IB Business And Management Marketing 4.3 Product

60 Questions | Total Attempts: 172

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Marketing Management Quizzes & Trivia

Questions and Answers
  • 1. 
    The term 'products' refers to physical (i.e. tangible) goods rather than services.
    • A. 

      True

    • B. 

      False

  • 2. 
    Most of the new products launched by well-known multinationals are successful.
    • A. 

      True

    • B. 

      False

  • 3. 
    Rapid changes in technology and fashion trends have shortened the life cycles of products in certain industries.
    • A. 

      True

    • B. 

      False

  • 4. 
    ​Brands are more likely to succeed than fail. 
    • A. 

      True

    • B. 

      False

  • 5. 
    Brand leaders are the most popular brands in the view of the public.
    • A. 

      True

    • B. 

      False

  • 6. 
    M&M's chocolates are made by Mars. M&M's is therefore a brand label of the Mars company.
    • A. 

      True

    • B. 

      False

  • 7. 
    Products that have a low market share in a high growth market are known as 'problem childs'.
    • A. 

      True

    • B. 

      False

  • 8. 
    The Boston matrix can be used to assess the portfolio of strategic business units for a company. 
    • A. 

      True

    • B. 

      False

  • 9. 
    Assuming that stars, in the Boston Matrix, maintain their relative market share they will eventually become cash cows.
    • A. 

      True

    • B. 

      False

  • 10. 
    The Boston Matrix could be useful for a business trying to manage a diverse range of products in its portfolio.
    • A. 

      True

    • B. 

      False

  • 11. 
    Product portfolio management is the responsibility of all managers in an organisation.
    • A. 

      True

    • B. 

      False

  • 12. 
    What is the name given to the category of products in the Boston Matrix that has high or rising market share within a growing market? _________
  • 13. 
    Portfolio management is not used to achieve which goal?
    • A. 

      Maximise the profitability of the portfolio

    • B. 

      Provide balance in a firm's portfolio

    • C. 

      Determine customer perceptions of the portfolio

    • D. 

      Support the corporate strategy

  • 14. 
    Products that have suffered from relatively inferior marketing or product quality are known as:
    • A. 

      Problem children

    • B. 

      Dogs

    • C. 

      Cash cows

    • D. 

      Stars

  • 15. 
    According to the Boston Matrix, a firm that has too many _________ will suffer from poor ___________.
    • A. 

      Problem children, cash flow

    • B. 

      Stars, cash flow

    • C. 

      Dogs, profit

    • D. 

      Problem children, profit

  • 16. 
    Products that are sold from one business to another to further the production process are known as:
    • A. 

      Durable goods

    • B. 

      Perishable goods

    • C. 

      Capital goods

    • D. 

      Consumer goods

  • 17. 
    Non-durable products, such as fresh ice cream, are also known as:
    • A. 

      Consumer products

    • B. 

      Convenience products

    • C. 

      Perishables

    • D. 

      Speciality goods

  • 18. 
    A brand can not be represented by which of the following?
    • A. 

      A symbol

    • B. 

      A logo

    • C. 

      Packaging

    • D. 

      A product

  • 19. 
    Pre-launch activities do NOT include:
    • A. 

      Generating ideas

    • B. 

      Market research

    • C. 

      Perception mapping

    • D. 

      Test marketing

  • 20. 
    A group or variety of products that serves the same purpose in a particular market is known as a:
    • A. 

      Product line

    • B. 

      Product mix

    • C. 

      Product range

    • D. 

      Product portfolio

  • 21. 
    MacDonald's variety of value meals is an example of:
    • A. 

      Product line

    • B. 

      Product mix

    • C. 

      Product range

    • D. 

      Product portfolio

  • 22. 
    The marketing strategy used to give products a unique aspect so that customers can distinguish between the product and those offered by other firms is known as:
    • A. 

      Product orientation

    • B. 

      Product differentiation

    • C. 

      Unique selling point

    • D. 

