Which one of the following is a benefit of new product development?

• It is cheaper to develop a new products
• The latest technology can be a feature of the new product
• Customers will always prefer newly developed products

Which of these products is an example of a consumer good?

• A bottle soap powder
• A washing machine repair service
• A drink can filling machine
• The design of an advertisement for computers

Which of these products is an example of a producer good?

• A bottle of washing up liquid
• A washing machine repair service
• A drink can filling machine
• The design of an advertisement for computers

Which of these products is an example of a consumer service?

• A bottle of washing up liquid
• A washing machine repair service
• A drink can filling machine
• The design of an advertisement for computers

Which of the following is an advantage of a business having a well-known brand name?

• It will not have to do any advertising.
• It can charge lower prices as a result of brand recognition
• It can produce low quality products and sell them
• It will have good consumer recognition of its products

The best example of brand loyalty is

• when a consumer uses the same washing machine for many years
• when a consumer keeps buying products from the same producer
• is when a manufacturer uses the same name for its products

All are important features of packaging for a breakfast cereal except that it must

• contain important health and contents information
• protect the cereal from being crushed whilst transported
• be eye-catching and attract the consumers to the product
•  be able to be re-used by the manufacturer

Which of the options places the stages of a typical product life cycle in the correct order?

• Growth, maturity, decline, introduction
• Introduction,maturity, growth, decline
• Introduction,decline, growth, maturity
• Introduction,growth, maturity, decline

Which of the following definitions best explains the product life cycle?

• The length of time for consumers to use up all of a product
• The length of time a product stays on a market
• Stages of sales that a product passes through
• Length of time taken to make a new product

Which choices is not an extension strategy that could be used to lengthen a product life cycle?

• The launch of a new product to replace the declining one
• A new design of an existing product
• The sale of the product in new markets e.g. other countries
• The re-launch of the product with a new advertising campaign