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3.01 MARKETING Part B
Test Description: 3.01 MARKETING part B
Instructions: Answer all questions to get your test result.
1) Why might profits sometimes decline for the company that first introducted the product during the growth stage of a product's life cycle?
A
Because competitors have entered the market
B
Because production is more efficient
C
Because marketing strategies are adjusted
D
Because sales decline in the growth stage
2) Why does a company need to know what stage of the product life cycle its products are in?
A
To predict the length of the life cycle
B
To adapt its marketing strategies
C
To prevent imitators from entering the market
D
To find new uses for the product
3) What is one way businesses use computer technology to obtain information to improve their product/service mix?
A
Mailing questionnaires to customers
B
Tracking visitors to their web sites
C
Preparing interactive software programs
D
Compiling detailed databases
4) Which of the following technological tools helps a business's employees simultaneously acces the same information about the business's products?
A
Memory card
B
Intranet
C
Micro-portal
D
Generator
5) In what stage of brand loyalty do people become aware of the brand?
A
Recognition
B
Instance
C
Preference
D
Satisfaction
6) What is a technologically advanced method that allows businesses to produce products that are specialized for a very few customers?
A
Mass customization
B
Intermittent conversion
C
Computerized robotics
D
Automatic production
7) Five years after a new product has been introduced, sales begin to level off because customers are purchasing the competitor's brand. What strategy would be most appropriate?
A
Do nothing; fluctuations in sales are common
B
Take the product off the market
C
Triple the advertising budget for the product
D
Modify the product to renew customer interest
8) Why is the quality level of a product an important product/service management decision?
A
It reflects the image of the business.
B
It refers to the way the product works.
C
It identifies a product's brand
D
It protects the consumers
9) Why do companies use brands for their products?
A
To differentiate their products
B
To encourage materialism
C
To demonstrate creativity
D
To charge higher prices
10) Why must all businesses incorporate their values into every aspect of their operations?
A
It gives businesses something interesting to advertise.
B
There will be less employee resistance if there is a standard philosophy
C
This will reinforce their promises to customers and build the brands.
D
It is less expensive to operate if everyone buys into the same thing
*select an answer for all questions
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