Product Management

BAMM6305 Product Management
(Prelim Q1,Q2&PreLim Exam)

The subject PRODUCT MANAGEMENT will provide the student with a general overview about the role played by the product and the product range in the marketing strategy and operational scenarios. With this program the student will go across all relevant items on product policy, from the very simple concept , such as the product as it is in today´s business, to the more complex developments as the new products launch and development. Product will be linked with all marketing variables in order to give the students a whole view of today´s competitive markets.

Question 1

Complete

Mark 1.00 out of 1.00

Flag question

Question text

____________________ is a matrix organizational structure in which a product manager is charged with the success of a product or product line but has no direct authority over the individuals producing and selling the product.

Select one:

a.

Human Resource Management

b.

Marketing Management

c.

Product Management

Question 2

Complete

Mark 1.00 out of 1.00

Flag question

Question text

If you have specific groups of customers who require unique products, or if you must combine standard products in unique ways to meet the Answer of these customer groups, consider segment management as an alternative (or in addition) to product management.

Question 3

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Global companies will have cross-border product business teams responsible for leveraging capabilities throughout the world. These will be “virtual teams,” which do not meet regularly on a face-to-face basis and are not located in the same country.

Select one:

True

False

Question 4

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product manager must be persuasive  & able to influence the management.

Select one:

True

False

Question 5

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product managers are used in all types of ______________ from consumer packaged goods to services (such as financial institutions) to industrial companies (such as original equipment manufacturers, component suppliers, and after-market firms) to nonprofit organizations (such as hospitals).

Select one:

a.

industries

b.

companies

c.

sectors

Question 6

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Answer management involves looking at a line of products as it might be evaluated by a market segment. To accomplish this, product managers might need to work together as a category team.

Question 7

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Common criticism of the Answer structure is that it is a “fast-track” or “stepping-stone” position, overemphasizing short-term results.

Question 8

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product design is a corporate process of designing and commercializing new products.

Select one:

True

False

Question 9

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Other job titles for product manager could include:

Select one:

a.

brand manager

b.

industry manager

c.

customer segment manager

d.

all of the above

Question 10

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Consumer goods product managers will find it necessary to be more involved with the trade as retailers gain more knowledge of and “influence” with consumers.

Select one:

True

False

Question 11

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Market & share forecasting, budgeting, coordinating with production, executing promotion, packaging, etc. is the role of associate Product Manager.

Select one:

True

False

Question 12

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Yet all of the tools and techniques espoused by management gurus have not replaced the importance of a solid organizational structure ________________________to guide an organization in accomplishing corporate goals.

Select one:

a.

organizational structure

b.

management principles

c.

corporate strategies

d.

marketing tools

Question 13

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Marketing management is the holistic job of product managers, including planning, forecasting, and marketing products or services.

Select one:

True

False

Question 14

Complete

Mark 1.00 out of 1.00

Flag question

Question text

The product manager is a generalist who must rely on few functional specialists to develop and market the product line.

Select one:

True

False

Question 15

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Despite its limitations, product management (or some variation of it) has found its way into virtually every type of industry, going well beyond the traditional consumer-product brand-manager position.

Select one:

True

False

Question 16

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Determining if product management is the optimal structure for a particular company involves a number of considerations, including:

Select one:

a.

the company's strategies

b.

the company's mission and vision

c.

the company's culture

d.

the company's structure

Question 17

Complete

Mark 1.00 out of 1.00

Flag question

Question text

A product manager is typically a lower manager charged with managing and marketing existing products (and developing new products) for a given product line, brand, or service.

Select one:

True

False

Question 18

Complete

Mark 1.00 out of 1.00

Flag question

Question text

To succeed, firms employ many different strategies, including:

Select one:

a.

competency management

b.

customer retention program

c.

strategic leveraging

d.

all of the above

Question 19

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product Manager acts as a “mini-CEO” by taking responsibility for the overall health of the brand.

Select one:

True

False

Question 20

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Be careful not to lose sight of the Answer as you strive to create competitively superior products and services.

Question 1

Complete

Mark 1.00 out of 1.00

Flag question

Question text

The downfall of several product or brand management systems was the establishment of a product manager as caretaker of the product, with an emphasis on “safe” results.

