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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 practice of exchanging a good or service for another good or service of like value
price discrimination
bartering
product adoption
conformity
2. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
product line
price discrimination
subculture
capacity management
3. A pricing tactic in which the seller absorbs the total cost of transportation
brand equity
gen y
freight absorption pricing
family life cycle
4. The belief that use of a product has potentially negative consequences - either financial - physical or social
consumer behavior
trend analysis
perceived risk
target marketing
5. 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
social class
price subsidies
cost of ownership
differentation
6. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition
reference group
brand loyalty
brand
combiners
7. 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
innovators
cumulative quantity discounts
trademark
segments
8. Expensive goods that an organization uses in its daily operations that last for a long time
equipment
non-cumulative quantity discounts
operant conditioning
random factor analysis
9. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
market manager
involvment
opportunity cost
bartering
10. Tohose whose adoption to a new product signals a general acceptance of the innovation
disintermediation
licensing
market
early majority
11. Combining two or more submarkets into one larger target market as a basis for one strategy
combined market approach
market information function
generic marketing
consumer-to-consumer e-commerce
12. Products that exhibit consistently high velocity sales in the consumer marketplace
Delphi technique
dynamic pricing
uniform delivered pricing
fast-moving consumer goods
13. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
non-cumulative quantity discounts
component parts
culture
penetration strategy
14. The relative importance of perceived consequences of the purchase to a consumer
involvment
multicultural marketing
regression analysis
consideration set
15. A situation in which an increase or a decrease in price will not significantly affect demand for the product
gen x
inelastic demand
SWOT analysis
market information function
16. 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
prestige pricing
cause-related marketing
bartering
17. A strategy of frequently using sale prices to increase sales volume
variable pricing
empty nesters
sales or market share objective
frequent discounting
18. Pricing a new product low for a limited period of time to lower the risk for a customer
strategic business unit sbu
operating costs
trial pricing
cognitive dissonance
19. Pricing products with a focus on a target level of profit growth or a desired net profit margin
macro marketing
opportunity cost
nondurable goods
profit objective
20. Refers to the generation born immediately following the baby boom - from 1965-1977
self-concept
demand-based pricing
gen x
umbrella pricing
21. Products we purchase when we're in dire need
behavioral learning theories
emergency product
trial pricing
dynamic pricing
22. 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
service encounter
yield-management pricing
margin
23. 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
captive pricing
staples
capacity management
differentation
24. A manager who is responsible for developing and implementing the marketing plan for a single brand
list price
loss-leader pricing
brand manager
profit objective
25. Moral standards that guide marketing decisions and actions
mass marketing
random factor analysis
price maintenance
marketing ethics
26. Pricing that is intended to maximize customer satisfaction and retention
multicultural marketing
value pricing everyday low-pricing
customer satisfaction objective
micromarketing
27. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
quantity discounts
random factor analysis
attitude
pure subsistence economy
28. A pricing strategy in which a firm sets prices that provide ultimate value to customers
metropolitan statistical area (msa)
random factor analysis
value pricing everyday low-pricing
culture
29. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
uniform delivered pricing
inelastic demand
convenience product
perception
30. The values - beliefs - customs - and tastes that a group of people value
social class
customer satisfaction objective
culture
f.o.b. delivered pricing
31. Pricing intended to establish a desired image or positioning to prospective customers
personality
image enhancement objective
metropolitan statistical area (msa)
bid riggin
32. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
late majority
behavioral learning theories
brand
convenience product
33. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
national or manufacturer brands
regression analysis
learning
customer satisfaction
34. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
judgment
emergency product
social class
universal functions of marketing
35. Income that is adjusted to take out the effects of inflation on purchasing power
generic marketing
real income
licensing
consumer-to-consumer e-commerce
36. The price the end customer is expected to pay as determined by the manufacturer
sales forecast
equipment
list price
fast-moving consumer goods
37. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
pure subsistence economy
freight absorption pricing
micromarketing
venture teams
38. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
maintenance - repair - and operating products
equipment
raw materials
product adoption
39. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
test marketing
sustainability
introduction
consumer-to-consumer e-commerce
40. A brand that a group of individual products or individual brands share
demand curve
non-cumulative quantity discounts
family brand
empty nesters
41. 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
empty nesters
customer satisfaction
demand-based pricing
brand
42. A new product that copies with slight modification the design of an original product
price inelastic
price-floor pricing
dynamically continuous innovation
knock-off
43. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
operant conditioning
competitive advantage
frequent discounting
market segment
44. A mental rule of thumb that leads to a speedy decision by simplifying the process
heuristics
test marketing
processed material
uniform delivered pricing
45. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item
fast-moving consumer goods
bait and switch
innovators
gen x
46. A means of characterizing consumers based on the different family stages they pass through as they grow older
determining dimensions
price
brand extension
family life cycle
47. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
core product
customer forecasting survey
processed material
price elastic
48. A change in beliefs or actions as a reaction to real or imagined group pressure
store or private-label brands
multicultural marketing
target marketing
conformity
49. 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)
reciprocity
decline stage
economics of scale
50. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
zone pricing
introduction
economics of scale
product life cycle