MM6-PRELIMINARY EXAM

Which of the following is the best definition of an "augmented" product?

• The main benefit that a product offers the customer

• The range of gods offered by the producer

• The product itself and the range of additional services offered to the consumer

• The range of functions that the product performs

When a business adds "depth" to its product mix it:

• Adds more additional services offered to the consumer, such as long guarantee

• Adds to the range of products included in each product line

• Increases the number of different product lines offered to consumers

• Creates completely new products by means of "new product development"

When completing a new product development, the stages of the process should be completed in which order?

• Generate new ideas, screen ideas, product testing, marketing testing, screen ideas

• Concept testing, generate new ideas, product testing, market testing, screen ideas

• Generate new ideas, market testing, screen ideas, product testing, concept testing

• Generate new ideas, screen ideas, concept testing, product testing, marketing testing

The product life cycle shows that:

• The sales of a product can grow and decline depending on the amount of advertising

• The sales of a product vary between its market launch and its decline and withdrawal

• The sales of a product vary depending on the seasons of the year

• The sales of a product grow and then will decline before reaching maturity or saturation

At this stage of the product life cycle the product's growth begins slowing down and competition becomes fierce.

• Decline

• Growth

• Maturity

• Saturation

Which this alternative life cycle products are regularly revitalized with new advertising campaigns and promotional initiatives.

• Straw on fire

• Long cycle

• Fashion

• Staircase

Which of the following BEST describe the order of the stages in the life cycle of a product?

• Introduction, growth, saturation, maturity, decline

• Introduction, maturity, growth, saturation, decline

• Introduction, growth, maturity, saturation, decline

• Introduction, saturation, growth, maturity, decline

Branding is....

• The use of a name, design ,symbol, or a combination of those elements that an organization uses to help differentiate its products from the competition

• Is a device that legally identifies ownership of a registered brand or trade name

• The process of working toward maximizing recognition of a particular brand

• Consumer preferences for a particular brand as compared to competitor products or services

Branding Mechanisms include all of the following except:

• Brand Mark

• The Fair Trade Act

• Trademark

• Logo

Shelly will only buy Starbicks coffee is an example of....

• Brand position

• Brand identity

• Brand loyalty

• Visual symbol