1. Changing one or more of a product's characteristics.

For this approach to be

effective, several conditions must be met. Product Modification

2. It is the process of systematically gathering, recording, and analyzing data

concerning a particular marketing problem. Marketing Research

3. A review of the sales, costs, and profit projections for a new product to find out
whether these factors satisfy the company's objectives. Business Analysis

4. Testing new product concepts with a group of target consumers to find out if the
concepts have strong consumer appeal. Concept Testing

5. It is an idea for a possible product that the company can see itself offering to
the market (company coming up with new compact car) vague. Product Idea

6. What is the first step in new product development? Idea Generation

7. An early model or sample of a product used to test a concept describes which

term? Prototype

8. The new product development process usually starts with Idea Generation.

9. A ________ is the way consumers perceive an actual or potential product.

Product Image

10.What is product differentiation? Strategy to offer unique features for

competitive advantage

11.Which of the following is the most important driver of food product

development? Consumer demands

12.It refers to original products, product improvements, product modifications, and

new brands developed from the firm's own research and development. New
product development

13.It is a detailed version of the idea stated in meaningful consumer terms (midsize
sporting compact car appealing to young singles). Product Concept

14.Augmented Product: A core product with additional benefits or services

15.An alternative to new product development would be? Acquiring new
products

16. This is the currently accepted prevailing style. Fashion

17. Inviting broad communities of people—customers, employees, independent

scientists and researchers, and even the public at large—into the new-product
innovation process. Crowdsourcing

18. If a product passes both the concept test and the product test, the next step is
most likely to be ________. Test Marketing

19. _______ is the stage where a product and its proposed marketing program are
introduced into realistic market settings. Test Marketing

20. By buying a whole company, a patent, or a license to produce someone else's

product. Acquisition

21. How would you best describe CONCEPT GENERATION? The thinking stage

22. Creates & maintains a certain concept of the product in the customer's mind;
create perception. Positioning

23. The development of a new product or improved product idea is called

Innovation

24. Internal sources of new product ideas for a company include its Employees.

25. It refers to sources outside the company such as customers, competitors,

distributors, suppliers, and outside design firms. External sources

26. Which items are in the Marketing Mix? Price, Product, Promotion and
Placement.

27. Define products in marketing terms. Ways a business satisfies needs with
either goods/ services.

28. Promotion mix in marketing consists of research, product development,

packaging and branding. FALSE

29. Does marketing play marketing play major part in our economy? YES
30. When the product can only be found in a few places. EXCLUSIVE
DISTRIBUTION

31. In marketing mix, the “p” for distribution is PLACE.

32. Product development uses information provided by all of the other marketing
activities. TRUE

33. The four Ps of marketing include product, price, place and PROMOTION.

34. Situation in which the customer will buy only a certain brand of a product.
BRAND LOYALTY

35. The first stage in the product development process is known as what?
CONCEPT GENERATION

36. Which of the following marketing strategies aims to raise consumer awareness
of a product? PROMOTION

37. What is marketing? PROCESS OF IDENTIFYING ANTICIPATING AND

SATISFYING customers.

38. What is a product? ANYTHING OFFERED TO A MARKET THAT SATISFIES A

NEED.

39. Product life cycle: INTRO-GROWTH-MATURITY-DECLINE

40. A business redesigns its product to meet environmental regulations which

marketing strategy? PRODUCT

41. Actions marketers take to create a certain image of a product in the minds of
customers. POSITIONING

42. The four P’s of the marketing mix are product, position, promotion and price.
FALSE

43. SK Snacks is a product using the same packaging, pricing and marketing
globally, this is STANDARDIZATION

44. A physical characteristic of a tangible product. FEATURE

45. Which of the following is not one of the four variables in marketing mix?
PAYMENT

46. Positioning is the creation of an image for a product in the minds of customers for
competitive products and services. TRUE

