Product Management Quiz

This could be either a good or a service with monetary value that satisfies customer’s needs and wants.

• slogan

• product

• headline

• intangible

This is an intangible activity that is exchanged directly from the producer to the consumer and consumed at the time of production:

• product

• slogan

• service

• heterogeneous

This is a tangible object that consumers can purchase to satisfy needs and wants. It can be stored after purchase and potentially resold.

• good

• service

• slogan

• heterogeneous

Virtually all products can be marketed to both industrial buyers and to final ________.

This is the service characteristic that means that the service cannot be touched, seen, tasted, heard, or felt.

• Inseparable

• Tangible

• Heterogeneous

• Intangible

The service sector is the largest and fastest-growing employment area in our economy.

• True

• False

The fastest growing service sector is teaching and will have almost 2 out of every 5 new jobs by 2015.

• True

• False

Virtually all products can be marketed to both industrial buyers and to final consumers.

• True

• False

This will ultimately determine if a good or service is an industrial good or a consumer good:

• The time of day and day of the month that the good is purchased.

• Who purchased the product and how it is used.

• How much the buyer is charged for the product.

• Was the good purchased with cash or credit.

The unique name, symbol, or design that identifies a product, service, or company.

• slogan

• headline

• brand

• good