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






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






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






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






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






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






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






8. 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 Becoming outdated because of advances in technology. Becoming outdated due to the introduction of new products - processes - and/or technology.






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






10. A group of related product items.






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






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






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






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






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






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






17. The decision to buy from a certain business.






18. 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






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






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






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






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






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






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






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






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






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






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






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






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






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






32. 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).






33. The decision a customer reaches on the price s/he is willing to pay for a good or service.






34. 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






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






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






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






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






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






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






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






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






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






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






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