SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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 by which people select - organize - and interpret information form the outside world
co-branding
perception
cognitive dissonance
operating costs
2. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
product market
inelastic demand
competitive advantage
cost of ownership
3. The physical good or the delivered service that supplies the desired benefit
actual product
yield-management pricing
cause-related marketing
determining dimensions
4. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
variable costs
cumulative quantity discounts
lifestyle
combined market approach
5. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
breakthrough opportunities
customer satisfaction objective
real income
status symbols
6. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
cognitive learning theory
variable costs
subculture
maturity stage
7. A firm's total product offering designed to satisfy a single need or desire of target customers
cost of ownership
product line
learning
online auctions
8. 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
new product failure
hierarchy of needs
demand curve
9. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
sales forecast
loss-leader pricing
breakthrough opportunities
portfolio management
10. A new product that copies with slight modification the design of an original product
brand extension
knock-off
seasonal analysis
store or private-label brands
11. 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
behavioral learning theories
unsought products
product line
customer satisfaction
12. Segmenting the market and picking one of the homogeneous segments as the firms target market
price lining
single target market approach
diffusion
capacity management
13. A change in an existing product that requires a moderate amount of learning or behavior change
dynamically continuous innovation
information search
customer forecasting survey
determining dimensions
14. To try to find similar patterns within sets of data
actual product
clustering techniques
motivation
durable goods
15. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
continous innovation
price discrimination
co-branding
behavioral learning theories
16. A modification of an existing product that sets one brand apart from its competitors
continous innovation
product category manager
market segment
growth stage
17. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
self-concept
expert forecasting survey
maturity stage
judgment
18. The marketing mix is distinct from and better than what is available from a competitor
status symbols
price elastic
f.o.b. delivered pricing
differentation
19. An integrated economic and social unit wit a large population nucleus
brand equity
switching costs
cause-related marketing
metropolitan statistical area (msa)
20. An agreement between two brands to work together in marketing new or existing products
strategic business unit sbu
co-branding
universal functions of marketing
motivation
21. Income that is adjusted to take out the effects of inflation on purchasing power
inelastic demand
demand curve
real income
convenience product
22. Pricing products to maximize sales or to attain a desired level of sales or market share
fast-moving consumer goods
image enhancement objective
cost of ownership
sales or market share objective
23. The value of something that is given up to obtain something else
product market
maturity stage
opportunity cost
product category manager
24. Those that actually affect the customers purchase of specific product or brand in a product market
gen x
customer satisfaction objective
determining dimensions
customer relationship management (crm)
25. A totally new product that creates major changes in the way we live
penetration strategy
tipping point
new product failure
discontinuous innovation
26. Charging a very high - premium price for a new product
skimming price
customer satisfaction
status symbols
component parts
27. The price the end customer is expected to pay as determined by the manufacturer
inelastic demand
specialty products
processed material
list price
28. Brands that are owned and sold by a specific - retailer or distributor
benefit segmentation
store or private-label brands
emergency product
switching costs
29. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer
status symbols
evaluative criteria
trademark
f.o.b. origin pricing
30. A strategy of frequently using sale prices to increase sales volume
family life cycle
target marketing
augmented product
frequent discounting
31. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
introduction
empty nesters
convenience product
price discrimination
32. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
product adoption
subculture
opportunity cost
nondurable goods
33. A homogeneous group of customers who will respond to a marketing mix in a similiar way
birthrate
market segment
conformity
self-concept
34. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
universal functions of marketing
non-cumulative quantity discounts
inelastic demand
cumulative quantity discounts
35. A situation in which an increase or a decrease in price will not significantly affect demand for the product
inelastic demand
expert forecasting survey
consumer-to-consumer e-commerce
processed material
36. A mental rule of thumb that leads to a speedy decision by simplifying the process
core product
heuristics
discetionary income
discontinuous innovation
37. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item
consumer satisfaction/dissatisfiaction
involvment
clickstream analysis
captive pricing
38. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
product market
durable goods
yield-management pricing
impulse product
39. Communicating with large numbers of customers at the same time
mass selling
market
predatory pricing
brand
40. 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
licensing
heuristics
product adoption
f.o.b. delivered pricing
41. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
sales force forecasting survey
service encounter
market information function
trade or functional discounts
42. Refers to the generation born immediately following the baby boom - from 1965-1977
gen x
lifestyle
family brand
specialty products
43. 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 maintenance
price bundling
price subsidies
consideration set
44. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment
family brand
competitive effect objective
cognitive learning theory
price
45. A social process that directs an economy
mass marketing
product life cycle
margin
macro marketing
46. Products we purchase when we're in dire need
marketing ethics
multicultural marketing
emergency product
maintenance - repair - and operating products
47. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
trademark
random factor analysis
product category manager
universal functions of marketing
48. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
seasonal analysis
pure subsistence economy
knock-off
growth stage
49. Basic or necessary items that are available almost everywhere
price-floor pricing
staples
social class
classical conditioning
50. Tangible products we can see - touch - smell - hear - taste
goods
market
evaluative criteria
augmented product