Unit 3a: Product & Service Management Quiz

What is product planning?

• The process of managing sales of existing products

• The process of analyzing customer feedback

• The process of advertising new products

• The process of developing successful products to offer customers

What is a product mix?

• The number of different product lines a business manufactures or sells

• The specific model, brand, or size of a product within a product line

• The group of closely related products manufactured or sold by a business

• The alteration in a company’s existing product

What is a product line?

• A specific model, brand, or size of a product within a product line

• A group of closely related products manufactured or sold by a business

• The alteration in a company’s existing product

• The number of different product lines a business manufactures or sells

What is a product item?

• The alteration in a company’s existing product

• The number of different product lines a business manufactures or sells

• A group of closely related products manufactured or sold by a business

• The specific model, brand, or size of a product within a product line

What is the difference between product width & product depth?

• Product width refers to the number of items offered within each product line, while product depth refers to the number of different product lines a business manufactures or sells

• Product width refers to the number of different product lines a business manufactures or sells, while product depth refers to the number of items offered within each product line

• Product width refers to the number of product items, while product depth refers to the number of product lines

• Product width and product depth are the same thing

What are the two ways of developing existing products?

• Line extensions and product modifications

• Product extension and product modification

• Product enhancement and product revision

• Product expansion and product alteration

What is the major goal during the introduction stage of the product life cycle?

• To draw the customer’s attention to the new product by increasing product awareness and promotions

• To establish the product as the market leader

• To minimize costs during the launch of the new product

• To maximize profits from the new product

What is product positioning?

• The way the product is defined by competitors on important attributes

• The way the product is defined by consumers on important attributes

• The way the product is defined by retailers on important attributes

• The way the product is defined by manufacturers on important attributes

What is a planogram?

• A customer feedback report

• A computer-developed diagram that shows retailers how and where products within a category should be displayed on a shelf at individual stores

• A financial analysis of a product line

• A marketing plan for a specific product

What is category management?

• The process of putting manufacturers and retailers in closer touch with customer needs

• The process of managing sales of existing products

• The process of developing new products

• The process of analyzing market trends