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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. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
cause-related marketing
consumer-to-consumer e-commerce
service encounter
test marketing
2. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
differentation
variable costs
motivation
cost-plus pricing
3. 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
combiners
price elasticity
profit objective
trademark
4. Segmenting the market and picking one of the homogeneous segments as the firms target market
national or manufacturer brands
product adoption
single target market approach
fixed costs
5. Expensive goods that an organization uses in its daily operations that last for a long time
customer relationship management (crm)
augmented product
equipment
qualifying dimensions
6. A strategy where prices are set significantly higher than competing brands
SWOT analysis
generic marketing
frequent discounting
prestige pricing
7. Pricing a new product low for a limited period of time to lower the risk for a customer
trial pricing
emergency product
test marketing
customer forecasting survey
8. 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
yield-management pricing
capacity management
service encounter
tipping point
9. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
stimulus generalization
switching costs
online auctions
experimental pricing
10. A means of measuring a website's success by tracking customers' movement around the company website
price inelastic
clickstream analysis
real income
product line
11. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
generic marketing
captive pricing
cycle analysis
growth stage
12. The practice of linking products to a particular social cause on an ongoing or short-term basis
venture teams
strategic business unit sbu
goods
cause-related marketing
13. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production
uniform delivered pricing
price-floor pricing
family life cycle
impulse product
14. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
micromarketing
SWOT analysis
freight absorption pricing
cannibalization
15. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
random factor analysis
market manager
component parts
sex roles
16. The price the end customer is expected to pay as determined by the manufacturer
operant conditioning
dynamically continuous innovation
list price
cumulative quantity discounts
17. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
perception
bid riggin
judgment
switching costs
18. A product that consumers perceive to be new and different form existing products
multicultural marketing
store or private-label brands
innovation
switching costs
19. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
price subsidies
brand manager
universal functions of marketing
market segment
20. The psychological characteristics that consistently influence the way a person responds to situations in the environment
personality
raw materials
universal functions of marketing
behavioral learning theories
21. A homogeneous group of customers who will respond to a marketing mix in a similiar way
late majority
captive pricing
price subsidies
market segment
22. Products created when firms transform raw materials from their original state
yield-management pricing
processed material
SWOT analysis
dynamic pricing
23. 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
internal reference price
market segmentation
clickstream analysis
baby boomers
24. The seller fine tunes the marketing effort with info from a detailed customer database
knock-off
component parts
perception
customer relationship management (crm)
25. A situation in which an increase or a decrease in price will not significantly affect demand for the product
cannibalization
market
inelastic demand
seasonal analysis
26. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
bid riggin
equipment
product market
demand-based pricing
27. A change in an existing product that requires a moderate amount of learning or behavior change
dynamically continuous innovation
empty nesters
benefit segmentation
price elasticity
28. Learning that occurs as the result of rewards of punishments
price-floor pricing
store or private-label brands
reference group
operant conditioning
29. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
convenience product
price bundling
early adopters
variable costs
30. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
component parts
consumer satisfaction/dissatisfiaction
price discrimination
durable goods
31. To try to increase the size of their target markets by combining two or more segments
metropolitan statistical area (msa)
combiners
skimming price
loss-leader pricing
32. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
mass marketing
national or manufacturer brands
test marketing
innovation
33. E-commerce that allows shoppers to purchase products through online bidding
fast-moving consumer goods
determining dimensions
product line
online auctions
34. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention
unsought products
profit objective
reciprocity
sales or market share objective
35. A pricing strategy that considers the lifetime cost of using the product
sustainability
uniform delivered pricing
status symbols
cost of ownership
36. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
shopping product
maturity stage
seasonal analysis
continous innovation
37. A means of characterizing consumers based on the different family stages they pass through as they grow older
family life cycle
information search
customer relationship management (crm)
motivation
38. The final stage in the product life cycle - in which sales decrease as customer needs change
consumer behavior
decline stage
quantity discounts
augmented product
39. To try to find similar patterns within sets of data
breakthrough opportunities
internal reference price
margin
clustering techniques
40. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
goods
random factor analysis
economics of scale
SWOT analysis
41. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
lifestyle
convenience product
price discrimination
competitive effect objective
42. Refers to the generation born immediately following the baby boom - from 1965-1977
information search
disintermediation
gen x
birthrate
43. All the benefits the product will provide for consumers or business customers
core product
emergency product
yield-management pricing
target costing
44. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
gen y
regression analysis
bid riggin
price
45. 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
conformity
trademark
market information function
test marketing
46. Discounts based on the total quantity bought within a specified time period
conformity
staples
cumulative quantity discounts
real income
47. A totally new product that creates major changes in the way we live
economics of scale
culture
product category manager
discontinuous innovation
48. Costs of production that do not change with the number of units produced
combined market approach
sales force forecasting survey
fixed costs
time-series analysis
49. 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
online auctions
family brand
reciprocity
opinion leader
50. A pricing tactic in which customers in different geographic zones pay different transportation rates
durable goods
combined market approach
bait and switch
zone pricing