2.02 Pt.1 MM 51

Product/Service management is a marketing function that involves obtaining, developing,
maintaining, and improving a product or service mix in response to

• competitors only

• market opportunities

• government oversight

• CEO wishes

A new car that provides you the benefit of transporting you to work is an example of a

• service

• product mix

• good

• brand name

Massages, cooking lessons, and Internet connections are examples of

• services

• product lines

• brand-name products

• private labels

A service that is not attached to any tangible good is a __________ service.

• pure

• quality
  

• new-product

• product-related

Services that include delivery, instruction, or maintenance are __________ services.

• pure

• quality

• new-product

• product-related

Which of the following statements is true of product/service management:

• It is only useful for small businesses

• It involves discovering new-product opportunities

• It is only necessary for large businesses

• It involves continuing to sell unsuccessful products

Product/Service management should be approached from the angle of the

• product’s technological benefits

• product itself

• customer’s point of view

• competition’s point of view

What can help product/service managers predict whether a new product will be successful
before a business makes a major investment?

• Company goals

• Market research

• Product life cycles

• Product monitoring

Costs and available resources are especially important factors for product/service managers to
examine during which phase of product/service management?

• Elimination of weak products

• New-product development

• Idea generation

• Monitoring of existing product

When a competing product that offers additional benefits enters the market, a business’s
product may become

• more popular

• trendsetting
  

• obsolete

• technologically beneficial