Principles of Marketing Quiz

What is a product?

• Only tangible goods that can be sold

• A service that is provided to customers

• A brand that is well-known

• Anything that can be offered in a market for attention, acquisition, use, or consumption

Which of the following is NOT a type of consumer product?

• Unsought products

• Industrial products

• Specialty products

• Convenience products

What characterizes convenience products?

• Requires significant advertising

• High price and extensive comparison

• Frequent purchase with little effort

• Unique characteristics and brand loyalty

Which type of product requires aggressive advertising and personal selling?

• Shopping products

• Convenience products

• Specialty products

• Unsought products

What is the primary focus of branding strategy?

• Increasing product prices

• Reducing marketing costs

• Managing and building brands

• Creating new products

What does the product life cycle NOT include?

• Maturity

• Innovation

• Growth

• Introduction

What is a characteristic of services?

• They require no marketing

• They are intangible

• They are always low-priced

• They can be stored for later use

What is a line extension?

• Combining two established brands

• Creating a new brand name

• Extending existing brand names to new forms or flavors

• Marketing multiple brands in one category

What happens during the decline stage of the product life cycle?

• High distribution expenses

• New competitors enter the market

• Sales fall off and profits drop

• Sales increase rapidly

What is the main goal of co-branding?

• To limit product distribution

• To reduce marketing costs

• To combine strengths of two brands for greater appeal

• To create a new brand name