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PRODUCT STRATEGY

Total questions: 50

Worksheet time: 25mins

Name
Class
Date
1.

The term _________ is mostly used as a need-satisfying entity.

a)

Place

b)

Product

c)

Promotion

d)

Price

2.

The total product personality is mostly enhanced through the _____________ features.

a)

Branding

b)

Labelling

c)

Packaging

d)

Associated

3.

_____________ is the basic element of the product.

a)

Core product

b)

Branded product

c)

Specific product

d)

Differentiated product

4.

_____________ provides written information about the product.

a)

Branding

b)

Package

c)

Label

d)

Logo

5.

_________ increases aesthetics and sales appeal.

a)

Package

b)

Label

c)

Logo

d)

Brand mark

6.

A ___________ is defined as a name, term, symbol, design or a combination of them which is intended to identify the goods and services of one seller and to differentiate them from those of competitors.

a)

Brand name

b)

Brand mark

c)

Trade mark

d)

Brand

7.

People buy ___________ and not the physical object.

a)

Brand

b)

Services

c)

Product

d)

Ideas

8.

Four marketing decisions needed for the effective marketing of a product is called ....

(answer can me more than 1)

a)

marketing mix

b)

4Ps

c)

Marketing affectiveness

d)

marketing elasticity

9.

Goods and services produced to satisfy customer needs and wants (?)

a)

product

b)

brand

c)

marketing mix

d)

none of these options

10.

An identity or symbol that distinguish a product from competitors' product (?)

a)

brand

b)

brand image

c)

product

d)

product elasticity

11.

Which of the following are the costs of new product development?

a)

no guarantee it would be a success

b)

expensive market research

c)

large capital expenditure might occur

d)

competitive advantage

12.

Which of the following are benefits of new product development?

a)

increase potential sales

b)

it might help the business to survive when the market has changed

c)

more finance would be needed

d)

dis-economies of scale

13.

General impression of a produce held by consumers (?)

a)

brand image

b)

brand

c)

product

d)

customer loyalty

14.

Which of the following are the roles of packaging?

a)

protection to the product

b)

provide information about the product

c)

help consumers recognise the product

d)

to keep the product fresh

15.

- sales are low

- product might be making a lost

- huge advertising cost


These are characteristics of which stage in the Product Life Cycle?

a)

Growth

b)

Introduction

c)

Maturity

d)

Saturation

16.

- Sales stop growing

- most profitable stage

- threat of declining might occur


This stage is called ..... in the Product Life Cycle.

a)

Introduction

b)

Saturation

c)

Growth

d)

Maturity

17.

- sales are going down

- product has not been generating profit

- product needs to be pulled out from the market


This stage is called .... in the Product Life Cycle.

a)

Decline

b)

Growth

c)

Saturation

d)

Introduction

18.

Which of following is/are in decline stage?

a)

Blackberry

b)

Nokia

c)

Kodak

d)

iPhone

19.

- Product is becoming better known

- Sales are increasing

- Product starts to earn profit


This stage is called ... in the Product Life Cycle

a)

Growth

b)

Introduction

c)

Saturation

d)

Maturity

20.

Which of the following is the correct order of the stages in the Product Life Cycle?

a)

Development, Introduction, Growth, Maturity, Saturation, Decline

b)

Introduction, Development, Growth, Maturity, Saturation, Decline

c)

Development, Introduction, Growth, Saturation, Maturity, Decline

d)

Introduction, Development, Maturity, Growth, Saturation, Decline

21.
The product life cycle shows the different stages that a product passes through and sales that can be expected at each stage
a)
True
b)
False
22.
What is happening at point F on the Product Life Cycle?
a)
Introduction
b)
Decline
c)
Maturity
d)
Growth
23.
Which of these are extension strategies of a product?
a)
Cut price
b)
Modify the product
c)
All of these
d)
Special Offers
24.
An established product which is bringing in revenue is a comment about which stage of the Product Life Cycle?
a)
Decline
b)
Maturity
c)
Introduction
d)
Growth
25.
Which of these comments is most suitable for Growth?
a)
Heavy investment but no sales
b)
Sales are likely to be low as the product is new to the market
c)
Revenue is increasing as the product gains popularity
d)
Likely to be characterised as a dog in the Boston Matrix
26.
Firms with a technically superior good may well engage in price skimming. This comment could apply to which stage of the Product Life Cycle?
a)
Introduction
b)
Growth
c)
Decline
d)
Maturity
27.
Which is the odd one out?
a)
Firms tend to charge a higher price at this stage
b)
Products initial appearance on the market.
c)
As time passes sales should rise
d)
This can be expensive. Price charged may have to be high to recoup cost of launching the product
28.
Which is the odd one out?
a)
Firms tend to charge a higher price at this stage
b)
Products initial appearance on the market.
c)
As time passes sales should rise
d)
This can be expensive. Price charged may have to be high to recoup cost of launching the product
29.

