Title: Product Marketing
Course: Question Banks

Q: An offering by an organization that provides tangible or intangible customer satisfaction is the definition of a:
- business strategy
- marketing mix
- product
A: product

Q: Casey enjoyed being out in nature and watching wildlife. He wanted the convenience of taking high-quality pictures quickly and under a variety of circumstances. To satisfy these needs Casey must address them through which product level?
- augmented product level
- promised product level
- core product level
A: core product level

Q: Hilliers’ Garden Centers offers not only plants and products customers need for their gardens, but also a gardening club that anyone can join. The garden club Hilliers’ offers is considered a(n):
- core product
- tangible product
- augmented product
A: augmented product

Q: What are the classification groups for consumer products?
- convenience, shopping, services, speciality
- speciality, unsought, convenience, future
- speciality, shopping, unsought, convenience
A: speciality, shopping, unsought, convenience

Q: If something is described as a performance, an effort, or a deed, what is being described?
- a tangible product
- a good
- a service
A: a service

Q: In order for a company to strategize when to augment its products with add-on services, it asks itself two questions. One question is “Will the augmented services increase the total revenue for each sale?” What is the other question?
- Will the augmented services decrease the marketing team's involvement?
- Will the augmented services require the company to change its organizational structure?
- Will the augmented services create a more satisfying and complete customer experience?
A: Will the augmented services create a more satisfying and complete customer experience?

Q: Meistertask provides a free online service to manage any project collaboratively. Anyone can create two projects for free and share them with anyone for collaboration. A user can upgrade to the Pro package for $9/month and receive unlimited integrations, projects, and status reporting. Meistertask is an example of an augmented service that:
- diminishes customer experience
- represses revenue
- increases revenue per customer
A: increases revenue per customer

Q: How should the marketing mix be applied to or address products?
- simply focus on the price and promotion for a product
- apply the same marketing mix strategy across the company’s product lines
- focus on one product or a product line across the entire marketing mix
A: focus on one product or a product line across the entire marketing mix

Q: Luke has finished his marketing analysis of the inputs to his company surrounding its ice cream birthday cakes. He now is deeply working on the marketing outputs for the cakes. What is the next marketing step for Luke to take?
- Use historical lead generation plans
- Determine the size of the products
- Define key messages that communicate the birthday cake benefits to the birthday market
A: Define key messages that communicate the birthday cake benefits to the birthday market

Q: A hiking boot’s profits are declining because new competition has entered the market, but its cost has also declined due to increased volume of production. What stage of the product development life cycle is the hiking boot in?
- decline stage
- growth stage
- maturity stage
A: maturity stage

Q: A company just received an influx of investor cash for its consumer 3D printer product. The company is developing two prototypes to be tested and run through a few focus groups. This 3D printer product is at which life cycle stage?
- maturity stage
- growth stage
- development stage
A: development stage

Q: Which phase of the product life cycle requires potentially the most significant amount of money for marketing campaigns?
- development stage
- growth stage
- market introduction stage
A: market introduction stage

Q: Which stage of the product life cycle requires marketers to pay particular attention to the distribution of their product?
- development stage
- market introduction stage
- growth stage
A: growth stage

Q: The goal of a marketer’s interaction with the product life cycle is to:
- react to the life cycle
- control the life cycle
- influence the life cycle
A: influence the life cycle

Q: A company’s product is taking market share from another product in the same company. This process is known as:
- a complementary product
- strategy
- cannibalization
A: cannibalization

Q: A company is trying to figure out what products to offer, when to add new products, and when current products should be discontinued. What tool will assist the company in answering all of those questions?
- marketing mix
- product life cycle
- product portfolio management
A: product portfolio management

Q: A group of products in an organization that has some common elements and that is marketed to one general market is the definition of a:
- product
- strategic business unit
- product line
A: product line

Q: An organization groups together similar products into product lines. What is it called when an organization groups those product lines into specific market-targeting strategy groups?
- marketing mix units
- product lines
- strategic business unit (SBU)
A: strategic business unit (SBU)

Q: Which of the following statements is true about managing a product portfolio?
- A company's portfolio analysis considers a narrow range of market factors.
- Companies need to consider market growth and market share rates and not a product’s life cycle.
- To better understand past performance and discover future growth opportunities, companies should perform deep analysis of a SBU or products performance.
A: To better understand past performance and discover future growth opportunities, companies should perform deep analysis of a SBU or products performance.

