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Worksheets2.01 - Test
Total questions: 20
Worksheet time: 10mins
Product/Service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to
government oversight.
competitors only.
market opportunities.
CEO wishes.
A new car that provides you the benefit of transporting you to work is an example of a
service.
good.
product mix.
brand name.
Massages, cooking lessons, and Internet connections are examples of
services.
brand-name products.
product lines.
private labels.
Services that include delivery, instruction, or maintenance are __________ services.
pure
new-product
quality
product-related
A service that is not attached to any tangible good is a __________ service.
pure
new-product
quality
product-related
Which of the following statements is true of product/service management:
It is only useful for small businesses.
It involves discovering new-product opportunities.
It is only necessary for large businesses.
It involves continuing to sell unsuccessful products.
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.
What can help product/service managers predict whether a new product will be successful
before a business makes a major investment?
Company goals
Product life cycles
Market research
Product monitoring
Costs and available resources are especially important factors for product/service managers to examine during which phase of product/service management?
Elimination of weak products
Idea generation
New-product development
Monitoring of existing products
When a competing product that offers additional benefits enters the market, a business’s product may become
more popular.
obsolete.
trendsetting.
technologically beneficial
Which of the following controls such new-product considerations as warranties and safety standards:
Government regulations
Product characteristics
Stages in product life cycles
Market research studies
Which of the following is a stage of a product’s life cycle:
Birth
Adolescence
Maturity
Death
Product/Service management can help decrease
sales.
profits.
financial success.
business risk.
Product/Service management plays an important role in marketing because it affects a business’s strategy to create a certain impression of a product in the minds of customers. This strategy is
project management.
licensing.
idea screening.
positioning.
Which step in the new-product development process involves seeking feedback from customers to know what response they would give to a proposed product?
Product screening
Idea generation
Feasibility analysis
Concept testing
Corinne, a product/service manager, is in charge of figuring out her product’s cost of production, as well as making plans for packaging, labeling, brand name, promotion, and distribution. Which step of the new-product development process is Corinne working on?
Test marketing
Commercialization
Product development
Idea generation
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.
At what point in the new-product development process does a product’s life cycle begin?
Idea generation
Test marketing
Product development
Commercialization
Why should existing products be monitored?
To put a marketing plan in place
To make changes to extend a product’s life cycle
To determine the acceptance of a product by a limited market
To evaluate how well a product might fit into a firm’s product mix
Why must care be taken in eliminating weak products?
To prevent damaging a company’s image
To reduce a company’s market share
To obtain higher product costs
To increase the number of product-related complaints
