Product Planning & Development Vocabulary uiz

What is the primary difference between goods and services?

• Goods are physical items, while services are actions

• Goods are actions, while services are physical items

• Goods and services are the same thing

• Goods and services cannot be distinguished

Which of the following is an example of a pure service?

• Buying a car

• Getting a haircut

• Purchasing a book

• Eating at a restaurant

What is the purpose of branding?

• To create a specific image for a product or company

• To provide critical product information

• To evaluate the success or failure of current products

• To identify related products

What does product design refer to?

• The way a product works or looks

• The parts, materials, or construction elements of a product

• The decisions and processes used to create a product mix

• The specific features of a product

What is quality control?

• The process of maintaining product standards

• A small group of employees who identify methods for product improvement

• Formal inspections conducted at each stage of the production process

• The group of related items or brands sold by the same company

What is a product line?

• A specific brand or individual product within a line

• All the products a company makes or sells

• The number of available items offered in each product line

• The number of different product lines a business produces

What is the product life cycle?

• The cycle through which every product goes from launch to expiration

• The process of creating new or improved products

• The number of different product lines a business produces

• The decisions and processes used to create a product mix

What is idea generation in product development?

• The process of brainstorming new product ideas

• The evaluation of product ideas and feasibility

• The introduction of a product to the marketplace

• The creation of a physical model or sample of the product

What is a prototype?

• A working model or sample of a product

• A small group of employees who identify methods for product improvement

• Formal inspections conducted at each stage of the production process

• The group of related items or brands sold by the same company

What is outsourcing in product development?

• Input, decisions, and work from businesses and individuals outside of the actual company

• The process of maintaining product standards

• The evaluation of design factors and influences

• The process of gathering, analyzing, and collecting information about a particular target market, competitor, or product