Q: Brad begins work with his company’s newly created product line of personal care products. What overall framework does Brad need to use as he starts to work on the marketing mix for these products?
- Target specific individual products within the product line
- Revise the pricing and positioning strategies of the product line
- Focus on each product and the way they collectively fit together as a product line
A: Focus on each product and the way they collectively fit together as a product line

Q: If marketers decide to make a product modification, what must they consider?
- If they have a logical enough argument to present to the products’ manager
- If they understand the market trends well enough
- If they have a strong enough perception of understanding the products’ target customer
A: If they have a strong enough perception of understanding the products’ target customer

Q: What marketing mix strategies do marketers have with individual products?
- line-filling, brand extension, private labeling, line-product modification, line simplification
- product proliferation, product modification, repositioning
- repositioning, product modification, product deletion
A: repositioning, product modification, product deletion

Q: Kroger grocery stores have an in-house brand for many products, including butter, ice cream, salad dressing, and cheese,. This is an example of:
- a line-extension strategy
- a line simplification
- a line-filling strategy
A: a line-filling strategy

Q: Which of the following is a true statement?
- New products bring great reward with little risk.
- A company’s product portfolio is assured of success by adding new products.
- New products introduce risk into a portfolio as well as future potential profits.
A: New products introduce risk into a portfolio as well as future potential profits.

Q: Identify the first stage of the product development process:
- screen product ideas
- business case analysis
- generate and collect new product ideas
A: generate and collect new product ideas

Q: What stage is critical in the product development process for weeding out potentially costly product mistakes?
- concept development and testing stage
- generating product ideas stage
- screening product ideas stage
A: screening product ideas stage

Q: Which stage of the product development process sometimes includes rapid prototyping?
- generating product ideas stage
- screening product ideas stage
- concept development and testing stage
A: concept development and testing stage

Q: Why does an organization tackle stage four in the product development process, business case analysis?
- To weed out potentially expensive failed products
- To evaluate the product launch and generate a new cycle of product idea generation
- To be sure a product will bring enough financial returns to justify its significant development costs
A: To be sure a product will bring enough financial returns to justify its significant development costs

Q: How is the marketing department involved in the technical and marketing development stage of the product development process?
- They test the product prototype for market viability and concept validation.
- They generate and launch marketing and advertising campaigns.
- They test product prototypes with target customers and identify the most effective marketing mix for the new product.
A: They test product prototypes with target customers and identify the most effective marketing mix for the new product.

Q: If the marketing team is testing a product’s marketing mix with a wider market and validating its effectiveness, what product development stage are they in?
- launching stage
- final evaluation stage
- test marketing and validation stage
A: test marketing and validation stage

Q: This type of tool is used in which stage of the new product development process?
- test marketing
- evaluation
- business case analysis
A: business case analysis

Q: If a marketing team successfully defines a product's market requirements, what is an additional benefit of that process?
- They will also define the product screening process.
- Those requirement definitions will generate new product ideas.
- Those market requirement definitions will drive the the marketing plan.
A: Those market requirement definitions will drive the the marketing plan.

Q: When is the best time to conduct a test market of a product?
- after product launch stage
- concept development stage
- after technical and marketing development stage
A: after technical and marketing development stage

Q: Which stage in the new product development process is fully implementing a sustained marketing plan?
- the technical and marketing development stage
- the business case analysis stage
- the launch stage
A: the launch stage

Q: Which is a true statement about the diffusion-of-innovation theory?
- Laggards are considered opinion leaders and are more socially connected than other groups.
- The late majority adopts new products before the early majority and approaches innovations eagerly.
- Innovators are always the first to adopt innovative and new products and they are viewed as risk takers.
A: Innovators are always the first to adopt innovative and new products and they are viewed as risk takers.

Q: If a company’s new product is not a new technology and it’s an extension of a current product line, what type of adopters will be interested in it?
- Late majority
- Laggards
- Early majority
A: Early majority

Q: Which of the five customer adoption pattern groups is typically slow to act and embrace an innovation after the “average” participant has adopted it?
- Early majority
- Early adopters
- Late majority
A: Late majority

Q: If a marketer does not choose her marketing mix just right for these two adoption categories, a new product launch and adoption will probably stall.
- early majority and late majority
- innovators and early adopters
- early adopters and early majority
A: early adopters and early majority

Q: If your new product launch meets a good market and satisfies that market, it is considered a:
- market saturation fit
- product-market miss
- product-market fit
A: product-market fit

Q: A design process that directly engages end users at every design process stage to address the needs, limitations, and wants of the end user is the definition of:
- traditional new-product development
- lean startup methodology
- user-centered design
A: user-centered design

Q: Which methodology shortens the time frame needed to collect and capture marketing mix feedback and data?
- user-centered design
- traditional new-product development
- lean startup methodology
A: lean startup methodology