Question 1

What are the axes on the Boston Consulting Group (BCG) matrix labelled?

Accepted Answer

A)  Market share and market size 
B)  Market price and quantity demanded 
C)  Market attractiveness and market share 
D)  Historical market growth and current share 
E)  Relative market share and market growth rate 
A)  Market share and market size 
B)  Market price and quantity demanded 
C)  Market attractiveness and market share 
D)  Historical market growth and current share 
E)  Relative market share and market growth rate E

Question 2

What is the final stage of the new product development process?

Accepted Answer

A)  Business analysis 
B)  Test marketing 
C)  Idea generation 
D)  Marketing planning 
E)  Product launch 
A)  Business analysis 
B)  Test marketing 
C)  Idea generation 
D)  Marketing planning 
E)  Product launch E

Question 3

Coca Cola has an easily identified logo (its name written in a flowing script) and is usually packaged in a red can or its famously curvy bottle. What do these elements combine to form?

Accepted Answer

A)  Brand image 
B)  Brand personality 
C)  Brand identity 
D)  Brand values 
E)  Brand equity 
A)  Brand image 
B)  Brand personality 
C)  Brand identity 
D)  Brand values 
E)  Brand equity C

Question 4

The market for organic fruit is booming as more and more people try to follow a healthier lifestyle. The Green Apple Company is the UK market leader and able to command high prices for its excellent products, especially locally grown strawberries. Where are the strawberries most likely to be placed on the Boston Consulting Group (BCG) matrix?

Accepted Answer

A)  Star 
B)  Cash cow 
C)  Problem child 
D)  Question mark 
E)  Dog 
A)  Star 
B)  Cash cow 
C)  Problem child 
D)  Question mark 
E)  Dog

Question 5

What is a staple product?

Accepted Answer

A)  Office stationery 
B)  A complementary product 
C)  Something that is essential for another product to work, e.g. a keyboard for a PC 
D)  Something people always like to have and so purchase regularly, e.g. soap 
E)  A basic, unsophisticated product, e.g. paper clips 
A)  Office stationery 
B)  A complementary product 
C)  Something that is essential for another product to work, e.g. a keyboard for a PC 
D)  Something people always like to have and so purchase regularly, e.g. soap 
E)  A basic, unsophisticated product, e.g. paper clips

Question 6

Mary is getting married and she wants everything on the day to be perfect, especially the dress. What kind of product is a wedding dress?

Accepted Answer

A)  Speciality 
B)  Convenience 
C)  White goods 
D)  Accessory 
E)  Consumer-durable 
A)  Speciality 
B)  Convenience 
C)  White goods 
D)  Accessory 
E)  Consumer-durable

Question 7

Teatimes Ltd are famous for their speciality teas. They are about to introduce two new teas based on their best-selling English Breakfast blend: Welsh Afternoon tea and Scottish Nightcap tea. What kind of new products are these?

Accepted Answer

A)  Innovative 
B)  Replacement 
C)  Variant 
D)  Me-too 
E)  Re-launched 
A)  Innovative 
B)  Replacement 
C)  Variant 
D)  Me-too 
E)  Re-launched

Question 8

Visto is a much loved British drink, widely available in the UK but nowhere else. Lately sales have been falling and the big supermarkets have cut back on their orders. Which of the following is most likely to be a successful extension strategy for this well-established drink?

Accepted Answer

A)  Increasing the price 
B)  Selling it online 
C)  Exporting it to other countries 
D)  Offering the supermarkets special deals as incentives to stock it 
E)  Advertising it on the Internet 
A)  Increasing the price 
B)  Selling it online 
C)  Exporting it to other countries 
D)  Offering the supermarkets special deals as incentives to stock it 
E)  Advertising it on the Internet

Question 9

According to the GE McKinsey matrix, the best strategy for a product in a strong competitive position in a highly attractive market would be to do what?

Accepted Answer

A)  Harvest 
B)  Divest 
C)  Invest for growth 
D)  Re-position 
E)  Push 
A)  Harvest 
B)  Divest 
C)  Invest for growth 
D)  Re-position 
E)  Push

Question 10

A retailer decides to launch its own version of Marmite. What kind of new product is this?

Accepted Answer

A)  Innovative 
B)  Replacement 
C)  Variant 
D)  Me-too 
E)  Re-launched 
A)  Innovative 
B)  Replacement 
C)  Variant 
D)  Me-too 
E)  Re-launched

What are the axes on the Boston Consulting Group (BCG) matrix labelled?

What is the final stage of the new product development process?

Coca Cola has an easily identified logo (its name written in a flowing script) and is usually packaged in a red can or its famously curvy bottle. What do these elements combine to form?

What is a staple product?

Mary is getting married and she wants everything on the day to be perfect, especially the dress. What kind of product is a wedding dress?

Teatimes Ltd are famous for their speciality teas. They are about to introduce two new teas based on their best-selling English Breakfast blend: Welsh Afternoon tea and Scottish Nightcap tea. What kind of new products are these?

Visto is a much loved British drink, widely available in the UK but nowhere else. Lately sales have been falling and the big supermarkets have cut back on their orders. Which of the following is most likely to be a successful extension strategy for this well-established drink?

According to the GE McKinsey matrix, the best strategy for a product in a strong competitive position in a highly attractive market would be to do what?

A retailer decides to launch its own version of Marmite. What kind of new product is this?

Marketing Today

Marketing Environment

Buyer Behaviour

Market Segmentation, Targeting and Positioning

Marketing Research

Service Products

Promotion

Place

Price

Building Brands With the Marketing Mix

Marketing Planning

Filters

Exam 6: Product

What are the axes on the Boston Consulting Group (BCG) matrix labelled?

What is the final stage of the new product development process?

Coca Cola has an easily identified logo (its name written in a flowing script) and is usually packaged in a red can or its famously curvy bottle. What do these elements combine to form?

What is a staple product?

Mary is getting married and she wants everything on the day to be perfect, especially the dress. What kind of product is a wedding dress?

Teatimes Ltd are famous for their speciality teas. They are about to introduce two new teas based on their best-selling English Breakfast blend: Welsh Afternoon tea and Scottish Nightcap tea. What kind of new products are these?

Visto is a much loved British drink, widely available in the UK but nowhere else. Lately sales have been falling and the big supermarkets have cut back on their orders. Which of the following is most likely to be a successful extension strategy for this well-established drink?

According to the GE McKinsey matrix, the best strategy for a product in a strong competitive position in a highly attractive market would be to do what?

A retailer decides to launch its own version of Marmite. What kind of new product is this?

Marketing Today

Marketing Environment

Buyer Behaviour

Market Segmentation, Targeting and Positioning

Marketing Research

Service Products

Promotion

Place

Price

Building Brands With the Marketing Mix

Marketing Planning

Filters