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Product Lifecycle Management
MCQ on Product Lifecycle Management
MCQ on Product Lifecycle Management
Q.1 In the literature of product life cycle management, the term technological risk refers to
1. lost sales related to deferring investments.
2. lost sales related to making unprofitable investments.
3. losses related to declining market share for companies that are not technological leaders.
4. losses related to research and development costs.
Q.2 In the literature of product life cycle management, the term market risk refers to
1. lost sales related to deferring investments.
2. lost sales related to making unprofitable investments.
3. losses related to declining market share for companies that are not technological leaders.
4. losses related to research and development costs.
Q.3 Forward pricing refers to pricing products based on the expected product costs during the
which stage of the product life cycle?
1. startup.
2. growth.
3. maturity.
4. decline.
Q.4 Which of the following is more closely related to the learning curve?
1. economies of scope.
2. dynamic economies of scale.
3. static economies of scale.
4. diminishing returns to scale
Q.5 Approximately what percentage of a product’s life cycle costs are established in the
conception, design and development stages?
1. 50 to 60.
2. 60 to 70.
3. 70 to 80.
4. over 80.
Q.6 The portfolio concept related to investment management and product life cycle
management
1. considers a company’s investments projects as a whole rather than as separate and unrelated.
2. recognizes that synergistic benefits are obtained from many interrelated projects.
3. considers that mature investment projects tend to support projects at other life cycle stages.
4. a., b. and c.
Q.7 Which of the product life cycle production stages are typically evaluated in traditional cost
accounting control systems?
1. conception.
2. design.
3. development.
4. production.
Q.8 Forward pricing refers to
1. Establishing prices on new products that are high, relative to the initial unit cost, to allow for large
discounts after sales begin to lag.
2. Establishing prices on new products just above the initial unit cost to discourage competitors from
entering the market.
3. Establishing prices on new products below the initial unit cost to discourage competitors
from entering the market.
4. Establishing prices on new products prior to production.
Q.9 From the marketing life cycle perspective, a company’s profits usually peak during the
1. tartup stage.
2. growth stage.
3. maturity stage.
4. harvest stage.
Q.10 Which of the following is (are) compatible with the life cycle concept?
1. A vertical organizational structure.
2. Employee empowerment.
3. Responsibility accounting.
4. Standard costing.
Q.11 Conceptually, whole life product costs end when
1. the producer stops producing the product.
2. the producer stops providing service &; parts for the product.
3. the consumer disposes of the product.
4. the externality costs to society &; the environment end.
Q.12 The greatest opportunity for product life cycle cost reductions are in the
1. conception stage.
2. design stage.
3. development stage.
4. production stage.
5. logistical support stage.
Q.13 Which of the following costs are not considered in product life cycle management?
1. design costs.
2. development costs.
3. logistical support costs.
4. none of the above.
Q.14 What is the main objective of product life cycle analysis from the producer';s
perspective?
1. minimize life cycle externalities.
2. maximize life cycle profit.
3. minimize life cycle costs.
4. cost vs. benefit.
Q.15 What is the main objective of product life cycle analysis from the customer';s
perspective?
1. minimize life cycle externalities.
2. maximize life cycle profit.
3. minimize life cycle costs.
4. cost vs. benefit.
Q.16 What is the main objective of product life cycle analysis from society';s perspective?
1. minimize life cycle externalities.
2. maximize life cycle profit.
3. minimize life cycle costs.
4. cost vs. benefit.
Q.17 What is the producer';s strategic objective at the startup and production stage of the
product life cycle?
1. cash flow and profit.
2. profit.
3. sales growth.
4. all of the above.
Q.18 Target costing is most applicable to which stages in the product life cycle?
1. design and development.
2. development and production.
3. production and logistical support.
4. Logistical support and abandonment.
Q.19 In product life cycle management, which costs are emphasized in design and development?
1. product costs related to characteristics such as the number of product parts.
2. logistical support costs.
3. Customer consumption costs.
4. a., b. and c.