Select one:

True

False

Question 2

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Market managers are used when a company needs to develop different markets for a single product line. Focus is on developing the _________ rather than on taking the product to market.

Select one:

a.

service

b.

market

c.

product

Question 3

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Acquired abilities should include organizational, time management, and communication skills.

Select one:

a.

organizational skills

b.

time management

c.

communication skills

d.

all of the above

Question 4

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Some products such as heavy machinery, cooling towers, factories, ships and Lorries are with few exceptions purchased by industrial organizations. Such products can thus be classified as consumer products.

Select one:

True

False

Question 5

Complete

Mark 1.00 out of 1.00

Flag question

Question text

An Answer product is a product that can only be perceived indirectly.

Question 6

Complete

Mark 1.00 out of 1.00

Flag question

Question text

The ________________________________ would contract out or conduct marketing research activities required to fully understand customer needs and competitive capabilities and provide input into company growth and acquisition opportunities.

Select one:

a.

regional sales manager

b.

marketing research manager

c.

area manager

Question 7

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product managers who are __________________ primarily function as administrators to assure deadlines are met and requests are carried out.

Select one:

a.

coordinators

b.

creators

c.

trainors

Question 8

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Other products such as shoes, tea, visits to the cinema, and cans of soft drink and so on are typically purchased for use or consumption by individuals. These products are accordingly generally classified as industrial products.

Select one:

True

False

Question 9

Complete

Mark 1.00 out of 1.00

Flag question

Question text

The _____________________________ would provide the day-to-day motivation and management of the sales force and support the product managers in the introduction of new products.

Select one:

a.

regional sales manager

b.

service manager

c.

product manager

Question 10

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Answeris unplanned -result of marketer’s actions.

Question 11

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Marketing executives from consumer goods firms tended to view service managers as coordinators of strategy to a greater degree than was true for industrial firms.

Select one:

True

False

Question 12

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Frequently cited traits looked for in product managers include an entrepreneurial attitude, leadership, and ___________________________.

Select one:

a.

self-confidence

b.

responsible

c.

hard-working

Question 13

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product managers who are entrepreneurial not only coordinate projects but also develop product plans.

Select one:

True

False

Question 14

Complete

Mark 1.00 out of 1.00

Flag question

Question text

A product is the item offered for sale. A product can be a service or an item. It can be physical or in virtual form.

Select one:

True

False

Question 15

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product managers who are leaders are more entrepreneurial and become more active in the strategic planning of products and services for the company.

Select one:

True

False

Question 16

Complete

Mark 1.00 out of 1.00

Flag question

Question text

A Answer product is a physical object that can be perceived by touch.

Question 17

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Since beginning product managers typically spend most of their time gathering and organizing information on the product, its customers, and the competition, product knowledge is paramount.

Select one:

True

False

Question 18

Complete

Mark 1.00 out of 1.00

Flag question

Question text

It is anything that can be offered to a market that might satisfy a want or need.

Select one:

a.

service

b.

product

c.

good

Question 19

Complete

Mark 1.00 out of 1.00

Flag question

Question text

The ______________________________ would support the product managers by providing communication materials and handling company-wide promotional and public relations activities.

Select one:

a.

area manager

b.

product manager

c.

marketing service manager

Question 20

Complete

Mark 1.00 out of 1.00

Flag question

Question text

It is an article or substance that is manufactured or refined for sale. In manufacturing, products are bought as raw materials and sold as finished goods.

Select one:

a.

product

b.

good

c.

service

Question 1

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Since beginning product managers typically spend most of their time gathering and organizing information on the product, its customers, and the competition, product knowledge is paramount.

Select one:

True

False

Question 2

Complete

Mark 0.00 out of 1.00

Flag question

Question text

A greater importance was placed on forecasting and competitor intelligence for industrial product managers than was true for consumer product managers.

Select one:

True Correct Answer

False

Question 3

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Acquired abilities should include organizational, time management, and communication skills.

Select one:

a.

organizational skills

b.

time management

c.

communication skills

d.

all of the above

Question 4

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Common criticism of the Answer structure is that it is a “fast-track” or “stepping-stone” position, overemphasizing short-term results.

Question 5

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product managers who are __________________ primarily function as administrators to assure deadlines are met and requests are carried out.

Select one:

a.

coordinators

b.

creators

c.

trainors

Question 6

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product manager must be persuasive  & able to influence the management.