      Product range

  • 23. 
    Possible strategies used to reverse the decline in slaes of a product do NOT include:
    • A. 

      Expanding into new overseas markets

    • B. 

      Increasing prices to improve the image of a product

    • C. 

      Increased use of promotional strategies

    • D. 

      Additional features added to the product, such as special or limited editions

  • 24. 
    Which of the following is a possible reason for an increase in the sales of a product?
    • A. 

      Newer and better alternatives become available on the market

    • B. 

      A smaller channel of distribution

    • C. 

      Lower prices for products with few substitutes

    • D. 

      Redesigned packaging to increase the emotional value of a product

  • 25. 
    Which of the following is NOT an extension strategy?
    • A. 

      Reducing prices to attract more customers

    • B. 

      Advertising used to remind and entice customers to make a purchase

    • C. 

      Producing new products to sell in overseas markets

    • D. 

      Exporting to overseas markets

  • 26. 
    Which feature does NOT necessarily apply to fast-moving consumer goods (FMCGs)?
    • A. 

      Products that sell in high volumes

    • B. 

      Products that have low profit margins

    • C. 

      Rely on customer repurchase

    • D. 

      Products that are not durable

  • 27. 
    Brand image is the __________ that customers have about a particular brand. A strong brand image will lead to _________ product differentiation.
    • A. 

      Culture, decreased

    • B. 

      Culture, increased

    • C. 

      Perception, increased

    • D. 

      Perception, decreased

  • 28. 
    Which of the following is NOT part of new product development?
    • A. 

      Test marketing

    • B. 

      Research and development

    • C. 

      Market research

    • D. 

      Extension strategies

  • 29. 
    Which of the items below is unlikely to be considered as a HIP (high involvement product)? 
    • A. 

      Private boarding school education

    • B. 

      Family holiday to both America and Canada

    • C. 

      Vintage wine

    • D. 

      Birthday cards

  • 30. 
    The technique of using an existing brand name to launch a new or modified product is known as:
    • A. 

      Brand extension

    • B. 

      Branding

    • C. 

      Repositioning

    • D. 

      Differentiation

  • 31. 
    Which of the following would most likely be classified as a perishable consumer product?
    • A. 

      Motor vehicle

    • B. 

      Fridge freezer

    • C. 

      Fresh food

    • D. 

      Toys

  • 32. 
    The strategy of using a well-established trade mark to develop and sell new products is called:
    • A. 

      Brand loyalty

    • B. 

      Brand extension

    • C. 

      Product differentiation

    • D. 

      Extension strategy

  • 33. 
    The stage in a product's life cycle that requires significant investment yet will often incur losses is known as:
    • A. 

      Launch

    • B. 

      Growth

    • C. 

      Saturation

    • D. 

      Decline

  • 34. 
    The objective of new product development is LEAST likely to include:
    • A. 

      To increase sales turnover

    • B. 

      To increase market share

    • C. 

      To gain a competitive edge

    • D. 

      To raise brand awareness

  • 35. 
    Products that have a high market share in a high growth market are known as:
    • A. 

      Stars

    • B. 

      Cash cows

    • C. 

      Dogs

    • D. 

      Problem children

  • 36. 
    Products that have a high market share in a low growth market are known as :
    • A. 

      Dogs

    • B. 

      Cash cows

    • C. 

      Stars

    • D. 

      Problem children

  • 37. 
    The opposite of 'early adopters' are purchasers in which stage of a product's life cycle?
    • A. 

      Maturity

    • B. 

      R&D

    • C. 

      Growth

    • D. 

      Launch

  • 38. 
    'Decline' is:
    • A. 

      The last stage of a product's life cycle

    • B. 

      A fall in the output of an economy

    • C. 

      A fall in sales revenue

    • D. 

      When sales fall faster than the costs of production

  • 39. 
    Convenience goods that are sold in retail outlets on a daily basis are known as:
    • A. 

