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WorksheetsProduct Management Chapter 5
Total questions: 25
Worksheet time: 17mins
A ________ is the way consumers perceive an actual or potential product.
Concept test
Test market
Product image
Product idea
Which stage has lots of competitors?
growth
maturity
introduction
decline
What is a product extension?
longer production time
products with extension features
strategies to keep the product from declining
products that keep going through the different stages
Which stage requires lots of advertising?
introduction
growth
maturity
decline
Which stage has the least production costs?
introduction
maturity
decline
growth
Which stage has economies of scale?
introduction
growth
maturity
decline
What stage would Netflix be in? Discussion.
introduction
growth
maturity
decline
What stage has numbers of prototypes?
introduction
growth
maturity
decline
What stage would a business have large market share?
Intro
growth
maturity
decline
What stage could encourage niche markets?
intro
growth
maturity
decline
What stage has least competitors?
intro
maturity
decline
growth
What is the MAIN purpose of using a PLC?
to help with staffing issues
to improve customer service
to help make better marketing decisions over time
to lift salaries for directors
What is the first stage of the product life cycle?
Growth - product sales increase
Introduction - new product to the market
Maturity - product sales start to slow down
Decline - product sales decrease
An example of the Introduction phase is when the First iPhone was released by Apple
True
False
What is the second phase of the product life cycle?
Introduction - new product released
Maturity - product sales start to slow down
Growth - product sales increase
Decline - product sales decrease
What is the 3rd stage of the product life cycle?
Maturity - product sales start to slow down
Decline - product sales decrease
Growth - product sales increase
Introduction - new product release
What is the 4th/final stage of the product life cycle?
Growth - product sales increase
Introduction - new product release
Decline - product sales decrease
Maturity - product sales start to slow down
How many stages are in the product life cycle?
3
4
6
7
Select the 2 advantages of branding
A business can save money on marketing once the product becomes a household name.
It means businesses don't have to make new items.
The business can change its name if it wants to.
Higher prices can be charged when consumers become loyal to the brand.
Customers that buy brands expect the product to be high
in price
quality
Branding is
the use of a name, design, symbol, or a combination of those elements that a sports or entertainment organization uses to help differentiate its products from the competition
is a device that legally identifies ownership of a registered brand or trade name
The process of working toward maximizing recognition of a particular brand
Consumer preference for a particular brand as compared to competitor products or services
Which of the following is NOT an important factor in Branding a business?
Communicating the business aims and objectives
Adding value to the product or service
Creating loyal customers
Competitor analysis
