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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. The process of eliminating interaction between customers and service providers
target marketing
diffusion
disintermediation
discetionary income
2. A social process that directs an economy
growth stage
penetration strategy
macro marketing
continous innovation
3. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
unsought products
yield-management pricing
cannibalization
breakthrough opportunities
4. A fairly homogeneous group of customers to whom a company wishes to appeal
laggards
perception
target market
price-floor pricing
5. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
price elasticity
test marketing
specialty products
segments
6. The last consumers to adopt the innovation
sales forecast
laggards
target costing
portfolio management
7. The strategy of selling products at unreasonably low prices to drive competitors out of business
perceived risk
skimming price
Delphi technique
predatory pricing
8. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
target market
impulse product
combined market approach
9. Refers to the generation born immediately following the baby boom - from 1965-1977
skimming price
gen x
cause-related marketing
cognitive dissonance
10. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
classical conditioning
innovators
seasonal analysis
price inelastic
11. 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
store or private-label brands
market
innovation
trademark
12. The percentage change in unit sales that results from a percentage change in price
innovators
nondurable goods
price elasticity
stimulus generalization
13. The regret or remorse buyers may feel after making a purchase
multiple target market approach
service encounter
cognitive dissonance
image enhancement objective
14. To try to find similar patterns within sets of data
mass selling
clustering techniques
birthrate
new product failure
15. 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
market segmentation
experimental pricing
late majority
prestige pricing
16. A strategy of ducking under a competitor's price by a fixed percentage
sex roles
umbrella pricing
variable pricing
impulse product
17. The dimensions that consumers use to compare completing product alternatives
capacity management
motivation
value pricing everyday low-pricing
evaluative criteria
18. Communicating with large numbers of customers at the same time
mass selling
core product
variable pricing
equipment
19. A totally new product that creates major changes in the way we live
perception
gen x
discontinuous innovation
consumer satisfaction/dissatisfiaction
20. 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
target costing
actual product
perception
late majority
21. The values - beliefs - customs - and tastes that a group of people value
service encounter
yield-management pricing
trend analysis
culture
22. An aggregating process - clustering people with similar needs into a "market segment"
price elastic
segmenting
trademark
culture
23. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
portfolio management
random factor analysis
skimming price
sex roles
24. An organizational unit that focuses on some product markets and is treated as a separate profit center
strategic business unit sbu
information search
laggards
processed material
25. Discounts based on the total quantity bought within a specified time period
evaluative criteria
trial pricing
cumulative quantity discounts
qualifying dimensions
26. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
pure subsistence economy
consumer behavior
generic marketing
co-branding
27. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
price
specialty products
customer forecasting survey
loss-leader pricing
28. The collaboration of two or more firms in setting prices - usually to keep prices high
sustainability
price maintenance
consumer satisfaction/dissatisfiaction
customer satisfaction objective
29. The first segment (2.5%) of a population to adopt a new product
perception
sustainability
innovators
customer satisfaction
30. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
time-series analysis
empty nesters
regression analysis
processed material
31. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
shopping product
segmenting
fixed costs
market
32. The difference between the cost of the product and the selling price of the product
margin
gen y
trade or functional discounts
durable goods
33. 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
product line
sales force forecasting survey
cost-plus pricing
non-cumulative quantity discounts
34. Pricing products to maximize sales or to attain a desired level of sales or market share
sex roles
sales or market share objective
variable pricing
margin
35. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
f.o.b. origin pricing
status symbols
attitude
innovation
36. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
captive pricing
universal functions of marketing
unsought products
opinion leader
37. 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
single target market approach
brand equity
reciprocity
demand curve
38. Products we purchase when we're in dire need
segments
operating costs
emergency product
seasonal analysis
39. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
sustainability
trademark
single target market approach
heuristics
40. Charging a very high - premium price for a new product
actual product
disintermediation
portfolio management
skimming price
41. 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
price elasticity
unsought products
target market
market information function
42. The relative importance of perceived consequences of the purchase to a consumer
perceived risk
market
benefit segmentation
involvment
43. Sometimes called millenials - refer to those born from 1978-1994
target costing
gen y
impulse product
judgment
44. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
mass marketing
price subsidies
component parts
operating costs
45. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
target marketing
self-concept
benefit segmentation
convenience product
46. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
market test
sex roles
disposable income
cannibalization
47. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
regression analysis
price
staples
trade or functional discounts
48. A new product sold with the same brand name as a strong existing brand
pure subsistence economy
brand extension
price maintenance
zone pricing
49. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
demand curve
innovators
trend analysis
customer satisfaction objective
50. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
test marketing
target costing
segmenting
competitive advantage