Designing and managing Products - Quiz

1. The core benefit of a product represents

The basic need or problem-solving benefit

The distribution channel

The pricing strategy

The packaging design

2. Two-way line stretching means

Removing intermediate products

Expanding both upward and downward

Segmenting by demographics

Targeting only luxury markets

3. Product line length refers to

The number of competitors

The width of product categories

The number of brands in the market

The number of items in a product line

4. The actual product refers to

Consumer expectation

Brand name, design, and features of the product

Psychological value

Post-sale service

5. Upward line stretching occurs when

The product life cycle ends

A firm merges product lines

A company introduces low-end items

A firm adds higher-priced products

6. Shopping products are typically

Always low-priced

Purchased impulsively

Compared on price, quality, and style before purchase

Bought frequently and immediately

7. Downward line stretching occurs when

The product line is discontinued

The company expands horizontally

A firm introduces lower-priced items

A company launches premium versions

8. A product is best defined as

A service with no physical form

Anything that can be offered to a market to satisfy a want or need

Only a tangible good

A physical item with packaging

9. Specialty products are

Standardized industrial goods

Frequently purchased convenience goods

Unique items with strong brand preference and loyalty

Low-involvement products

10. The three levels of a product include

Durable, non-durable, and service product

Core, actual, and augmented product

Basic, standard, and deluxe product

Tangible, intangible, and promotional product

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