Select one:

True

False

Question 7

Complete

Mark 0.00 out of 1.00

Flag question

Question text

The downfall of several product or brand management systems was the establishment of a product manager as caretaker of the product, with an emphasis on “safe” results.

Select one:

True Correct Answer

False

Question 8

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Consumer goods product managers will find it necessary to be more involved with the trade as retailers gain more knowledge of and “influence” with consumers.

Select one:

True

False

Question 9

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product managers who are entrepreneurial not only coordinate projects but also develop product plans.

Select one:

True

False

Question 10

Complete

Mark 1.00 out of 1.00

Flag question

Question text

The downfall of several product or brand management systems was the establishment of a product manager as caretaker of the product, with an emphasis on “safe” results.

Select one:

True

False

Question 11

Complete

Mark 1.00 out of 1.00

Flag question

Question text

The main function of product management is to:

Select one:

a.

develop the product

b.

idea generation

c.

product features enhancement

d.

all of the above

Question 12

Complete

Mark 1.00 out of 1.00

Flag question

Question text

The _____________________________ would provide the day-to-day motivation and management of the sales force and support the product managers in the introduction of new products.

Select one:

a.

product manager

b.

regional sales manager

c.

service manager

Question 13

Complete

Mark 1.00 out of 1.00

Flag question

Question text

The product manager is a generalist who must rely on few functional specialists to develop and market the product line.

Select one:

True

False

Question 14

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Although this is less common (and perhaps less desirable if customer input is an afterthought), it is an organizational form that can fit certain needs.

Select one:

True

False

Question 15

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Market managers are used when a company needs to develop different markets for a single product line. Focus is on developing the _________ rather than on taking the product to market.

Select one:

a.

service

b.

product

c.

market

Question 16

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Since beginning product managers typically spend most of their time gathering and organizing information on the product, its customers, and the competition, product knowledge is paramount.

Select one:

True

False

Question 17

Complete

Mark 1.00 out of 1.00

Flag question

Question text

It is anything that can be offered to a market that might satisfy a want or need.

Select one:

a.

good

b.

product

c.

service

Question 18

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product managers who are __________________ primarily function as administrators to assure deadlines are met and requests are carried out.

Select one:

a.

creators

b.

trainors

c.

coordinators

Question 19

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Some products such as heavy machinery, cooling towers, factories, ships and Lorries are with few exceptions purchased by industrial organizations. Such products can thus be classified as consumer products.

Select one:

True

False

Question 20

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product components are used to assist with the operation of the organization but are not directly used in producing goods or services

Select one:

True

False

Question 21

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Market & share forecasting, budgeting, coordinating with production, executing promotion, packaging, etc. is the role of associate Product Manager.

Select one:

True

False

Question 22

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Answer management involves looking at a line of products as it might be evaluated by a market segment. To accomplish this, product managers might need to work together as a category team.

Question 23

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Marketing executives from consumer goods firms tended to view service managers as coordinators of strategy to a greater degree than was true for industrial firms.

Select one:

True

False

Question 24

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Yet all of the tools and techniques espoused by management gurus have not replaced the importance of a solid organizational structure ________________________to guide an organization in accomplishing corporate goals.

Select one:

a.

organizational structure

b.

marketing tools

c.

management principles

d.

corporate strategies

Question 25

Complete

Mark 1.00 out of 1.00

Flag question

Question text

External conflicts faced by a Product Manager are:

Select one:

a.

Identical products

b.

Pursued goals

c.

Process implementation

d.

none of the above

Question 26

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Purchase decisions occur when customer is exposed to promotional activity, like salesperson’s persuasion or incentives like special discounts.

Select one:

True

False

Question 27

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Determining if product management is the optimal structure for a particular company involves a number of considerations, including:

Select one:

a.

the company's structure

b.

the company's culture

c.

the company's strategies

d.

the company's mission and vision

Question 28

Complete

Mark 1.00 out of 1.00

Flag question

Question text

The ________________________________ would contract out or conduct marketing research activities required to fully understand customer needs and competitive capabilities and provide input into company growth and acquisition opportunities.

Select one:

a.

area manager

b.

regional sales manager

c.

marketing research manager

Question 30

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Be careful not to lose sight of the Answer as you strive to create competitively superior products and services.

