3.01 MARKETING Part B: Question Preview (ID: 7574)

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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 sales decline in the growth stage
b) Because marketing strategies are adjusted
c) Because competitors have entered the market
d) Because production is more efficient

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 find new uses for the product
c) To predict the length of the life cycle
d) To adapt its marketing strategies

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

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) Micro-portal
c) Intranet
d) Generator

In what stage of brand loyalty do people become aware of the brand?
a) Recognition
b) Satisfaction
c) Instance
d) Preference

What is a technologically advanced method that allows businesses to produce products that are specialized for a very few customers?
a) Intermittent conversion
b) Automatic production
c) Computerized robotics
d) Mass customization

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) 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 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.

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

Why must all businesses incorporate their values into every aspect of their operations?
a) This will reinforce their promises to customers and build the brands.
b) It is less expensive to operate if everyone buys into the same thing
c) It gives businesses something interesting to advertise.
d) There will be less employee resistance if there is a standard philosophy

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