Unit 2 - Product-Service Management

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What stage in the product life cycle is a company likely in if it focuses on high promotional efforts to create initial awareness?

1 point

Decline

Introduction

Maturity

Growth

Clear selection

During which stage of the product life cycle do sales peak, and the company focuses on maintaining product performance with minimal promotions?

1 point

Introduction

Maturity

Growth

Decline

Clear selection

The phase in the product life cycle where sales decline and the company may consider creating a new model or product to stay profitable is called:

1 point

Growth

Introduction

Maturity

Decline

Clear selection

When a company expands its product mix by introducing a new product line, this is known as:

1 point

Deletion

Expansion

Contraction

Altering

Clear selection

The product mix term referring to the total range of products that a company offers is:

1 point

Length

Width

Depth

Consistency

Clear selection

Which type of brand is created and owned by the manufacturer itself?

1 point

Private brand

Family brand

Manufacturer’s brand

Individual brand

Clear selection

A __________ is a promise expressed in a specific statement about a product's quality and often provided in written form.

1 point

Limited warranty

Full warranty

Express warranty

Implied warranty

Clear selection

In the Six Thinking Hats method, the "Green Hat" perspective focuses on:

1 point

Emotion

Control

Logic

Creativity

Clear selection

What term describes the attribute that measures the level of product quality, often using labels like AA, A, or B?

1 point

Warranty

Standards

Branding

Product labeling

Clear selection

Which of the following refers to an ethical method of assessing consumer feedback by allowing the respondent to answer in their own words?

1 point

Close-ended question

Open-ended question

Leading question

Semantic-differential scale

Clear selection

What type of sampling involves selecting participants who are readily available and convenient to access?

1 point

Stratified random sampling

Snowball sampling

Convenience sampling

Cluster sampling

Clear selection

Which method allows companies to generate new product ideas by viewing a product concept from different perspectives, including logic, emotion, and creativity?

1 point

Brainstorming

Attribute listing

Six Thinking Hats

Forced questioning

Clear selection

Which term is used for the extent to which a company’s product lines are related in terms of use, target market, and production?

1 point

Width

Consistency

Length

Depth

Clear selection

What is a private brand?

1 point

Brand owned by the manufacturer and sold nationally

Brand created by the customer

Brand exclusive to online retailers

Brand owned by the retailer or wholesaler instead of the manufacturer

Clear selection

Deletion from a product mix refers to:

1 point

Altering existing products for seasonal demand

Adding more products to increase sales

Expanding product lines into new markets

Removing a product to make space for new ones

Clear selection

When a customer recognizes and identifies a brand but has no preference, this is called:

1 point

Brand loyalty

Brand recognition

Brand insistence

Brand preference

Clear selection

Introducing new product variations to match trends in the market refers to:

1 point

Contraction

Deletion

Consistency

Altering

Clear selection

Forced questioning as a brainstorming technique involves:

1 point

Creating a set of predefined answers

Asking questions to provoke emotion-driven responses

Repeatedly asking the same question to get new answers

Using various question starters to explore ideas

Clear selection

Which warranty type implies product performance without needing explicit documentation?

1 point

Express warranty

Limited warranty

Implied warranty

Full warranty

Clear selection

The concept where a business markets products to create a specific impression in the customer’s mind is called:

1 point

Personalization

Differentiation

Positioning

Branding

Clear selection

A company decreasing promotional efforts and relying on organic marketing suggests the product is in which life cycle phase?

1 point

Growth

Decline

Maturity

Introduction

Clear selection

The grade "Prime" in food products generally applies to:

1 point

Grains

Fruits

Meat

Dairy

Clear selection

What method focuses on generating solutions by considering the opposite of the problem?

1 point

Reverse brainstorming

Forced questioning

Relay brainstorming

Attribute listing

Clear selection

Six Thinking Hats "Red Hat" is associated with:

1 point

Creativity

Emotion

Logic

Control

Clear selection

A product’s perceived worth to customers based on benefits versus costs is called:

1 point

Customer loyalty

Brand insistence

Perceived value

Market positioning

Clear selection

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