What are the two ways that a company can obtain new products?

New-product development and acquisition.

A good brand name should:

Be distinctive and easy to remember

What is price in Marketing?

is the amount of money charged for a product or service

Executives, manufacturing employees, and salespeople are all examples of

Internal sources for new-product ideas

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IBSIMSCLASS 2020

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Questions 20

Answers

1
In marketing theory, P.L.C. stands for:
Product life cycle
Price list classification
Production life cycle
Promotional life cycle
2
Which of the following is not an element of a firm's marketing mix?
Product
Place of delivery
People
Price
3
Which of the following was designated to foster trade between nationsn?
EU
GATT
NAFTA
WTO
4
New product development starts with:
idea screening
idea generation
concept development
concept testing
5
The third level of a product that product planners must consider is a(n)
Actual product
Core product
Brand equity
Augmented product
6
Companies usually develop ________ rather than single products?
Product groupings
Product families
Product brands
Product lines
7
What is the meaning of BOGOF in Pricing
standardization and adaptation price
Using marketing mix
Buy One Get One Free
Valued added price
8
New product development starts with ....................
Idea generation
Concept development
Concept testing
Idea screening
9
Product improvements, product modifications, and original products can all be classified as____________
Product ideas
New products
Product concepts
Pioneer products
10
What are the two ways that a company can obtain new products?
Internal development and brand management
New-product development and acquisition.
Line extension and brand management.
Internal development and brand management.
11
________ are consumer products with a unique characteristics or brand identification
Shopping products
Specialty products
Unsought products
Industrial products
12
_______marketing is more suited for uniform products such as grapefruits or steel
Micro marketing
Undefferentiated marketing
Niche Marketing
Segmented marketing
13
A good brand name should:
Sound like an animal or natural phenomenon
Include the company’s name
Be distinctive and easy to remember
Relate to the latest technology
14
A ……………………. is unpredictable, short-lived, and without social, economic, and political significance.
Trend
Fashion
Style
Fad
15
What is price in Marketing?
Price is use to demand value
Satisfying consumer demand
The only marketing mix satisfy consumer want and need
is the amount of money charged for a product or service
16
Executives, manufacturing employees, and salespeople are all examples of
Core members of innovation management systems
Internal sources for new-product ideas
Research and development team members.
External sources for new-product ideas.
17
A good brand name should:
relate to technology
Sound like natural phenomenon
include the company's name
be distinctive
18
Economic communities are also known as
Free schengen area
Free logistic and tranportation
Free customs area
Free trade zones
19
___ pricing is the approach of setting a low price to attract a large number of buyers quickly and win market share
Penetration price
value base price
Below-market price
Market-skimming price
20
Which of the following is NOT a potential reason for a new product to fail?
A poorly designed product
An underestimated market size
Higher than anticipated costs of product development.
An incorrectly positioned product.

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