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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 physical good or the delivered service that supplies the desired benefit
price discrimination
market
test marketing
actual product
2. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
expert forecasting survey
innovation
list price
sales forecast
3. 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
qualifying dimensions
late majority
attitude
empty nesters
4. The division of a market according to benefits that consumers want from the product
competitive advantage
quantity discounts
strategic business unit sbu
benefit segmentation
5. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
micromarketing
early majority
staples
regression analysis
6. People whose children are grown and who are now able to spend their money in other ways
empty nesters
price lining
consumer behavior
price leadership (follower)
7. 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
brand loyalty
economics of scale
product category manager
brand extension
8. An arrangement unique to business marketing in which two organizations agree to buy from each other
diffusion
convenience product
reciprocity
zone pricing
9. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
market manager
benefit segmentation
market test
market segmentation
10. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
price subsidies
sales forecast
unsought products
penetration strategy
11. A price-setting method based on estimated of demand at different prices
profit objective
cost-plus pricing
evaluative criteria
demand-based pricing
12. Communicating with large numbers of customers at the same time
competitive effect objective
stimulus generalization
sales forecast
mass selling
13. 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
non-cumulative quantity discounts
target costing
captive pricing
frequent discounting
14. Combining two or more submarkets into one larger target market as a basis for one strategy
price discrimination
unsought products
value pricing everyday low-pricing
combined market approach
15. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
cycle analysis
component parts
gen y
equipment
16. Pricing intended to establish a desired image or positioning to prospective customers
cognitive learning theory
image enhancement objective
family brand
strategic business unit sbu
17. A pricing tactic in which customers in different geographic zones pay different transportation rates
zone pricing
online auctions
product adoption
early adopters
18. Pricing products to maximize sales or to attain a desired level of sales or market share
sales or market share objective
maintenance - repair - and operating products
behavioral learning theories
variable costs
19. A change in an existing product that requires a moderate amount of learning or behavior change
self-concept
goods
dynamically continuous innovation
umbrella pricing
20. Learning that occurs as the result of rewards of punishments
breakthrough opportunities
reference group
operant conditioning
perception
21. Tangible products we can see - touch - smell - hear - taste
goods
brand
national or manufacturer brands
disposable income
22. When a percentage change in price results in a smaller percentage change in the quantity demanded
generic marketing
price inelastic
image enhancement objective
customer satisfaction
23. 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
multiple target market approach
market
price discrimination
trial pricing
24. 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)
dynamic pricing
executive judgement
price discrimination
25. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
growth stage
subculture
emergency product
national or manufacturer brands
26. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
penetration strategy
determining dimensions
product category manager
mass marketing
27. Relevant to including a customer type in a product market
learning
introduction
qualifying dimensions
family brand
28. What is left after taxes
disposable income
classical conditioning
trade or functional discounts
real income
29. To try to increase the size of their target markets by combining two or more segments
combiners
status symbols
sales force forecasting survey
motivation
30. Sales forecasting based on the intuition of one or more executives
executive judgement
cost-plus pricing
regression analysis
price leadership (follower)
31. A change in beliefs or actions as a reaction to real or imagined group pressure
bid riggin
conformity
gen x
marketing ethics
32. Goods that a business customer consumes in a relatively short time
maintenance - repair - and operating products
consumer-to-consumer e-commerce
impulse product
bartering
33. A means of measuring a website's success by tracking customers' movement around the company website
introduction
clickstream analysis
time-series analysis
actual product
34. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
market segmentation
brand
introduction
loss-leader pricing
35. The practice of exchanging a good or service for another good or service of like value
bartering
learning
breakthrough opportunities
internal reference price
36. Sometimes called millenials - refer to those born from 1978-1994
price elastic
image enhancement objective
social class
gen y
37. The difference between the cost of the product and the selling price of the product
seasonal analysis
margin
perceived risk
cumulative quantity discounts
38. 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
classical conditioning
hierarchy of needs
39. The collaboration of two or more firms in setting prices - usually to keep prices high
price maintenance
consumer satisfaction/dissatisfiaction
reference group
expert forecasting survey
40. Refers to the generation born immediately following the baby boom - from 1965-1977
processed material
quantity discounts
market test
gen x
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
consideration set
consumer-to-consumer e-commerce
mass selling
brand
42. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
bait and switch
captive pricing
consideration set
random factor analysis
43. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
trend analysis
reciprocity
sales forecast
product category manager
44. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
non-cumulative quantity discounts
behavioral learning theories
price subsidies
hierarchy of needs
45. A relatively permanent change in behavior caused by acquired information or experience
cycle analysis
demand curve
learning
quantity discounts
46. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
target costing
consumer-to-consumer e-commerce
internal reference price
price discrimination
47. A strategy where prices are set significantly higher than competing brands
prestige pricing
sustainability
price
consumer-to-consumer e-commerce
48. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
involvment
bait and switch
operant conditioning
shopping product
49. The overall feelings or attitude a person has about a product after purchasing it
dynamically continuous innovation
stimulus generalization
convenience product
consumer satisfaction/dissatisfiaction
50. The value of something that is given up to obtain something else
subculture
raw materials
opportunity cost
product life cycle