Which of the following allows customers to check the price without the help of a salesperson?

• Exchange system

• Matrix

• Universal product code

• Kiosk

A business might be involved in the illegal activity of deceptive pricing if it does what

• Changes prices according to current demand

• Sales products at a limited number of predetermined price points

• Misleads customers about the true value of a product

• Offers special prices on a discontinued item

Which of the following is a characteristic of pure services

• Does not include a tangible product

• Uses plain, inexpensive packaging

• Most often uses product bundling strategies

• Does not include product guarantees

Why do businesses often try to develop new uses for established products that are beginning to lose market share

• To extend their lifecycle

• To monitor public awareness

• To reduce the selling price

• To reinforce their features

Why do businesses usually spend more money on advertising during the maturity stage of the product lifecycle

• Competition is intense

• Profits are decreasing

• Sales are rising

• Distribution is slow

What type of planned obsolescence is generally considered socially and economically desirable because the replacement product offers more benefits or a lower cost?

• Technological

• Fashion

• Psychological

• Style

What stage in the product lifecycle includes planning ways to promote and distribute the product to the customer?

• Introduction

• Growth

• Decline

• Maturity

Which of the following situations is an example of unethical business practice in relation to product management

• Implementing ongoing obsolescence strategies

• Using environmentally friendly materials

• Issuing a recall for defective products

• Taking precautions to protect packaging

Which of is an advantage to businesses that use computer databases to manage their inventory

• Increases efficiency

• Increases demand

• Decreases product usage

• Decreases order accuracy

The following is the reason that a very large company might spend billions of dollars on promotion to create a specific company image?

• To develop customer loyalty

• To explain issues To customers

• To limit customer awareness

• To provide customers with information