Marketing Product/service management test

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

c. market opportunities

A new car that provides you the benefit of transporting you to work is known as a(n)

b. good

Massages, cooking lessons, and Internet connections are known as

a. services

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

services.

d. product-related

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

a. pure

Which of the following statements is true of product/service management:

cts.

b.It involves discovering new-product opportunities.

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

b. customer´s point of view

What can help product/service managers predict whether a new product will be successful

before a business makes a major investment?

c. market research

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

c. New-product development

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

b. obsolete

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

a. Government regulation

Which of the following is a stage of a product's life cycle:

c. Maturity

Product/Service management can help to decrease

d. business risk

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

d. positioning

Which step in the new-product development process involves seeking feedback from

customers to know what response they would give to a proposed product?

d. Concept testing

Corinne, a product/service manager, is in charge of figuring out her product's cost of production, as well as making plans for packaging, labeling, brand name, promotion, and distribution. Which step of the new-product development process is Corinne working on?

a.Test marketing c.Product development

b.Commercialization d.Idea generation

c. Product development

Are all products test marketed?

a. No; it can delay entry into the full market.

b.Yes; it guarantees product success.

c.No; it is usually an unnecessary step in new-product development.

d.Yes; it gives an accurate picture of a product's performance.

a. No; it can delay entry into the full market.

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

a.Idea generation c.Product development

b.Test marketing d.Commercialization

d.Commercialization

Why should existing products be monitored?

a. to put a marketing plan in place

b. To make changes to extend a product's life cycle

c. To determine the acceptance of a product by a limited market

d. To evaluate how well a product might fit into a firm's product mix

b. To make changes to extend a product's life cycle

Why must care be taken in eliminating weak products?

a.To prevent damaging a company's image

b.To reduce a company's market share

c.To obtain higher product costs

d.To increase the number of product-related complaints

a.To prevent damaging a company's image

Kellogg's Froot Loops, General Mills' Chex, and Post Honey Bunches of Oats are all examples of

a.product brands .c.brand marks.

b.trade characters. d.generic items.

a. product brands

Which of the following is an example of a trade name:

a.Ford Mustang c. Ford

b.Diet Coke d.501 Jeans

c. Ford

The Keebler Elves, Ronald McDonald, and Mr. Peanut are examples of

a.product brands. c.trade characters.

b.trade names. d.private brands.

c. trade characters

Which of the following is an advantage of family branding:

a.New products are easier to introduce.

b.New products are not tied to company image.

c.Sellers need less shelf space.

d.Unrelated products are recognizable.

a.New products are easier to introduce.

A disadvantage of individual brands is that they may

a.contaminate each other.

b.be associated with one-of-a-kind benefits.

c.prevent companies from reaching different markets.

d.require more promotion.

d.require more promotion.

Whenever possible, an effective brand name should always be

a.short and memorable. c.related to other brands.

b.multiple syllables and flashy. d.unrelated to product features.

a.short and memorable.

Determine which of the following is a true statement:

a.The more common the brand name, the better it is.

b.A good brand name creates an appealing image.

c.Long brand names are more graphically pleasing.

d.Brand names belonging to other firms are available free.

b.A good brand name creates an appealing image.

Why should a brand name be distinctive?

a.So that it gives the product a generic image

b.So that it can be used in multinational marketing

c.So that it can easily be changed over time

d. So that it sets the product apart from other products

d. So that it sets the product apart from other products

Can any brand name be selected and used by a business?

a.Yes, a business can use any name it wants to use.

b.No, the name must be registered before it can be used.

c.No, the name must be legally available for use.

d.Yes, brand names cannot be owned by a business.

c.No, the name must be legally available for use.

Which of the following is a primary reason that businesses use brands:

a.To identify their products c.To increase materialism

b.To charge high prices d.To reduce expenses

a.To identify their products

Elyza usually buys the same brand of chocolate, but if her favorite brand isn't available, she'll try another brand. Elyza demonstrates brand

a. preference. c.mark.

b.recognition. d.insistence.

a. preference.

Why do businesses want customers to demonstrate brand insistence for them?

a.Their touch points pretty much take care of themselves.

b.Businesses will not have to market themselves.

c.Research shows that customers will pick their brand in a double-blind test 95% of the time.

d. Customers will bypass other brands because they are brand loyal and will buy only the desired brand.

d. Customers will bypass other brands because they are brand loyal and will buy only the desired brand.

Which of the following questions should be asked by a firm that is trying to decide whether to brand its products:

a.How much total sales revenue will the product earn?

b.Can the product be easily identified by a brand?

c.Will Company B find out we are using its brand?

d.Can we sell this product without a trademark?

b.Can the product be easily identified by a brand?

When buying things like towels or toilet paper, Mike prefers to save money by buying plainly packaged products that receive little or no promotion, also known as

a.undersold items. c.stealth brands.

b.generic items. d.private brands.

b.generic items.

Determine which of the following is a true statement:

a.The last step in the initial branding process is determining brand objectives.

b.Brand ideas may come from many sources, including company employees

and customers.

c.Determining what URLs are available is necessary only when a product will be sold online.

d.A trademark is a brand mark that has been made to seem lifelike.

b.Brand ideas may come from many sources, including company employees

and customers.

Before selecting a brand name for a new product, marketers should determine the acceptability of brand possibilities among different cultures. As part of this process, marketers should

a.create URLs for the product in each of the countries where the product will be marketed.

b.develop a different trade character for each of the countries where the product will be marketed.

c.determine if the brand name would be culturally taboo where the product will be

marketed.

d.choose a different brand name for each country where the product will be marketed.

c.determine if the brand name would be culturally taboo where the product will be

marketed.

A clothing store wants its customers to know how it differs from other retailers in the area, so

it highlights the benefits of shopping at its store to create its image. The store is engaging in

a.brand extension. c.brand licensing.

b.co-branding. d.brand positioning.

d.brand positioning.

Jeni's Ice Creams added ice cream sandwiches to its highly successful ice cream brand. Such an addition to an existing brand is an example of

a.brand positioning. c.brand licensing.

b.brand extension. d.co-branding.

b.brand extension.

The non-profit organization Sesame Workshop, which produces the Sesame Street television series, often gives permission to manufacturers such as Fisher Price and Build-a-Bear Workshop to use numerous Sesame Street characters on their products for a fee. This arrangement

between Sesame Workshop and these companies is known as

a.brand positioning. c.brand licensing.

b.brand extension. d.Co-branding.

c.brand licensing.

Several restaurant companies, including Long John Silver's and KFC, have successfully joined forces to increase recognition, customer loyalty, and sales for all companies involved. Such

arrangements between companies are examples of

a.brand positioning .c.brand licensing.

b.brand extension. d.co-branding.

d.co-branding.