Designing and managing Products - Quiz

1. Shopping products are typically

Purchased impulsively

Always low-priced

Compared on price, quality, and style before purchase

Bought frequently and immediately

2. Convenience products are characterized by

Specialized buying effort

Frequent purchase and low effort

High involvement and comparison

Long decision-making time

3. Two-way line stretching means

Segmenting by demographics

Removing intermediate products

Targeting only luxury markets

Expanding both upward and downward

4. In Kotler’s classification, consumer products are categorized by

Durable, non-durable, and service products

Convenience, shopping, specialty, and unsought goods

Industrial, commercial, and luxury goods

Basic, enhanced, and digital goods

5. Product line filling means

Adding items within the existing range

Dropping slow-moving items

Adding entirely new product categories

Reducing shelf space

6. Unsought products are

Brand-loyal items

Regularly purchased goods

Seasonal items

Products consumers do not think about until a need arises

7. The augmented product includes

Only tangible features

The factory price

Additional services and benefits beyond the core and actual product

Brand awareness

8. Product mix (or assortment) refers to

Product packaging variety

The size of a single product line

The set of all product lines offered by a company

The price list of products

9. Product line refers to

All products of a company

Competitor’s portfolio

Only premium products

A group of related products under one brand offered by a firm

10. Downward line stretching occurs when

The company expands horizontally

A firm introduces lower-priced items

The product line is discontinued

A company launches premium versions

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