Q.20 Companies have been reluctant to use product life cycle management concepts for which of
the following reasons?
1. the emphasis in PLC management is on the long run rather than the short run payback.
2. the benefits of PLC management are not equally distributed across the organization';s functional
groups.
3. the data needed to support the PLC is difficult to obtain.
4. a., b. and c.
Q.21 The production era is best described as which of the following?
1. Customers are plentiful and easily pleased
2. Products are manufactured and promoted to customers
3. Customer needs and wants are considered with appropriate products being manufactured and promoted
4. Products are plentiful, with fierce competition for customers
Q.22 The sales era is best described as which of the following?
1. Customers are plentiful and easily pleased
2. Products are manufactured and promoted to customers
3. Customer needs and wants are considered with appropriate products being manufactured and promoted
4. Products are plentiful, with fierce competition for customers
Q.23 According to Jenkins, customer loyalty is achieved by which of the following?
1. Altering the marketing mix of products in order to increase sales to existing customers
2. Extending the range of products available for customers to purchase
3. Keeping sales volume buoyant with new customers
4. Expanding the number of customers and markets for existing products
Q.24 The marketing mix consists of which four areas?
1. Product, price, profit and promotion
2. Product, profit, promotion and provision
3. Product, promotion, potential and profit
4. Product, price, place and promotion
Q.25 In which of the following stages of the product life cycle do sales peak?
1. Introduction
2. Growth
3. Maturity
4. Saturation
Q.26 In which of the following stages of the product life cycle do profit peak?
1. Introduction
2. Growth
3. Maturity
4. Saturation
Q.27 which of the following is/are product life cycle extension strategies?
1. Market development
2. Product development
3. Unrelated diversification
4. Market development and product development
Q.28 Which of the following is stage of Product Life Cycle?
1. Introduction Stage
2. Growth stage
3. Mature stage
4. All of the above
Q.29 When a new product arrives in the market with higher quality, higher value and new
features better than its competitors. Such products are known as
1. Superior products
2. Develop superior products
3. Unique superior products
4. New products
Q.30 Which of the following is not a characteristic of “Market Introduction Stage” in PLC?
1. Demands has to be created
2. Costs are low
3. Makes no money at this stage
4. Slow sales volume to start
Q.31 developing a unique superior product with high quality, new features, and high value in use
is ……….. in new product development strategy.
1. New product development process
2. Typical reasons for failure
3. Success factors
4. Product concept
Q.32 Which thing will make the project more attractive while evaluating a new development
project using net present value analysis?
1. Market penetration
2. Sequential product development
3. Idea generation
4. Continuous improvements
Q.33 According to whom “a product lifecycle is very much similar to human life cycle.”
1. Arch Paton
2. Stanton
3. Neil Borden
4. Philip Kotler
Q.34 Increased competition leads to price decrease, increasing public awareness, sales volume
increase significantly are the characteristics of ……….. in PLC.
1. Mature stage
2. Decline stage
3. Growth stage
4. Market introduction stage
Q.35 ……….includes review of sales, profit projections and cost for a new product, to find out
whether it satisfied the company objective or not.
1. Product Development
2. Business Analysis
3. Marketing Strategy
4. Test Marketing
Q.36 In ………….all the augmentations and transformations of a product might undergo in the
failure.
1. Generic Product
2. Expected Product
3. Augmented Product
4. Potential Product
Q.37 Which concept is useful for a family of products who shares similar technology?
1. Product Platform
2. Pricing Platform
3. Process Platform
4. Distribution Platform
Q.38 Color and size of the product, brand and packaging are considered a
1. Chemical features of product
2. Physical features of product
3. Product designing
4. Product manufacture
Q.39 Which is the next stage after “Idea Generation” in “New Product Development Process”?
1. Feature specification
2. Testing
3. Development
4. idea Screening
Q.40 In “Product Life Cycle” a stage represents rapid growth of product sale knows as
1. Market introduction phase
2. Growth phase
3. Saturation phase
4. Mature phase
Q.41 The objective of ……….is to achieve better performance at a lower cost.
