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1 | |
The product life cycle describes the stages a new product goes through in the : |
| | A) | introduction phase |
| | B) | test market |
| | C) | product development |
| | D) | marketplace |
| | E) | diffusion stage |
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2 | |
During the introduction stage of the PLC, sales gradually increase and: |
| | A) | competition becomes tough |
| | B) | profit is minimal |
| | C) | more investors are needed |
| | D) | sales people are brought to push the product |
| | E) | the promotion that is finished |
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3 | |
The marketing objective for the maturity stage of the PLC is to: |
| | A) | maintain brand loyalty |
| | B) | stress differentiation |
| | C) | harvest |
| | D) | deletion |
| | E) | gain awareness |
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4 | |
The stage of the PLC where competitors appear is: |
| | A) | introduction |
| | B) | decline |
| | C) | competition is always there |
| | D) | maturity |
| | E) | growth |
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5 | |
Automobiles and TV's are in what stage of the PLC? |
| | A) | introduction |
| | B) | growth |
| | C) | post-growth |
| | D) | maturity |
| | E) | decline |
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6 | |
When a company retains the product but reduces marketing support costs it is in what stage of the PLC? |
| | A) | decline |
| | B) | maturity |
| | C) | growth |
| | D) | introduction |
| | E) | all stages |
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7 | |
A company will follow one of two strategies to handle a declining product: deletion or: |
| | A) | modification |
| | B) | harvesting |
| | C) | enhancement |
| | D) | strategic change |
| | E) | market change |
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8 | |
How long does it take to go through a PLC? |
| | A) | 1 day to 365 days |
| | B) | 1 year to 5 years |
| | C) | 1 year for consumer products and 5 years for industrial products |
| | D) | almost 2-3 years |
| | E) | No set time |
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9 | |
A product life cycle that rises and falls several times is an indication of what product type? |
| | A) | fads |
| | B) | fashion goods |
| | C) | low learning products |
| | D) | high learning products |
| | E) | all are the same cycle |
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10 | |
A PLC curve that rises rapidly then falls quickly is indication of a: |
| | A) | fashion product |
| | B) | low learning product |
| | C) | fad |
| | D) | high learning product |
| | E) | all are the same cycle |
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11 | |
The concept that explains how a product spreads through the population is called the: |
| | A) | acceptance rate |
| | B) | diffusion of innovation |
| | C) | infusion of sales |
| | D) | entry rate |
| | E) | product acceptance cycle |
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12 | |
Product managers are sometimes called : |
| | A) | manager of goods |
| | B) | consumer specialist |
| | C) | brand manager |
| | D) | product pusher |
| | E) | sales rep |
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13 | |
The use of M&M's candy as a replacement for chocolate chips in baked goods is an example of: |
| | A) | product modification. |
| | B) | market modification. |
| | C) | repositioning the product. |
| | D) | brand management. |
| | E) | a trademark. |
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14 | |
What are one-way mass merchandisers such as Sears Canada and The Bay can "trade up" in their stores? |
| | A) | Add a designer clothes section. |
| | B) | Change their perfume lines. |
| | C) | Open a line of discount outlet stores under a different name. |
| | D) | Offer more sales. |
| | E) | Upgrade their cash registers. |
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15 | |
The main benefit of branding to consumers is: |
| | A) | they save money. |
| | B) | they become more efficient shoppers. |
| | C) | they have more product choices. |
| | D) | they get confused. |
| | E) | they like the new designs. |
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16 | |
An organization using a name, phrase, design, symbols, or combination of these to identify its products is: |
| | A) | repositioning product lives |
| | B) | forming family units |
| | C) | trademarking products |
| | D) | patenting product |
| | E) | branding products |
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17 | |
Which of the following is a trade name? |
| | A) | Wheaties |
| | B) | Campbell Soup Company |
| | C) | Diet Dr. Pepper |
| | D) | Wheat-Thins |
| | E) | Golden Grahams |
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18 | |
Examples of brands that have achieved consumer-brand resonance are: |
| | A) | Harley-Davidson, Apple, and Dr. Pepper |
| | B) | Apple, Coke, and Palmolive |
| | C) | Harley-Davidson, IBM, and Coke |
| | D) | Apple, Dr. Pepper, and Citizen |
| | E) | Harley-Davidson, Apple, and Coke |
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19 | |
No-brand products are also known as: |
| | A) | generic brands. |
| | B) | private brands. |
| | C) | euro-brands. |
| | D) | mixed brands. |
| | E) | multi-brands. |
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20 | |
Warranties that are written statement of liabilities that are called: |
| | A) | full warranties |
| | B) | implied warranties |
| | C) | express warranties |
| | D) | limited coverage warranties |
| | E) | strict liability warranties |
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