Designing and managing Products - Quiz

1. Product mix width refers to

Number of customers

Depth of each product line

Number of versions of a product

Number of product lines a company offers

2. Product line stretching means

Reducing product features

Creating unrelated offerings

Launching seasonal products

Adding products beyond the current range

3. Convenience products are characterized by

Frequent purchase and low effort

Long decision-making time

High involvement and comparison

Specialized buying effort

4. Shopping products are typically

Bought frequently and immediately

Always low-priced

Purchased impulsively

Compared on price, quality, and style before purchase

5. Unsought products are

Products consumers do not think about until a need arises

Seasonal items

Regularly purchased goods

Brand-loyal items

6. The augmented product includes

Additional services and benefits beyond the core and actual product

Brand awareness

Only tangible features

The factory price

7. Two-way line stretching means

Segmenting by demographics

Expanding both upward and downward

Removing intermediate products

Targeting only luxury markets

8. The three levels of a product include

Durable, non-durable, and service product

Core, actual, and augmented product

Tangible, intangible, and promotional product

Basic, standard, and deluxe product

9. Product line filling means

Adding items within the existing range

Adding entirely new product categories

Reducing shelf space

Dropping slow-moving items

10. Upward line stretching occurs when

A firm merges product lines

The product life cycle ends

A company introduces low-end items

A firm adds higher-priced products

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