1. A_______ is an informal study of what information is already available in a particular problem area?  
a)    Position statement
b)    Situation analysis
c)    Market research process
d)    Focus group interview

2. According to the idea of product classes, the class meant for use in producing other products is known as? 
a)    Business products
b)    Consumer products
c)    Raw materials
d)    Components

3. A(n)_________ is a long-lasting product that can be used and developed for many years, and for tax purposes, the cost is spread over a number of years?  
a)    Capital item
b)    Expense item
c)    Long-term investment
d)    Amortization

3. The use of a name, term, symbol or design, or combination of these, to identify a product is known as?    
a)    A brand name
b)    Branding
c)    A trademark
d)    A service mark

4. The ____________ stage occurs when industry sales level off and competition gets tougher?    
a)    Sales decline
b)    Market introduction
c)    Market maturity
d)    Market growth

5. The lives of different products vary, but in general, product life cycles are?
a)    Getting longer
b)    Getting shorter
c)    Not changing
d)    Unknown

6. Fashion related products tend to have __________ life cycles?    
a)    Short
b)    Long
c)    Variable
d)    No

7. The legal obligation of sellers to pay damages to individuals who are injured by defective or unsafe products is called?
a)    Product liability
b)    Negligent manufacturing
c)    Breach of warranty
d)    Marketing malpractice

8. ________ seek to satisfy customer needs at a profit with an integrated company effort?
a)    Product oriented firms
b)    Marketing oriented firms
c)    Service firms
d)    None of the above

9. ______ decisions have long-run effects and are usually harder to change than any other of these decisions? 
a)    Product
b)    Price
c)    Place
d)    Promotion

10. Direct marketing is primarily concerned with the _____________ decision?  
a)    Place
b)    Price
c)    Product
d)    Promotion