University:
Boise State University
Course:
BUSMGT 315 | Foundations Of Management
Academic year:

2023
Views:

272

Pages:

2
Author:

forderveu0hk

1. When people consider purchasing a good, they: A. are responding to the market forces of supply and demand. B. are most influenced by the price of the product or service. C. will not consider goods that require them to make a special effort to purchase. D. may evaluate and compare a variety of factors. 2. D 3. Which of the following refers to a group of products offered by a firm that are physically similar or are intended for a similar market? A. product matrix B. product line C. product mix D. total product offer 4. B 5. The combination of product lines offered by a manufacturer is called the firm's: A. product matrix. B. product mix. C. total product offer. D. product portfolio. 6. B 7. The best product development strategy for most firms is to: A. develop a small number of products that achieve market success and stick with them, because constantly changing old products (or introducing new ones) can confuse and frustrate customers. B. maintain one product line while adding regularly to that product line over time to sustain customer interest. C. constantly monitor consumer wants and needs and be willing to develop new products and adapt policies and services as those consumer needs begin to change. D. focus on the actual product or service and don't worry too much about factors such as image, price, and service. 8. C