Singapore

b. New product

c. Industrial application

d. Inventive step

Suggested Solution:

Answer for the above question is option a. Inventions need not be originating from Singapore to apply to be patented here.

7. Which of the following subject matter is not protected by copyright?

1. Game Ideas
2. Song lyrics
3. Paintings
4. Journals

Suggested Solution:

Answer for the above question is option a. It is an only IDEA. IPOS has stated subject matter that has not been documented is not protected by copyright. Option b, c and d are expressed in a tangible form such as recording or writing.