Tag: product

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Questions Related to product

Multiple choice commercial studies marketing and sales difference between products and services product marketing

Product planning is the.

  1. Development of new products

  2. Altering of existing products

  3. Elimination of existing products

  4. All the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Product planning is a comprehensive process that includes the development of new products, the modification of existing ones, and the strategic decision to eliminate underperforming products.

Multiple choice commercial studies marketing and sales difference between products and services product marketing

If all the products sold are closely related in their usage or production etc. the mix can be called as _______.

  1. Consistent

  2. Depth

  3. Breadth

  4. None of the above
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Consistency in a product mix refers to how closely related the various product lines are in terms of end use, production requirements, distribution channels, or other ways. This ensures the company maintains a focused brand identity.

Multiple choice commercial studies marketing and sales difference between products and services product marketing

The process of withdrawal is technically known as___________.

  1. Product modification

  2. Product elimination

  3. Product line expansion

  4. Product line modification
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Product elimination is the formal process of removing a product from the company's product mix, often due to poor performance or strategic shifts. It is the final stage in the product life cycle management.

Multiple choice commercial studies marketing and sales difference between products and services product marketing

Fixing a standard for product is a.

  1. Managerial function

  2. Social function

  3. Technical function

  4. Economic function
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Setting product standards involves defining technical specifications, quality benchmarks, and performance metrics. This is a technical function because it relies on engineering and production requirements.

Multiple choice commercial studies marketing and sales difference between products and services product marketing

When a manufacturer of high quality product starts selling a low quality of product, is termed as.

  1. Trading up

  2. Trading down

  3. Mark up

  4. Quality variation
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Trading down occurs when a company introduces a lower-priced, lower-quality version of its product to attract a broader market segment. Conversely, trading up involves adding higher-end products to a line.

Multiple choice commercial studies marketing and sales difference between products and services product marketing

Diversification means___________.

  1. Adding a new product to the existing product line

  2. Eliminating a product from the existing product line

  3. Modification of a product

  4. Both (B) and (C)
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Diversification is a growth strategy where a company adds new products or services to its existing portfolio, often entering new markets or expanding its current product line.

Multiple choice commercial studies marketing and sales difference between products and services product marketing

Product line refers to___________.

  1. A particular product

  2. Process of withdrawal

  3. A group of products that are closely related

  4. Channel of distribution
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

A product line is a group of related products under a single brand, sold by the same company. They are usually related in terms of function, customer group, or price range.