2.02 Marketing Quiz

Which of the following is a disadvantage associated with the addition of a lower priced product or line to a company's product mix:

The company's reputation may be damaged

A product-mix strategy in which a business makes changes to its products or product lines.

Alteration

A shampoo company decides to update its packaging to appeal to new customer attitudes and give its products fresh appeal. Which product mix strategy is this company using?

Alteration

A technology company that offers its products in many different colors and at several different price points likely has what type of product mix.

Broad

A fast-food company offers burgers, chicken nuggets, pizza, and French fries. Eventually, the company realizes that the pizzas are not profitable and decides to stop selling them. Which product-mix strategy is the company using?

Contraction

Why would a business use a shallow product mix?

Control Costs

The number of product items offered within each product line

Depth

A salon recently added nail services to its product mix. This strategy is called

Expansion

At a grocery store, you might decide to buy a bottle of Coca-Cola, a DiGiorno frozen pizza, and a can of Dole pineapple chunks. Each of these purchases is a product...

Item

which of the following is one of the elements included in judging the consistency of a company's product lines:

Life cycle

To meet the needs of its customers and help it achieve its company goals, a drugstore offers a large assortment of products, known as its product...

Mix

Developing strategies for the product mix.

Product Management

The process of making decisions related to the features, packaging and branding of a product.

Product Planning

The number of different product lines a business makes or sells.

Product Width

Which of the following is a disadvantage associated with the addition of a higher priced product or line to a company's product mix:

Sales of established products may decline

A product-mix strategy in which a business adds a higher priced product or product line to its product mix.

Trading Up

Which of the following is a reason for a business to have a narrow product mix:

To allow the company to specialize

Why would a business remove or delete product items or lines from its product mix?

To appeal to a new market

Why would a business add higher priced products to its product mix?

To enhance the image of the company

Which of the following is a reason that a business would make changes to its products:

To keep up with changing consumer preferences

A high end department store decides to start selling a lower priced line of clothing to appeal to a different market. Which product mix strategy is the department store using?

Trading Down