Product and Price Strategy Quiz

What is the main purpose of marketing related to product strategy?

• Increase production speed

• Meet customer needs while achieving business goals

• Reduce manufacturing costs

• Focus only on advertising

Which of the following is NOT one of the three product levels?

• Core product

• Actual product

• Augmented product

• Promotional product

Market segmentation by age, gender, and income is called:

• Behavioral segmentation

• Geographic segmentation

• Demographic segmentation

• Psychographic segmentation

What is a Unique Selling Proposition (USP)?

• A) A universal sales plan

• B) What makes a product unique and different

• C) A pricing strategy

• D) A customer service policy

Packaging serves all the following functions EXCEPT:

• A) Product protection

• B) Brand communication

• C) Increasing production speed

• D) Providing product information

What is the first stage of the product life cycle?

• Growth

• Introduction

• Maturity

• Decline

Which of the following is an example of product differentiation?

• Lowering prices

• Offering better quality or unique features

• Reducing advertising

• Increasing production volume

What does line filling mean?

• Adding products to fill gaps in a product line

• Removing products from the line

• Stretching the product line into new markets

• Redesigning product packaging

Which is NOT a type of market segmentation?

• Demographic

• Psychological

• Behavioral

• Geographic

Digital innovation in products includes:

• Smart technology integration

• Traditional packaging

• Manual quality checks

• Printed flyers