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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. Basic or necessary items that are available almost everywhere
segments
test marketing
staples
sales or market share objective
2. 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
clustering techniques
skimming price
attitude
target costing
3. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
discetionary income
micromarketing
sustainability
trademark
4. To try to increase the size of their target markets by combining two or more segments
switching costs
experimental pricing
combiners
innovation
5. Discounts based on the total quantity bought within a specified time period
random factor analysis
price lining
brand equity
cumulative quantity discounts
6. A flexible pricing strategy that reflects what individual customers are willing to pay
consumer satisfaction/dissatisfiaction
predatory pricing
variable pricing
tipping point
7. A totally new product that creates major changes in the way we live
SWOT analysis
introduction
discontinuous innovation
multicultural marketing
8. When each family unit produces everything it consumes
pure subsistence economy
innovation
portfolio management
f.o.b. delivered pricing
9. 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
prestige pricing
dynamically continuous innovation
late majority
customer satisfaction objective
10. The set of alternative brands the consumer is considering for the decision process
consideration set
cycle analysis
nondurable goods
bartering
11. The regret or remorse buyers may feel after making a purchase
market information function
seasonal analysis
augmented product
cognitive dissonance
12. A relatively permanent change in behavior caused by acquired information or experience
co-branding
learning
demand curve
value pricing everyday low-pricing
13. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
introduction
customer relationship management (crm)
yield-management pricing
test marketing
14. An arrangement unique to business marketing in which two organizations agree to buy from each other
gen y
reciprocity
disintermediation
market segmentation
15. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
competitive advantage
market manager
culture
single target market approach
16. The strategy of selling products at unreasonably low prices to drive competitors out of business
predatory pricing
hierarchy of needs
emergency product
inelastic demand
17. A pricing tactic in which the seller absorbs the total cost of transportation
freight absorption pricing
diffusion
trademark
personality
18. A new product that copies with slight modification the design of an original product
senior citizens
brand equity
knock-off
sales or market share objective
19. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
SWOT analysis
market test
Delphi technique
trial pricing
20. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
sales force forecasting survey
lifestyle
baby boomers
sustainability
21. Tohose whose adoption to a new product signals a general acceptance of the innovation
target costing
segments
early majority
judgment
22. An organizational unit that focuses on some product markets and is treated as a separate profit center
stimulus generalization
strategic business unit sbu
f.o.b. origin pricing
perceived risk
23. The collaboration of two or more firms in setting prices - usually to keep prices high
actual product
price maintenance
emergency product
cycle analysis
24. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
target costing
heuristics
durable goods
empty nesters
25. Costs involved in using a product
operating costs
sales forecast
single target market approach
cost-plus pricing
26. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
combiners
dynamic pricing
trade or functional discounts
clickstream analysis
27. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief
price subsidies
customer forecasting survey
price leadership (follower)
seasonal analysis
28. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
culture
sales forecast
predatory pricing
Delphi technique
29. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
qualifying dimensions
executive judgement
service encounter
multicultural marketing
30. Those who adopt an innovation early in the diffusion process but later than the innovators
early adopters
variable pricing
attitude
universal functions of marketing
31. The process of eliminating interaction between customers and service providers
loss-leader pricing
hierarchy of needs
self-concept
disintermediation
32. A strategy of ducking under a competitor's price by a fixed percentage
umbrella pricing
venture teams
opinion leader
benefit segmentation
33. Selling two or more goods or services as a single package for one price
cost of ownership
price bundling
motivation
target marketing
34. A strategy where prices are set significantly higher than competing brands
prestige pricing
national or manufacturer brands
laggards
continous innovation
35. Aim at one or more homogeneous segments and try to develop different marketing mix for each
early majority
processed material
segments
motivation
36. Pricing products to maximize sales or to attain a desired level of sales or market share
trial pricing
laggards
market segmentation
sales or market share objective
37. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
motivation
portfolio management
sales force forecasting survey
market segmentation
38. A product that consumers perceive to be new and different form existing products
shopping product
lifestyle
innovation
cycle analysis
39. A firm's total product offering designed to satisfy a single need or desire of target customers
innovators
product line
non-cumulative quantity discounts
trial pricing
40. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
freight absorption pricing
gen x
clustering techniques
variable costs
41. 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
market segmentation
unsought products
opinion leader
metropolitan statistical area (msa)
42. Sales forecasting based on the intuition of one or more executives
executive judgement
segmenting
discetionary income
margin
43. A strategy of frequently using sale prices to increase sales volume
product adoption
processed material
price
frequent discounting
44. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
f.o.b. delivered pricing
brand loyalty
prestige pricing
product market
45. 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
gen y
processed material
market segmentation
Delphi technique
46. The first segment (2.5%) of a population to adopt a new product
innovators
diffusion
price elasticity
trademark
47. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
price inelastic
judgment
innovators
sales force forecasting survey
48. The final stage in the product life cycle - in which sales decrease as customer needs change
macro marketing
introduction
decline stage
birthrate
49. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
raw materials
actual product
behavioral learning theories
online auctions
50. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
co-branding
yield-management pricing
reference group
executive judgement