SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
gen x
specialty products
universal functions of marketing
disposable income
2. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
augmented product
internal reference price
disintermediation
experimental pricing
3. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
self-concept
segments
penetration strategy
venture teams
4. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
SWOT analysis
growth stage
price maintenance
real income
5. 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
behavioral learning theories
introduction
price bundling
classical conditioning
6. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
segments
executive judgement
consumer behavior
prestige pricing
7. The collaboration of two or more firms in setting prices - usually to keep prices high
innovation
early adopters
price maintenance
competitive advantage
8. Products that consumers purchase to signal membership in a desirable social class
status symbols
market test
f.o.b. origin pricing
maturity stage
9. The practice of exchanging a good or service for another good or service of like value
convenience product
goods
macro marketing
bartering
10. 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
experimental pricing
bait and switch
prestige pricing
cannibalization
11. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
augmented product
stimulus generalization
sales or market share objective
12. A firm's total product offering designed to satisfy a single need or desire of target customers
market segment
product line
shopping product
strategic business unit sbu
13. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
bartering
macro marketing
price elastic
random factor analysis
14. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer
involvment
f.o.b. origin pricing
discontinuous innovation
mass marketing
15. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
staples
customer forecasting survey
status symbols
cycle analysis
16. Discounts based only on the quantity purchased in individual orders
quantity discounts
customer relationship management (crm)
non-cumulative quantity discounts
combined market approach
17. The division of a market according to benefits that consumers want from the product
benefit segmentation
experimental pricing
demand-based pricing
metropolitan statistical area (msa)
18. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit
frequent discounting
sustainability
price discrimination
cost-plus pricing
19. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
market manager
operating costs
personality
demand-based pricing
20. The process by which the use of a product spreads throughout the population
brand extension
introduction
diffusion
dynamically continuous innovation
21. The first segment (2.5%) of a population to adopt a new product
shopping product
innovators
new product failure
sex roles
22. Products created when firms transform raw materials from their original state
processed material
heuristics
innovators
late majority
23. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
economics of scale
frequent discounting
family brand
quantity discounts
24. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
experimental pricing
marketing ethics
lifestyle
licensing
25. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
test marketing
subculture
profit objective
competitive advantage
26. Expensive goods that an organization uses in its daily operations that last for a long time
generic marketing
single target market approach
equipment
brand extension
27. A new product that does not reach expectations for success - failing to reach sales objectives set
strategic business unit sbu
clickstream analysis
conformity
new product failure
28. A flexible pricing strategy that reflects what individual customers are willing to pay
knock-off
price
variable pricing
umbrella pricing
29. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
internal reference price
operating costs
consumer-to-consumer e-commerce
knock-off
30. A pricing strategy in which a firm sets prices that provide ultimate value to customers
value pricing everyday low-pricing
yield-management pricing
competitive effect objective
shopping product
31. A relatively permanent change in behavior caused by acquired information or experience
learning
demand-based pricing
classical conditioning
benefit segmentation
32. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production
price-floor pricing
target marketing
maintenance - repair - and operating products
judgment
33. A product people often buy on the spur of the moment
impulse product
differentation
target costing
switching costs
34. The practice of setting a limited number of different specific prices - called price points - for items in a product line
test marketing
opinion leader
price lining
sales force forecasting survey
35. A new product sold with the same brand name as a strong existing brand
brand extension
birthrate
motivation
venture teams
36. The overall feelings or attitude a person has about a product after purchasing it
shopping product
competitive advantage
trial pricing
consumer satisfaction/dissatisfiaction
37. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer
sales force forecasting survey
market information function
f.o.b. delivered pricing
mass selling
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
social class
margin
predatory pricing
image enhancement objective
39. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
convenience product
sales force forecasting survey
tipping point
customer satisfaction objective
40. A change in an existing product that requires a moderate amount of learning or behavior change
dynamically continuous innovation
price leadership (follower)
multiple target market approach
early majority
41. A pricing tactic of charging reduced prices for larger quantities of product
knock-off
quantity discounts
family brand
test marketing
42. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same
discontinuous innovation
regression analysis
demand curve
social class
43. 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
baby boomers
freight absorption pricing
brand
impulse product
44. Tangible products we can see - touch - smell - hear - taste
bid riggin
bait and switch
goods
reference group
45. Costs involved in using a product
knock-off
operating costs
micromarketing
strategic business unit sbu
46. A modification of an existing product that sets one brand apart from its competitors
competitive advantage
fast-moving consumer goods
continous innovation
determining dimensions
47. The marketing mix is distinct from and better than what is available from a competitor
family brand
differentation
f.o.b. origin pricing
uniform delivered pricing
48. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri
culture
target costing
customer satisfaction
experimental pricing
49. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
market manager
target market
strategic business unit sbu
variable costs
50. Number of babies born per 1000 people fluctuated greatly in last 65 years
cycle analysis
actual product
mass marketing
birthrate