Marketing Unit 2 Test

Front

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

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market opportunities.

Front

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

Back

good.

Front

Products that are performed rather than produced are known as

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services.

Front

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

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product-related

Front

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

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pure

Front

Product/service management should be approached from the angle of the
customer’s point of view.

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customer’s point of view.

Front

What can help product/service managers predict whether a new product will be successful before a business makes a major investment? Options: Company goals, Product life cycles, Market research, Product monitoring

Back

Market research

Front

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

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New-product development

Front

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

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obsolete.

Front

Which of the following controls such new-product considerations as warranties and safety standards: Government regulations, Product characteristics, Stages in product life cycles, Market research studies

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Government regulations