Topic 2

18 Questions | Total Attempts: 155

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Innovation Quizzes & Trivia

This is a multiple choice test that will help you gauge your understanding of Topic 2 Product Innovation.


Questions and Answers
  • 1. 
    Which of the following will always increase when you add more features to a product?
    • A. 

      The selling price of the product

    • B. 

      The costs of making the product

    • C. 

      Sales of the product

  • 2. 
    What is the main business use of an extension strategy?
    • A. 

      To launch a product

    • B. 

      To brand a product

    • C. 

      To increase sales of a product

  • 3. 
    What happens to a product when it reaches the maturity stage of the product life cycle?
    • A. 

      Sales revenue grows over time

    • B. 

      Sales revenue is constant over time

    • C. 

      Sales revenue declines over time

  • 4. 
    Why does a business create a unique selling point for a product?
    • A. 

      To design the look of packaging

    • B. 

      To set the product's price

    • C. 

      To gain a competitive advantage

  • 5. 
    What is a product family?
    • A. 

      A marketing strategy

    • B. 

      A range of products

    • C. 

      A family business

  • 6. 
    What is used to show the level of sales of a product over time?
    • A. 

      A product life cycle

    • B. 

      Product mix

    • C. 

      Marketing matrix

  • 7. 
    Why do businesses use market research?
    • A. 

      To identify customer needs

    • B. 

      To sell goods and services

    • C. 

      To advertise

  • 8. 
    What does desk research involve?
    • A. 

      Gathering new data

    • B. 

      Gathering existing data

    • C. 

      Conducting surveys

  • 9. 
    What is information collected about opinions and views called?
    • A. 

      Quantitative data

    • B. 

      Qualitative data

    • C. 

      Segmentation

  • 10. 
    How does accurate market research help a business?
    • A. 

      By avoiding risk

    • B. 

      By reducing risk

    • C. 

      By eliminating risk

  • 11. 
    What does a market segment identify?
    • A. 

      All the products in the market

    • B. 

      Competitors

    • C. 

      Groups of people with similar buying habits

  • 12. 
    Which of the following is an example of primary research?
    • A. 

      Internet research

    • B. 

      A focus group

    • C. 

      Company reports

  • 13. 
    When identifying possible markets for a product, you will seek to establish:
    • A. 

      Who would buy the product?

    • B. 

      Why would they buy it?

    • C. 

      Where would it be used?

    • D. 

      Who would use the product?

    • E. 

      All of the above?

  • 14. 
    Designing products to meet the demand from consumers is called:
    • A. 

      Consumer push

    • B. 

      Consumer pull

    • C. 

      Consumer drive

  • 15. 
    Re-designing a product because of changes in materials or manufacturing methods is called?
    • A. 

      Technology drive

    • B. 

      Technology push

    • C. 

      Technology pull

  • 16. 
    A Technophile is someone who
    • A. 

      Needs some convincing before embracing technological change

    • B. 

      Immediately welcomes a technological change

    • C. 

      Resists all technological change

  • 17. 
    Innovation is
    • A. 

      A technical advance in a particular field often resulting in a novel product.

    • B. 

      The business of putting an invention in the marketplace and making it a success.

    • C. 

      The creation of new, modified or updated products aimed at existing customers.

  • 18. 
    A product family is
    • A. 

      A style or trend.

    • B. 

      Finding new applications for existing products.

    • C. 

      A group of products having common classification criteria.