Match each item with the correct statement below.
-Continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world-class performance is referred to as _____.
A)marketing mix
B)specialty products
C)product
D)services
E)convenience products
F)impulse goods
G)installations
H)wholesalers
I)business-to-business (B2B)
J)supplies
K)emergency goods
L)shopping products
M)component parts and materials
N)staples
O)product mix
P)product line
Q)line extension
R)total quality management
S)product lifecycle
T)benchmarking

Question

Quizplus · Accepted Answer

Total quality management refers to a continuous effort to improve products and work processes with the goal of achieving customer satisfaction and world-class performance.

Answer: P
 A product line is a group of products that are closely related because they serve a similar function, are sold to the same customer group, are marketed through the same channels, or fall within a given price range.

Answer: Q
 Line extension refers to the introduction of additional products in an existing product line in order to satisfy more customer needs and increase sales of the product line.

Answer: S
 Product lifecycle refers to the stages a product goes through from introduction to withdrawal from the market, including introduction, growth, maturity, and decline.

Answer: T
 Benchmarking is the practice of comparing an organization's performance metrics to industry best practices or similar organizations in order to identify areas for improvement.

Match Each Item with the Correct Statement Below