WorksheetsProduct, Services & Branding Strategies
Total questions: 15
Worksheet time: 8mins
Which of the following best defines a product?
An intangible benefit provided by one party to another
A tangible item offered to satisfy a want or need
A service that cannot be owned
An experience or performance
A service is defined as:
A physical item that can be touched and owned
An intangible activity offered in exchange for money
A tangible product with consistent quality
A good that can be stored and resold
Which of the following is a key difference between product and service?
Services can be owned, while products cannot
Products are perishable, while services can be stored
Products are tangible, while services are intangible
Both products and services are standardized
Which is an example of a convenience product?
Toothpaste
Luxury car
Designer handbag
Funeral service
Products like clothing and furniture, which consumers compare based on price and quality before purchase, are called:
Convenience products
Specialty products
Unsought products
Shopping products
Life insurance is classified as a(n):
Specialty product
Convenience product
Unsought product
Shopping product
Which stage of New Product Development involves generating ideas from employees, customers, or competitors?
Idea Screening
Concept Development & Testing
Idea Generation
Commercialisation
Developing a prototype and testing it with customers happens in which stage?
Idea Generation
Product Development
Test Marketing
Concept Development & Testing
Which stage involves analysing profitability, costs, and expected return?
Business Analysis
Product Development
Marketing Strategy Development
Commercialisation
Launching a product in selected markets before global release is known as:
Test Marketing
Commercialisation
Product Development
Idea Screening
In the Product Life Cycle, which stage has high marketing costs, low sales, and negative profits?
Growth
Maturity
Introduction
Decline
At which Product Life Cycle stage does the market become saturated, with sales peaking and competition intense?
Growth
Maturity
Decline
Introduction
Disney allowing companies to produce toys and clothes using its characters is an example of:
Brand Licensing
Brand Extension
Co-Branding
Family Branding
When a company uses its brand name to introduce new products in different categories, it is called:
Individual Branding
Brand Extension
Private Label Branding
Co-Branding
Nike collaborating with Apple to create Nike+ iPod is an example of:
Brand Licensing
Family Branding
Co-Branding
Individual Branding