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WorksheetsWeekly Quiz 22092023
Total questions: 50
Worksheet time: 8mins
A product mix is
a product's final form and assorted features
features added to the basic products that satisfy additional needs and wants
the name, symbol, logo, word, or design that identifies a product, service, or company
a group of similar products with slight variations to satisfy the different needs of consumers
A brand is
items offered in addition to the product to make it more attractive to the target market
features added to the basic product that satisfy additional needs of consumers
the name, symbol, logo, word, or design that identifies a product, service, or company
the legal protection of words and symbols used by a company
Fringe benefits are
incentives received in addition to a base salary
extra perks offered
sometimes company cars, cell phones, insurance packages
all of the above
Which of the following is NOT a component of the product mix?
product line
packaging
brand
distribution channels
When consumers value a brand to the extent that they reject other brands even when the preferred brand is unavailable, which level of brand recognition has been reached?
nonrecognition
rejection
preference
insistence
When consumers are unable to identify a brand because it is in the introductory stage of the product life cycle, which level of brand recognition are the consumers?
nonrecognition
rejection
recognition
preference
Which stage of brand recognition are consumers when they purchase a that brand whenever it is available, but may choose another brand if it is not available?
Recognition stage
Insistence Stage
Preferred Stage
Nonrecognition Stage
The penetrating price strategy is when
a company wants to differentiate its products or services from its competitors' products or services
a product is introduced at a very high price, emphasizing quality and uniqueness of the product
a product is introduced at a low price to help capture a large market share
a feature added to the basic products that satisfy additional needs and wants
Product extensions are
items offered in addition to the product to make it more attractive to the target market
incentives received in addition to a base salary
features added to the basic product that satisfy additional needs and wants
a well-known name and/or symbol established by one company and sold for use by another company to promote its products
If your product is in the decline stage of the product life cycle, would you
cut the product
sell the product to a licensing company
discount the merchandise
all of the above
A designer's insistence upon only being sold at the front of the store is an example of
positioning
skimming price strategy
penetrating price strategy
branding
A trademark is
a well-known name/symbol established by one company and sold for use by another company to promote its products
a product's final form and assorted features
the legal protection of words and symbols used by a company
the name, symbol, logo, word, or design that identifies a product, service, or company
A licensed brand is
a well-known name/symbol established by one company and sold for use by another company to promote its products
a product's final form and assorted features
the legal protection of words and symbols used by a company
the name, symbol, logo, word, or design that identifies a product, service, or company
This stage of a product's life cycle is when the target market knows about and regularly purchases the product
Introduction stage
Growth Stage
Decline Stage
Maturity Stage
Involves cultural trends and observing customer behaviors.
introducing the product
evaluating acceptance
testing the product
generating ideas
Eliminating possibilities until one or two ideas are selected for development.
generating ideas
screening ideas
introducing the product
evaluating customer acceptance
A prototype is made and tested.
testing the product
evaluating customer acceptance
screening ideas
generating ideas
Evaluates proposed product in terms of size of market, potential sales, costs, profit potential, technology, the competition, and the level of risk involved.
screening ideas
testing the product
business proposal
introducing the product
Companies make plans relating to production, packaging, labeling, branding, promotion, and distribution.
Testing the product
developing the product
evaluating customer acceptance
generating ideas
This stage is also called "commercialization". New products are advertised to introduce benefits to consumers.
Developing the product
Testing the product
Developing a proposal
Introducing the product
Marketers track customer responses to the product.
Evaluating customer acceptance
Developing the product
Testing the product
Testing a product proposal
New product development generally involves ______ key steps.
9
8
10
5
Creativity is essential in this step of new product development.
Testing the product
Development of the product
Generating ideas
Introduction of the product
A model of a new product.
protagonist
prototype
proton
production
Which of the following phase involve selecting the best idea and dropping poor ideas?
Idea generation
Business Analysis
Market strategy development
Idea screening
Business analysis includes
review of the sales
review of the costs
profit projections
Which of the following stages involve transforming a product concept into a physical product to offer workable market offering?
Business analysis
Product development
Marketing strategy development
Concept development and testing
Game Freak wish to introduce a new product into the market. First, they need to
screen ideas
brainstorm ideas
conduct business analysis
develop marketing strategy
The ideas generation can come from
employees
customers
competitors
ghost
In a business trip, you look for a hotel where you can rest nearby the train station. Rest and location belong to...
Core Benefit
Generic product
Expected product
Augmented product
Potential product
You are staying in 4*** hotel. "Free wifi" and a "clean room" are...
Core Benefit
Generic product
Expected product
Augmented product
Potential product
The 4*** hotel belongs to NH chain. "NH hotels" is...
Core Benefit
Generic product
Expected product
Augmented product
Potential product
The hotel's buffet offers breakfasts with "recently made omelets" and "freshly made bread"
Core Benefit
Generic product
Expected product
Augmented product
Potential product
The hotel plans to develop a "Virtual Reality experience" for potential guests
Core Benefit
Generic product
Expected product
Augmented product
Potential product
The "core benefit" of a car is...
Safety
Speed
Transport
Make out
Which feature does NOT belong to the GENERIC PRODUCT level?
Brand
Packaging
Design features
Warranty
In the purchase of a Zara coat, which feature SHOULD NOT you expect?
Warmth
Highest quality
Trendy
Cheap
When purchasing a new fridge, which feature belongs to the AUGMENTED PRODUCT?
5-year warranty
White or Steel style
BOSCH
Frost-free freezer
What is the Potential Product of Amazon?
Aerospace
Same-day delivery
Bank
Fund your purchases
Which company uses a CORPORATE UMBRELLA brand strategy?
Dunlop
Nestlé
Procter & Gamble
Ford
Which company uses an INDIVIDUAL BRANDS strategy?
Chupachups
LG
Amazon
Coca-Cola
Which company uses a RANGE BRANDS strategy?
Coca-cola
Opel
Zara
Amazon
Which company uses a SECOND BRANDS strategy?
Ariel and Fairy (P&G)
Huawei and Xiaomi (Samsung)
Levi's and Dockers (Levi Strauss)
Schweppes and Nordic Mist (Coca-Cola)
Which company uses an OWN LABEL (PRIVATE) BRANDS strategy?
Zara
Media Markt
Amazon
LG
From among the following, identify the factor which does not form part of facilitating function of marketing?
Financing
Risk bearing
Packaging
Standardization
Holistic marketing does not include:
Relationship marketing
Integrated marketing
Internal marketing
Digital marketing
Social responsibility marketing
Modern concept of marketing starts with:
Purchase
Storage
Consumer research
Promotion
Which is the pattern of segmentation wherein the firms view each customer as a separate segment?
Undifferentiated marketing
Concentrated marketing
Customized marketing
Differentiated marketing
Loyalty segmentation forms part of :
Demographic segmentation
Behavioural segmentation
Psychographic segmentation
Geographic segmentation
When companies change their product design, formulation, or brand image, so as to alter the product's competitive position, the same is referred to as :
Positioning by Corporate identity
Positioning by product category
Positioning by competitor
Repositioning
