2.01_PM17 H. Marketing Review Question Preview (ID: 60551)

Part A. TEACHERS: click here for quick copy question ID numbers.

Costs and available resources are especially important factors for product/service managers to examine during which phase of product/service management?
a) Elimination of weak products
b) Idea generation
c) New-product development
d) Monitoring of existing products

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 life cycles
c) Market research
d) Product monitoring

Product/Service management should be approached from the angle of the
a) product’s technological benefits.
b) customer’s point of view.
c) product itself.
d) competition’s point of view.

Which of the following statements is true of product/service management:
a) It is only useful for small businesses.
b) It involves discovering new-product opportunities.
c) It is only necessary for large businesses.
d) It involves continuing to sell unsuccessful products.

A service that is not attached to any tangible good is known as a __________ service.
a) pure
b) new-product
c) quality
d) product-related

Services that include delivery, instruction, or maintenance are referred to as __________ services.
a) pure
b) new-product
c) quality
d) product-related

A new car that provides you the benefit of transporting you to work is known as a(n)
a) service.
b) good.
c) product mix.
d) brand name.

Massages, cooking lessons, and Internet connections are known as
a) services.
b) brand-name products.
c) product lines.
d) private labels.

Product/Service management is a marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to
a) competitors only.
b) government oversight.
c) market opportunities.
d) CEO wishes.

When a competing product that offers additional benefits enters the market, a business’s product may become
a) more popular.
b) obsolete.
c) trendsetting.
d) technologically beneficial.

Which of the following controls such new-product considerations as warranties and safety standards:
a) Government regulations
b) Product characteristics
c) Stages in product life cycles
d) Market research studies

Which of the following is a stage of a product’s life cycle:
a) Birth
b) Adolescence
c) Maturity
d) Death

Product/Service management can help to decrease
a) profits.
b) ales.
c) financial success.
d) business risk.

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) project management.
b) licensing.
c) idea screening.
d) positioning.

What is the first day of Thanksgiving break this year?
a) Monday
b) Tuesday
c) Wednesday
d) Thursday

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