Marketing Mix and Product Development Quiz
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Questions and Answers

What are the stages of product development in the product life cycle?

  • Introduction, Adoption, Growth, Stabilization
  • Introduction, Expansion, Decline, Termination
  • Introductory, Competitive, Market Decline, Product Discontinuation
  • Introductory, Growth and Acceptance, Maturity and Competition, Market Saturation (correct)
  • What is a key aspect of promoting products through publicity?

  • Paying for media coverage
  • Connection with customers on an emotional level (correct)
  • Direct sales approach
  • Ignoring social media platforms
  • What is considered when determining the right price for a product or service?

  • Past pricing strategies
  • Manufacturer's preference
  • Cost structure, market demand, desired brand image (correct)
  • Market trends only
  • Which distribution channel is common for consumer goods from the manufacturer to the end consumer?

    <p>Manufacturer to retailer to consumer</p> Signup and view all the answers

    What is a strategy for connecting with customers on an emotional level in promotion?

    <p>Building consistent branding strategies</p> Signup and view all the answers

    Which factor is more effective for many small companies instead of engaging in price competition?

    <p>Non-price competition</p> Signup and view all the answers

    What is the main focus of publicity in promotion?

    <p>Generating commercial news covered by the media</p> Signup and view all the answers

    Which distribution channel involves the most intermediaries for consumer goods?

    <p>Manufacturer to wholesaler to wholesaler to retailer to consumer</p> Signup and view all the answers

    Why is non-price competition highlighted as effective for many small companies?

    <p>It builds a desired image in customers' minds</p> Signup and view all the answers

    What is the primary factor that influences determining the right price for a product or service?

    <p>Small company's cost structure</p> Signup and view all the answers

    In what stage of the product life cycle does market saturation typically occur?

    <p>Maturity and competition stage</p> Signup and view all the answers

    What type of channel of distribution is common for industrial goods?

    <p>Manufacturer to industrial user</p> Signup and view all the answers

    Which factor plays a crucial role in determining the right price for a product or service?

    <p>The desired image the company wants to create in customers' minds</p> Signup and view all the answers

    What is a key characteristic of non-price competition that makes it effective for many small companies?

    <p>Differentiating products based on features and quality</p> Signup and view all the answers

    What makes publicity different from traditional advertising in promotion strategies?

    <p>Publicity does not require any budget allocation</p> Signup and view all the answers

    In which stage of the product life cycle does the focus shift towards building a consistent branding strategy?

    <p>Maturity and competition stage</p> Signup and view all the answers

    Which factor significantly influences the decision-making process when choosing distribution channels for industrial goods?

    <p>The type of industrial user being targeted</p> Signup and view all the answers

    What is a distinguishing feature of 'Entertailing' as a promotion strategy?

    <p>'Entertailing' aims to establish a consistent branding strategy</p> Signup and view all the answers

    What is the key consideration for determining the right price for a product or service according to the text?

    <p>Company's desired image in customers' minds</p> Signup and view all the answers

    Which stage of the product life cycle typically focuses on building a consistent branding strategy?

    <p>Maturity and competition stage</p> Signup and view all the answers

    What is the primary factor that makes non-price competition more effective for many small companies according to the text?

    <p>Brand loyalty</p> Signup and view all the answers

    Which channel of distribution involves the most intermediaries for consumer goods as per the text?

    <p>Manufacturer to wholesaler to wholesaler to retailer to consumer</p> Signup and view all the answers

    What characteristic of publicity in promotion makes it different from traditional advertising according to the text?

    <p>Direct payment for placement</p> Signup and view all the answers

    In promotion, what element is highlighted as crucial for connecting with customers on an emotional level according to the text?

    <p>'Entertailing'</p> Signup and view all the answers

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