Product and Brand Management Quiz

What is a product?

• A service that is offered for free

• A type of advertisement

• Anything offered to a market for attention or consumption

• A physical item only

Which of the following is NOT a type of consumer product?

• Industrial products

• Specialty products

• Shopping products

• Convenience products

Which of the following is a characteristic of specialty products?

• They have unique characteristics that require special purchase effort

• They are purchased frequently

• They are always low-priced

• They are not known to consumers

What is the first step in the new-product development process?

• Test marketing

• Idea generation

• Concept testing

• Idea screening

What does the term 'test marketing' refer to?

• The final stage of product development

• Testing the product in realistic market settings

• Generating ideas for new products

• Screening product ideas

Which stage of the product life cycle is characterized by slow sales growth?

• Growth

• Introduction

• Decline

• Maturity

What is a line extension?

• Creating a new brand name for a new product category

• Extending existing brand names to new forms or sizes

• Developing a completely new product

• Marketing many different brands in a category

What is the purpose of product support services?

• To increase product prices

• To eliminate competition

• To keep customers happy after the sale

• To reduce marketing costs

What is the main focus of the marketing strategy development stage?

• To generate new product ideas

• To design an initial marketing strategy for the product

• To analyze business costs

• To develop the product concept

What is the decline stage in the product life cycle?

• A period of product development

• A period when sales fall off and profits drop

• A period of slow sales growth

• A period of rapid market acceptance