1) The first step in new product development is concept testing. a) TRUE b) FALSE 2) Companies can generate new product ideas through internal and external sources. a) TRUE b) FALSE 3) Test marketing helps a company evaluate the feasibility of a new product before a full launch. a) TRUE b) FALSE 4) Commercialization is the process of eliminating weak product ideas. a) TRUE b) FALSE 5) The introduction stage of the product life cycle has the highest profits. a) TRUE b) FALSE 6) The maturity stage lasts longer than the other stages of the product life cycle. a) TRUE b) FALSE 7) New product failure is usually due to high marketing budgets. a) TRUE b) FALSE 8) Idea screening is an important step in eliminating non-viable product ideas. a) TRUE b) FALSE 9) A prototype is a detailed version of a product that is ready for commercialization. a) TRUE b) FALSE 10) Market modification is a strategy used in the decline stage of the PLC. a) TRUE b) FALSE 11) Price is the only element in the marketing mix that generates revenue. a) TRUE  b) FALSE 12) Value-based pricing is determined primarily by production costs. a) TRUE  b) FALSE 13) Cost-plus pricing involves adding a fixed percentage markup to the product's cost. a) TRUE  b) FALSE 14) Market-skimming pricing involves setting an initially low price to attract customers. a) TRUE  b) FALSE 15) Break-even pricing is used to determine the minimum price needed to cover costs. a) TRUE  b) FALSE 16) Market-penetration pricing is used when a company wants to attract a large customer base quickly. a) TRUE  b) FALSE 17) Captive-product pricing applies when the main product requires additional items to function. a) TRUE  b) FALSE 18) Price elasticity of demand measures how competitors respond to pricing changes. a) TRUE  b) FALSE 19) Product bundle pricing encourages customers to buy individual items separately. a) TRUE  b) FALSE 20) Psychological pricing uses customer perception to set prices strategically. a) TRUE  b) FALSE 21) Seasonal pricing involves keeping prices fixed throughout the year. a) TRUE  b) FALSE 22) Price discrimination means charging different prices to different customer segments. a) TRUE  b) FALSE 23) Competitor-based pricing is when a company sets its prices based on production costs only. a) TRUE  b) FALSE 24) Dynamic pricing is commonly used in industries like airlines and e-commerce a) TRUE  b) FALSE 25) By-product pricing involves selling unwanted materials from production at a profit a) TRUE  b) FALSE 26) Optional-product pricing involves selling the main product with additional accessories at an extra cost. a) TRUE  b) FALSE 27) Price floors prevent companies from charging extremely low prices. a) TRUE  b) FALSE 28) Market penetration pricing is most effective in a price-sensitive market. a) TRUE  b) FALSE 29) The break-even point is where total revenue is higher than total costs. a) TRUE  b) FALSE 30) Skimming pricing works best when competitors can easily copy the product. a) TRUE  b) FALSE 31) A supply chain consists of only the manufacturer and the final customer. a) TRUE  b) FALSE 32) Marketing channels help move products from producers to consumers. a) TRUE  b) FALSE 33) A direct marketing channel has one or more intermediaries. a) TRUE  b) FALSE 34) Upstream partners supply raw materials and components to manufacturers. a) TRUE  b) FALSE 35) The value delivery network includes only the company and its suppliers. a) TRUE  b) FALSE 36) Channel members add value by making goods available at the right place and time. a) TRUE  b) FALSE 37) A conventional distribution channel consists of unified channel members working together a) TRUE  b) FALSE 38) A corporate VMS involves a single company controlling the supply chain. a) TRUE  b) FALSE 39) A contractual VMS relies on agreements between independent channel members. a) TRUE  b) FALSE 40) Franchise systems are a type of administered vertical marketing system. a) TRUE  b) FALSE 41) Multichannel distribution systems use only a single retail channel. a) TRUE  b) FALSE 42) Intensive distribution is used for products like toothpaste and snacks. a) TRUE  b) FALSE 43) Exclusive distribution is typically used for luxury and high-end