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WorksheetsProduct Management Worksheet Questions (Review Material)
Total questions: 60
Worksheet time: 30mins
The two vital aspects in the process of organizing include
Raw materials and product design.
Owners equity and stockholder’s shares
Physical assets and human resources
Workers and management
The manufacturing firm’s primary objective in producing goods or services is
to sell good products
to help the economy
to provide jobs
to earn profit
Which department normally handles the policy of the firm?
Human Resources Dept.
Legal Office
Sales and Marketing
Finance
When a firm decides to produce lesser types of soap (from five to three brands), the firm is implementing
standardization
specialization
simplification
diversification
Why do firms diversify in their production activities?
because firms are confident to succeed with their single product line
because diversification does not affect market prices
because consumers demand for various goods
none of the above
Standardization of production process means
uniformity in product quality
simplification of work methods and tools
reduction of product style and features
all of the above
none of the above
Which of the four production operation characteristics deal(s) with the firm’s product line(s).
diversification and specialization
standardization and simplification
simplification and specialization
diversification and simplification
diversification and simplification
Specialization makes
the production process more simple
every worker knowledgeable of the whole production process
every unit of the production process independent
all of the above
none of the above
Which of the following statements is true?
Market research studies the consumers or the distributor.
Marketing research is a study about the marketing of goods and services.
Marketing research involves the study of the relationships and adjustments between production and consumption.
All of the above
None of the above
Research aims to reduce
conflict
cost
risk
production
Select all that apply. Which of the following are outputs of a marketing research?
market share of the company
forecasts of industry trends
cost-cutting projects
market share of the company & forecasts of industry trends
In developing new products it is important.
(a) to identify the market performance of the current products
(b) that the new product shall set new trends in the industry
(c) to determine the proper timing and place of launching
all except a
Identify the scope of research being described by the processes:
Making motivational or qualitative studies.
Research on miscellaneous activities
Research on advertising
Research on sales methods and policies
Research on products and services
Identify the scope of research being described by the processes:
Market Research
Estimating demand for new products
Simplifying product lines
Studying distribution cost
Selecting advertising media
Which is not a process in product research?
evaluation of new competitive products
packaging and design studies
sales/business forecasting
determining the sources of dissatisfaction with the product
One of the following is not a direct concern of research.
consumers’ preference
consumers’ purchasing power
consumers’ consumption
consumers’ demand
The stage in the research process where related information are gathered for analysis and interpretation to come up with a sound conclusion or solution.
Problem Identification
Formulation of Research Design
Data Collection
Reporting Research Findings
Statistical interpretation focuses on
what is typical or what deviates from the average
the raw data gathered for analysis
the statistical tool that shall be used
all of the above
Why is observation more advantageous in conducting marketing research?
economical
more objective than surveys
less accurate
few variable applicants
When all the units of a population have an equal chance of appearing in the sample, it is referred to as,
Stratified Sampling
Area Sampling
Quota Sampling
Random Sampling
What can be the best sign of a problem that would stimulate change?
high operational cost
decrease in sales
conflicts
all of the above
What are the disadvantages of secondary sources?
Obsolescence
Lower cost
Availability
All of the above
What is the root of any marketing plan?
Profit
Manufacturer
Market Trends
Consumer
What factors affect the buying attitudes of consumers?
Inventions
Economic situation
Population and employment
All of the above
Which of the following is an example of an emotional product motive?
a cosmetic tv commercial of Leah Salonga
a real estate advertisement
advertisements in home tv shopping
none of the above
Product Planning activities include
cost-cutting programs
branding, packaging and labeling of produced goods
production processes
improvement of working environment
A legally protected name or design used to identify the product.
trademark
brand name
copyright
none of the above
When a product is gauged by its significance to the customers and not to the sellers, it is referred to as
consumer product
extended product
tangible product
generic product
A type of product which have a particular attraction to the consumer who on the other hand would be willing to go out of his way just to be able to purchase the goods.
consumer product
convenience goods
specialty goods
shopping goods
An industrial product is purchased for
the ultimate consumer
its ultimate purpose
its attributes
its usefulness in production
A classification of goods which is very useful for consumer good but definitely not for industrial goods
degree of related decision making
store shopping behavior
product attributes and purpose
product components
How are installation equipment sold at a high price?
durability and efficiency are stressed
technical and maintenance support is packaged with the product
all of the above
none of the above
Product mix or product assortment
is the product that gave the identity to the manufacturing firm.
