Which of the following statements is true of product/service management:

It involves discovering new-product opportunities.

Why should existing products be monitored?

To make changes to extend a product’s life cycle

Why must care be taken in eliminating weak products?

To prevent damaging a company’s image

Are all products test marketed?

No, it can delay entry into the full market.

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Serving Up Product Review

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Questions 14

Answers

1
Which of the following statements is true of product/service management:
It is only useful for small businesses.
It involves discovering new-product opportunities.
It is only necessary for large businesses.
It involves continuing to sell unsuccessful products.
2
Which of the following controls such new-product considerations as warranties and safety standards:
Product characteristics
Market research studies
Government regulations
Stages in product life cycles
3
Which of the following is a stage of a product’s life cycle:
Maturity
Birth
Adolescence
Death
4
When a competing product that offers additional benefits enters the market, a business’s product may become
technologically beneficial.
more popular.
obsolete.
trendsetting.
5
Why should existing products be monitored?
To evaluate how well a product might fit into a firm’s product mix
To put a marketing plan in place
To make changes to extend a product’s life cycle
To determine the acceptance of a product by a limited market
6
Services that include delivery, instruction, or maintenance are __________ services.
quality
new-product
pure
product-related
7
At what point in the new-product development process does a product’s life cycle begin?
Commercialization
Idea generation
Product development
Test marketing
8
A new car that provides you the benefit of transporting you to work is an example of a
product mix.
service.
good.
brand name.
9
Why must care be taken in eliminating weak products?
To prevent damaging a company’s image
To reduce a company’s market share
To obtain higher product costs
To increase the number of product-related complaints
10
Product/Service management can help decrease
business risk.
profits.
financial success.
sales.
11
Massages, cooking lessons, and Internet connections are examples of
product lines.
private labels.
services.
brand-name products.
12
Product/Service management should be approached from the angle of the
product’s technological benefits.
product itself.
competition’s point of view.
customer’s point of view.
13
Are all products test marketed?
Yes, it guarantees product success.
Yes, it gives an accurate picture of a product’s performance.
No, it is usually an unnecessary step in new-product development.
No, it can delay entry into the full market.
14
A service that is not attached to any tangible good is a __________ service.
new-product
quality
pure
product-related

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