Store Lesson 10: Product/Service Management

_____ refers to all decisions made by a business about what to sell and how to position those products/services in the marketplace.

• Creative Marketing

• Product/Service Management

• Promotional Mix

• 4 P's of Marketing

Your business needs to

choose the right products

to carry, otherwise the

products won't sell and

generate revenue for your

business.

• True

• False

_______ refers to identifying product features and methods that will contribute to product sales.

• Product Placement

• Product Mix

• Product Identifying

• Product Planning

Product mix refers to the same products.

• True

• False

The PRODUCT LIFE CYCLE includes four stages­:

• introduction, middle, maturity, and decline.

• beginning, growth, maturity, and decline.

• introduction, growth, maturity, and decline.

• introduction, growth, maturity, and the end.

What is the most expensive stage of the product cycle?

• decline

• introduction

• growth

• maturity

Which of the following is not a Brand components:

• Trade Name

• Brand Mark

• Trademark

• Brand Character

The packaging appearance is important because it conveys several things to a customer.

• True

• False

What information does a label provide to the customer?

• trade name

• features

• nutritional facts

• all of the above

A BRAND is simply an identifier of an entity such as a business or product.

• True

• False