Marketing VQuiz #6

What is the term for an advantage consumers receive from using a product?

• Benefit

• Bundle

• Prototype

• Screening

What is the process of thinking up or creating new plans, schemes, or thoughts?

• Licensing

• Positioning

• Idea generation

• Commercialization

What is the term for a combination of goods and/or services grouped together and offered as one product?

• Bundle

• Product mix

• Corporate brand

• Test marketing

What is the stage in the product life cycle when the product first appears in the marketplace?

• Growth stage

• Introduction stage

• Maturity stage

• Decline stage

What is the term for the systematic gathering, recording, and analyzing of data about a specific issue, situation, or concern that affects a market?

• Concept testing

• Screening

• Product development

• Market research

What is the term for the removal of a weak product from the market and from the company’s product mix?

• Product elimination

• Commercialization

• Licensing

• Brainstorm

What is the term for services provided to consumers without the involvement of any tangible product?

• Service(s)

• Goods

• Pure services

• Product-related services

What is the process of introducing a new product to a limited market to determine what its acceptance will be?

• Test marketing

• Concept testing

• Product development

• Screening

What is the term for a product mix strategy in which a business creates a certain image or impression of a product in the minds of consumers?

• Positioning

• Licensing

• Marketing strategy

• Product/service management

What is the term for the product life cycle stage in which sales peak and then increase at a slower rate or start to decline?

• Decline stage

• Introduction stage

• Growth stage

• Maturity stage