WF Marketing Lap 17
Rapping Up Products Post Test
1. Product/service management is a marketing function that involves obtaining, developing,
maintaining, and improving a product or service mix in response to (5 points)
a. competitors only.
c. market opportunities.
b. government oversight.
d. CEO wishes.
2. A tangible, or physical, item and the customer benefits that it offers is known as a(n) (5 points)
a. service.
c. product mix.
b. good.
d. brand name.
3. Products that are performed rather than produced are known as (5 points)
a. services.
c. product lines.
b. brand-name products.
d. private labels.
4. Services that include delivery, instruction, or maintenance are referred to as __________
services.
a. pure
c. quality
b. new-product
d. product-related
5. A service that is not attached to any tangible good is known as a __________ service.
a. pure
c. quality
b. new-product
d. product-related
6. Which of the following is not a product/service-management activity:
a. Reassessing products that are not meeting expectations
b. Conducting interviews with potential employees
c. Coordinating the product mix
d. Sustaining successful products as long as possible
7. Product/service management should be approached from the angle of the (5 points)
a. product’s technological benefits.
c. product itself.
b. customer’s point of view.
d. competition’s point of view.
8. What can help product/service managers predict whether a new product will be successful
before a business makes a major investment? (5 points)
a. Company goals
c. Market research
b. Product life cycles
d. Product monitoring
9. Costs and available resources are especially important factors for product/service managers
to examine during which phase of product/service management? (5 points)
a. Elimination of weak products
c. New-product development
b. Idea generation
d. Monitoring of existing products
10. When a competing product that offers additional benefits enters the market, a business’s
product may become (5 points)
a. more popular.
c. trendsetting.
b. obsolete.
d. technologically beneficial.
11. Which of the following controls such new-product considerations as warranties and safety
standards:
a. Government regulations
c. Stages in product life cycles
b. Product characteristics
d. Market research studies
12. Product/service management can help to decrease (5 points)
a. profits.
c. financial success.
b. sales.
d. business risk.
13. Product/service management plays an important role in marketing because it affects a
business’s strategy to create a certain impression of a product in the minds of customers. This
strategy is known as
a. project management.
c. idea screening.
b. licensing.
d. positioning.
14. Which of the following is a stage of a product’s life cycle: (5 points)
a. Birth
c. Maturity
b. Adolescence
d. Death
15. Which step in the new-product development process involves seeking feedback from
customers to know what response they would give to a proposed product? (5 points)
a. Product screening
c. Feasibility analysis
b. Idea generation
d. Concept testing
16. In which step of the new-product development process do product/service managers
estimate the cost of production and make plans for packaging, labeling, brand name, promotion,
and distribution? (5 points)
a. Test marketing
c. Product development
b. Commercialization
d. Idea generation
17. Are all products test marketed? (5 points)
a. No; it can delay entry into the full market.
b. Yes; it guarantees product success.
c. No; it is usually an unnecessary step in new-product development.
d. Yes; it gives an accurate picture of a product’s performance.
18. At what point in the new-product development process does a product’s life cycle begin? a.
Idea generation
c. Product development
b. Test marketing
d. Commercialization
19. Why should existing products be monitored? (5 points)
a. To put a marketing plan in place
b. To make changes to extend a product’s life cycle
c. To determine the acceptance of a product by a limited market
d. To evaluate how well a product might fit into a firm’s product mix
20. Why must care be taken in eliminating weak products?
a. To prevent damaging a company’s image
b. To reduce a company’s market share
c. To obtain higher product costs
d. To increase the number of product-related complaints