marketing test 8

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Product/service management plays an important role in marketing because it affects a business's strategy to create a certain impression of a product in the minds of customers. This strategy is known as

positioning

Services that include delivery, instruction, or maintenance are referred to as __________ services

product-related

A service that is not attached to any tangible good is known as a __________ service

pure

Marketers may attempt to increase the number of a product's users by:

selling the product in a foreign country

Products that are performed rather than produced are known as

services

Kevin is standing in line to purchase the latest version of his favorite smartphone. He loves getting the newest technology as soon as it's available. Kevin is known as a(n)

early adopter

During the growth stage, costs are affected by

economies of scale

A price-skimming strategy works well when introducing

electronic products

A tangible, or physical, item and the customer benefits that it offers is known as a(n)

good

During the decline stage, a company may choose to continue offering the product but cut out all promotional expenditures. This is a strategy known as:

harvesting.

Product/service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to

market opportunities

When a competing product that offers additional benefits enters the market, a business's product may become

obsolete

Which of the following is a type of "product" that the product life cycle can apply to

A brand

Which of the following is one of the main goals of promotion during the introduction stage

Building awareness of the product

At what point in the new-product development process does a product's life cycle begin?

Commercialization

Most of the products we use are in which stage of the product life cycle?

Maturity

Costs and available resources are especially important factors for product/service managers to examine during which phase of product/service management?

New-product development

Are all products test marketed?

No; it can delay entry into the full market.

Which of the following marketing strategies is appropriate for the maturity stage of the product life cycle

Offering incentives to distributors

Which of the following is a true statement about the decline stage of the product life cycle

The stage can be fast or slow

Which of the following is a true statement regarding promotion expenditures during the growth stage of the product life cycle:

They decrease as a percentage of sales revenue

Why should existing products be monitored?

To make changes in product or packaging to extend a product's life cycle

Why must care be taken in eliminating weak products?

To prevent damaging a company's image

A software manufacturer may sell an entire "suite" of software programs for one price during the maturity stage. This is a marketing strategy known as:

bundling

Marketers may extend a product's life cycle by

finding new uses for it

Which of the following is a true statement about the growth stage of the product life cycle

Competitors arrive on the scene

Which step in the new-product development process involves seeking feedback from customers to know what response they would give to a proposed product?

Concept testing

Which of the following is not a product/service-management activity

Conducting interviews with potential employees

Which of the following marketing strategies is appropriate for the growth stage of the product life cycle

Expanding the product line

Which of the following controls such new-product considerations as warranties and safety standards

Government regulations

What can help product/service managers predict whether a new product will be successful before a business makes a major investment?

Market research

Which of the following stages of the product life cycle is the most difficult one for marketers:

Maturity

In which step of the new-product development process do product/service managers estimate the cost of production and make plans for packaging, labeling, brand name, promotion, and distribution?

Product development

Which of the following is a true statement about the introduction stage of the product life cycle

Profits are usually nonexistent

Which of the following is a true statement about the maturity stage of the product life cycle

Sales growth slows down

Which of the following marketing strategies is appropriate for the decline stage of the product life cycle:

Selling the product online

Product/service management should be approached from the angle of the

customer's point of view

Product/service management can help to decrease

business risk


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