Product Planning & Development Quiz

What are goods?

• Physical items available for customers

• Services targeted to a specific group of people

• Products that cannot be touched or tasted

• Services that include a tangible product

What is a brand name?

• A name, term or symbol used to identify related products

• A specific image created for a product or company

• The process of maintaining product standards

• The decisions and processes used to create a product mix

What is the purpose of packaging?

• To be eye-catching and appealing

• To provide critical product information

• To create a specific image for a product or company

• To meet government regulations

What is the product life cycle?

• The process of creating new or improved products

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

• The decisions and processes used to create a product mix

• The process of maintaining product standards

What is the purpose of focus groups?

• To evaluate the effectiveness or likeability of a product

• To analyze and test the concept of a given product

• To determine potential demand for a product

• To gather, analyze and collect information about a target market

What is the purpose of commercialization?

• To introduce a product to the marketplace

• To create a specific image for a product or company

• To evaluate the success or failure of current products

• To eliminate weak products

What is the purpose of product variation?

• To make slight variations or changes to an original product

• To create a specific image for a product or company

• To evaluate the success or failure of current products

• To eliminate weak products

What is the purpose of eliminating weak products?

• To evaluate the success or failure of current products

• To make slight variations or changes to an original product

• To introduce a product to the marketplace

• To invest in more successful items

What is the purpose of product development?

• To evaluate the success or failure of current products

• To create new or improved products

• To introduce a product to the marketplace

• To make slight variations or changes to an original product

What is the purpose of product plans?

• To evaluate the success or failure of current products

• To create new marketing opportunities

• To introduce a product to the marketplace

• To make slight variations or changes to an original product