47. The need-satisfying quality of a product is product benefit. TRUE

48. Selling is marketing but marketing is not selling. TRUE

49. Which of the following best describes marketing? SATISFYING CUSTOMERS

NEEDS TO ENSURE LONG TERM SUCCESS

50. Product, place, promotion and price are the four major variables in a firm’s
marketing mix. TRUE

51. Packaging is part of which element of the marketing mix. PRODUCT

52. Which is the only element of the marketing mix that makes profit? PRICE

53. The marketing mix of a business is sometimes called the 4Ps of marketing.
TRUE

54. Business products include those products used in making new products. TRUE

55. Target market is when product adapts to your consumers. TRUE

56. Marketing mix is when only price and promotion collaborate. FALSE

57. Mark or design place on a product to distinguish it from other products. BRAND

58. The name given to a product that consists of words, numbers, or letters that can
be spoken. BRAND NAME

59. The customer is a part of the marketing mix and should be the target of all
marketing efforts. TRUE

60. Although the customer should be the target of all marketing efforts, customer are
not part of a marketing mix. TRUE
61. According to the text “MASK MARKETING”, a firm that sells a service rather than
a physical good does not have a product. FALSE

62. Marketing mix is strategies used by a company to sell its brand and products to
the market. TRUE

63. Secondary Research is the original research conducted for a specific marketing
situation. FALSE

64. The place decisions are concerned with getting the right product to the target
market at all the right time. TRUE

65. Is core product tangible or intangible? INTANGIBLE

66. Shoes is a durable product. FALSE

67. How many stages in product life cycle? 5

68. Defining your core means identifying your primary customer base. FALSE

69. A washing machine is a shopping product? TRUE

70. A Redpath granulated sugar is a specialty product. FALSE

71. Coke in cans are non-durable product. TRUE

72. A product that cannot be stored for later use. PERISHABLE

73. In some product categories, one brand becomes so powerful that it replaces the
generic category name. TRUE

74. The physical product or service is known as: TANGIBLE PRODUCT

75. The price of a product is a function of its value. YES

76. Boy with tuxedo, is a style of CLASSIC.

77. Fashion is THE PREVAILING STYLE AT ANY GIVEN TIME.

78. A fashion “fad” describes SHORT LIVED FASHIONS.

79. What does fashion means? TRENDY, WHAT’S IN STYLE

80. A PS4 is a fad. FALSE

81. When a fashion trend is going out style, this is called DECLINE

82. Style of an earlier time period that comes back into fashion. RETRO

83. A specific version of a style. DESIGN

84. Which of these are not stages of a product life cycle? DECREASE

85. What is part of the product life cycle? GROWTH

86. Which of these is not a stage of product life cycle? EXTENSION

87. Which is not one of the four stages to the product life cycle? PRICING

88. This is the currently accepted prevailing style. FASHION

89. What is the second stage of the product life cycle? GROWTH

90. What is in a product concept statement? NEW PRODUCT FEATURES AND

BENEFITS OVER EXISTING PRODUCTS

91. An early model or sample of a product used to test a concept describes which
term? PROTOTYPE

92. A product is something that you consume. TRUE

93. What is a business concept? AN IDEA FOR A BUSINESS

94. Explain the concept of marketing strategies. MARKETING STRATEGIES ARE

USED TO DEVELOP A GOOD OR SERVICE

95. How would you best describe concept generation? THE THINKING STAGE

96. How would you best describe product testing? TIME TO TEST THE PRODUCT
WITH THE CONSUMER

97. How would you best describe concept screening? TIME TO CONSIDER THOSE
IDEAS
98. How would you best describe product launch? TIME TO GET IT ON THE
SHELVES

99. Data, facts or characteristics of a product or service. FEATURE

100. Creates and maintains a certain concept of the product in the customer’s
mind; create perception. POSITIONING

101. The process of getting the product to the customer. DISTRIBUTION

102. What is the final stage of the product development process known as
LAUNCH.

103. Which element of the 4ps involves distribution of the product? PLACE

104. The first stage in the product development process is known as what?
CONCEPT GENERATION

105. If a business offers a good product, marketing is not necessary. FALSE

106. The marketing concept is satisfying consumer wants and a needs while
achieving company goals. TRUE

107. Supply-economic concept that describes the total amount of a specific

good or service that is available to consumers. TRUE

108. Positioning is the creation of an image for a product in the minds of

customers for competitive products/ services. TRUE

109. Customer orientation, company commitment and company goals are not
elements of marketing concept? FALSE