2.11 Test
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| A. Intangible activities that are performed by other people for money; productive acts that satisfy economic wants.B. A product whose sales and profitability are declining.C. Marketing element referring to what goods, services, or ideas a business will offer its customers. D. Plan of action for achieving marketing goals and objectives.E. The stages through which goods and services move from the time they are introduced on the market until they are taken off the market.F. The product life cycle stage in which sales peak and then increase at a slower rate or start to decline.G. A marketing function that involves obtaining, developing, maintaining, and improving a product or service mix in response to market opportunities.H. A business structure that requires the authorization or permission from an owner to another entity to use trademarked, copyrighted, or patented material for a specific activity, during a specific time period, for the profit of both parties.I. To use a creative-thinking technique involving the identification of as many different ideas as possible during a certain time frame; can be done by one person but is used most often in a group setting.J. Examining such factors as demand, costs, competition, capital investment required, and potential profit of a product or service to determine how it will fit into the company's product mix.K. The product life cycle stage in which sales rise rapidly.L. Goods or services that are currently being sold.M. A combination of goods and/or services grouped together and offered as one product.N. The process of thinking up or creating new plans, schemes, thoughts; used in creating new products and modifying existing products.O. A good or service that has not been offered before, has been modified in some way, or is being presented or distributed in a different manner.P. The process of introducing a new product to a limited market to determine what its acceptance will be.Q. The particular assortment of goods and services that a business offers in order to meet the needs of its market(s) and its company goals. R. An advantage consumers receive from using a product.S. The particular group of customers a business seeks to attract.T. A product mix strategy in which a business creates a certain image or impression of a product in the minds of consumers. |
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