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

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____________________ 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.

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Question 2

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

Question 3

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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:

Question 4

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

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Question 5

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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:

Question 6

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 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

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

Question 8

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


Select one:

Question 9

Complete
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Other job titles for product manager could include:

Select one:

Question 10

Complete
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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:

Question 11

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

Select one:

Question 12

Complete
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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:

Question 13

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Question text

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

Select one:

Question 14

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


Select one:

Question 15

Complete
Mark 1.00 out of 1.00
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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:

Question 16

Complete
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Question text

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

Select one:

Question 17

Complete
Mark 1.00 out of 1.00
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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:

Question 18

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To succeed, firms employ many different strategies, including:


Select one:

Question 19

Complete
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Question text

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


Select one:

Question 20

Complete
Mark 1.00 out of 1.00
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Question text

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

Question 1

Complete
Mark 1.00 out of 1.00
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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:

Question 2

Complete
Mark 1.00 out of 1.00
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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:

Question 3

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

Select one:

Question 4

Complete
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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:

Question 5

Complete
Mark 1.00 out of 1.00
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An  product is a product that can only be perceived indirectly.

Question 6

Complete
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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:

Question 7

Complete
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Question text

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

Select one:

Question 8

Complete
Mark 1.00 out of 1.00
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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:

Question 9

Complete
Mark 1.00 out of 1.00
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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:

Question 10

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is unplanned -result of marketer’s actions.

Question 11

Complete
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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:

Question 12

Complete
Mark 1.00 out of 1.00
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Question text

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

Select one:

Question 13

Complete
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Question text

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

Select one:

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:

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:

Question 16

Complete
Mark 1.00 out of 1.00
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Question text

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

Question 17

Complete
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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:

Question 18

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

Select one:

Question 19

Complete
Mark 1.00 out of 1.00
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Question text

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

Select one:

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:

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:

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:

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:

Question 4

Complete
Mark 1.00 out of 1.00
Flag question

Question text

Common criticism of the  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:

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:

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:

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:

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:

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:

Question 11

Complete
Mark 1.00 out of 1.00
Flag question

Question text

The main function of product management is to:

Select one:

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:

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:

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:

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:

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:

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:

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:

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:

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:

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:

Question 22

Complete
Mark 1.00 out of 1.00
Flag question

Question text

 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:

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:

Question 25

Complete
Mark 1.00 out of 1.00
Flag question

Question text

External conflicts faced by a Product Manager are:

Select one:

Question 26

Complete
Mark 1.00 out of 1.00
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Question text

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

Select one:

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:

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:

Question 30

Complete
Mark 1.00 out of 1.00
Flag question

Question text

Be careful not to lose sight of the  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:

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:

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:

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:

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:

Question 36

Complete
Mark 1.00 out of 1.00
Flag question

Question text

Internal conflicts faced by a Product Manager are:

Select one:

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:

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:

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:

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:

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:

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  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.

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Question 44

Complete
Mark 1.00 out of 1.00
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Question text

Other job titles for product manager could include:

Select one:

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:

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:

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:

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:

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:

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: