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Question 1

The core product is best defined as:

a) The fundamental benefit of the product

b) The secondary product

c) The tangible product

d) The augmented product

Question 2

An important reason for categorising products is:

a) To learn from the marketing of another product which appears to be different in form, but is similar in terms of the needs it fulfils.

b) To prioritise the messages that could be given to customers.

c) To identify the attributes which lead to brand loyalty.

d) To simplify a complex matrix of attributes in to a two dimensional model that can be interpreted by all product stakeholders.

Question 3

Consumer goods are defined as:

a) Relatively cheap products purchased on a regular basis.

b) Products purchased to satisfy individual or household needs.

c) The combination of shopping and speciality goods.

d) All items purchased by an individual excluding those that an individual is legally required to purchase e.g. car insurance.

Question 4

What does the acronym FMCG refer to?

a) Functional, mid-priced, or compulsory goods

b) Famous manufacturer's clothing goods (i.e. designer labels)

c) Fast moving consumer goods

d) Frequent market, consumption goods

Question 5

Which of the following is the best example of a measure of technical quality?

a) The image of a restaurant

b) Customer perceptions of a restaurant's waiters

c) Customer perceptions of a restaurant's food

d) Length of waiting time for a restaurant table

Question 6

Five stages in the product life cycle can be identified. Which of the following is NOT a generally accepted stage?

a) Introduction

b) Peak

c) Growth

d) Maturity

Question 7

A product that is perceived as being of average quality by one person may be perceived as being of high quality by someone with:

a) Higher expectations

b) Rising expectations

c) Falling expectations

d) Lower expectations

Question 8

At what stage in the product lifecycle does the sales growth start to slow down?

a) Growth stage

b) Maturity stage

c) Saturation stage

d) Decline stage

Question 9

What description is often given to groups of consumers who like to be seen owning something new and who are therefore prepared to purchase a product while it is still expensive?

a) Innovators

b) Early adopters

c) Early majority

d) Laggards

Question 10

Which growth strategy focuses on developing new products for a company's existing markets?

a) Market penetration

b) Market development

c) Product development

d) Diversification

Oxford University Press, Online Resource Centre, Chapter 08.

Chapter 08

Instructions