Chapter 7 - Products

Marketing decision makers realise that people buy
1. due to high pressure tactics
2. to satisfy their wants
3. only when it is required
4. when the price is at its lowest
Which of the following is closest to a pure good?
1. A BMW
2. A golf course
3. A pet grooming salon
4. A dentist
All of the following belong to the service sector EXCEPT:
1. construction
2. retailing
3. agriculture
4. health care
In which stage to profits generally appear?
1. Decline stage
2. Introductory stage
3. Growth stage
4. Maturity stage
A viable marketing strategy would be to promote the differences that separate competing products in the life cycle stage of:
1. introduction
2. stabilisation
3. growth
4. maturity
Which of the following is NOT a quadrant in the BCG grid?
1. Cash cow
2. Wild cat
3. Dog
4. Sun
Greta has been analysing the competitive standing of one of her products. Since Greta's product was introduced, 20 similar products have appeared, forcing her to change distribution strategies. Greta has also needed to change pricing strategies in order to remain competitive. Sales volume has dipped and she suspects sales of her product have reached a saturation level. At what stage of the product life cycle is the product?
1. Introductory
2. Growth
3. Maturity
4. Decline
The following are strategies from the Ansoff matrix:
1. grow, maintain, harvest
2. market penetration, product development, market extension, diversification
3. invest for growth, manage selectively, harvest/withdraw
4. maintain, revitalise, harvest delete
What sort of branding strategy do Procter and Gamble use in the detergent market?
1. Umbrella
2. Single
3. Portfolio
4. Solus
Which of the following frameworks compares markets and products to determine strategy?
1. GE multifactor portfolio matrix
2. Ansoff matrix
3. BCG grid
4. Five Forces model

Chapter 7 - Products

Quiz