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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 marketing strategies are adjusted
B
Because sales decline in the growth stage
C
Because production is more efficient
D
Because competitors have entered the market
2) Why does a company need to know what stage of the product life cycle its products are in?
A
To adapt its marketing strategies
B
To prevent imitators from entering the market
C
To predict the length of the life cycle
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
Compiling detailed databases
B
Tracking visitors to their web sites
C
Preparing interactive software programs
D
Mailing questionnaires to customers
4) Which of the following technological tools helps a business's employees simultaneously acces the same information about the business's products?
A
Generator
B
Micro-portal
C
Memory card
D
Intranet
5) In what stage of brand loyalty do people become aware of the brand?
A
Satisfaction
B
Recognition
C
Preference
D
Instance
6) What is a technologically advanced method that allows businesses to produce products that are specialized for a very few customers?
A
Automatic production
B
Computerized robotics
C
Mass customization
D
Intermittent conversion
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
Triple the advertising budget for the product
B
Take the product off the market
C
Modify the product to renew customer interest
D
Do nothing; fluctuations in sales are common
8) Why is the quality level of a product an important product/service management decision?
A
It identifies a product's brand
B
It refers to the way the product works.
C
It protects the consumers
D
It reflects the image of the business.
9) Why do companies use brands for their products?
A
To demonstrate creativity
B
To differentiate their products
C
To charge higher prices
D
To encourage materialism
10) Why must all businesses incorporate their values into every aspect of their operations?
A
There will be less employee resistance if there is a standard philosophy
B
It gives businesses something interesting to advertise.
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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