Marketing PSM (1)

Front

What is the primary goal of product/service management?

Back

To meet customer needs and wants

Answer explanation

The goal is to meet customer needs and wants effectively.

Front

Which of the following is an example of a product mix? A car dealership offering sedans, SUVs, and trucks, A grocery store stocking only one type of bread, A clothing brand selling the same T-shirt design in different colors, A coffee shop adding a new pastry to its menu

Back

A car dealership offering sedans, SUVs, and trucks

Answer explanation

A product mix includes various product lines offered by a company.

Front

What does product positioning aim to achieve?

Back

Differentiate the product in the customer’s mind

Answer explanation

Product positioning differentiates the product in the customer’s mind.

Front

Which stage of the product life cycle is characterized by high sales and strong competition? Options: Introduction, Growth, Maturity, Decline

Back

Maturity

Answer explanation

The maturity stage features high sales and strong competition.

Front

What is a product line?

Back

A range of related products offered by a business.

Answer explanation

A product line is a range of related products a business offers.

Front

Which of the following is a benefit of branding? Reducing advertising costs, Increasing brand loyalty, Eliminating customer complaints, Avoiding legal issues

Back

Increasing brand loyalty

Answer explanation

Branding fosters loyalty and recognition among customers.

Front

What is the purpose of warranties?

Back

To provide assurance about product quality

Answer explanation

Warranties assure customers of product quality.

Front

What is product bundling?

Back

Selling related products together as a package.

Answer explanation

Product bundling offers multiple related products as a package.

Front

What is the primary focus during the growth stage of a product's life cycle?

Back

Maximizing profits

Answer explanation

Maximizing profits is the focus during the growth stage.

Front

What is product depth?

Back

The number of variations within a single product line.

Answer explanation

Product depth refers to the number of variations within a product line.