Product- Chapter 8&9

Create a vibrant and educational illustration related to product development and marketing, featuring elements like product designs, customers engaging with products, and market research activities.

Product Knowledge Quiz

Test your understanding of product development and marketing concepts through this engaging quiz! Dive into topics like product classification, market testing, and customer insights.

16 thought-provoking questions
Multiple choice format
Perfect for students and professionals alike

16 Questions4 MinutesCreated by EngagingMarketer317

Anything that can be offered to a market for attention, acquisition, use, or consumption that might satisfy a want or need is called

Demand

Idea

Product

Service

This company is well known for Technology innovation, Great Value and act as a game changer.

Nokia

Apple

HTC

Samsung

.................buy products & ....................... Use product

Consumer & Customers

Customers & Consumer

Buyers & Sellers

Buyers & Customers

...................means the classification of standardized product into certain well-defined classes or groups.

Gradation

Segmentation

Standardization

Specification

..............is establishment of certain standards or specifications for products. It may involve Quality (color, taste, appearance, sweetness, purity)& Quantity (weight, size, legth etc)

Product Development

Gradation

Standardization

Product Control

.................... Reflects the sum of perceived tangible & intangible benefits & costs to customers.

Customer Satisfaction

Customer Value

Customer Delight

None of the above

In marketing, the term product:

Refers only to tangible items that can be seen, tested, or touched

Is a broad concept that refers to anything that can be offered for use and consumption, in exchange for money or some other form of value

Is limited in meaning to goods, services, and ideas only

Neve refers to such things as package design, brand name or warranty

Testing before launching a product is know as............

Acid test

Concept testing

Market test

Test marketing

Launching a product in a small part of the market is called:

Commercialization

Competitive analysis

Competitive response

Test marketing

Original products, product improvements, product modifications, and new brands that a firm develops through its own research and development efforts are called:

Altered products

Concept products

New Products

Supplemental products

Presenting new product ideas to consumers in symbolic or physical ways to measure their reactions occurs during which of the following stages:

Concept testing

Idea generation

Marketing strategy

Screening

The systematic search for new-product ideas is characteristic of which stage in the new product development process?

Business analysis

Concept development and testing

Idea generation

Idea screening

Company can create successful new products by

Understanding consumers, markets & competitors

Developing products that deliver superior value to customers

Developing a great advertising campaign

Both a & b

What are the two ways that a company can obtain new products?

Internal development and merger

Line extension and brand management service

New product development and acquisition

Acquisition and merger

Highest percentage of ideas for new products originated with/from which of the following sources?

Competitors

Customers

Employees

Top management

Which of the following are the people who purchase new products almost as soon as the products reach the market?

Early majority

Innovators

Late adopters

Late majority

Product- Chapter 8&9

Product Knowledge Quiz

More Quizzes