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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. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
shopping product
cause-related marketing
experimental pricing
segments
2. A means of characterizing consumers based on the different family stages they pass through as they grow older
family life cycle
capacity management
lifestyle
switching costs
3. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
lifestyle
unsought products
gen x
profit objective
4. Tohose whose adoption to a new product signals a general acceptance of the innovation
price discrimination
unsought products
early majority
continous innovation
5. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time
licensing
consumer behavior
f.o.b. origin pricing
reciprocity
6. The values - beliefs - customs - and tastes that a group of people value
variable pricing
culture
skimming price
time-series analysis
7. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
non-cumulative quantity discounts
cycle analysis
sales forecast
price-floor pricing
8. Products that consumers purchase to signal membership in a desirable social class
unsought products
product category manager
status symbols
cycle analysis
9. Pricing products to maximize sales or to attain a desired level of sales or market share
sales or market share objective
inelastic demand
hierarchy of needs
single target market approach
10. 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
clickstream analysis
continous innovation
captive pricing
time-series analysis
11. A product that consumers perceive to be new and different form existing products
brand equity
price elasticity
heuristics
innovation
12. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition
product adoption
brand
profit objective
marketing ethics
13. 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
opinion leader
tipping point
shopping product
breakthrough opportunities
14. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
discontinuous innovation
self-concept
product life cycle
fixed costs
15. A new product that copies with slight modification the design of an original product
consideration set
knock-off
online auctions
inelastic demand
16. 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
subculture
price lining
maturity stage
price-floor pricing
17. Products created when firms transform raw materials from their original state
convenience product
market manager
processed material
price elastic
18. The difference between the cost of the product and the selling price of the product
price bundling
continous innovation
knock-off
margin
19. Basic or necessary items that are available almost everywhere
demand curve
core product
fixed costs
staples
20. The practice of linking products to a particular social cause on an ongoing or short-term basis
cause-related marketing
trend analysis
profit objective
demand-based pricing
21. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
subculture
market
bid riggin
brand equity
22. The price the end customer is expected to pay as determined by the manufacturer
list price
f.o.b. delivered pricing
cannibalization
learning
23. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
macro marketing
convenience product
component parts
fixed costs
24. 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
fast-moving consumer goods
judgment
sales or market share objective
opinion leader
25. 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
time-series analysis
emergency product
non-cumulative quantity discounts
consumer behavior
26. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
trend analysis
cumulative quantity discounts
market segmentation
internal reference price
27. Pricing that is intended to have an effect on the marketing efforts of the competition
senior citizens
competitive effect objective
reference group
price maintenance
28. A social process that directs an economy
macro marketing
senior citizens
market manager
consumer behavior
29. A pricing strategy that considers the lifetime cost of using the product
test marketing
consideration set
benefit segmentation
cost of ownership
30. A product people often buy on the spur of the moment
regression analysis
impulse product
market manager
fixed costs
31. A situation in which an increase or a decrease in price will not significantly affect demand for the product
price inelastic
operant conditioning
inelastic demand
cycle analysis
32. The dimensions that consumers use to compare completing product alternatives
demand-based pricing
evaluative criteria
growth stage
market manager
33. Brands that the manufacturer of the product owns
trade or functional discounts
cause-related marketing
price leadership (follower)
national or manufacturer brands
34. Costs involved in moving from one brand to another
switching costs
consideration set
discetionary income
core product
35. A fairly homogeneous group of customers to whom a company wishes to appeal
combiners
judgment
target market
equipment
36. A strategy of experimenting with prices until the price that generates the highest profitability is found
learning
cognitive dissonance
experimental pricing
impulse product
37. An agreement between two brands to work together in marketing new or existing products
co-branding
baby boomers
online auctions
cognitive learning theory
38. A pricing tactic in which customers in different geographic zones pay different transportation rates
zone pricing
dynamically continuous innovation
pure subsistence economy
list price
39. 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
consumer behavior
self-concept
inelastic demand
40. The process by which people select - organize - and interpret information form the outside world
product market
perception
non-cumulative quantity discounts
trend analysis
41. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
customer forecasting survey
cycle analysis
cause-related marketing
portfolio management
42. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
online auctions
executive judgement
lifestyle
reference group
43. An integrated economic and social unit wit a large population nucleus
tipping point
cognitive dissonance
brand
metropolitan statistical area (msa)
44. The belief that use of a product has potentially negative consequences - either financial - physical or social
consumer satisfaction/dissatisfiaction
perceived risk
brand extension
price-floor pricing
45. People born between 1946 and 1964
combined market approach
baby boomers
quantity discounts
emergency product
46. 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
customer relationship management (crm)
perceived risk
product market
trademark
47. A pricing strategy in which a firm sets prices that provide ultimate value to customers
bait and switch
value pricing everyday low-pricing
mass selling
f.o.b. delivered pricing
48. Income that is adjusted to take out the effects of inflation on purchasing power
sustainability
real income
national or manufacturer brands
knock-off
49. When each family unit produces everything it consumes
pure subsistence economy
customer relationship management (crm)
self-concept
decline stage
50. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
brand loyalty
stimulus generalization
hierarchy of needs
maturity stage
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