Vocabulary Quiz

What does the term "Investigate" mean?

• Plan, inquire into and draw conclusions about

• Support an argument or conclusion

• Suggest what may happen based on available information

• Putting together various elements to make a whole

What are the three different types of food product development mentioned in the text?

• New to the world, Line extensions, Me-too products

• New to the world, Brand extensions, Me-too products

• New to the world, Line extensions, Copycat products

• New to the world, Brand extensions, Copycat products

Why can large food manufacturers make a range of different food products?

• They have more money for research and development

• They have fewer competitors

• They have better marketing strategies

• They have more employees

What does the term 'multinationals' refer to in the context of the text?

• Large companies operating in multiple countries

• Small local businesses

• Companies that only sell one type of product

• Companies that do not invest in research and development

What is an example of a 'line extension' according to the text?

• Creating a new biscuit entirely

• Using an established product’s brand name for a new item in the same product category

• Launching a completely new product line

• Rebranding an old product

What is 'market share' and why is it important for companies?

• The portion of a market controlled by a particular company, important for growth and profitability

• The total sales of a company, important for revenue

• The number of employees in a company, important for productivity

• The number of products a company sells, important for inventory management

Which year was Arnott's TeeVee Snacks first developed?

• 2019

• 1964

• 1991

• 1954

Which year was Arnott's Tim Tam first developed?

• 2019

• 1964

• 1991

• 1954

What is a line extension in the context of company profitability?

• Developing a new product outside the usual product category

• Using an established brand name for a new product or product category

• A smart way for a company to increase profitability without changing production facilities greatly

• A collaboration between two unrelated brands

What is a brand extension?

• Developing a new product outside the usual product category

• Using an established brand name for a new product or product category

• A smart way for a company to increase profitability without changing production facilities greatly

• A collaboration between two unrelated brands