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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 firm's total product offering designed to satisfy a single need or desire of target customers
product line
introduction
test marketing
time-series analysis
2. The percentage change in unit sales that results from a percentage change in price
status symbols
price inelastic
price elasticity
culture
3. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
durable goods
bid riggin
shopping product
mass marketing
4. A fairly homogeneous group of customers to whom a company wishes to appeal
loss-leader pricing
component parts
target market
product life cycle
5. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
internal reference price
fixed costs
national or manufacturer brands
behavioral learning theories
6. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
demand curve
price elastic
operating costs
breakthrough opportunities
7. The last consumers to adopt the innovation
market manager
target market
new product failure
laggards
8. Combining two or more submarkets into one larger target market as a basis for one strategy
growth stage
combined market approach
staples
status symbols
9. The value of a brand to an organization
brand equity
maturity stage
cognitive learning theory
cost of ownership
10. The overall feelings or attitude a person has about a product after purchasing it
predatory pricing
price elastic
consumer satisfaction/dissatisfiaction
subculture
11. A pricing strategy in which a firm sets prices that provide ultimate value to customers
value pricing everyday low-pricing
experimental pricing
single target market approach
learning
12. 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
opinion leader
internal reference price
Delphi technique
information search
13. Tangible products we can see - touch - smell - hear - taste
frequent discounting
macro marketing
goods
sales forecast
14. A social process that directs an economy
generic marketing
value pricing everyday low-pricing
macro marketing
price leadership (follower)
15. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
differentation
maturity stage
customer satisfaction objective
impulse product
16. 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
goods
demand curve
market segmentation
raw materials
17. When each family unit produces everything it consumes
disintermediation
personality
pure subsistence economy
uniform delivered pricing
18. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
Delphi technique
goods
economics of scale
zone pricing
19. A brand that a group of individual products or individual brands share
knock-off
family brand
innovation
specialty products
20. Group of people within an organization who focus exclusively on the development of a new product
pure subsistence economy
customer relationship management (crm)
combiners
venture teams
21. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
SWOT analysis
competitive effect objective
target market
discontinuous innovation
22. Learning that occurs as the result of rewards of punishments
image enhancement objective
generic marketing
convenience product
operant conditioning
23. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
judgment
variable costs
dynamically continuous innovation
customer relationship management (crm)
24. The practice of exchanging a good or service for another good or service of like value
involvment
bartering
disintermediation
family life cycle
25. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time
licensing
self-concept
Delphi technique
classical conditioning
26. Costs involved in using a product
discontinuous innovation
equipment
culture
operating costs
27. A change in an existing product that requires a moderate amount of learning or behavior change
generic marketing
dynamically continuous innovation
early majority
co-branding
28. 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
product life cycle
f.o.b. delivered pricing
list price
capacity management
29. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
mass marketing
personality
universal functions of marketing
cost of ownership
30. The loss of sales of an existing product when a new item in a product line or product family is introduced
image enhancement objective
cannibalization
gen x
stimulus generalization
31. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
generic marketing
learning
price leadership (follower)
32. 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
social class
internal reference price
late majority
brand extension
33. A new product that copies with slight modification the design of an original product
information search
market segment
knock-off
demand curve
34. The process of eliminating interaction between customers and service providers
disintermediation
price-floor pricing
segments
skimming price
35. Refers to the generation born immediately following the baby boom - from 1965-1977
store or private-label brands
tipping point
gen x
sustainability
36. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
target marketing
price elasticity
bid riggin
brand equity
37. The difference between the cost of the product and the selling price of the product
marketing ethics
conformity
augmented product
margin
38. A totally new product that creates major changes in the way we live
consumer-to-consumer e-commerce
consumer behavior
discontinuous innovation
customer relationship management (crm)
39. The dimensions that consumers use to compare completing product alternatives
brand
competitive advantage
baby boomers
evaluative criteria
40. A mental rule of thumb that leads to a speedy decision by simplifying the process
discontinuous innovation
prestige pricing
heuristics
predatory pricing
41. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
new product failure
price inelastic
freight absorption pricing
stimulus generalization
42. Expensive goods that an organization uses in its daily operations that last for a long time
equipment
target costing
core product
strategic business unit sbu
43. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
trademark
learning
information search
combiners
44. To try to find similar patterns within sets of data
segmenting
sustainability
personality
clustering techniques
45. An internal state that drives us to satisfy needs by activating goal-oriented behavior
list price
cognitive learning theory
motivation
brand loyalty
46. When a percentage change in price results in a larger percentage change in the quantity demanded
price elastic
product line
raw materials
lifestyle
47. The collaboration of two or more firms in setting prices - usually to keep prices high
product category manager
price maintenance
consumer behavior
learning
48. The set of alternative brands the consumer is considering for the decision process
trial pricing
consideration set
consumer-to-consumer e-commerce
freight absorption pricing
49. 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
target marketing
demand-based pricing
cannibalization
market information function
50. Number of babies born per 1000 people fluctuated greatly in last 65 years
micromarketing
evaluative criteria
birthrate
test marketing