Question 31

Complete

Mark 1.00 out of 1.00

Flag question

Question text

To succeed, firms employ many different strategies, including:

Select one:

a.

competency management

b.

customer retention program

c.

strategic leveraging

d.

all of the above

Question 32

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product design is a corporate process of designing and commercializing new products.

Select one:

True

False

Question 33

Complete

Mark 1.00 out of 1.00

Flag question

Question text

A product is the item offered for sale. A product can be a service or an item. It can be physical or in virtual form.

Select one:

True

False

Question 34

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Marketing management is the holistic job of product managers, including planning, forecasting, and marketing products or services.

Select one:

True

False

Question 35

Complete

Mark 1.00 out of 1.00

Flag question

Question text

The ______________________________ would support the product managers by providing communication materials and handling company-wide promotional and public relations activities.

Select one:

a.

marketing service manager

b.

product manager

c.

area manager

Question 36

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Internal conflicts faced by a Product Manager are:

Select one:

a.

Newness in product

b.

Similar powerful substitutes

c.

Change in technology

d.

none of the above

Question 37

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Frequently cited traits looked for in product managers include an entrepreneurial attitude, leadership, and ___________________________.

Select one:

a.

responsible

b.

hard-working

c.

self-confidence

Question 38

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Global companies will have cross-border product business teams responsible for leveraging capabilities throughout the world. These will be “virtual teams,” which do not meet regularly on a face-to-face basis and are not located in the same country.

Select one:

True

False

Question 39

Complete

Mark 1.00 out of 1.00

Flag question

Question text

It is an article or substance that is manufactured or refined for sale. In manufacturing, products are bought as raw materials and sold as finished goods.

Select one:

a.

service

b.

product

c.

good

Question 40

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product managers who are leaders are more entrepreneurial and become more active in the strategic planning of products and services for the company.

Select one:

True

False

Question 41

Complete

Mark 1.00 out of 1.00

Flag question

Question text

A product manager is typically a lower manager charged with managing and marketing existing products (and developing new products) for a given product line, brand, or service.

Select one:

True

False

Question 42

Complete

Mark 1.00 out of 1.00

Flag question

Question text

If you have specific groups of customers who require unique products, or if you must combine standard products in unique ways to meet the Answer of these customer groups, consider segment management as an alternative (or in addition) to product management.

uestion 43

Complete

Mark 0.00 out of 1.00

Flag question

Question text

The contemporary dynamic environment determines the consumers’ position in the qualitative and quantitative dimensions of life. The current world of consumers and consumption is shaped by the impact of two basic factors: globalization and modernization.

Select one:

True

False  Correct Answer

Question 44

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Other job titles for product manager could include:

Select one:

a.

brand manager

b.

industry manager

c.

customer segment manager

d.

all of the above

Question 45

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Despite its limitations, product management (or some variation of it) has found its way into virtually every type of industry, going well beyond the traditional consumer-product brand-manager position.

Select one:

True

False

Question 46

Complete

Mark 1.00 out of 1.00

Flag question

Question text

____________________ is a matrix organizational structure in which a product manager is charged with the success of a product or product line but has no direct authority over the individuals producing and selling the product.

Select one:

a.

Marketing Management

b.

Product Management

c.

Human Resource Management

Question 47

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Other products such as shoes, tea, visits to the cinema, and cans of soft drink and so on are typically purchased for use or consumption by individuals. These products are accordingly generally classified as industrial products.

Select one:

True

False

Question 48

Complete

Mark 1.00 out of 1.00

Flag question

Question text

______________________ marketing strategies are based on the knowledge of the target market and its segments. Attention should primarily be paid to the motivation and deciding methods of consumers, which largely affects their buying behavior.

Select one:

a.

Traditional

b.

Contemporary

c.

Modern

Question 49

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product Manager acts as a “mini-CEO” by taking responsibility for the overall health of the brand.

Select one:

True

False

Question 50

Complete

Mark 1.00 out of 1.00

Flag question

Question text

Product managers are used in all types of ______________ from consumer packaged goods to services (such as financial institutions) to industrial companies (such as original equipment manufacturers, component suppliers, and after-market firms) to nonprofit organizations (such as hospitals).

Select one:

a.

industries

b.

companies

c.

sectors