Product Review

What is the definition of "product"?

• A method or service that is the starting point of a process and serves as a need or want creator.

• A good, idea, method, information, object or service that is the end result of a process and serves as a need or want satisfier.

• A marketing strategy that ensures the success of a new product launch.

• A business model that focuses on the production of goods without considering the needs or wants of consumers.

What percentage of new products introduced each year fail?

• 25%

• 50%

• 75%

• 95%

What must the product you develop fit into?

• The marketing mix

• The product mix of the company

• The service mix

• The market segment

What does a product mix include?

• Only the best-selling products of a company

• The marketing strategies for products

• All of the different products that a company makes or sells

• The target customers for the products

What does Apple's product mix include?

• Computers (desktop and laptop)

• Apple Watch

• Software

• All of the above

What are product lines within a product mix?

• A collection of products that are not related to each other

• A group of products within the product mix that are closely related

• A set of products from different companies

• A series of advertisements for a product

What does the width of a company's product mix refer to?

• The number of products in each product line

• The number of product lines that a company offers

• The total number of products a company sells

• The variety of sizes available for each product

If a company has three product lines, what is its product mix width?

• One

• Two

• Three

• Four

How does Apple approach its product mix?

• By offering a wide range of products.

• By focusing on a few products and making them poorly.

• By focusing on a few products and making them very well.

• By constantly changing its product mix.

What is a characteristic of a 'Star Product'?

• Low potential for growth

• Insignificant market share

• Potential to dominate a market

• Avoiding new versions releases