Podcast
Questions and Answers
What type of product requires special purchasing efforts by customers?
What type of product requires special purchasing efforts by customers?
- Specialty product (correct)
- Unsought product
- Convenience product
- Shopping product
Which of the following is a characteristic of a service?
Which of the following is a characteristic of a service?
- Tangibility
- Inconsistency
- Intangibility (correct)
- Inventory
What is the name of the phase in the product life cycle where sales increase drastically?
What is the name of the phase in the product life cycle where sales increase drastically?
- Growth phase (correct)
- Introduction phase
- Decline phase
- Maturity phase
What is the name of the strategy of setting a very high price for new technology products?
What is the name of the strategy of setting a very high price for new technology products?
What is the primary goal of the introduction phase of the product life cycle?
What is the primary goal of the introduction phase of the product life cycle?
How do companies push a product from decline phase back into growth phase?
How do companies push a product from decline phase back into growth phase?
Which type of product is characterized by frequent use and low effort spent on buying?
Which type of product is characterized by frequent use and low effort spent on buying?
What is the primary characteristic of an unsought product?
What is the primary characteristic of an unsought product?
What is the name of the phase in the product life cycle where sales slow down and profits decline?
What is the name of the phase in the product life cycle where sales slow down and profits decline?
Which of the following is NOT a characteristic of a service?
Which of the following is NOT a characteristic of a service?
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