products. a) TRUE  b) FALSE 44) Selective distribution provides a balance between intensive and exclusive strategies. a) TRUE  b) FALSE 45) Marketing logistics involves only transportation. a) TRUE  b) FALSE 46) Warehousing is a key function of supply chain management. a) TRUE  b) FALSE 47) JIT (Just-in-Time) logistics minimizes inventory holding costs. a) TRUE  b) FALSE 48) Supply chains should avoid intermediaries to maximize efficiency a) TRUE  b) FALSE 49) Retailers and wholesalers are examples of intermediaries in marketing channels a) TRUE  b) FALSE 50) Efficient logistics systems can help reduce costs and improve customer satisfaction. a) TRUE  b) FALSE 51) Retailing involves selling goods directly to businesses. a) TRUE  b) FALSE 52) Online shopping is a form of non-store retailing. a) TRUE  b) FALSE 53) Limited-service retailers provide full customer support. a) TRUE  b) FALSE 54) Department stores sell only one type of product. a) TRUE  b) FALSE 55) Superstores sell both food and non-food items. a) TRUE  b) FALSE 56) Convenience stores focus on high-end luxury products. a) TRUE  b) FALSE 57) Discount stores offer lower prices by maintaining higher sales volume. a) TRUE  b) FALSE 58) Factory outlets sell brand-name products at reduced prices. a) TRUE  b) FALSE 59) Retail franchises are independently owned but operate under an established brand. a) TRUE  b) FALSE 60) Wholesaling focuses on selling small quantities directly to consumers a) TRUE  b) FALSE 61) Merchant wholesalers take ownership of the products they sell. a) TRUE  b) FALSE 62) Brokers and agents hold inventory before selling products. a) TRUE  b) FALSE 63) Cash-and-carry wholesalers require immediate payment from customers. a) TRUE  b) FALSE 64) Rack jobbers manage product displays in retail stores. a) TRUE  b) FALSE 65) Drop shippers handle inventory directly a) TRUE  b) FALSE 66) Truck wholesalers focus on perishable goods like dairy and fresh produce a) TRUE  b) FALSE 67) Retailing and wholesaling play the same role in the supply chain a) TRUE  b) FALSE 68) Wholesalers help manufacturers distribute goods more efficiently. a) TRUE  b) FALSE 69) Retailers often buy products directly from manufacturers without wholesalers. a) TRUE  b) FALSE 70) Retailers and wholesalers both play a role in the distribution process a) TRUE  b) FALSE 71) Advertising is a non-paid form of promotion. a) TRUE  b) FALSE 72) Sales promotions are long-term strategies to build brand loyalty. a) TRUE  b) FALSE 73) Personal selling is more cost-effective than advertising for reaching a large audience. a) TRUE  b) FALSE 74) Public relations activities aim to build a positive brand image. a) TRUE  b) FALSE 75) Direct marketing allows companies to interact directly with customers a) TRUE  b) FALSE 76) Coupons, rebates, and discounts are examples of sales promotions a) TRUE  b) FALSE 77) Press releases are commonly used in advertising campaigns. a) TRUE  b) FALSE 78) Direct mail is a common tool for direct marketing. a) TRUE  b) FALSE 79) Integrated Marketing Communications (IMC) ensures all marketing messages are consistent a) TRUE  b) FALSE 80) Personal selling is less effective for complex products that require customer understanding. a) TRUE  b) FALSE 81) Sponsorships and press conferences are examples of public relations efforts. a) TRUE  b) FALSE 82) Television advertising is a direct marketing technique. a) TRUE  b) FALSE 83) Reminder advertising is used to keep a brand in the minds of consumers a) TRUE  b) FALSE 84) A major disadvantage of advertising is that it can be expensive. a) TRUE  b) FALSE 85) Public relations directly increases product sales like advertising does. a) TRUE  b) FALSE 86) Sales promotion techniques such as buy-one-get-one-free are meant to drive immediate sales. a) TRUE  b) FALSE 87) Digital marketing is considered a part of direct marketing. ( a) TRUE  b) FALSE 88) Personal selling is primarily used for mass marketing strategies. a) TRUE  b) FALSE 89) A company’s PR strategy is only used during crises. a) TRUE  b) FALSE 90) Advertising can be used for brand awareness, persuasion, and customer retention a) TRUE  b) FALSE

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