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- 1. Multiple Choice
What is a product?
Something that can't be touched
A physical item that can be touched which is usually to be sold by the business
Something that is free
something that a business needs
- 2. Multiple Choice
What is a service?
Something that can't be touched
A physical item that can be touched which is usually to be sold by the business
Something that is free
something that a business needs
- 3. Multiple Choice
What stage of the Product Life Cycle is the product not on sale
Growth
Maturity
Development
Decline
- 4. Multiple Choice
What stage of the Product Life Cycle are the sales rapidly rising
Growth
Maturity
Development
Decline
- 5. Multiple Choice
What stage of the Product Life Cycle do the sales reach saturation point
Growth
Maturity
Development
Decline
- 6. Multiple Choice
At what stage is Galaxy chocolate on the product life cycle
Growth
Maturity
Development
Decline
- 7. Multiple Choice
At what stage is Pokemon Go on the product life cycle
Growth
Maturity
Development
Decline
- 8. Multiple Choice
At which stage of the Product Life Cycle are costs the highest?
Introduction
Growth
Development
Maturity
- 9. Multiple Choice
At which stage of the Product Life Cycle does market saturation occur.
Introduction
Growth
Development
Maturity
- 10. Multiple Choice
At which stage of the Product Life Cycle is the iphone 11 at
Introduction
Growth
Development
Maturity
- 11. Multiple Choice
Which of the following is an example of a variable cost for a coffee shop?
Buildings Insurance
Interest on a start-up loan
Milk
Newspaper advertising
- 12. Multiple Choice
Which of the following is a word which describes a growing economy?
Boom
Decline
Recession
Slump
- 13. Multiple Choice
Which of the following is a legal external factor which could affect product development?
Copyright challenege
Economic recession
Interest rate rise
Launch of a new mobile operating system
- 14. Multiple Choice
Which of the following tasks would be carried out by the Marketing function of a business?
Allocating financial resources
Finding out customer opinions
Planning production
Selecting new employees
- 15. Multiple Choice
A restaurant has created a new pizza dough recipe for their pizzas. Which ONE of the following is a legal issue they need to consider to protect their new pizza dough recipe?
Business Plan
Discrimination
Inflation
Patent
- 16. Multiple Choice
Which ONE of the following is an external factor that could impact on product development?
Departmental communication
New legislation
Staffing costs
Store layout
- 17. Multiple Choice
Which of the following correctly represents the stages of the product lifecycle?
Development, Introduction, Growth, Maturity, Decline
Development, Introduction, Maturity, Growth, Decline
Introduction, Development, Growth, Maturity, Decline
Maturity, Development, Introduction, Growth, Decline
- 18. Multiple Choice
Which of the following is a typical benefit to the business of the growth stage of the product lifecycle?
Competition increases
Profit margins improve
Sales volumes peak
Highest price is set
- 19. Multiple Choice
Which of the following would be considered an 'extension strategy'?
Advertising a weekend sale deal on an existing range of tablet cases
Applying competitive pricing to a new range of smart watches
Creating new packaging for an existing range of video games
Developing a customer service strategy to be used by all staff
- 20. Multiple Choice
Which of the following would help to achieve product differentiation for a new business selling school trainers?
A marketing campaign aimed at school children
Offering a range of sizes and colours
Producing personalised trainers with the name printed on them
Setting up an online-only business to reduce fixed costs
- 21. Multiple Choice
Which of the following is not a stage of the product lifecycle?
Development
Growth
Intorduction
Recession
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