Test your basic knowledge |

Product And Service Management

Subject : business-skills
Instructions:
  • Answer 45 questions in 15 minutes.
  • If you are not ready to take this test, you can study here.
  • Match each statement with the correct term.
  • Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.

This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. The decision a customer reaches on the price s/he is willing to pay for a good or service.






2. Under one product how many sub-products company provides or how many varieties company have for that product






3. A framework for the promotional activities of a business.






4. The decision to buy from a certain business.






5. Criteria for determining a product's ability to meet specified guidelines or requirements.






6. A group of related product items.






7. The particular assortment of products that a business offers in order to meet the needs of its markets and its company goals.






8. Services that are offered with a product such as maintenance - delivery - or repair.






9. A name - term - symbol - or design (or combination of them) that identifies a product and distinguishes it from competitors products.






10. A type of rivalry between or among businesses that focuses on the use of price to attract scarce customer dollars.






11. The act of communicating information about products - services - images - or ideas tocustomers or clients.






12. A career that involves monitoring and developing one or more existing products.






13. Marketing element referring to selection of the various types of communications that marketers use to inform - persuade - or remind customers of their products.






14. The product life cycle stage in which sales peak and then increase at a slower rate or start to decline






15. A strategy for making a product appear different from similar products on the market.






16. The producer's responsibility for any injury that the business's products may cause.






17. Marketing element focusing on considerations in getting a selected product in the right place at the right time






18. The particular assortment of goods and services that a business offers to meet the needs of its market(s) and its company goals.






19. The stages through which goods and services move from the time they are introduced on the market until they are taken off the market.






20. Marketing element focusing on considerations in getting a selected product in the right place at the right time.






21. In a sponsorship agreement - the sponsor's privilege of having its goods or services used at the event.






22. The product life cycle stage in which sales rise rapidly






23. A marketing function that involves obtaining - developing - maintaining - and improving a product or service mix in response to market opportunities.






24. Government restrictions on the minimum and/or maximum prices of certain products






25. The removal of a weak product from the market and from the company's product mix - also known as product discontinuation.






26. A marketing function needed to communicate information about goods - services - images - and/or ideas to achieve a desired outcome. Marketing element referring to the various types of communications that marketers use to inform - persuade - or remind






27. A combination - or blend - of marketing communication channels that a business uses to send its messages to consumers (i.e. - advertising - sales promotion - personal selling - and publicity).






28. A guideline regulating the range of prices for goods and services that businesses offer to customers.






29. A guideline affecting the kinds of special activities - such as contests and prizes - that businesses use to attract customers and to increase sales.






30. Marketing element referring to what goods - services - or ideas a business will offer its customers.






31. The efforts involved in the creation of a new product. The stage in the creation of a new product in which a working model may be tested - modified - and retested; production costs are estimated and final details of the product are planned - e.g. - l






32. A pricing strategy that involves setting prices higher than those of the competition.






33. The ways in which businesses handle - or manage - their product mixes.






34. Goals a company hopes to accomplish through its pricing strategies.






35. The product life cycle stage in which sales and profits fall rapidly.






36. The removal from the marketplace of a product that is defective or hazardous to consumers.






37. The product life cycle stage when the product first appears in the marketplace.






38. Each individual good - service - or idea that a business offers for sale.






39. The decision a customer makes on the brand - type - model - etc. - to buy.






40. A description of the depth of a business's product mix offering a great many items in the product line.






41. An individual who monitors one or more existing products and develops new Products






42. The state of being outmoded or unfashionable. Becoming outdated because of advances in technology. Becoming outdated due to the introduction of new products - processes - and/or technology.






43. A product mix dimension referring to the number of product lines carried by a company.






44. A guideline affecting the kinds of goods and services that businesses offer to customers.






45. A marketing function that involves the determining and adjusting of prices to maximize return and meet customers' perceptions of value.