Match the term with its definition.
-The way in which the product component of the marketing mix is used to achieve a firm's objectives
A)channel of distribution
B)copyright
C)patent
D)product
E)product item
F)product life cycle
G)product line
H)product mix
I)product mix consistency
J)product strategy
K)sustainable competitive advantage

Question

Quizplus · Accepted Answer

Product strategy refers to the way in which the product component of the marketing mix is used to achieve a firm's objectives.

Answer: D 
 Product refers to the goods or services a company offers to meet customer needs, wants, or demands.

Answer: F 
 Product life cycle refers to the stages a product goes through from introduction to eventual decline or discontinuation.

Answer: G 
 Product line refers to a group of related products offered by a company, often targeting a similar market or fulfilling a similar need.

Answer: H 
 Product mix refers to the entire range of products offered by a company.

Answer: I 
 Product mix consistency refers to how closely related the different products in a company's product mix are.

Answer: K 
 Sustainable competitive advantage is a unique advantage that a company has over its competitors, which is difficult for competitors to imitate or replicate.

Answer: A 
 Channel of distribution refers to the path or route that a product takes from the manufacturer to the end consumer.

Answer: C 
 Patent refers to the legal protection granted to an inventor for a new and useful invention, giving them the sole right to make, use, and sell the invention for a certain period of time.

Answer: B 
 Copyright refers to the legal protection granted to the creator of an original work, giving them the exclusive right to use and sell the work for a certain period of time.

Match the Term with Its Definition