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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. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
clickstream analysis
penetration strategy
durable goods
price-floor pricing
2. Charging a very high - premium price for a new product
list price
information search
skimming price
multiple target market approach
3. People over 65
component parts
status symbols
empty nesters
senior citizens
4. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
reference group
late majority
service encounter
SWOT analysis
5. A new product that copies with slight modification the design of an original product
knock-off
clickstream analysis
marketing ethics
micromarketing
6. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs
competitive advantage
qualifying dimensions
market
early majority
7. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
predatory pricing
brand extension
experimental pricing
expert forecasting survey
8. The price the end customer is expected to pay as determined by the manufacturer
list price
target marketing
value pricing everyday low-pricing
bid riggin
9. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
equipment
multicultural marketing
price elasticity
stimulus generalization
10. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
variable costs
clickstream analysis
combined market approach
introduction
11. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
early adopters
cycle analysis
early majority
judgment
12. 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
augmented product
capacity management
equipment
unsought products
13. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
benefit segmentation
sales forecast
raw materials
economics of scale
14. The psychological characteristics that consistently influence the way a person responds to situations in the environment
multicultural marketing
evaluative criteria
switching costs
personality
15. A change in beliefs or actions as a reaction to real or imagined group pressure
strategic business unit sbu
seasonal analysis
conformity
economics of scale
16. An agreement between two brands to work together in marketing new or existing products
sustainability
disposable income
freight absorption pricing
co-branding
17. The first segment (2.5%) of a population to adopt a new product
self-concept
internal reference price
cost of ownership
innovators
18. An arrangement unique to business marketing in which two organizations agree to buy from each other
reciprocity
cycle analysis
combined market approach
consideration set
19. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
reciprocity
reference group
inelastic demand
internal reference price
20. The practice of linking products to a particular social cause on an ongoing or short-term basis
cause-related marketing
unsought products
culture
sales or market share objective
21. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase
differentation
combiners
late majority
tipping point
22. The strategy of selling products at unreasonably low prices to drive competitors out of business
variable costs
predatory pricing
consumer satisfaction/dissatisfiaction
value pricing everyday low-pricing
23. Number of babies born per 1000 people fluctuated greatly in last 65 years
early majority
benefit segmentation
store or private-label brands
birthrate
24. Tohose whose adoption to a new product signals a general acceptance of the innovation
early majority
venture teams
demand-based pricing
benefit segmentation
25. Discounts based only on the quantity purchased in individual orders
early adopters
price maintenance
non-cumulative quantity discounts
sales force forecasting survey
26. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
zone pricing
seasonal analysis
fast-moving consumer goods
self-concept
27. A means of measuring a website's success by tracking customers' movement around the company website
zone pricing
raw materials
market
clickstream analysis
28. Costs involved in using a product
strategic business unit sbu
perceived risk
operating costs
cause-related marketing
29. When a percentage change in price results in a larger percentage change in the quantity demanded
yield-management pricing
value pricing everyday low-pricing
predatory pricing
price elastic
30. A modification of an existing product that sets one brand apart from its competitors
consumer-to-consumer e-commerce
bait and switch
lifestyle
continous innovation
31. A relatively permanent change in behavior caused by acquired information or experience
market
nondurable goods
innovation
learning
32. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
sales forecast
early majority
opinion leader
33. Group of people within an organization who focus exclusively on the development of a new product
venture teams
reciprocity
price elasticity
sales force forecasting survey
34. Pricing products with a focus on a target level of profit growth or a desired net profit margin
profit objective
evaluative criteria
equipment
time-series analysis
35. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
mass marketing
heuristics
price discrimination
involvment
36. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
emergency product
yield-management pricing
diffusion
test marketing
37. A price-setting method based on estimated of demand at different prices
national or manufacturer brands
demand-based pricing
determining dimensions
brand extension
38. The actual interaction between the customer and the service provider
family life cycle
umbrella pricing
seasonal analysis
service encounter
39. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
service encounter
consumer behavior
dynamic pricing
specialty products
40. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
licensing
emergency product
brand loyalty
sex roles
41. The last consumers to adopt the innovation
raw materials
family life cycle
price discrimination
laggards
42. Sales forecasting based on the intuition of one or more executives
market segmentation
customer satisfaction objective
executive judgement
family life cycle
43. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
metropolitan statistical area (msa)
gen x
operant conditioning
universal functions of marketing
44. 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
decline stage
cycle analysis
bait and switch
classical conditioning
45. A brand that a group of individual products or individual brands share
family brand
evaluative criteria
opinion leader
venture teams
46. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
clustering techniques
perceived risk
subculture
conformity
47. A pricing tactic in which customers in different geographic zones pay different transportation rates
clickstream analysis
market manager
perceived risk
zone pricing
48. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
actual product
multiple target market approach
price-floor pricing
price lining
49. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
introduction
sustainability
market segment
gen y
50. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
product market
raw materials
combined market approach
trial pricing