PowerPoint-ProductServiceManagementDownloadableVersion

Multiple Choice

Which of the following is a key factor marketers use to position products or businesses in the market?

• Cost analysis

• Product-liability risks

• Service mix planning

• All of the above

Multiple Choice

Which of the following best describes a product according to the lesson?

• Anything a person receives in an exchange process

• Only tangible items like computers

• Only services like haircuts

• Only items that are a mixture of goods and services

Multiple Choice

Which of the following decisions are part of product planning?

• Branding

• Labeling

• Packaging

• All of the above

Multiple Select

Select all the statements that are true about product mix:

• It is unique to each business.

• All stores in the same industry have the same product mix.

• A company can offer both products and services in its product mix.

• Product mix never changes over time.

Multiple Choice

Which of the following best describes a product line?

• A group of closely related products created or sold by a business

• A single product offered by a company

• A marketing strategy for a business

• A type of advertising campaign

Multiple Select

Which of the following are steps businesses take when creating product mix strategies?

• Taking an objective look at sales and current trends

• Being flexible

• Ignoring past product success

• Developing entirely new products or modifying existing ones

Multiple Choice

Which of the following is NOT a step in the new product development process?

• Idea generating

• Product elimination

• Product testing

• Business proposal development

Multiple Choice

Which of the following is a reason why product testing might not always be conducted?

• Low production costs

• Urgency to enter the market due to competition fears

• High consumer demand

• Availability of advanced technology

Multiple Choice

What are some of the high costs associated with introducing a product to the market?

• Advertising, new training for sales force, different distribution networks

• Product design, customer surveys, packaging

• Market research, product testing, focus groups

• Legal fees, patent applications, market analysis

Multiple Choice

What types of information should be tracked to evaluate customer approval of a new product?

• Sales performance, effectiveness of marketing strategies, customer buying patterns, timing of purchases

• Product design, packaging, distribution channels, supplier relationships

• Employee satisfaction, production costs, inventory levels, supplier reliability

• Competitor pricing, legal regulations, environmental impact, supplier contracts

Multiple Choice

Which of the following is an example of a line extension?

• Introducing a new flavor of an existing soft drink

• Launching a completely new brand

• Changing the company logo

• Reducing the price of an existing product

Open Ended

After learning about planning a product or service mix, what is one question you still have or something you would like to know more about?

Open Ended

Which objective from today's lesson do you find most relevant to your interests or future career goals, and why?