BMGT Exam 2 questions well answered
already passed
six steps in product development are.. - correct answer ✔✔idea generation, development,
product screening, testing, commercialization, product analysis
Over _____ of products fail in their first year by not delivering what is promised, poor
positioning, competitive market forces, etc - correct answer ✔✔80%
this is used to entice customers (can also include factors such as service, surroundings, past
experience, delivery, brand) - correct answer ✔✔total product offering/value package
products are grouped into ______, which are groups of individual products that are closely
related in some way. - correct answer ✔✔product lines
The combination of product lines offered by a company - correct answer ✔✔product mix
Attempts to make close substitutes appear different, so that customers no longer regard them
as similar or identical. - correct answer ✔✔product differentiation
_____ and ______ are big factors in the differentiation of products, lines, etc. - correct answer
✔✔pricing, promotion
A name, symbol, design, etc that identifies the products and/or services of a particular seller. -
correct answer ✔✔branding
, _____ is a part of a brand that can be spoken, including letters, words and numbers. - correct
answer ✔✔brand name
A brand that has been given legal exclusivity for both its name and logo. - correct answer
✔✔trademark
The product life cycle includes.... - correct answer ✔✔introduction, growth, maturity, decline
______ the product is one of the most difficult areas of the market mix to control. - correct
answer ✔✔pricing
In general, profit levels peak before ____ reach their peak. - correct answer ✔✔sales
Pricing strategy consists of three, top-level approaches: - correct answer ✔✔cost-based pricing,
demand-based pricing, competition-based pricing
A ______ analysis is used in order to evaluate any pricing strategy. - correct answer ✔✔break
even
Disseminating information about a product brand, or company to the target market and to
persuade them to participate in an exchange. - correct answer ✔✔promotion
____ combines all promotional tools in a comprehensive strategy. - correct answer ✔✔IMC
(integrated marketing communications)
Paid, non-personal, promotion of goods, services, companies and ideas by an identified sponsor.
- correct answer ✔✔advertising
Advertising in the US exceeds _____ billion in spending per year. - correct answer ✔✔225
already passed
six steps in product development are.. - correct answer ✔✔idea generation, development,
product screening, testing, commercialization, product analysis
Over _____ of products fail in their first year by not delivering what is promised, poor
positioning, competitive market forces, etc - correct answer ✔✔80%
this is used to entice customers (can also include factors such as service, surroundings, past
experience, delivery, brand) - correct answer ✔✔total product offering/value package
products are grouped into ______, which are groups of individual products that are closely
related in some way. - correct answer ✔✔product lines
The combination of product lines offered by a company - correct answer ✔✔product mix
Attempts to make close substitutes appear different, so that customers no longer regard them
as similar or identical. - correct answer ✔✔product differentiation
_____ and ______ are big factors in the differentiation of products, lines, etc. - correct answer
✔✔pricing, promotion
A name, symbol, design, etc that identifies the products and/or services of a particular seller. -
correct answer ✔✔branding
, _____ is a part of a brand that can be spoken, including letters, words and numbers. - correct
answer ✔✔brand name
A brand that has been given legal exclusivity for both its name and logo. - correct answer
✔✔trademark
The product life cycle includes.... - correct answer ✔✔introduction, growth, maturity, decline
______ the product is one of the most difficult areas of the market mix to control. - correct
answer ✔✔pricing
In general, profit levels peak before ____ reach their peak. - correct answer ✔✔sales
Pricing strategy consists of three, top-level approaches: - correct answer ✔✔cost-based pricing,
demand-based pricing, competition-based pricing
A ______ analysis is used in order to evaluate any pricing strategy. - correct answer ✔✔break
even
Disseminating information about a product brand, or company to the target market and to
persuade them to participate in an exchange. - correct answer ✔✔promotion
____ combines all promotional tools in a comprehensive strategy. - correct answer ✔✔IMC
(integrated marketing communications)
Paid, non-personal, promotion of goods, services, companies and ideas by an identified sponsor.
- correct answer ✔✔advertising
Advertising in the US exceeds _____ billion in spending per year. - correct answer ✔✔225
