Product- Chapter 8&9
Product Knowledge Quiz
Test your understanding of product development and marketing concepts through this engaging quiz! Dive into topics like product classification, market testing, and customer insights.
- 16 thought-provoking questions
- Multiple choice format
- Perfect for students and professionals alike
Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need is called
Demand
Idea
Product
Service
This company is well known for Technology innovation, Great Value and act as a game changer.
Nokia
Apple
HTC
Samsung
.................buy products & ....................... Use product
Consumer & Customers
Customers & Consumer
Buyers & Sellers
Buyers & Customers
...................means the classification of standardized product into certain well-defined classes or groups.
Gradation
Segmentation
Standardization
Specification
..............is establishment of certain standards or specifications for products. It may involve Quality (color, taste, appearance, sweetness, purity)& Quantity (weight, size, legth etc)
Product Development
Gradation
Standardization
Product Control
.................... Reflects the sum of perceived tangible & intangible benefits & costs to customers.
Customer Satisfaction
Customer Value
Customer Delight
None of the above
In marketing, the term product:
Refers only to tangible items that can be seen, tested, or touched
Is a broad concept that refers to anything that can be offered for use and consumption, in exchange for money or some other form of value
Is limited in meaning to goods, services, and ideas only
Neve refers to such things as package design, brand name or warranty
Testing before launching a product is know as............
Acid test
Concept testing
Market test
Test marketing
Launching a product in a small part of the market is called:
Commercialization
Competitive analysis
Competitive response
Test marketing
Original products, product improvements, product modifications, and new brands that a firm develops through its own research and development efforts are called:
Altered products
Concept products
New Products
Supplemental products
Presenting new product ideas to consumers in symbolic or physical ways to measure their reactions occurs during which of the following stages:
Concept testing
Idea generation
Marketing strategy
Screening
The systematic search for new-product ideas is characteristic of which stage in the new product development process?
Business analysis
Concept development and testing
Idea generation
Idea screening
Company can create successful new products by
Understanding consumers, markets & competitors
Developing products that deliver superior value to customers
Developing a great advertising campaign
Both a & b
What are the two ways that a company can obtain new products?
Internal development and merger
Line extension and brand management service
New product development and acquisition
Acquisition and merger
Highest percentage of ideas for new products originated with/from which of the following sources?
Competitors
Customers
Employees
Top management
Which of the following are the people who purchase new products almost as soon as the products reach the market?
Early majority
Innovators
Late adopters
Late majority
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