1. The marketing mix is often known as the 3Ps. True or false?

True

False

2. Firms rarely compete on the basis of their products’ physical features alone. True or false?

True

False

3. Capital goods are usually classified as consumer products. True or false?

True

False

4. Most new products are commercial failures. True or false?

True

False

5. The product life cycle is widely used as it is a precise and reliable sales forecasting tool. True or false?

True

False

6. What is the general term for products that have a physical form (i.e. you can touch them)?

1. services
2. goods
3. FMCG
4. components
5. raw materials

7. What is the core product or benefit of a winter coat?

1. the material it is made of
2. its cost
3. the employment its manufacture provides
4. the warmth it provides
5. the brand

8. Where does after-sales service fit into the total product offering?

1. core product
2. core benefit
3. basic product
4. augmented product
5. perceived product

9. Where does brand image fit into the total product offering?

1. core product
2. core benefit
3. basic product
4. augmented product
5. perceived product

10. Which of the following could be classed as a durable good?

1. washing machine
2. T-shirt
3. chocolate bar
4. shampoo
5. consultancy

11. What is a staple product?

1. office stationery
2. a complementary product
3. something that is essential for another product to work (e.g. a keyboard for a PC)
4. something people always like to have and so purchase regularly (e.g. soap)
5. a basic, unsophisticated product (e.g. paper clips)

12. Mary is getting married and she wants everything on the day to be perfect, especially the dress. What kind of product is a wedding dress?

1. speciality
2. convenience
3. white goods
4. accessory
5. consumer-durable

13. Coca-Cola has an easily identified logo (its name written in a flowing script) and is usually packaged in a red can or its famously curvy bottle. What do these elements combine to form?

1. brand image
2. brand personality
3. brand identity
4. brand values
5. brand equity

14. A retailer decides to launch its own version of Marmite. What kind of new product is this?

1. innovative
2. replacement
3. variant
4. me-too
5. re-launched

15. Teatimes Ltd. are famous for their speciality teas. They are about to introduce two new teas based on their best-selling English Breakfast blend: Welsh Afternoon tea and Scottish Nightcap tea. What kind of new products are these?

1. innovative
2. replacement
3. variant
4. me-too
5. re-launched

16. What is the final stage of the new product development process?

1. business analysis
2. test marketing
3. idea generation
4. marketing planning
5. product launch

17. Visto is a much loved British drink, widely available in the UK but nowhere else. Lately sales have been falling and the big supermarkets have cut back on their orders. Which of the following is most likely to be a successful extension strategy for this well-established drink?

1. increasing the price
2. selling it online
3. exporting it to other countries
4. offering the supermarkets special deals as incentives to stock it
5. advertising it on the Internet

18. What are the axes on the Boston Consulting Group (BCG) matrix labelled?

1. market share and market size
2. market price and quantity demanded
3. market attractiveness and market share
4. historical market growth and current share
5. relative market share and market growth rate

19. The market for organic fruit is booming as more and more people try to follow a healthier lifestyle. The Green Apple Company is the UK market leader and able to command high prices for its excellent products, especially locally grown strawberries. Where are the strawberries most likely to be placed on the Boston Consulting Group (BCG) matrix?

1. star
2. cash cow
3. problem child
4. question mark
5. dog

20. According to the GE McKinsey matrix, the best strategy for a product in a strong competitive position in a highly attractive market would be to do what?

1. harvest
2. divest
3. invest for growth
4. re-position
5. push

21. The 4Ps are product, promotion, place and ______.

22. The total package that makes up and surrounds a product including all supporting features such as branding, packaging, servicing and warranties is known as the total ______ offering.

23. Few companies sell just one product; some sell thousands. Their products are collectively referred to as their product ______.

24. FMCG stands for ______ consumer goods.

25. Truly new products, usually the result of a technological breakthrough such as the invention of laser surgery, are known as ______ products.