#1
What is the concept of the product life cycle in marketing?
It refers to the stages a product goes through from development to decline.
It signifies the time it takes for a product to be manufactured.
It denotes the number of units a product sells in a given period.
It represents the range of features a product offers.
#2
Which of the following is NOT a stage in the product life cycle?
Introduction
Growth
Maturity
Saturation
#3
What is market segmentation in product marketing?
Dividing the market into small homogeneous groups based on demographics, behavior, or preferences.
Combining various markets into one large market segment.
Selecting only one market segment to target for marketing efforts.
Identifying the most profitable market segment and focusing exclusively on it.
#4
What is the purpose of a SWOT analysis in product marketing?
To identify the strengths and weaknesses of competitors.
To evaluate the external opportunities and threats facing a product or company.
To assess the financial performance of a product.
To determine the target market for a product.
#5
What is the purpose of a value proposition in product marketing?
To highlight the product's unique features.
To communicate the product's price.
To outline the benefits the product offers to customers.
To describe the company's history.
#6
Which of the following is NOT a component of the marketing mix?
Product
Price
Promotion
Production
#7
What is the purpose of market research in product marketing?
To analyze competitors' products.
To create marketing slogans.
To gather information about customers and market trends.
To set the price of the product.
#8
What is disruptive innovation?
An innovation that enhances existing products.
An innovation that introduces a new product or service that creates a new market.
An innovation that is easy to copy by competitors.
An innovation that only serves a niche market.
#9
What is the 'chasm' in product marketing and innovation?
A gap between production and distribution.
A barrier between early adopters and the early majority in the adoption of a new product.
A stage in the product life cycle where sales dramatically decrease.
A term for the marketing strategy used to promote luxury products.
#10
What is the 'first-mover advantage' in product innovation?
The advantage gained by being the first to enter a new market.
The advantage of having the largest market share in a mature market.
The advantage of launching a product with advanced features.
The advantage of being the first to copy a successful innovation.
#11
What is A/B testing in product marketing?
Testing a product in two different markets simultaneously.
Testing two different versions of a product or marketing campaign to see which performs better.
Testing a product before and after its launch to assess its success.
Testing a product's compatibility with different operating systems.
#12
What is the role of customer feedback in product innovation?
To increase production costs.
To delay product launches.
To validate ideas and identify areas for improvement.
To decrease market share.
#13
What is the difference between incremental innovation and radical innovation?
Incremental innovation involves small improvements to existing products, while radical innovation introduces entirely new products or services.
Radical innovation involves small improvements to existing products, while incremental innovation introduces entirely new products or services.
Incremental innovation is cheaper than radical innovation.
Radical innovation is more predictable than incremental innovation.
#14
What is the role of creativity in product innovation?
To copy competitors' ideas.
To maintain the status quo.
To generate new and unique ideas for products or services.
To limit experimentation.
#15
Which of the following is NOT a characteristic of successful innovation?
Relevance
Uniqueness
Complexity
Compatibility
#16
What is the concept of 'blue ocean strategy'?
A strategy focused on competing in existing markets by improving product features.
A strategy of creating uncontested market space by making competitors irrelevant.
A strategy of targeting only the most profitable customer segments.
A strategy of aggressively expanding market share by undercutting competitors' prices.
#17
What is the role of a product manager in the innovation process?
To design the product.
To set the price of the product.
To oversee the development and launch of the product.
To handle customer complaints.
#18
What is the role of cross-functional teams in product innovation?
To limit collaboration between different departments.
To ensure that all employees work in the same department.
To encourage collaboration between employees from different departments to drive innovation.
To prevent communication between different departments.
#19
What is the purpose of concept testing in product development?
To manufacture prototypes of the product.
To assess the feasibility of the product idea.
To conduct market research.
To finalize the product design.