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Which of the following is a word which describes a growing economy?
Which of the following is a legal external factor which could affect product development?
Interest rate rise
Launch of a new mobile operating system
Which ONE of the following is an external factor that could impact on product development?
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?
Which of the following is an aspect of the design mix model that contributes to the successful design of a new handbag?
A design which has an appealing appearance
A design which is cheaply priced
A design which is produced by a computer program
A design which is widely advertised
Which of the following is an economic external factor that could affect product development?
Change in pricing
Change in taxation
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
A shoe shop is on a retail park that has two other shoe shops. It is moving to a retail park with only clothes and household goods shops. This will help the business to achieve:
lower production costs
reduced variable costs
Which of the following is a typical benefit to the business of the growth stage of the product lifecycle?
Profit margins improve
Sales volumes peak
Highest price is set
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
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
Which of the following is not a stage of the product lifecycle?
Which of the following is an example of a technological development which may affect product development?
A booming economy
Launch of new production machinery
New product safety standards
Recession in the economy
Which of the following is an example of a method to ‘add value’ to a product?
Advertise the product
Improve the specification of the product
Increase the price of the product
Run a consumer trial
Which of the following is a legal issue which could affect product development?
Changes in customer needs
Changes in taxation
Which of the following stage of the product lifecycle is shaded and labelled ‘X’ on the diagram?
Which of the following is a stage of the product lifecycle
Advertising and changing the packaging of a product are both examples of which of the following?
The graph shows the sales revenue generated by a business. The figures for 2020 and 2021 are forecasts.
Which stage of the product lifecycle is the business at by the end of 2019?
Which of the following is used to stop a competitor copying a new product idea?
Registering with HMRC