MM Assignment

Quiz Questions

Q1. Branding______________ is when you know a brand and are familiar with it, and the chances
are slim that you will forget. But this has nothing to do with whether people choose the brand over a
different brand.

 insistence
 recognition
 preference
 loyalty 

Q2. When a company choose the Expansion product mix strategy, they are

 changing an existing product

 adding an expensive version
 adding or inventing a brand-new product line/item
 upgrading the software for the current product

Q3. which of the following is not a factor that affects product mix?

 Profitability
 Demand
 Line Stretching Decision
 Competition

Q4. Which activity is addressed in the product/service management function?

 Setting discounts to clear products from inventory

 Determining where products will be offered for sale
 Focusing promotional activities on a new-product release
 Eliminating products that are slow sellers

Q5. Select the 2 advantages of branding

 A business can save money on marketing once the product becomes a household name.
 It means businesses don't have to make new items.
 The business can change its name if it wants to.
 Higher prices can be charged when consumers become loyal to the brand.

Q6. Which of the following is a reason that a business would make changes to its products?

 To keep up with changing consumer preferences

 To spread risk over a wider area
 To predict the success of the changed product
 To make room for other products
Q7. A company advertises that its products are durable lightweight, and come in a variety of colours.
What strategy is the company using to position its product?

 Price and quality

 Features and benefits
 Unique characteristics
 Relationship to other products

Q8. A drawback of branded products as compared to unbranded products is that they usually

 differentiate products
 must be sold at higher prices
 create brand loyalty
 require trademark registration

Q9. Company XYZ sells condensed soups and promotes them by saying, "Great taste, great price."
Company XYZ is positioning its product according to what strategy?

 Relationship to other products

 Features and benefits
 Unique characteristic
 Price and quality

Q10. A company that makes ink pens claims no other pen on the market uses a type of ink that
changes colour when exposed to light. The company is positioning its product according to what
strategy?

 Price and quality

 features and benefits
 unique characteristics
 relation to other products in the line

Q11. What is the Differentiation Strategy?

 A business developing and marketing goods or services to customers that differ from
business rivals
 A business improving the efficiency of its operations and productivity
 Reducing the cost of their products

Q12. What is not a factor of the differentiation strategy?

 brand image
 service
 low cost labour
 quality and durability

Q13. The product can be differentiated on the basis of

 Conformance and performance quality

 Durability and style
 Reliability and repair-ability
 All of the above
Q14. The most obvious way that firms can try to differentiate their products is by

 making the product more complex.

 introducing the product at the right time.
 customizing the product for a particular segment.
 altering the features of the products they sell.

Q15. Which of the following is an example of product differentiation on the basis of physical
characteristics?

 Supporting social causes

 Offering an extended warranty
 Setting up your business is a convenient location
 Claiming that your product tastes the best because you use premium ingredients