MGT0006 Innovation, Operation, Marketing

In relation to product life-cycle, in the ___________ phase sales and profits are still high but there tends to be considerable investment in maintaining sales, such as in product changes, increased promotional activity and price-cutting.

• mature

• growth

• introduction

• decline

Cost-plus pricing involves establishing prices in accordance with projected demand using some form of break-even analysis.

• True

• False

Which one of these statements is correct?

• The four phases of the product life cycle, introduction, growth, maturity and decline, apply in roughly the same way to all products.

• During the growth phase of the product life cycle high profits can be made by pioneering firms.

• The product life cycle model offers a rigorous analysis of product market behaviour and is an essential tool in product planning.

• The product life cycle model is a useful tool to indicate where promotion and price strategies can be used to halt declining sales. However, the model has little use in product design.

Which one of these statements is correct?

• Marketing is essentially about selling goods and services

• Relationship marketing focuses on selling products and services to known customers and clients.

• Business to business marketing has grown with the development of the global factory and global supply chain

• Globalization has meant that global products can be marketed in much the same way around the world.

Which one of these statements is correct?

• Societal marketing focuses on producing goods and services only at the request of consumers.

• Societal marketing involves the marketing of ethical goods and environmentally friendly packaging.

• Societal marketing focuses on promoting products that improve the health and well-being of society.

• Societal marketing is based around government initiatives to improve education, health and social welfare

The three extra P’s in the modern marketing mix are ___________, ____________ and ___________?

• Processes, digital and people

• Processes, physical evidence and people

• Procedures, digital websites and people

• Managers, physical evidence and people

What does SEO stand for?

• Computers, internet and transportation

• Search Engine Optimisation

• Search Engine Organisation

• Search Ending Optimisation

Positioning consists of arranging for a market offering to occupy a clear, distinctive, and desirable place relative to competing products in __________________?

• the minds of target consumers 

• the minds of the business managers

• the marketing department

• the marketing managers.

Which one of these statements is correct?

• Targeting is about developing niche products for niche markets.

• Positioning involves getting the maximum exposure for your product in a particular segment.

• Targeting involves identifying which consumer segments are most attractive to a business.

• Positioning is a particular technique developed in retail management to ensure maximum exposure of products.

Which one of these statements is correct?

• The product offering focuses upon availability, design and appearance of the product or service.

• The product offering focuses upon the functionality and price of the product or service.

• The product offering focuses upon a number of different factors including function, packaging and after-sales service.

• The product offering focuses upon how customers see the physical product.