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marketing management
long quiz
| Question | Answer |
|---|---|
| What are the four stages of the Product Life Cycle? | Introduction, Growth, Maturity, Decline |
| What Product Life Cycle stage builds awareness and encourages trial purchase? | Introduction |
| What Product Life Cycle stage promotes rapid expansion? | Growth |
| What Product Life Cycle stage transitions the product from high growth to sales stability? | Maturity |
| What Product Life Cycle stage determines the future of the product? | Decline |
| What are the five stages of New Product Development? | Recognize Product Opportunity, Define and Test Product Opportunity, Develop Product, Market Test, Commercialization |
| What stage of New Product Development identifies customer needs and market opportunities? | Recognize Product Opportunity |
| What stage of New Product Development includes product concept, value proposition, marketing strategy, business case analysis, and situation analysis? | Define and Test Product Opportunity |
| What stage of New Product Development creates prototypes and prepares the product? | Develop Product |
| What stage of New Product Development evaluates customer acceptance before launch? | Market Test |
| What stage of New Product Development is the full market launch? | Commercialization |
| What overall evaluation assesses a product's probability of success? | Business Case Analysis |
| What evaluates current marketing conditions and existing marketing plans? | Situation Analysis |
| What identifies customer needs and defines the target market before product development? | Marketing Strategy |
| What introduces models, prototypes, and descriptions to target customers? | Product Concept Testing |
| What are the five stages of the Innovation Diffusion Process? | Awareness, Interest, Evaluation, Trial, Adoption |
| What stage of the Innovation Diffusion Process means customers know the product exists but lack sufficient information? | Awareness |
| What stage of the Innovation Diffusion Process involves seeking additional information? | Interest |
| What stage of the Innovation Diffusion Process combines information before trying the product? | Evaluation |
| What stage of the Innovation Diffusion Process purchases the product to determine its value? | Trial |
| What stage of the Innovation Diffusion Process purchases the product with the intention of becoming a regular user? | Adoption |
| What is "a name, term, sign, symbol, or design, or any feature that identifies one seller's goods or services as distinct from those of other sellers"? | Brand |
| What strategy is an integral part of the product development process because successful new products result from a well-conceived branding strategy? | Branding Strategy |
| What brand roles convey information, educate customers, and reassure the purchase decision? | Customer Brand Roles |
| What brand roles offer legal protection through a trademark and categorize products? | Company Brand Roles |
| What brand roles provide competitors with a benchmark against which to compete? | Competitor Brand Roles |
| What is a set of assets and liabilities linked to a brand's name and symbol that adds to or subtracts from the value provided by a product or service? | Brand Equity |
| What are the five components of Brand Equity? | Brand Awareness, Brand Association, Perceived Quality, Brand Loyalty, Brand Assets |
| What component of Brand Equity is the customer's ability to recognize and remember a brand? | Brand Awareness |
| What component of Brand Equity is the unique qualities or meanings customers connect with a brand? | Brand Association |
| What component of Brand Equity gives customers a reason to buy and provides price premium opportunities? | Perceived Quality |
| What component of Brand Equity refers to repeat purchasing behavior? | Brand Loyalty |
| What branding decision separates the company from the brand? | Stand-Alone Branding |
| What branding decision uses one brand name for multiple products? | Family Branding |
| What branding decision sells products nationwide under the same brand? | National Branding |
| What branding decision allows retailers to market products under their own brand? | Store Branding |
| What allows another manufacturer to use a brand in exchange for a fee or percentage of sales? | Licensing |
| What joins two or more well-known brands in one product or partnership? | Co-branding |
| What are the three objectives of packaging? | Protect, Communicate, Promote Usage |
| What offers broad promises about product performance and customer satisfaction? | General Warranty |
| What offers explicit promises related to specific product components? | Specific Warranty |
Created by:
lykieee