Product/Service Management Unit

What is the primary focus of Product Service Management?

• Marketing

• Product Development

• Customer Service

• Financial Management

What is the primary difference between goods and services?

• A) Goods are tangible, services are intangible

• B) Goods are intangible, services are tangible

• C) Both are tangible

• D) Both are intangible

The product/service management function is essential for:

• Increasing sales

• Reducing costs

• Enhancing customer satisfaction

• All of the above.

In product/service management, goods are considered ______.

• Intangible

• Tangible

• Both tangible and intangible

• Neither tangible nor intangible

New product development includes which of the following steps?

• A) Idea generation, concept development, testing

• B) Concept development, testing, marketing

• C) Testing, marketing, commercialization

• D) Marketing, idea generation, testing.

Describe what happens in each phase of the product life cycle. Which phase involves the highest level of competition?

• Introduction

• Growth

• Maturity

• Decline

Explain the purpose and function of product packaging. Which of the following is NOT a function of product packaging?

• A) Protection

• B) Promotion

• C) Production

• D) Information

Which of the following is a function of product packaging?

• To provide information

• To increase cost

• To decrease shelf life

• To confuse consumers.

Fill in the blank: Product mix refers to the total range of products ________ by a company.

• Sold

• Offered

• Manufactured

• Imported

Which of the following is a correct statement about product width?

• It refers to the number of variations within a product line.

• It refers to the number of product lines a company offers.

• It refers to the total range of products offered by a company.

• It refers to the number of markets a product is sold in.