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WorksheetsIA5 Review
Total questions: 19
Worksheet time: 10mins
Which Function of Packaging focuses on making a product stand out, design of the package, and making a package visually appealing?
Ensuring Safe Use
Promoting/Sell the Product
Promoting/Sell the Product
Providing Information
Meeting Customer Needs
The stages of a product life cycle are…
Introduction, selling a lot, maturation, and decline
Getting known, growth, maturation, and failing
Introduction, growth, maturity, and decline
Information, selling, maturation, failing
When a company decides to develop existing ideas and offer new products with similar characteristics they are embarking on
Product Extension
Product Modification
Product Growth
None of the above
A logo is an important part of branding because it gives a Brand
Identity
Style
Opportunity
Profits
The words “Fruit Loops”, this is an example of
Trade Name
Logo
Brand Name
Trademark
Select an option that best describes a disadvantage of branding.
A business gains a huge following of loyal customers.
The business’ products can be easily copied and sold for a much cheaper price.
Higher prices can be charged when consumers become loyal to the brand.
A business can save money on marketing once the product becomes a household name.
Select an option that best describes an advantage of branding
Branding guarantees a profit.
Higher prices can be charged when consumers become loyal to the brand.
A business can change its name if it wants to.
A business doesn’t have to make a new item.
The use of cable boxes is becoming obsolete for Xfinity, but due to product extension of adding Xfinity streaming app and the company focusing on consumer satisfaction and competitive pricing. What stage of the Product Life Cycle is Xfinity is for both products.
Growth, Growth
Decline, Growth
Decline, Introduction
Growth, Maturity
The pandemic has made online education and online telehealth visits more popular for consumers. New companies offering these products and services are emerging. Marketers are spending large amounts of money developing these products and explaining how they work to consumers. Which stage of the product life cycle is this an example of?
Introduction
Growth
Maturity
Decline
Internet-enabled appliances are becoming increasingly popular with consumers. You can purchase Smart refrigerators, stoves, washers and dryers, doorbells, thermostats, microwaves, etc. Marketers are stressing the features and benefits of owning these products in your home. Multiple brands are beginning to offer their versions of these Smart products. Which stage of the product life cycle is this an example of?
Introduction
Growth
Maturity
Decline
Which statement below best explains how a business can determine if a product or service is in the Growth or Maturity stage
The difference between the two stages that helps a company decide is increasing sales and profits show growth while when a product hits the maturity stage the sales become steady or begin to slow down.
A company must look at how long the product has been on the market?
After introducing a product it will always hit the growth stage.
All of the above
Burger King needs to receive feedback from its customers regarding their experiences at their restaurants and opinions about the New Impossible Burger. Which evidence supports Burger King is implementing Customer Feedback?
Burger King created BOGO promote
Burger King created a survey to rate service and food, and as a thank, you participants received a free meal redemption code
A business decides they need to introduce a product to the market. Someone on the team suggested completing a business plan as step 1. Which answer best explains why the Business Plan is not Step one in product development.
Having a business plan is a must for a new product but we cannot create a plan without knowing what, who or why we are planning
Business plans can be created as step one because all products need a plan
None of the above
All of the above.
A visual symbol associated with a product or company that gives the company identity is known as a
Slogan
Tagline
Logo
Campaign
M & M’s “Melts in your Mouth, Not in Your Hands” is an example of what?
Slogan
Logo
Company Description
Mission Statement
DVDs, CDs, VCRs no longer meet the wants and needs of consumers because consumers have discovered newer, better streaming products. Sales and profits have dropped tremendously for DVDs which has led to them being almost removed from the market altogether. Which stage in the product life cycle is this an example of?
Introduction
Growth
Maturity
Decline
The iPhone continually undergoes updates and redesigns to maintain a competitive edge and brand loyalty to the product. Name the characteristic of the Product Apple is engaged in?
Line Extension
Product Modification
Introduction
Decline
Kraft Foods sells Cool Whip, Capri Sun, and Macaroni and Cheese, this is an example of…
Retail Mix
Product Mix
Product Planning
Retail Planning
Due to the advancement in technology which best explains why companies have decreased their manual inventory count budget to quarterly or yearly.
The POS System can account for returns of a product, track inventory by SKU numbers, track sales, and alert management when stock is low for reorder.
The inventory doesn’t need to be counted due to stocking every night, weekly, or monthly.
Inventory should only be counted yearly.
Businesses account for losses and returns in sales forecasts so there isn’t a need for inventory management.
