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Test your basic knowledge |
Marketing Basics
Start Test
Study First
Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
If you are not ready to take this test, you can
study here
.
Match each statement with the correct term.
Don't refresh. All questions and answers are randomly picked and ordered every time you load a test.
This is a study tool. The 3 wrong answers for each question are randomly chosen from answers to other questions. So, you might find at times the answers obvious, but you will see it re-enforces your understanding as you take the test each time.
1. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories
opinion leader
combined market approach
innovation
product line
2. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
mass marketing
price discrimination
price lining
convenience product
3. Communicating with large numbers of customers at the same time
Delphi technique
price elasticity
mass selling
price inelastic
4. Products that consumers purchase to signal membership in a desirable social class
seasonal analysis
growth stage
SWOT analysis
status symbols
5. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
perceived risk
information search
f.o.b. origin pricing
cost of ownership
6. Pricing that is intended to maximize customer satisfaction and retention
knock-off
consumer-to-consumer e-commerce
multiple target market approach
customer satisfaction objective
7. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
dynamic pricing
sales forecast
market manager
impulse product
8. Group of people within an organization who focus exclusively on the development of a new product
SWOT analysis
core product
venture teams
random factor analysis
9. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
breakthrough opportunities
strategic business unit sbu
cost of ownership
cumulative quantity discounts
10. An internal state that drives us to satisfy needs by activating goal-oriented behavior
culture
price discrimination
motivation
margin
11. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
loss-leader pricing
innovators
price leadership (follower)
innovation
12. The price the end customer is expected to pay as determined by the manufacturer
list price
perceived risk
multicultural marketing
product life cycle
13. Brands that the manufacturer of the product owns
national or manufacturer brands
family brand
disintermediation
discontinuous innovation
14. The dimensions that consumers use to compare completing product alternatives
evaluative criteria
product life cycle
disposable income
breakthrough opportunities
15. A mental rule of thumb that leads to a speedy decision by simplifying the process
product line
licensing
price bundling
heuristics
16. Segmenting the market and picking one of the homogeneous segments as the firms target market
single target market approach
price discrimination
micromarketing
list price
17. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
conformity
reference group
price inelastic
component parts
18. The process by which the use of a product spreads throughout the population
capacity management
diffusion
innovation
late majority
19. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus
price maintenance
freight absorption pricing
classical conditioning
self-concept
20. The value that customers give up - or exchange - to obtain a desired product
variable costs
price
consumer-to-consumer e-commerce
operating costs
21. A totally new product that creates major changes in the way we live
Delphi technique
laggards
umbrella pricing
discontinuous innovation
22. Refers to the generation born immediately following the baby boom - from 1965-1977
gen x
portfolio management
actual product
benefit segmentation
23. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
random factor analysis
micromarketing
involvment
combined market approach
24. Charging a very high - premium price for a new product
Delphi technique
skimming price
conformity
quantity discounts
25. Pricing a new product low for a limited period of time to lower the risk for a customer
fast-moving consumer goods
augmented product
price bundling
trial pricing
26. Sales forecasting based on the intuition of one or more executives
single target market approach
tipping point
executive judgement
raw materials
27. The difference between the cost of the product and the selling price of the product
operating costs
margin
disposable income
component parts
28. Discounts based only on the quantity purchased in individual orders
multiple target market approach
trademark
non-cumulative quantity discounts
bait and switch
29. A situation in which an increase or a decrease in price will not significantly affect demand for the product
inelastic demand
opinion leader
cycle analysis
brand loyalty
30. The actual interaction between the customer and the service provider
switching costs
single target market approach
bait and switch
service encounter
31. Costs involved in moving from one brand to another
strategic business unit sbu
price
switching costs
information search
32. To try to increase the size of their target markets by combining two or more segments
combiners
cannibalization
motivation
unsought products
33. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
seasonal analysis
service encounter
universal functions of marketing
combiners
34. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas
breakthrough opportunities
market information function
target marketing
national or manufacturer brands
35. Products that exhibit consistently high velocity sales in the consumer marketplace
trial pricing
maintenance - repair - and operating products
nondurable goods
fast-moving consumer goods
36. To try to find similar patterns within sets of data
clustering techniques
emergency product
empty nesters
executive judgement
37. Sometimes called millenials - refer to those born from 1978-1994
gen y
trade or functional discounts
hierarchy of needs
motivation
38. Learning that occurs as the result of rewards of punishments
subculture
operant conditioning
late majority
combiners
39. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition
motivation
brand loyalty
growth stage
f.o.b. delivered pricing
40. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
dynamic pricing
regression analysis
staples
bid riggin
41. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
product life cycle
knock-off
economics of scale
frequent discounting
42. Those who adopt an innovation early in the diffusion process but later than the innovators
early adopters
cycle analysis
macro marketing
cumulative quantity discounts
43. A social process that directs an economy
brand loyalty
customer satisfaction
macro marketing
trial pricing
44. The loss of sales of an existing product when a new item in a product line or product family is introduced
trial pricing
cognitive learning theory
cannibalization
brand manager
45. What is left of disposable income after paying for necessities
reference group
cognitive dissonance
experimental pricing
discetionary income
46. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes
trial pricing
market segmentation
price leadership (follower)
penetration strategy
47. A strategy of experimenting with prices until the price that generates the highest profitability is found
national or manufacturer brands
experimental pricing
lifestyle
executive judgement
48. A new product that copies with slight modification the design of an original product
price
behavioral learning theories
pure subsistence economy
knock-off
49. The strategy of selling products at unreasonably low prices to drive competitors out of business
test marketing
predatory pricing
laggards
trend analysis
50. The collaboration of two or more firms in setting prices - usually to keep prices high
Delphi technique
price maintenance
durable goods
cannibalization