Product Strategy and Types Quiz

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What type of product often requires considerable effort in search?

Convenience

Speciality (correct)

Shopping

Unsought

Which type of product is characterized by being disliked or unknown and requiring lots of promotion?

Speciality

Shopping

Convenience

Unsought (correct)

What is the goal during the Introduction stage of the Product Life Cycle at the industry level?

Maximize profits

Defend market share

Establish Brand Loyalty

Build Awareness (correct)

During which stage of the Product Life Cycle does competition likely increase, leading to a need to outdo competitors in distribution?

Maturity Signup and view all the answers

What are the characteristics of products that make them trialable according to the Diffusion of Innovation theory?

Low commitment to test Signup and view all the answers

What is the characteristic of a product that makes it trialable, according to the Diffusion of Innovation theory?

Low commitment to test it Signup and view all the answers

During which stage of the Product Life Cycle at the industry level does competition likely increase, leading to a need to outdo competitors in distribution?

Maturity Signup and view all the answers

What type of product often requires prolonged time for consumers to make a purchase decision?

Convenience Signup and view all the answers

Which breadth strategy involves introducing a new product line that is cheaper than building a new brand and may result in diluting the parent brand?

Brand Extension Signup and view all the answers

What is the goal during the Decline stage of the Product Life Cycle at the industry level?

Maximize profits, exit, or niche Signup and view all the answers

What is the fundamental difference between 'place' and 'process'?

Place is static and bordered, while process is dynamic Signup and view all the answers

In the context of capitalism, what was the role of John Locke, Adam Smith, and David Ricardo according to the Pro-Capitalism discourse?

They were proponents of private ownership and capitalist markets Signup and view all the answers

What is the driving force behind urbanization according to the text?

The need for surplus and capitalism's reliance on urbanization to absorb surplus for profits Signup and view all the answers

According to critical perspectives discussed in the text, what are capitalists always chasing?

Surplus in terms of quantity, profit, and labor hours Signup and view all the answers

What does capitalism need urbanization for, according to the text?

To absorb surplus for realizing profits in a perpetual cycle Signup and view all the answers

Product Strategy and Types Quiz

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