Marketing Unit 2 Practice

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

• competitors only.

• government oversight.

• market opportunities.

• CEO wishes.

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

• service.

• good.

• product mix.

• brand name.

Massages, cooking lessons, and Internet connections are known as

• services.

• brand-name products.

• product lines.

• private labels.

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

• pure

• new-product

• quality

• product-related

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

• pure

• new-product

• quality

• product-related

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

• product's technological benefits.

• customer's point of view.

• product itself.

• competition'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?

• Company goals

• Product life cycles

• Market research

• Product monitoring

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

• Elimination of weak products

• Idea generation

• New-product development

• Monitoring of existing products

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

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

• project management.

• licensing.

• idea screening.

• positioning.