1. Value Analysis/Value Engineering
2. Quality Function Development
3. Effective production step
4. Continuous Improvements
Q.42 ………..Stage introduces a new product in the market.
1. Evaluation
2. Commercialisation
3. Feature specification
4. Development
Q.43 To reach forward for positioning strategy and to come back to core capabilities. Which
strategy is important in the case?
1. Differentiation strategy
2. New product strategy
3. Market strategy
4. Product development strategy
Q.44 In terms of “Product Life Cycle”, a style is a basic and distinctive mode of
1. Perception
2. Growth
3. Impression
4. Expression
Q.45 The product life cycle describes the stages a new product goes through in the _
1. introduction phase
2. test market
3. product development
4. marketplace
Q.46 During the introduction stage of the PLC sales grow slowly, and:
1. competition becomes tough
2. profit is minimal
3. more investors are needed
4. sales people are brought to push the product
Q.47 The marketing objective for the maturity stage of the PLC is to:
1. maintain brand loyalty
2. stress differentiation
3. harvest
4. deletion
Q.48 The stage of the PLC whose competitors appears is:
1. introduction
2. decline
3. competition is always there
4. growth
Q.49 The stage when the cost of gaining new buyers increases
1. preinvestment
2. Introduction
3. maturity stage
4. decline
Q.50 When a company retains the product but reduces marketing support costs it is in what
stage of the PLC
1. decline
2. maturity
3. growth
4. introduction
Q.51 A company will follow one of two strategies to handle a declining product: deletion or:
1. modification
2. harvesting
3. enhancement
4. strategic change
Q.52 How much does it take to go through a PLC?
1. 1 day to 365 days
2. 1 year to 5 years
3. 1 year for consumer products and 5 years for industrial products
4. No set time
Q.53 A PLC curve that rises rapidly then falls quickly is indication of a:
1. fashion product
2. low learning product
3. fad
4. high learning product
Q.54 The concept that explains how a product spreads through the population is called the:
1. acceptance rate
2. diffusion of innovation
3. infusion of sales
4. entry rate
Q.55 Product managers are sometimes called
1. manager of goods
2. consumer specialist
3. brand manager
4. product pusher
Q.56 Repositioning the product or product line is an attempt by the company to:
1. maximize profits
2. get more promotional support
3. help the sales of individual retail operations
4. bolster sales
Q.57 Changing the value offered up or down is an example of:
1. repositioning a product
2. changing your mind
3. decreasing overall costs
4. defensive marketing
Q.58 An organization using a name, phrase, design, symbols, or combination of these to identify
its products is
1. repositioning product lives
2. forming family units
3. trademarking products
4. branding products
Q.59 A good brand name that gives added value to the product is called:
1. brand equity
2. licensing
3. brand personality
4. generic branding
Q.60 Warranties that are written statement of liabilities that are called:
1. full warranties
2. express warranties
3. limited coverage warranties
4. strict liability warranties
Q61 – What does the term PLC stands for?
1. Product life cycle
2. Production life cycle
3. Product long cycle
4. Production long cycle
Q62 – PLC in marketing represents two main challenges. 1st an organization must be good at
developing new product to replace old ones and 2nd it must be good at _________________.
1. Functioning
2. Marketing
3. Selling
4. Adapting
Q63 – When a new product arrives in the market with higher quality, higher value and new
features better than its competitors. Such products are known as
1. Superior products
2. Develop superior products
3. Unique superior products
4. New products
Q64 – Which of the following is not a characteristic of “Market Introduction Stage” in PLC?
1. Demands has to be created
2. Costs are low
3. Makes no money at this stage
4. Slow sales volume to start
Q65 – Developing a unique superior product with high quality, new features, and high value in
use is _______ in new product development strategy.
1. New product development process
2. Typical reasons for failure
3. Success factor
4. Product concept
Q66 – Which thing will make the project more attractive while evaluating a new development
project using net present value analysis?
1. Market penetration
2. Sequential product development
3. Idea generation
4. Continuous improvement
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