Creating Value - Quiz | SaliceSalice

1. Concept testing in NPD is used to:

Evaluate competitors’ strategies

Present the product idea to potential consumers to gauge their reactions

Reduce product prices

Test marketing campaigns

2. Product differentiation is achieved by:

Offering the same product as competitors

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

Expanding into new markets

Reducing the price

3. Line stretching in product strategy refers to:

Focusing only on one product

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

Ignoring new market opportunities

Reducing the product mix

4. New product development (NPD) is:

Reducing the product portfolio

Ignoring market research

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

Focusing only on existing products

5. Incremental innovation refers to:

Launching a disruptive product

Making small, gradual improvements to an existing product

Ignoring customer feedback

Completely redesigning a product

6. The service-profit chain links:

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

Employee satisfaction to product development

Product quality to sales growth

Customer complaints to service innovation

7. Service blueprinting is a tool used to:

Design and visualize the service delivery process, including customer interactions and service provider activities

Set product prices

Analyze competitor services

Create marketing campaigns

8. Test marketing is conducted to:

Launch the product globally

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

Focus on customer loyalty programs

Reduce product features

9. In the introduction stage of the product life cycle:

The product is removed from the market

Prices are reduced

Competitors enter the market

The product is launched, and sales grow slowly

10. Service differentiation is achieved by:

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

Focusing solely on product quality

Reducing the service offerings

Lowering prices

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