What is the primary purpose of labelling on a product?

To enhance the branding of the product.

To facilitate the exchange process and avoid confusion.

To provide after-sales service to customers.

To highlight the product's manufacturing process.

What is the main purpose of after-sales service?

To satisfy customers and ensure their loyalty.

To introduce new products in the market.

Which of the following statements about the product life cycle is true?

The decline stage is characterized by increasing sales and strong growth.

The growth stage focuses on defending market share and maximizing profit.

The introduction stage sees prices maintained as demand increases.

The maturity stage involves building product awareness.

Which stage of new product development involves turning an idea into a detailed strategy or blueprint for further testing?

Concept development and testing.

Business strategy analysis and development.

What is the purpose of test marketing in the new product development process?

To build brand preference and increase market share.

To analyze competition and pricing strategies.

To gather actual customer feedback and make final adjustments.

What is the primary goal of product support services?

To facilitate self-service operations.

To encourage customers to buy on credit.

Why is after-sales service important for businesses?

It generates new product ideas.

It helps build brand awareness.

It enhances customer satisfaction and retention.

It focuses on product pricing strategies.

What is the primary purpose of labelling a product with a 'grade' label?

To provide detailed information about the product's features.

To encourage self-service operations.

To highlight the product's manufacturing process.

To designate adherence to regulated standards.

Product - 3 Free MCQ Practice Test with Solutions

	Principles of Marketing 39 videos\|48 docs\|16 tests

	Principles of Marketing 39 videos\|48 docs\|16 tests

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