What is happening at point F of the Product Life Cycle?

a)

Growth

b)

Maturity

c)

Extension Strategy

d)

Introduction

30.
Costs are incurred e.g. building new production lines, promotion and distribution costs. Likely the product will still not be profitable. The length of this stage will vary.
a)
Maturity
b)
Growth
c)
Introduction
d)
Decline
31.
What happens to the cash flow of a business at the growth stage of the product life cycle?
a)
The cash flow should become more positive
b)
Cash flow is likely to be negative because money has to be spent on research and development
c)
Sales will fall and cash flow will drop
d)
There may be a need to spend money re-promoting the product. As a result, cash flow may begin to fall.
32.

Which of the following phase involve selecting the best idea and dropping poor ideas?

a)

Idea generation

b)

Business Analysis

c)

Market strategy development

d)

Idea screening

33.

Which of the following phases are in the product life cycle?

a)

Product development

b)

Introduction

c)

Growth

d)

Product replacement

34.

Maturity is the period where

a)

Profits are nonexistent in this stage because of the heavy expenses of product introduction.

b)

rapid market acceptance and increasing profits.

c)

Profits level off or decline because of increased marketing outlays to defend the product against competition.

d)

sales fall off and profits drop.

35.

Which customers are often buy during the introduction of new product?

a)

Laggards

b)

Middle majority

c)

Early adopters

d)

Innovators

36.

Declining is the period where

a)

Profits are nonexistent in this stage because of the heavy expenses of product introduction.

b)

rapid market acceptance and increasing profits.

c)

Profits level off or decline because of increased marketing outlays to defend the product against competition.

d)

sales fall off and profits drop.

37.

Which customers are often buy during the declining stage of new product?

a)

Laggards

b)

Middle majority

c)

Early adopters

d)

Innovators

38.

Business analysis includes

a)

review of the sales

b)

review of the costs

c)

profit projections

39.

Which of the following stages involve transforming a product concept into a physical product to offer workable market offering?

a)

Business analysis

b)

Product development

c)

Marketing strategy development

d)

Concept development and testing

40.

Game Freak wish to introduce a new product into the market. First, they need to

a)

screen ideas

b)

brainstorm ideas

c)

conduct business analysis

d)

develop marketing strategy

41.

The ideas generation can come from

a)

employees

b)

customers

c)

competitors

d)

government

42.

Involves cultural trends and observing customer behaviors.

a)

introducing the product

b)

evaluating acceptance

c)

testing the product

d)

generating ideas

43.

Eliminating possibilities until one or two ideas are selected for development.

a)

generating ideas

b)

screening ideas

c)

introducing the product

d)

evaluating customer acceptance

44.

A prototype is made and tested.

a)

testing the product

b)

evaluating customer acceptance

c)

screening ideas

d)

generating ideas

45.

Evaluates proposed product in terms of size of market, potential sales, costs, profit potential, technology, the competition, and the level of risk involved.

a)

screening ideas

b)

testing the product

c)

business proposal

d)

introducing the product

46.

Companies make plans relating to production, packaging, labeling, branding, promotion, and distribution.

a)

Testing the product

b)

developing the product

c)

evaluating customer acceptance

d)

generating ideas

47.

This stage is also called "commercialization". New products are advertised to introduce benefits to consumers.

a)

Developing the product

b)

Testing the product

c)

Developing a proposal

d)

Introducing the product

48.

A model of a new product.

a)

protagonist

b)

prototype

c)

proton

d)

production

49.

Packaging does not show the name of the product.

a)

True

b)

False

50.

Packaging helps move the product.

a)

True

b)

False

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