Marketing Unit 2 Test 2023

A fast-food company offers burgers, chicken nuggets, pizza, and French Fries. Eventually, the company realizes that the pizzas are not profitable and decides to stop selling them. Which product-mix strategy is the company using?

• Trading down

• Trading up

• Alteration

• Contraction

When a company becomes aware of a potential product risk after the product is already on the market, companies should announce a

• product discount.

• voluntary recall.

• shut-down of all stores.

• company investigation.

Are all products test marketed?

• No; it can delay entry into the full market.

• Yes; it guarantees product success.

• No; it is usually an unnecessary step in new-product development.

• Yes; it gives an accurate picture of a product's performance.

Most products we use are in which stage of the product life cycle?

• Introduction

• Growth

• Maturity

• Decline

During the decline stage, a company may choose to continue offering the product but cut out all promotional expenditures. This is a strategy known as

• price skimming

• harvesting

• liquidating

• bundling

A software manufacturer may sell an entire "suite" of software programs for one price during the maturity stage. This is a marketing strategy known as

• bundling.

• harvesting.

• price skimming.

• penetration pricing.

Providing instructions to customers for proper use and/or care of a product is a primary purpose of a product's

• package

• price tag

• label

• photo

Massages, cooking lessons, and Internet connections are known as

• services.

• brand-name products.

• product lines.

• private labels.

Which of the following is one of the main goals of promotion during the introduction stage:

• Focusing on brand rather than product

• Beating the competition

• Stimulating repeat purchases

• Building awareness of the product

Product/Service management should be approached from the angle of the

• product's technological benefits.

• customer's point of view.

• product itself.

• competition's point of view.