Standard 5 Marketing I Product/Service Development

Question 1

Products are altered at this point of PLC after the introduction

Accepted Answer

Growth

Question 2

Kraft produces many products in various categories. This is an example of

Accepted Answer

Product Width

Question 3

Phase in Product Life Cycle PLC - Most customers own the product

Accepted Answer

Maturity

Question 4

What is a product modification?

Accepted Answer

an alteration in a company’s existing product

Question 5

Differentiating a product from the competitors is a example of

Accepted Answer

Product Positioning

Question 6

Products can be positioned by:

Accepted Answer

features and benefits, compare to competition

Question 7

Public organizations who have not created a presence on Facebook or other social media are?

Accepted Answer

Laggards

Question 8

The people who will try a product with new technology because they are risk takers.

Accepted Answer

Innovators

Question 9

(T or F) Companies only consider their own products when positioning in the market.

Accepted Answer

False

Question 10

Profits drop until they are smaller than costs in this stage of the PLC

Accepted Answer

Decline

Question 11

Refers to the total number of product lines that a company offers to its customers

Accepted Answer

Product Mix

Question 12

The products a business produces separated into different categories

Accepted Answer

Product width

Question 13

QVC network is promoting a tablet that has features that are easy to use. They are targeting:

Accepted Answer

Late Majority

Question 14

What is another strategy used to position products?

Accepted Answer

Price and Quality, Features and Benefits

Question 15

Product lines are expanded (different scents or different flavors) to appeal to other consumers

Accepted Answer

Maturity

Questions 15