G11BM_4Ps_Product

Convenience products that are sold in retail outlets on a daily basis are known as

• Perishable goods

• Fast moving consumer goods

• Capital goods

• Consumer goods

Speciality goods include all the following, except

• Exclusive sports cars

• Gourmet food

• IB Science textbooks

• Designer jewellery

Which of the following is a perishable consumer product?

• Motor vehicle

• B. Fridge freezer

• Fresh food

• Legotoys

The marketing strategy used to give a product a unique or distinctive aspect so that customers can distinguish it from those offered by competitors is known as

• Product orientation

• Product differentiation

• Brand awareness

• Unique selling point

Pre-launch activities in the product life cycle do not include

• Generating new ideas

• Market research

• Perception mapping

• Test marketing

Which of the following activities does not take place during the research and development stage of the product life cycle?

• Marketresearch

• Test marketing

• Monitoring of competitors

• Publicity

The stage in a product's life cycle that requires significant investment yet often incurs losses is known as

• Launch

• Growth

• Maturity

• Decline

Features of the launch stage for most products do not include

• Low sales volume

• Extensive promotion and advertising

• Market research

• Negative cash flow

Which of the following is a possible reason for an increase in the sales revenue of a product?

• Newer and better alternatives become available on the market

• A smaller channel of distribution

• Lower prices for products with few substitutes

• Redesigned packaging to increase the emotional value of the product

Possible strategies to reverse a decline in the sales of a product do not include

• Expanding into new markets overseas

• Increasing prices to improve the image (perception) of the product

• Increased use of promotional strategies

• Additional features added to the product, such as special or limited editions