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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. Products we purchase when we're in dire need
customer forecasting survey
culture
judgment
emergency product
2. Group of people within an organization who focus exclusively on the development of a new product
brand manager
venture teams
price leadership (follower)
real income
3. When a percentage change in price results in a larger percentage change in the quantity demanded
price elastic
random factor analysis
staples
price leadership (follower)
4. A manager who is responsible for developing and implementing the marketing plan for a single brand
goods
price elastic
brand manager
variable costs
5. A modification of an existing product that sets one brand apart from its competitors
continous innovation
yield-management pricing
market test
target costing
6. Basic or necessary items that are available almost everywhere
motivation
staples
combined market approach
status symbols
7. The value of a brand to an organization
sales force forecasting survey
dynamically continuous innovation
brand equity
actual product
8. A change in beliefs or actions as a reaction to real or imagined group pressure
time-series analysis
conformity
judgment
multicultural marketing
9. 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
diffusion
tipping point
fixed costs
demand curve
10. Expensive goods that an organization uses in its daily operations that last for a long time
equipment
demand-based pricing
convenience product
operant conditioning
11. To try to increase the size of their target markets by combining two or more segments
cognitive dissonance
portfolio management
combiners
opportunity cost
12. A strategy of experimenting with prices until the price that generates the highest profitability is found
consumer behavior
price subsidies
experimental pricing
segments
13. A fairly homogeneous group of customers to whom a company wishes to appeal
seasonal analysis
capacity management
classical conditioning
target market
14. An internal state that drives us to satisfy needs by activating goal-oriented behavior
learning
frequent discounting
cognitive learning theory
motivation
15. The psychological characteristics that consistently influence the way a person responds to situations in the environment
store or private-label brands
personality
benefit segmentation
senior citizens
16. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
segmenting
umbrella pricing
real income
trend analysis
17. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
yield-management pricing
product adoption
variable costs
differentation
18. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
raw materials
market manager
hierarchy of needs
loss-leader pricing
19. The strategy of selling products at unreasonably low prices to drive competitors out of business
predatory pricing
non-cumulative quantity discounts
unsought products
reciprocity
20. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
component parts
bid riggin
clickstream analysis
umbrella pricing
21. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
price discrimination
senior citizens
customer satisfaction objective
trade or functional discounts
22. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
differentation
product category manager
market segmentation
market segment
23. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue
culture
Delphi technique
executive judgement
regression analysis
24. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
competitive effect objective
SWOT analysis
tipping point
demand-based pricing
25. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
involvment
brand manager
universal functions of marketing
switching costs
26. Products that consumers purchase to signal membership in a desirable social class
status symbols
strategic business unit sbu
cycle analysis
operating costs
27. A pricing strategy in which a firm sets prices that provide ultimate value to customers
value pricing everyday low-pricing
trademark
freight absorption pricing
skimming price
28. 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
product category manager
online auctions
internal reference price
29. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
breakthrough opportunities
learning
brand equity
segments
30. Brands that the manufacturer of the product owns
national or manufacturer brands
segments
family life cycle
motivation
31. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus
cannibalization
fixed costs
augmented product
classical conditioning
32. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
micromarketing
captive pricing
innovation
brand manager
33. When a percentage change in price results in a smaller percentage change in the quantity demanded
variable pricing
shopping product
behavioral learning theories
price inelastic
34. An aggregating process - clustering people with similar needs into a "market segment"
qualifying dimensions
sales forecast
segmenting
price bundling
35. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
price leadership (follower)
subculture
tipping point
price-floor pricing
36. Costs involved in using a product
operating costs
innovation
product life cycle
early majority
37. The collaboration of two or more firms in setting prices - usually to keep prices high
gen x
disintermediation
continous innovation
price maintenance
38. The last consumers to adopt the innovation
test marketing
laggards
uniform delivered pricing
self-concept
39. Costs involved in moving from one brand to another
innovation
sex roles
switching costs
skimming price
40. A pricing strategy that considers the lifetime cost of using the product
mass marketing
cost of ownership
segmenting
sales forecast
41. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
attitude
variable pricing
clickstream analysis
price subsidies
42. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
reference group
captive pricing
economics of scale
portfolio management
43. The pricing strategy of setting prices below cost to attract customers into a store
loss-leader pricing
discetionary income
product life cycle
disintermediation
44. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
perception
fixed costs
prestige pricing
portfolio management
45. Discounts based only on the quantity purchased in individual orders
non-cumulative quantity discounts
online auctions
emergency product
inelastic demand
46. A pricing tactic of charging reduced prices for larger quantities of product
benefit segmentation
quantity discounts
innovators
durable goods
47. The process by which people select - organize - and interpret information form the outside world
impulse product
generic marketing
executive judgement
perception
48. Pricing a new product low for a limited period of time to lower the risk for a customer
trade or functional discounts
national or manufacturer brands
perception
trial pricing
49. A strategy where prices are set significantly higher than competing brands
cumulative quantity discounts
reference group
prestige pricing
cost of ownership
50. A strategy of ducking under a competitor's price by a fixed percentage
multiple target market approach
umbrella pricing
brand manager
customer relationship management (crm)