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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. The value that customers give up - or exchange - to obtain a desired product
price
multicultural marketing
random factor analysis
trademark
2. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
predatory pricing
convenience product
target marketing
reference group
3. The actual interaction between the customer and the service provider
staples
economics of scale
brand
service encounter
4. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
yield-management pricing
customer satisfaction
cost-plus pricing
status symbols
5. The marketing mix is distinct from and better than what is available from a competitor
quantity discounts
tipping point
differentation
sales forecast
6. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
f.o.b. delivered pricing
subculture
online auctions
frequent discounting
7. Products that exhibit consistently high velocity sales in the consumer marketplace
fast-moving consumer goods
specialty products
target market
qualifying dimensions
8. Pricing that is intended to have an effect on the marketing efforts of the competition
margin
maintenance - repair - and operating products
competitive effect objective
licensing
9. An agreement between two brands to work together in marketing new or existing products
co-branding
component parts
information search
laggards
10. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
cannibalization
market information function
lifestyle
market segment
11. Those that actually affect the customers purchase of specific product or brand in a product market
determining dimensions
qualifying dimensions
target costing
economics of scale
12. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
staples
price elasticity
involvment
product category manager
13. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top
hierarchy of needs
quantity discounts
frequent discounting
Delphi technique
14. The physical good or the delivered service that supplies the desired benefit
baby boomers
actual product
sustainability
culture
15. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
f.o.b. delivered pricing
price discrimination
customer forecasting survey
16. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
multiple target market approach
product life cycle
attitude
metropolitan statistical area (msa)
17. When a percentage change in price results in a larger percentage change in the quantity demanded
random factor analysis
family life cycle
price elastic
f.o.b. delivered pricing
18. The first segment (2.5%) of a population to adopt a new product
product market
innovators
customer forecasting survey
new product failure
19. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
price discrimination
maturity stage
non-cumulative quantity discounts
conformity
20. A new product sold with the same brand name as a strong existing brand
market segment
brand extension
opinion leader
demand-based pricing
21. Income that is adjusted to take out the effects of inflation on purchasing power
frequent discounting
real income
clustering techniques
zone pricing
22. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
marketing ethics
segmenting
price bundling
reference group
23. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
bait and switch
list price
skimming price
sales force forecasting survey
24. Tangible products we can see - touch - smell - hear - taste
sales force forecasting survey
goods
brand equity
lifestyle
25. A pricing strategy that considers the lifetime cost of using the product
behavioral learning theories
maturity stage
cost of ownership
early adopters
26. Segmenting the market and picking one of the homogeneous segments as the firms target market
quantity discounts
cost of ownership
single target market approach
operant conditioning
27. A product people often buy on the spur of the moment
benefit segmentation
consumer satisfaction/dissatisfiaction
impulse product
breakthrough opportunities
28. Costs involved in moving from one brand to another
judgment
Delphi technique
trend analysis
switching costs
29. A pricing tactic in which the seller absorbs the total cost of transportation
freight absorption pricing
market test
combiners
brand loyalty
30. The regret or remorse buyers may feel after making a purchase
cognitive dissonance
raw materials
segments
mass marketing
31. 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
cognitive learning theory
switching costs
strategic business unit sbu
convenience product
32. The belief that use of a product has potentially negative consequences - either financial - physical or social
diffusion
birthrate
sales or market share objective
perceived risk
33. Products created when firms transform raw materials from their original state
culture
sustainability
processed material
behavioral learning theories
34. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
trade or functional discounts
consideration set
social class
consumer-to-consumer e-commerce
35. The dimensions that consumers use to compare completing product alternatives
evaluative criteria
diffusion
heuristics
trademark
36. 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
opinion leader
convenience product
market manager
uniform delivered pricing
37. The process by which organization adjust their offering in an attempt to match demand
capacity management
SWOT analysis
price inelastic
market
38. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income
price discrimination
licensing
social class
f.o.b. origin pricing
39. The strategy of selling products at unreasonably low prices to drive competitors out of business
opportunity cost
real income
cycle analysis
predatory pricing
40. 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
status symbols
trade or functional discounts
diffusion
licensing
41. E-commerce that allows shoppers to purchase products through online bidding
portfolio management
consumer behavior
cumulative quantity discounts
online auctions
42. An internal state that drives us to satisfy needs by activating goal-oriented behavior
skimming price
culture
motivation
zone pricing
43. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
internal reference price
macro marketing
early majority
yield-management pricing
44. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
bait and switch
captive pricing
product life cycle
sales or market share objective
45. The pricing strategy of setting prices below cost to attract customers into a store
licensing
freight absorption pricing
status symbols
loss-leader pricing
46. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
convenience product
product market
core product
mass marketing
47. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
online auctions
expert forecasting survey
cognitive dissonance
capacity management
48. The difference between the cost of the product and the selling price of the product
multiple target market approach
margin
consideration set
cause-related marketing
49. Number of babies born per 1000 people fluctuated greatly in last 65 years
birthrate
price elasticity
customer satisfaction
disintermediation
50. The price the end customer is expected to pay as determined by the manufacturer
actual product
service encounter
list price
non-cumulative quantity discounts