Product Service Management Question Preview (ID: 35711)
This Review Includes The Following NC Standards Related To Product Service Management.
3.01
3.03
3.04
2.06
2.07.
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What is a technologically advanced method that allows businesses to produce products that are specialized for a very few customers?
a) Computerized robotics
b) Automatic production
c) Intermittent conversion
d) Mass customization
Which of the following is an unethical situation in product/service management?
a) Vincent Electronics discontinues production of a slow-moving solar calculator
b) Travis Manufacturing uses recycled materials for its product packaging.
c) Donna's Dress Boutique obtains deep discounts from a new clothing designer.
d) The Simpson Company embellishes the information that it places on its product labels
Which of the following technological tools helps a business's employees simultaneously access the same information about the business's products?
a) Generator
b) Micro-Portal
c) Intranet
d) Memory card
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 to use in this situation?
a) Take the product off the market
b) Do nothing; fluctuations in sales are common
c) Modify the product to renew customer interest
d) Triple the advertising budget for the product
Why does a company need to know what stage of the product life cycle its products are in?
a) To prevent imitators from entering the market
b) To adapt its marketing strategies
c) To predict the length of the life cycle
d) To find new uses of the product
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) Compiling detailed databases
d) Preparing interactive software programs
Why is the quality level of a product an important product/service management decision?
a) It identifies a product's brand.
b) It reflects the image of the business.
c) It protects the consumers.
d) It refers to the way the product works.
A business is behaving unethically if its product's label contains
a) nutritional values
b) recyclable materials
c) mandatory requirements
d) misleading information
Why might profits sometimes decline for the company that first introduced the product during the growth stage of a product's life cycle?
a) Because sales decline in the growth stage
b) Because marketing strategies are adjusted
c) Because competitors have entered the market
d) All of the above.
Harrison Stroller Company manufactures baby strollers. The business launched a new stroller line in hopes of increasing its market share. The new model featured neon, plastic, musical toys on the front bar of the stroller. By the middle of the first
a) Consumer protection
b) Product deletion
c) Product liability
d) Consumer Product Safety Act
Which of the following is a reason that a business would make changes to its products?
a) keep up with consumers changing preferences.
b) To spread risk over a wider area
c) To make room for other products
d) To predict the success of the changed product
Why would a business use a broad product mix?
a) To assure that the product lines are related
b) To relate the product to the target market
c) To promote one-stop shopping
d) To decrease legal liabilities
A company advertises that its products are durable lightweight, and come in a variety of colors. What strategy is the company using to position its product?
a) Price and quality
b) Relationship to other products
c) Unique characteristics
d) Features and benefits
Company XYZ sells condensed soups and promotes them by saying, Great taste, great price. Company XYZ is positioning its product according to what strategy?
a) Price and quality
b) Relationship to other products
c) Unique characteristics
d) Features and benefits
A drawback of brands as compared to unbranded products is that they usually
a) differentiate products
b) must be sold at higher prices.
c) require trademark registration
d) create brand loyalty
A business that says it tries harder because its product is not number one, is using product positioning to
a) motivate
b) organize
c) compete
d) upgrade
Why do companies use brands for their products?
a) To differentiate their products
b) To charge higher prices
c) To encourage materialism
d) To demonstrate creativity
In what stage of brand loyalty do people become aware of the brand?
a) Recognition
b) Satisfaction
c) Insistence
d) Preference
A company that makes ink pens claims no other pen on the market uses a type of ink that changes color when exposed to light. The company is positioning its product according to what strategy?
a) Price and quality
b) Relation to other products in a line
c) Features and benefits
d) Unique characteristics
Brand or trade names are used primarily to identify a
a) market
b) standard
c) product
d) trend
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