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WorksheetsMM51 Unit 2 Review
Total questions: 19
Worksheet time: 10mins
Which is the product life cycle?
In this stage:
•Low sales
•High cost per customer acquired
•Negative profits
•Innovators are targeted
•Little competition
Product development
Introduction
Growth
Maturity
Decline
In this stage:
•Rapidly rising sales
•Average cost per customer
•Rising profits
•Early adopters are targeted
•Growing competition
Product development
Introduction
Growth
Maturity
Decline
In this stage:
•Sales peak
•Low cost per customer
•High profits
•Middle majority are targeted
•Competition begins to decline
Product development
Introduction
Growth
Maturity
Decline
In this stage:
•Declining sales
•Low cost per customer
•Declining profits
•Laggards are targeted
•Declining competition
Product development
Introduction
Growth
Maturity
Decline
Why would a business use a broad product mix?
To assure that the product lines are related
To decrease legal liabilities
To promote one-stop shopping
To relate the products to the target market
Why should a business continue to monitor an established product?
To evaluate how a product might fit the firm's product mix
To determine the acceptance of a product by a limited market
To make sure that a marketing plan is firmly in place
To make changes in order to extend a product's life cycle
Why is the quality level of a product an important product or service management decision?
It identifies a product's brand
It reflects the image of the business
It protects the consumer
It refers to the way the product works
Which is one way businesses use computer technology to obtain information to improve their product or service mix?
By tracking visitors to their websites
By compiling detailed databases
By mailing questionnaires
By preparing interactive software programs
What activity is addressed in the product or service management function?
Eliminating products that are slow sellers
Focusing promotional activities on a new product's release
Determining where products will be offered for sale
Setting discounts to clear products from inventory
A business is behaving unethically if its product's label contains what component?
Recyclable materials
Mandatory requirements
Misleading information
Nutritional values
Which is a reason that a business would make changes to its products?
To make room for other products
To predict success of the changed products
To spread risk over a wider area
To keep up with changing consumer preferences
