study guide- chapter 13

study guide- chapter 13 - Business 101 Pre Test 1 The stage...

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Business 101 Pre Test 1. The stage at which a new product idea is subject to either acceptance or rejection by an organization is in the: idea screening stage 2. During which stage of developing a project, is the size of the market and competing products studied in order to examine a product's feasibility? Business analysis. 3. Products which are relatively non-durable, for which consumers have a frequent necessity are classified under: convenience products 4. The profits of a company peaks before declining due to heavy competition from new entrants to the business in the: growth stage. 5. The country in which a product is manufactured could have a more pronounced effect on the: perceived quality 6. Which of the below products is most likely to use a long channel consisting of agents (middlemen), wholesalers and retailers between the producer and the consumer? Convenience products 7. Direct marketing channels, without the presence of any kind of intermediaries applies to which of the following products? Both service and business products 8. Market coverage that involves salespersons, warranties, after sales repairs and other measures to maximize consumer satisfaction is: selective distribution 9. Which of the below factors is not true with regard to publicity? It is informative and persuasive 10. Which of the following promotions refers to a 'pull strategy'? Exclusive advertising To develop meaningful customer relationships, marketers have to develop and manage the dimensions of the market mix to give their firm an advantage over competitors Product refers to goods, services, and ideas Before introducing a new product, a business must :
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o Idea development, o Screening of new ideas o Business analysis o Product development o Test marketing o Commercialization New ideas can come from marketing research, engineers, and outside sources such as advertising agencies and management consultants New products succeed: o Able to meet a need or solve a problem better than products already available o Add variety to the product selection currently on the market Most new product ideas are rejected during screening because they seem inappropriate or impractical Test marketing: trial minilaunch of a product in limited areas that represent the
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study guide- chapter 13 - Business 101 Pre Test 1 The stage...

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