571. The fourth stage of the stage gate system for new product development is:
Concept development and testing
Prototype testing
Production
Ideation and Screening
Correct answer: (B) Prototype testing
572. Which of the following is not an advantage experienced by pioneers of new product?
Pioneers are able to create high brand recall
Pioneers take advantage of customer inertia as the customers continue to purchase the pioneer product
Pioneers sometime launch products before the consumers are ready to accept the product
Pioneers achieve economies of scale more quickly than followers
Correct answer: (C) Pioneers sometime launch products before the consumers are ready to accept the product
573. Desirability, performance and communicability are related to ______________ characteristic of a brand image.
Strong
Uniqueness
Favorability
None of these
Correct answer: (C) Favorability
574. Right branding increases ______________ of the product, which should be more than that of the generic product.
Market Share
Profit
Sales
Value
Correct answer: (D) Value
575. Advertising and distribution are examples of ______________ type of measure which are used for brand health check.
Perceptual
Profitability
Purchasing and sales
Marketing support
Correct answer: (D) Marketing support
576. A value-based pricing strategy involves which of the following?
The pricing is based on amount of units that can be sold
Setting price based on buyers' perceptions of value rather than on seller's cost
The company adds up the costs of making the product and sets a price that covers the cost plus target profit
None of the above
Correct answer: (B) Setting price based on buyers' perceptions of value rather than on seller's cost
577. Which of the following will increase the value of index of retail saturation?
Decrease in number of customers in trading area
Decrease in average expenditure per person for the product in the trading area
Decrease in total selling space allocated to related products in trading area
None of these
Correct answer: (C) Decrease in total selling space allocated to related products in trading area
578. ______________ focusses on two way communication and involvement with consumers through personalizing messages and tracking activity of online consumers.
Interactive marketing
Content marketing
Location based marketing
None of these
Correct answer: (A) Interactive marketing
579. Identify which is an intangible component of a hair cutting salon:
Imported hair care products
Skill of the employee
Certificate of excellence displayed on the counter
None of these
Correct answer: (B) Skill of the employee
580. The promotional goals a firm develops might be aimed at all of the following, EXCEPT:
Increasing use of product
Increasing awareness of the product
Identifying potential market of the product
All of these may be the aim of the company
Correct answer: (C) Identifying potential market of the product