      White goods

    • B. 

      Fast-moving consumer goods

    • C. 

      Soft goods

    • D. 

      High involvement products

  • 40. 
    The term used to describe a variety of the same product that a business produces is the:
    • A. 

      Product mix

    • B. 

      Product portfolio

    • C. 

      Product line

    • D. 

      Product range

  • 41. 
    Products that require little thought, effort and expense are known as:
    • A. 

      Consumer goods

    • B. 

      Durable goods

    • C. 

      Convenience goods

    • D. 

      Shopping goods

  • 42. 
    Which of the following activities does NOT take place during the research and development stage of a product life cycle?
    • A. 

      Market research

    • B. 

      Monitoring of competitors

    • C. 

      Test marketing

    • D. 

      Publicity

  • 43. 
    Features of the 'launch' stage of a product's life cycle exclude:
    • A. 

      Low sales volume

    • B. 

      Extensive promotion and advertising

    • C. 

      Negative cash flow for most products

    • D. 

      Market research

  • 44. 
    Which statement does NOT refer to a role or function of branding?
    • A. 

      It gives a unique character or association to a product

    • B. 

      It encourages repeat custom and customer loyalty

    • C. 

      It allows firms to charge above average prices

    • D. 

      It allows firms to charge lower prices to attract more sales

  • 45. 
    What is the name given to a product that has the largest market share in a particular industry?
    • A. 

      Brand leader

    • B. 

      Brand loyalty

    • C. 

      Brand

    • D. 

      Brand development

  • 46. 
    Brands such as Tiffany, Gucci and BMW are perceived as being high in quality and high in price. These brands are therefore known as:
    • A. 

      Economy brands

    • B. 

      Premium brands

    • C. 

      Value brands

    • D. 

      Cowboy brands

  • 47. 
    Which of the following is an example of an own-label brand?
    • A. 

      Rolex watch

    • B. 

      Wal-Mart white wine

    • C. 

      Samsung Galaxy cell phone

    • D. 

      Doritos corn chip

  • 48. 
    The strategy of using a unified brand name, in order to build customer loyalty and trust, for a range of products offered by a firm is known as:
    • A. 

      Family branding

    • B. 

      Corporate branding

    • C. 

      Own-label branding

    • D. 

      Manufacturer's branding

  • 49. 
    Which type of branding can benefit from economies of scope in advertising?
    • A. 

      Individual

    • B. 

      Umbrella

    • C. 

      Corporate

    • D. 

      Own-label

  • 50. 
    When customers are reluctant to switch away from purchasing their favourite brand of a particular product, this is known as:
    • A. 

      Brand dependability

    • B. 

      Brand loyalty

    • C. 

      Brand fidelity

    • D. 

      Brand development

  • 51. 
    When an organisation becomes complacent about their product strategy and fails to keep up with market changes, this is known as:
    • A. 

      Gratification

    • B. 

      Market myopia

    • C. 

      Short-termism

    • D. 

      Portfolio negligence

  • 52. 
    The __________________ is a tool for analysing the product portfolio of a business. It measures whether products have a high or low market share and operate in high or low growth industries. 
  • 53. 
    ________________ refers to any strategy used to make a product appear to be dissimilar from others. Examples include quality, branding and packaging.
  • 54. 
    ________________ describes the varieties of of a particular product that serves the same purpose in a particular market. For example there are many different varieties of the BMW Mini, ranging from the basic model to the top of the range Mini Cooper S.
  • 55. 
    ________________ is the typical process that products go through from their initial design and launch to their decline and withdrawal from the market.
  • 56. 
    ____________________ is the range of products or strategic business units owned and developed by an organisation.
  • 57. 
    __________ are products in the BCG Matrix that have high or rising market share in a high growth market.
  • 58. 
    ______________ is a marketing strategy that involves selling several related products under one brand name (also known as umbrella branding).
  • 59. 
    The variety of product lines that a business produces or a retailer stocks.