TSA Review STANDARD 8.0 EXAMINE CONCEPTS AND PROCESSES OF THE CR

Which of the following is NOT a concept related to the creation and distribution of products?

• Marketing

• Manufacturing

• Finance

• Biology

Answer explanation

The concept NOT related to the creation and distribution of products is Biology, as it is not directly involved in the manufacturing, marketing, or financial aspects of product development.

What is the first step in the product development process?

• Market research

• Idea generation

• Prototype testing

• Product launch

Answer explanation

The first step in the product development process is idea generation, where potential concepts are brainstormed and explored before moving on to other stages like market research, prototype testing, and product launch.

Which of the following is an example of a physical product?

• Software application

• Consulting service

• Automobile

• Insurance policy

Answer explanation

The correct choice is 'Automobile' because it is a physical product that can be touched and seen, unlike software applications, consulting services, or insurance policies.

What is the purpose of a supply chain?

• To increase product prices

• To reduce product quality

• To manage the flow of goods and services

• To decrease customer satisfaction

Answer explanation

The purpose of a supply chain is to manage the flow of goods and services, ensuring efficient movement from production to consumption.

Which of the following is an example of a distribution channel?

• Social media advertising

• Product packaging

• Online marketplace

• Product design

Answer explanation

An online marketplace is an example of a distribution channel as it serves as a platform for products to reach consumers directly.

What is the role of branding in product creation and distribution?

• To increase production costs

• To decrease customer loyalty

• To differentiate products from competitors

• To limit product availability

Answer explanation

Branding plays a crucial role in product creation and distribution by differentiating products from competitors, helping to establish a unique identity and attract customers.

Which of the following is an example of a product feature?

• Price

• Brand reputation

• Customer service

• Color options

Answer explanation

Color options is an example of a product feature as it refers to the different choices available in terms of color for the product.

What is the purpose of market segmentation?

• To decrease product demand

• To increase production costs

• To target specific customer groups

• To limit product availability

Answer explanation

Market segmentation is done to target specific customer groups, allowing companies to tailor their products and marketing strategies to meet the unique needs and preferences of different segments.

Which of the following is an example of a product life cycle stage?

• Introduction

• Research

• Planning

• Evaluation

Answer explanation

The correct choice is Introduction, which is an example of a product life cycle stage.

What is the role of pricing in the creation and distribution of products?

• To decrease product demand

• To increase production costs

• To communicate product value

• To limit product availability

Answer explanation

Pricing plays a role in communicating product value to consumers, influencing their perception of the product's quality and desirability.