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Marketing and Product Development Flashcards | StudBud
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Marketing and Product Development
Marketing and Product Development
18 terms
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StudBud Administration
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Test your knowledge on marketing concepts and product development stages
Flashcards
18 cards
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Practice quiz
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Questions
18
Answers
1
Which stage follows growth in product life cycle?
Decline
Maturity
Development
Introduction
2
Which is NOT an extension strategy?
New uses
Product modification
Product removal
New markets
3
Which is a producer service?
Food
Haircut
Repair
Accounting
4
True or false: Packaging affects product quality perception
True
False
5
Which stage involves testing in a small market?
Analysis
Commercialisation
Development
Test marketing
6
True or false: Boston matrix has 4 categories
True
False
7
What is an extension strategy?
Product modification
Product branding
Product removal
New product
8
True or false: Product life cycle has 4 stages
False
True
9
What is a 'Cash Cow'?
High growth potential
Low growth potential
Low market share
High market share
10
What is the primary source of revenue?
Place
Promotion
Price
Product
11
Which is NOT a product development stage?
Analysis
Commercialisation
Generating ideas
Branding
12
What is the first stage of product life cycle?
Growth
Maturity
Introduction
Development
13
True or false: High-quality products lead to customer loyalty
True
False
14
Which is a Boston matrix category?
Brand
Price
Place
Star
15
What is a 'Dog' in Boston matrix?
Low growth potential
High growth potential
Low market share
High market share
16
What are the 4Ps in marketing?
Product, Price, People, Promotion
Product, Price, Place, People
Product, Price, Place, Promotion
Product, Price, People, Place
17
What is a consumer good?
Machine
Equipment
Tool
Food
18
Which is a benefit of product innovation?
Reduced quality
Decreased revenue
Increased costs
New market opportunities
