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Marketing

Marketing . 3.01. 1. 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?. Take the product off the market

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Marketing

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  1. Marketing 3.01

  2. 1. 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? • Take the product off the market • Do nothing; fluctuations in sales are common • Modify the product to renew customer interest • Triple the advertising budget for the product 30

  3. 2. Why is the quality level of a product an important product/service management decision? • It identifies a product’s brand • It reflects the image of the business • It protects the consumers • It refers to the way the product works 30

  4. 3. Which activity is addressed in the product/service management function? • Setting discounts to clear products from inventory • Determining where products will be offered for sale • Focusing promotional activities on a new-product release • Eliminating products that are slow sellers 30

  5. 4. Which of the following is a way that a business can extend the life cycle of an established product? • By promoting the product to current users • By finding new uses for the product • By restricting distribution • By attracting consumers who are innovators 30

  6. 5. Why does a company need to know what stage of the product life cycle its products are in? • To prevent imitators from entering the market • To find new uses for the product • To predict the length of the life cycle • To adapt its marketing strategies 30

  7. Participant Scores

  8. 6. Why might profits sometimes decline for the company that first introduced the product during the growth stage of a product’s life cycle? • Because sales decline in the growth stage • Because marketing strategies are adjusted • Because competitors have entered the market • Because production is more efficient 30

  9. 7. What is a technologically advanced method that allows businesses to produce products that are specialized for a very few customers? • Intermittent conversion • Automatic production • Computerized robotics • Mass customization 30

  10. 8. What is one way businesses use computer technology to obtain information to improve their product/service mix? • Mailing questionnaires to customers • Tracking visitors to their web sites • Compiling detailed databases • Preparing interactive software programs 30

  11. 9. Which of the following technological tools helps a business’s employees simultaneously access the same information about the business’s products? • Memory card • Micro-portal • Intranet • Generator 30

  12. 10. What is an example of an ethical issue that a product/service manager might face? • Use of color on the label • Use of environmentally friendly packaging • Use of packaging as a means of promotion • Use of nutrition information on a food label 30

  13. 11. Which of the following is an unethical situation in product/service management? • Vincent Electronics discontinues production of a slow-moving solar calculator. • Travis Manufacturing uses recycled materials for its product packaging. • Donna’s Dress Boutique obtains deep discounts from a new clothing designer. • The Simpson Company embellishes (lie about) the information that it places on its product labels. 30

  14. Participant Scores

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