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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 of a brand to an organization
brand equity
capacity management
brand manager
executive judgement
2. 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
goods
cognitive learning theory
loss-leader pricing
marketing ethics
3. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
variable pricing
consumer-to-consumer e-commerce
trade or functional discounts
clickstream analysis
4. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
growth stage
metropolitan statistical area (msa)
cannibalization
image enhancement objective
5. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
executive judgement
segmenting
culture
consumer behavior
6. An organizational unit that focuses on some product markets and is treated as a separate profit center
price
variable costs
segments
strategic business unit sbu
7. A product that consumers perceive to be new and different form existing products
innovation
tipping point
co-branding
multicultural marketing
8. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
bait and switch
discetionary income
penetration strategy
store or private-label brands
9. A pricing tactic of charging reduced prices for larger quantities of product
innovators
reference group
quantity discounts
customer satisfaction
10. The loss of sales of an existing product when a new item in a product line or product family is introduced
cannibalization
subculture
internal reference price
universal functions of marketing
11. A product people often buy on the spur of the moment
price
impulse product
growth stage
price discrimination
12. A social process that directs an economy
macro marketing
freight absorption pricing
judgment
cost of ownership
13. The overall feelings or attitude a person has about a product after purchasing it
product life cycle
cognitive dissonance
price lining
consumer satisfaction/dissatisfiaction
14. Learning that occurs as the result of rewards of punishments
executive judgement
augmented product
operant conditioning
micromarketing
15. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
equipment
heuristics
executive judgement
universal functions of marketing
16. 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
licensing
cost of ownership
brand loyalty
differentation
17. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
cost-plus pricing
sales forecast
diffusion
brand extension
18. The seller fine tunes the marketing effort with info from a detailed customer database
sustainability
customer relationship management (crm)
mass selling
trademark
19. When a percentage change in price results in a smaller percentage change in the quantity demanded
perception
competitive advantage
price inelastic
maturity stage
20. Products that exhibit consistently high velocity sales in the consumer marketplace
price elasticity
market test
test marketing
fast-moving consumer goods
21. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
penetration strategy
f.o.b. delivered pricing
customer satisfaction
product category manager
22. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
subculture
discontinuous innovation
portfolio management
margin
23. Discounts based on the total quantity bought within a specified time period
cumulative quantity discounts
consumer satisfaction/dissatisfiaction
maturity stage
family life cycle
24. A relatively permanent change in behavior caused by acquired information or experience
variable costs
product category manager
bait and switch
learning
25. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
family brand
gen y
shopping product
test marketing
26. 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
uniform delivered pricing
impulse product
nondurable goods
27. Expensive goods that an organization uses in its daily operations that last for a long time
mass marketing
early adopters
equipment
trade or functional discounts
28. A pricing strategy that considers the lifetime cost of using the product
consumer satisfaction/dissatisfiaction
metropolitan statistical area (msa)
cost of ownership
strategic business unit sbu
29. A strategy where prices are set significantly higher than competing brands
reference group
fixed costs
family life cycle
prestige pricing
30. Products that consumers purchase to signal membership in a desirable social class
sales forecast
processed material
status symbols
reciprocity
31. People over 65
inelastic demand
customer forecasting survey
senior citizens
segmenting
32. A change in beliefs or actions as a reaction to real or imagined group pressure
core product
conformity
trade or functional discounts
motivation
33. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
disintermediation
marketing ethics
unsought products
product adoption
34. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
operant conditioning
culture
gen x
multicultural marketing
35. 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
market
perceived risk
store or private-label brands
freight absorption pricing
36. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
consumer-to-consumer e-commerce
augmented product
variable costs
benefit segmentation
37. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
consumer-to-consumer e-commerce
tipping point
regression analysis
subculture
38. A situation in which an increase or a decrease in price will not significantly affect demand for the product
inelastic demand
gen x
actual product
price leadership (follower)
39. Pricing intended to establish a desired image or positioning to prospective customers
cognitive learning theory
image enhancement objective
executive judgement
licensing
40. Brands that are owned and sold by a specific - retailer or distributor
judgment
prestige pricing
brand
store or private-label brands
41. A new product that copies with slight modification the design of an original product
cause-related marketing
fast-moving consumer goods
knock-off
variable pricing
42. What is left of disposable income after paying for necessities
family life cycle
online auctions
discetionary income
cause-related marketing
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
metropolitan statistical area (msa)
brand
equipment
opinion leader
44. People born between 1946 and 1964
dynamically continuous innovation
baby boomers
laggards
price subsidies
45. 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
generic marketing
lifestyle
list price
46. The marketing mix is distinct from and better than what is available from a competitor
goods
augmented product
differentation
economics of scale
47. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
information search
generic marketing
pure subsistence economy
sales or market share objective
48. The last consumers to adopt the innovation
laggards
social class
metropolitan statistical area (msa)
nondurable goods
49. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
product line
market manager
captive pricing
fast-moving consumer goods
50. Costs of production that do not change with the number of units produced
SWOT analysis
licensing
fixed costs
brand loyalty