Creating Value - Quiz | SaliceSalice

1. Test marketing is conducted to:

Introduce the product on a limited scale to test its success in the market

Reduce product features

Focus on customer loyalty programs

Launch the product globally

2. Intangibility of services means that:

Services cannot be touched or physically measured

Services have no impact on customer satisfaction

Services can be easily seen and touched

Services are easily produced

3. Maturity stage in the product life cycle refers to:

Sales growth slowing down as the product reaches widespread market penetration

High investment in product development

The introduction of the product to the market

A decline in sales and profits

4. New product development (NPD) is:

The process of bringing a new product or service to the market

Ignoring market research

Reducing the product portfolio

Focusing only on existing products

5. The service-profit chain links:

Product quality to sales growth

Internal service quality to employee satisfaction, customer satisfaction, and profitability

Customer complaints to service innovation

Employee satisfaction to product development

6. Incremental innovation refers to:

Ignoring customer feedback

Making small, gradual improvements to an existing product

Completely redesigning a product

Launching a disruptive product

7. Line stretching in product strategy refers to:

Ignoring new market opportunities

Focusing only on one product

Reducing the product mix

Expanding a product line by adding products at different price points or quality levels

8. Product differentiation is achieved by:

Reducing the price

Creating unique product features or attributes that set the product apart from competitors

Offering the same product as competitors

Expanding into new markets

9. Internal marketing in service firms focuses on:

Treating employees as internal customers and ensuring their satisfaction to improve service quality

Ignoring employee satisfaction

Promoting products to customers

Reducing service offerings

10. Service differentiation is achieved by:

Reducing the service offerings

Focusing solely on product quality

Providing unique features or superior service quality that sets the service apart from competitors

Lowering prices

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