Unit 1 Product Planning Quiz

What is a product?

• Anything offered to a market that might satisfy a want or need

• Something for sale that you can touch

• Something for sale that cannot be touched

• The container or wrapping for an item

What is the difference between a customer and a consumer?

• Customer buys specialty products, while a consumer buys convenience products

• Customer must be a business, while a consumer may be a private individual

• Consumer buys a product either to resell it or make it into another product

• Customer buys products, while a consumer uses products

Which of these terms refer to the visual part of a product's identity?

• Goods

• Generic name

• Brand mark

• Brand name

What is the term for unprocessed natural resources that are refined into end products?

• Component parts

• Supplies

• Raw materials

• Process materials

Which of these statements about generic products are TRUE?

• Generic products are more recognizable than brand name products.

• Companies usually spend little money on the promotion of generic products

• Generic products are always lower in quality than brand name products

• All of the above

Maria has started a lawn care service about a year ago. She did work and her customers spread the word. Sales are increasing quickly! What stage of the product life cycle is described in this example?

• Introduction

• Growth

• Maturity

• Decline

What is a product line?

• All products offered for sale by a company

• A name, term, symbol, design, or any such combination that is used to distinguish a company and its products

• A group of products closely related to each other

• Items that are sold to businesses in order to make other products or resell

Which of these types of products usually involves the customer doing comparison shopping?

• Specialty products

• Convenience products

• Shopping products

• All of the above

Which of the following may be purposes of packaging?

• Help the product stand out from the competition

• Make the product easier to use

• Protect the product and the people who buy it

• All of the above

A company creates an identity for a product through its logo, packaging and promotions. Customers like the product and remember their good feelings every time they see something about the product. They continue to buy the product and also tell their friends about it, which increases sales. What is this an example of?

• Product Mix

• Branding

• Product Life Cycle

• Product Classification