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Test your basic knowledge |
Marketing Basics
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
national or manufacturer brands
qualifying dimensions
opinion leader
multicultural marketing
2. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
durable goods
discetionary income
reciprocity
demand-based pricing
3. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri
margin
market information function
quantity discounts
target costing
4. The percentage change in unit sales that results from a percentage change in price
breakthrough opportunities
price elasticity
skimming price
status symbols
5. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
behavioral learning theories
multiple target market approach
fast-moving consumer goods
culture
6. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
umbrella pricing
product life cycle
product market
senior citizens
7. A new product that does not reach expectations for success - failing to reach sales objectives set
test marketing
attitude
price leadership (follower)
new product failure
8. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
competitive advantage
involvment
attitude
market segment
9. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses
f.o.b. origin pricing
maintenance - repair - and operating products
time-series analysis
market
10. The overall feelings or attitude a person has about a product after purchasing it
price lining
single target market approach
maintenance - repair - and operating products
consumer satisfaction/dissatisfiaction
11. The practice of linking products to a particular social cause on an ongoing or short-term basis
judgment
perception
cause-related marketing
laggards
12. E-commerce that allows shoppers to purchase products through online bidding
national or manufacturer brands
trend analysis
cannibalization
online auctions
13. The belief that use of a product has potentially negative consequences - either financial - physical or social
perceived risk
price elasticity
staples
mass marketing
14. 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
brand loyalty
opportunity cost
capacity management
customer satisfaction objective
15. To try to increase the size of their target markets by combining two or more segments
SWOT analysis
combiners
national or manufacturer brands
cumulative quantity discounts
16. 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
continous innovation
market segment
Delphi technique
test marketing
17. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country
trademark
gen x
fast-moving consumer goods
cognitive dissonance
18. Brands that the manufacturer of the product owns
SWOT analysis
national or manufacturer brands
differentation
micromarketing
19. A product people often buy on the spur of the moment
combiners
price
impulse product
personality
20. Pricing intended to establish a desired image or positioning to prospective customers
cumulative quantity discounts
laggards
image enhancement objective
price elastic
21. Basic or necessary items that are available almost everywhere
metropolitan statistical area (msa)
staples
operant conditioning
demand curve
22. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
target marketing
actual product
segmenting
product category manager
23. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
sustainability
consideration set
price discrimination
24. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
market test
durable goods
brand loyalty
inelastic demand
25. People over 65
opinion leader
combiners
experimental pricing
senior citizens
26. What is left after taxes
core product
cumulative quantity discounts
continous innovation
disposable income
27. An integrated economic and social unit wit a large population nucleus
price subsidies
self-concept
venture teams
metropolitan statistical area (msa)
28. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
brand extension
consideration set
expert forecasting survey
hierarchy of needs
29. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
penetration strategy
sales or market share objective
cognitive dissonance
brand extension
30. The process by which organization adjust their offering in an attempt to match demand
capacity management
test marketing
national or manufacturer brands
goods
31. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
convenience product
generic marketing
culture
combined market approach
32. The physical good or the delivered service that supplies the desired benefit
actual product
price lining
continous innovation
dynamically continuous innovation
33. 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
goods
captive pricing
strategic business unit sbu
34. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
nondurable goods
durable goods
internal reference price
test marketing
35. A strategy of ducking under a competitor's price by a fixed percentage
empty nesters
combined market approach
brand equity
umbrella pricing
36. Number of babies born per 1000 people fluctuated greatly in last 65 years
consumer behavior
learning
breakthrough opportunities
birthrate
37. Relevant to including a customer type in a product market
bartering
disintermediation
list price
qualifying dimensions
38. A new product that copies with slight modification the design of an original product
list price
bartering
knock-off
brand manager
39. An agreement between two brands to work together in marketing new or existing products
time-series analysis
switching costs
co-branding
competitive advantage
40. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same
evaluative criteria
experimental pricing
demand curve
market segment
41. A social process that directs an economy
determining dimensions
macro marketing
random factor analysis
impulse product
42. Products we purchase when we're in dire need
price maintenance
emergency product
laggards
trademark
43. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs
introduction
brand extension
market
online auctions
44. 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
late majority
impulse product
random factor analysis
mass selling
45. Pricing that is intended to maximize customer satisfaction and retention
clustering techniques
image enhancement objective
single target market approach
customer satisfaction objective
46. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
regression analysis
trial pricing
skimming price
switching costs
47. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
nondurable goods
f.o.b. origin pricing
information search
trademark
48. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
maturity stage
specialty products
cost-plus pricing
qualifying dimensions
49. An internal state that drives us to satisfy needs by activating goal-oriented behavior
motivation
involvment
consumer satisfaction/dissatisfiaction
lifestyle
50. The marketing mix is distinct from and better than what is available from a competitor
differentation
continous innovation
conformity
trademark
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