Includes all the product lines only.
Is the set of all product available in the market produced by different suppliers.
None of the above
In developing a new product, the conduct of market tests comes right before
the technical research.
The marketing and manufacturing program
Full-scale production and manufacturing
Generation of new ideas
What are the consideration in manufacturing new products?
adequate market demand
satisfactory legal considerations
capabilities of the production structure
all of the above
Product design includes
the appearance of the product
the functional design of the product
both are included
Why is visual design considered a market segmentation strategy?
Visual design makes the product unique.
It enhances the appearance of a product.
It improves the product marketability
All of the choices
When the customers follow the principle of familiarity, what colors could be used to attract them into considering a particular product?
all dark colors
combination of pastel colors
light and dark color of the same hue
any color will do
Generic brands are usually cheaper because
of packaging and distribution difference
promotion economics are low
lower quality of products
all of the above
Battle of the brands is actually beneficial,
because it leads to competitive advertising
because funds are tied-up in inventories
goods of better quality are developed
all of the above
Trademark on the good’s package
clearly identifies the product
gives information about the content of the product
provides directions on how to use the product
Identification of a particular product of a seller or group of sellers.
package
design
brand
Ronald Mc Donald is an example of
trade character
trademark
brand name
A family brand may be associated with
a particular brand name
a particular product line
the company’s track record
When branded goods are chosen based on past experiences with the product, the goods has reached what stage of brand familiarity?
brand recognition
brand insistence
brand preference
Today packaging has evolved with the new innovations in the market that it’s orientation has shifted.
Now, packaging is an effective sales promotion
Packaging has always been concerned only with protection of contents.
Both options are correct
It provides useful information about the product, its uses and benefits.
trademark
brand
packaging
label
Descriptive labels include what information?
quality equivalent of the product
construction, care, performance of a product
the brand of the product
Middlemen or marketing intermediaries are not involved in
analyzing marketing information
marketing management
production activities
physical distribution
What are the factors that should be considered in selecting Distribution Channel?
Order size
Geographic considerations
Cost of freight and handling
all of the three
Agricultural products produced by small farmers are usually sold through
two middlemen
single middleman
direct to the consumer
any of the three is applicable
Physical Distribution System is primarily concerned with
cutting cost
improving customer service
both are correct
To properly cost physical distribution, it is necessary that
the system should look into total distribution cost
costing must be done for each element in the system order processing
Aside from storage, what are the other two functions of warehousing?
stabilizing prices
facilitates smaller distribution
inventory and control of stocks
making available the seasonal items
When is the price of a particular product or product line changed?
When a new product is being launched?
When there is an organizational restructuring in the management?
When a discount can be given, example for cash payments?
All of the choices
Why are prices of goods changed?
To gain profit
To maintain or improve target market share
To stabilize prices
All of the choices
When does a manufacturer give allowance to buyers or dealers?
when the dealers sell their quota of the product
when the dealers display or promote their product line
when the buyers patronize their product line
It is offered to buyers to encourage prompt payment of invoices at a percentage discount based on the promptness of payment.
cash discount
trade discount
quantity discount
What does new product offer to gain entry into an established channel of distribution?
excellent performance
competitive packaging
price guarantees
The following pricing practices do not apply to new products except
normal percentage mark-up
meeting competitors’ prices
underselling competition
none of the choices
