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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
target market
penetration strategy
clustering techniques
2. Moral standards that guide marketing decisions and actions
cause-related marketing
consumer-to-consumer e-commerce
sustainability
marketing ethics
3. Pricing intended to establish a desired image or positioning to prospective customers
SWOT analysis
price elasticity
image enhancement objective
attitude
4. The physical good or the delivered service that supplies the desired benefit
product life cycle
actual product
skimming price
late majority
5. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer
evaluative criteria
micromarketing
f.o.b. delivered pricing
sustainability
6. The process of eliminating interaction between customers and service providers
disintermediation
brand extension
dynamic pricing
actual product
7. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue
Delphi technique
late majority
cost-plus pricing
innovators
8. A pricing tactic of charging reduced prices for larger quantities of product
quantity discounts
emergency product
sustainability
unsought products
9. Selling two or more goods or services as a single package for one price
demand-based pricing
price bundling
pure subsistence economy
predatory pricing
10. Products created when firms transform raw materials from their original state
processed material
customer satisfaction objective
price subsidies
maintenance - repair - and operating products
11. A flexible pricing strategy that reflects what individual customers are willing to pay
portfolio management
impulse product
variable pricing
innovation
12. When each family unit produces everything it consumes
co-branding
market
pure subsistence economy
variable costs
13. The value of a brand to an organization
national or manufacturer brands
clickstream analysis
perception
brand equity
14. A fairly homogeneous group of customers to whom a company wishes to appeal
product line
target market
impulse product
unsought products
15. The collaboration of two or more firms in setting prices - usually to keep prices high
customer satisfaction objective
behavioral learning theories
price maintenance
metropolitan statistical area (msa)
16. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
customer relationship management (crm)
price bundling
sex roles
multicultural marketing
17. Tohose whose adoption to a new product signals a general acceptance of the innovation
early majority
operant conditioning
durable goods
equipment
18. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
segmenting
strategic business unit sbu
time-series analysis
product adoption
19. The practice of exchanging a good or service for another good or service of like value
lifestyle
processed material
bartering
freight absorption pricing
20. Those who adopt an innovation early in the diffusion process but later than the innovators
early adopters
brand manager
subculture
mass marketing
21. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit
cost-plus pricing
status symbols
gen x
seasonal analysis
22. A marketing mix is tailored to fit some specific target customers
brand equity
trademark
target marketing
price elasticity
23. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase
strategic business unit sbu
late majority
price elasticity
regression analysis
24. An integrated economic and social unit wit a large population nucleus
laggards
metropolitan statistical area (msa)
inelastic demand
product category manager
25. The first segment (2.5%) of a population to adopt a new product
innovators
tipping point
price inelastic
information search
26. A strategy of experimenting with prices until the price that generates the highest profitability is found
macro marketing
list price
experimental pricing
discontinuous innovation
27. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
trend analysis
penetration strategy
status symbols
brand loyalty
28. 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
market information function
sales or market share objective
trademark
seasonal analysis
29. A strategy where prices are set significantly higher than competing brands
continous innovation
behavioral learning theories
margin
prestige pricing
30. Brands that the manufacturer of the product owns
national or manufacturer brands
list price
Delphi technique
variable pricing
31. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
multiple target market approach
gen y
executive judgement
Delphi technique
32. The psychological characteristics that consistently influence the way a person responds to situations in the environment
specialty products
staples
personality
introduction
33. Relevant to including a customer type in a product market
personality
fixed costs
maturity stage
qualifying dimensions
34. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income
perception
social class
clickstream analysis
price
35. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline
market test
baby boomers
tipping point
variable costs
36. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
goods
f.o.b. origin pricing
specialty products
bartering
37. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
segmenting
co-branding
seasonal analysis
internal reference price
38. A totally new product that creates major changes in the way we live
competitive effect objective
attitude
discontinuous innovation
market manager
39. Expensive goods that an organization uses in its daily operations that last for a long time
licensing
maturity stage
perception
equipment
40. Number of babies born per 1000 people fluctuated greatly in last 65 years
disposable income
price leadership (follower)
birthrate
specialty products
41. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
augmented product
benefit segmentation
executive judgement
opinion leader
42. Products we purchase when we're in dire need
reciprocity
cost-plus pricing
market segment
emergency product
43. A pricing tactic in which customers in different geographic zones pay different transportation rates
actual product
metropolitan statistical area (msa)
operant conditioning
zone pricing
44. Goods that a business customer consumes in a relatively short time
birthrate
maintenance - repair - and operating products
senior citizens
target market
45. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
consumer satisfaction/dissatisfiaction
variable costs
sales force forecasting survey
innovators
46. Pricing that is intended to have an effect on the marketing efforts of the competition
qualifying dimensions
inelastic demand
competitive effect objective
market manager
47. The last consumers to adopt the innovation
laggards
reference group
tipping point
staples
48. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top
early majority
hierarchy of needs
price maintenance
new product failure
49. Those that actually affect the customers purchase of specific product or brand in a product market
new product failure
clickstream analysis
determining dimensions
clustering techniques
50. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
information search
inelastic demand
goods
price discrimination