Questions፡ Managing Products (Part 1, C) Purchased in bulk by companies
Chapter 5)
D) Includes machinery and raw
Instructions: Choose the best answer materials
for each question.
1. What is the correct definition of a
4. What best defines consumer
product?
products?
A) Any physical good that can be sold in
A) Products purchased by individuals for
a market
personal use
B) A tangible item that satisfies
B) Products bought by businesses for
customer needs
resale
C) Anything that can be offered to
C) Raw materials used in manufacturing
satisfy a need or want
D) Goods that require professional
D) Only goods that are mass-produced
installation
and sold in stores
5. How do industrial products differ
Section 2: Product Classification
from consumer products?
2. Industrial products are primarily
A) Industrial products are bought for
purchased for:
personal consumption
A) Personal consumption
B) Consumer products are purchased
B) Resale or business operations for business use
C) Impulse buying C) Industrial products are used for
production, resale, or business
D) Immediate household use
operations
D) Consumer products are more
3. Which of the following is NOT a expensive than industrial products
characteristic of an industrial product?
A) Used in business operations
Section 3: New Product Development
B) Sold directly to final consumers (NPD)
6. What is the first step in the New
Product Development (NPD) process? A) Growth, Development, Maturity, and
Obsolescence
A) Idea screening
B) Introduction, Growth, Maturity, and
B) Idea generation
Decline
C) Market testing
C) Launch, Expansion, Peak, and
D) Commercialization Reduction
D) Planning, Expansion, Reduction, and
Withdrawal
7. During which stage of NPD are
product prototypes created and tested?
A) Idea generation Section 5: Branding, Packaging, and
Labeling
B) Concept development & testing
10. What is the main purpose of
C) Market testing branding?
D) Commercialization A) To increase production costs
B) To differentiate a product from
competitors
8. Why is market testing important in
new product development? C) To eliminate the need for advertising
A) It eliminates competition from D) To reduce distribution costs
entering the market
B) It guarantees the product will be a
success 11. Which of the following is an
example of a successful brand
C) It helps assess customer response extension?
before full launch
A) Coca-Cola launching a new
D) It replaces the need for advertising smartphone
B) Apple introducing a smartwatch after
the iPhone
Section 4: Product Life Cycle (PLC)
C) McDonald's selling furniture
9. The product life cycle consists of
which four main stages? D) Nike launching a new line of
kitchenware
12. What is the function of packaging in
marketing?
A) Only to protect the product from
damage
B) To make the product look attractive
and increase sales
C) To replace branding efforts
D) To reduce the cost of the product
13. What information is typically
included on a product label?
A) Price only
B) Ingredients, usage instructions, and
branding
C) Brand name only
D) Manufacturing date only