marketing test 8
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
