1. Unit 3 Review Objs 3.01 – 3.05 Review Questions

2. Why might profits sometimes decline for the company that first introduced the product during the growth stage of a product's life cycle? A. Because sales decline in the growth stage B. Because marketing strategies are adjusted C. Because competitors have entered the market D. Because production is more efficient

4. Why is the quality level of a product an important product/service management decision? A. It identifies a product's brand. B. It reflects the image of the business. C. It protects the consumers. D. It refers to the way the product works.

6. Why does a company need to know what stage of the product life cycle its products are in?
A. To prevent imitators from entering the market
B. To find new uses for the product
C. To predict the length of the life cycle
D. To adapt its marketing strategies

8. Which of the following is an unethical situation in product/service management? A. Vincent Electronics discontinues production of a slow- moving solar calculator B. Travis Manufacturing uses recycled materials for its product packaging. C. Donna's Dress Boutique obtains deep discounts from a new clothing designer. D. The Simpson Company embellishes the information that it places on its product labels

10. Which of the following technological tools helps a business's employees simultaneously access the same information about the business's products? A. Memory card B. Micro-portal C. Intranet D. Generator

12. Which of the following is a way that a business can extend the life cycle of an established product? A. By promoting the product to current users B. By finding new uses for the product C. By restricting distribution D. By attracting consumers who are innovators