Product Development Stages in Business Analysis

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In the context of the business analysis process, which product level would a new software application be considered?

Actual product level (correct)

Augmented product level

Potential product level

Core product level

Which of the following is NOT a benefit of branding?

Brands help shoppers to identify their preferred product

Branding is essential for a consumer in the shopping process

Brands signal quality

Brands increase the effort in making a purchase (correct)

Which of the following is an example of cobranding?

Nike x Apple Watch (correct)

Nike Air Jordan

Apple MacBook Pro

Apple iPhone

Which type of brand is created by a retailer or wholesaler?

Distributor brand Signup and view all the answers

What is a brand extension?

A way of capitalizing on the recognition, goodwill, and positive associations of an established brand Signup and view all the answers

In the context of the business analysis process, what product level would a university degree course be considered?

Augmented product level Signup and view all the answers

Which product level in the business analysis process focuses on a series of related products offered by a firm?

Product Line Signup and view all the answers

Which type of brand is created when two companies collaborate to develop a product or service?

Cobrand Signup and view all the answers

Which brand extension strategy involves introducing a new product under an existing brand name in a different product category?

Category Extension Signup and view all the answers

Which brand type represents a company's overall image, reputation, and identity in the market?

Corporate Brand Signup and view all the answers

Which factor determines the number of product lines that a firm can successfully manage?

Product Mix Length Signup and view all the answers

Which stage of the Product Life Cycle is characterized by a decline in sales and profits despite heavy marketing efforts?

Decline Signup and view all the answers

What is the key characteristic of unique consumer products compared to other products?

They offer much more differentiation between brands Signup and view all the answers

In the context of product levels, what does the core product refer to?

The most fundamental value of the product Signup and view all the answers

Which type of product is characterized by consumers being unaware of or having little interest in buying it?

Unsought product Signup and view all the answers

What differentiates an augmented product from an expected product?

Augmented products exceed basic product expectations with added features Signup and view all the answers

What is the primary reason consumers would purchase a core product?

If they perceive a real benefit from using it Signup and view all the answers

What aspect of a unique consumer product must be clearly observable for it to retain its exclusivity?

Differentiation between brands Signup and view all the answers