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Product Development pretest

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9th - 12th Grade

Used 16+ times

Product Development pretest
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34 questions

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1.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In the maturity stage, rivals starting to aggressively enter the market with viable products. If you can fill the demand, they will-- and you may never get those customers back.

True

False

2.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

The Product Life Cycle is...

Identifying (I), Predicting (P) and satisfying (S) customer needs and wants profitably

The collection of information on the habits of customers and teh market

Shows the life of a product; split into categories based on sales / time

Anything which satisfies customers’ needs and wants, and could be either a good or a service

3.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Why does a company need to know the life-cycle stages of its products?

To prevent imitators from entering the market
To find new uses for the product
To predict the length of the life cycle
To adapt its marketing strategies

4.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Why might profits sometimes decline for the company that first introduced the product during the growth stage of a product’s life cycle?

Because sales decline in the growth stage
Because marketing strategies are adjusted
Because competitors have entered the market
Because production is more efficient

5.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

Why should a business continue to monitor an established product?

To determine the acceptance of a product by a limited market
To make sure that a marketing plan is firmly in place
To make changes in order to extend a product's life cycle
To evaluate how a product might fit the firm's product mix

6.

MULTIPLE CHOICE QUESTION

3 mins • 1 pt

In a Product Life Cycle, the stage where there are steady sales and it becomes harder for marketers:

Introduction

Growth

Maturity

Decline

7.

MULTIPLE CHOICE QUESTION

2 mins • 1 pt

What is one of the main reasons a companies' profits can start to decrease during the growth stage?

Because sales decline in the growth stage
Because marketing strategies are adjusted 
Because competitors have entered the market
Because production is more efficient 

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