Test your basic knowledge |

Product Life Cycle Management

Subject : business-skills
Instructions:
  • Answer 44 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. Small often isolated department/facility that functions with minimum supervision






2. Growth stage






3. The number of products in a firm's product line


4. Drop items from product line






5. The number of product lines a firm has


6. Add new sizes and styles






7. Intro - growth - mature - decline






8. If a firm used name & established over a period of time






9. Entire range of products (all of them!)






10. New products it sell w/brand name (e.g. skyy vodka flavors - coke->diet coke-> etc. - ben & jerry's forzen yogurt)






11. Add new higher end items






12. Add new lower end items






13. Agreement between 2 brands to work together to make new product






14. Downward - upward - two-way






15. Person responsible for developing & implementing marketing plan for single brand






16. Legal term for bran name/mark - or trade character






17. Beliefs & associations consumer has about brand






18. Creates a link with past self (e.g. vintage t-shirts)






19. Market all items under same brand name






20. Product is part of user's daily routing (e.g. starbucks coffee)






21. Separate unique brand for each product






22. Different managers focus on specific customer groups rather than on products (note: helpful when you have variety of products)






23. Add new items to line






24. Brands certain retailer/distributor owns & sells (e.g. kirkland = costco)






25. Focus on new product development






26. Add higher and lower end items






27. When product helps establish user's identity (e.g. feel better in certain brand of clothing)






28. Mature stage






29. Fit to target market - product benefits - customer culture - legal requirements






30. Branded materials become component parts of other branded products (e.g. i7 - i5 processors)






31. 1) consider other brands in same category of packaging 2) consider packaging material 3) consider environmental impact of package 4) shape? 5) what graphic info should it show?






32. Fewer product varieties (e.g. Rolls Royce)






33. Variety of products - targets many customer segments to boost sales potential






34. One firm sells another firm the right to use legally protected brand name for specific purpose & specific period of time






35. Brands that product manufacturer owns






36. Brand's value over generic brand






37. Easy to say - spell - read - remember






38. Name - term - symbol - other unique element of product that identifies firm's products & separates them from competition






39. Covering/container for products






40. Coordinate mix of product lines within more general product category & who considers new product lines based on client needs






41. Elicits emotion bond of warmth & passion (e.g. hershey's kiss)






42. When new item eats up sales of existing brand a firm has (e.g. diet coke plus - like diet coke but with vitamins...wtf?)






43. Products not branded & is sold at lowest price possible






44. Stretching - filling - contracting