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B Com Exam  >  B Com Tests  >  Principles of Marketing  >  Test: Product - 3 - B Com MCQ

Test: Product - 3 - B Com MCQ


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10 Questions MCQ Test Principles of Marketing - Test: Product - 3

Test: Product - 3 for B Com 2024 is part of Principles of Marketing preparation. The Test: Product - 3 questions and answers have been prepared according to the B Com exam syllabus.The Test: Product - 3 MCQs are made for B Com 2024 Exam. Find important definitions, questions, notes, meanings, examples, exercises, MCQs and online tests for Test: Product - 3 below.
Solutions of Test: Product - 3 questions in English are available as part of our Principles of Marketing for B Com & Test: Product - 3 solutions in Hindi for Principles of Marketing course. Download more important topics, notes, lectures and mock test series for B Com Exam by signing up for free. Attempt Test: Product - 3 | 10 questions in 10 minutes | Mock test for B Com preparation | Free important questions MCQ to study Principles of Marketing for B Com Exam | Download free PDF with solutions
Test: Product - 3 - Question 1
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What is the primary purpose of labelling on a product?

Detailed Solution for Test: Product - 3 - Question 1
Labelling on a product serves the purpose of facilitating the exchange process and avoiding confusion among competitive products. It helps consumers identify the product's contents, value, price, and other essential information, thus preventing incorrect usage or selection.
Test: Product - 3 - Question 2
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Which type of label provides detailed information about how a product is made and used, aiming to ensure customer satisfaction?

Detailed Solution for Test: Product - 3 - Question 2
An informative label provides detailed information about how a product is made, its usage instructions, and how to care for it. This type of label aims to enhance customer satisfaction by providing comprehensive information to the consumer.
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Test: Product - 3 - Question 3
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What is the main purpose of after-sales service?

Detailed Solution for Test: Product - 3 - Question 3
After-sales service is designed to satisfy customers and ensure their loyalty to the organization. It involves various processes and activities that aim to meet customer needs, resolve issues, and provide support after the product purchase.
Test: Product - 3 - Question 4
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Which of the following statements about the product life cycle is true?
Detailed Solution for Test: Product - 3 - Question 4
The growth stage of the product life cycle is indeed focused on building brand preference, increasing market share, and generating profit. During this stage, the product experiences strong sales growth as it gains more acceptance in the market.
Test: Product - 3 - Question 5
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Which stage of new product development involves turning an idea into a detailed strategy or blueprint for further testing?
Detailed Solution for Test: Product - 3 - Question 5
The stage of concept development and testing involves creating a detailed strategy or blueprint for the product idea. This concept is then tested with selected customers to gather feedback and refine the idea further.
Test: Product - 3 - Question 6
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What is the purpose of test marketing in the new product development process?
Detailed Solution for Test: Product - 3 - Question 6
Test marketing is conducted to gather actual customer feedback on the prototype of the product. This feedback helps the business make final adjustments to the product before its commercial launch, ensuring that it meets customer expectations.
Test: Product - 3 - Question 7
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What is the primary goal of product support services?
Detailed Solution for Test: Product - 3 - Question 7
The primary goal of product support services is to facilitate self-service operations. These services help customers use the product effectively and provide assistance in tasks such as installation, maintenance, and operation.
Test: Product - 3 - Question 8
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Why is after-sales service important for businesses?
Detailed Solution for Test: Product - 3 - Question 8
After-sales service is important because it enhances customer satisfaction and retention. Satisfied customers become loyal to the brand and spread positive word of mouth, which benefits the organization's reputation and revenue.
Test: Product - 3 - Question 9
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In which stage of the product life cycle does competition with similar products become more intense?
Detailed Solution for Test: Product - 3 - Question 9
The competition with similar products becomes more intense during the maturity stage of the product life cycle. At this point, multiple competitors may offer similar products, and differentiation strategies become crucial.
Test: Product - 3 - Question 10
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What is the primary purpose of labelling a product with a 'grade' label?
Detailed Solution for Test: Product - 3 - Question 10
The primary purpose of a 'grade' label is to designate adherence to regulated standards. For example, a product labeled with an 'Ag-mark' grading certifies that it meets specific quality standards set by regulatory bodies.
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Product - 3 MCQs with Answers

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