Introducing New Market Offerings - MCQs with answers - Part 3

Introducing New Market Offerings - MCQs with answers - Part 3

Managing the development process - Concept to strategy

1. The possible product that company might be able to offer to the market is

a) A product idea
b) A product concept
c) A product launch
d) None of the above

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2. A product concept is a detailed version of the idea expressed in

a) Consumer terms
b) Companies terms
c) Both a & b
d) None of the above

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3. Consumers buy products ideas and not product concepts.

a) True
b) False

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4. Producing a powder to add to milk is

a) A product idea
b) A product concept
c) A product launch
d) None of the above

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5. A tasty snack for children to consume as midday refreshment is

a) A product idea
b) A product concept
c) A product launch
d) None of the above

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6. Perceptual maps offer _________ portrayals of market situations.

a) Quantitative
b) Qualitative
c) Both a & b
d) All of above are false

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7. __________ indicates presenting the product concept.

a) Brand testing
b) Concept testing
c) Conjoint analysis
d) None of the above

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8. A procedure for deriving the utility value that clients attach to varying levels of products features is

a) Brand testing
b) Concept testing
c) Conjoint analysis
d) None of the above

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9. In the first part of marketing strategy development the focus is on

a) The planned price, marketing budget and distribution strategy for the first year

b) Focus on the target market behavior, structure and size & the planned product positioning

c) Focuses on the long-run sales and profit objectives and marketing-mix strategy

d) None of the above

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10. The second part of marketing strategy development focuses on

a) The planned price, marketing budget and distribution strategy for the first year

b) Focus on the target market behavior, structure and size & the planned product positioning

c) Focuses on the long-run sales and profit objectives and marketing-mix strategy

d) None of the above

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