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2.01_PM17 H. Marketing Review
Test Description: Part A
Instructions: Answer all questions to get your test result.
1) Product/Service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to
A
market opportunities.
B
CEO wishes.
C
competitors only.
D
government oversight.
2) A new car that provides you the benefit of transporting you to work is known as a(n)
A
service.
B
brand name.
C
good.
D
product mix.
3) Massages, cooking lessons, and Internet connections are known as
A
product lines.
B
services.
C
brand-name products.
D
private labels.
4) Services that include delivery, instruction, or maintenance are referred to as __________ services.
A
product-related
B
new-product
C
pure
D
quality
5) A service that is not attached to any tangible good is known as a __________ service.
A
product-related
B
new-product
C
quality
D
pure
6) Which of the following statements is true of product/service management:
A
It involves discovering new-product opportunities.
B
It is only necessary for large businesses.
C
It involves continuing to sell unsuccessful products.
D
It is only useful for small businesses.
7) Product/Service management should be approached from the angle of the
A
product itself.
B
product’s technological benefits.
C
competition’s point of view.
D
customer’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?
A
Company goals
B
Product monitoring
C
Market research
D
Product life cycles
9) Costs and available resources are especially important factors for product/service managers to examine during which phase of product/service management?
A
Idea generation
B
Elimination of weak products
C
Monitoring of existing products
D
New-product development
10) When a competing product that offers additional benefits enters the market, a business’s product may become
A
technologically beneficial.
B
more popular.
C
obsolete.
D
trendsetting.
11) Which of the following controls such new-product considerations as warranties and safety standards:
A
Market research studies
B
Government regulations
C
Stages in product life cycles
D
Product characteristics
12) Which of the following is a stage of a product’s life cycle:
A
Adolescence
B
Maturity
C
Birth
D
Death
13) Product/Service management can help to decrease
A
financial success.
B
profits.
C
ales.
D
business risk.
14) Product/Service management plays an important role in marketing because it affects a busi-ness’s strategy to create a certain impression of a product in the minds of customers. This strategy is known as
A
idea screening.
B
project management.
C
positioning.
D
licensing.
15) What is the first day of Thanksgiving break this year?
A
Tuesday
B
Thursday
C
Monday
D
Wednesday
*select an answer for all questions
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