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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. Sales forecasting based on the intuition of one or more executives
uniform delivered pricing
impulse product
executive judgement
sales forecast
2. The overall feelings or attitude a person has about a product after purchasing it
consumer satisfaction/dissatisfiaction
maturity stage
motivation
marketing ethics
3. Refers to the generation born immediately following the baby boom - from 1965-1977
combiners
specialty products
gen x
licensing
4. The last consumers to adopt the innovation
hierarchy of needs
laggards
cause-related marketing
trademark
5. Products we purchase when we're in dire need
raw materials
emergency product
store or private-label brands
trial pricing
6. The physical good or the delivered service that supplies the desired benefit
bartering
brand extension
yield-management pricing
actual product
7. Pricing products to maximize sales or to attain a desired level of sales or market share
lifestyle
sales or market share objective
price bundling
culture
8. A product that consumers perceive to be new and different form existing products
cause-related marketing
reciprocity
attitude
innovation
9. An arrangement unique to business marketing in which two organizations agree to buy from each other
reciprocity
growth stage
combiners
operant conditioning
10. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
staples
sustainability
fast-moving consumer goods
operant conditioning
11. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
sustainability
economics of scale
variable costs
cost-plus pricing
12. A totally new product that creates major changes in the way we live
cumulative quantity discounts
clustering techniques
discontinuous innovation
price subsidies
13. The seller fine tunes the marketing effort with info from a detailed customer database
new product failure
introduction
internal reference price
customer relationship management (crm)
14. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
brand loyalty
generic marketing
f.o.b. origin pricing
information search
15. The belief that use of a product has potentially negative consequences - either financial - physical or social
market test
service encounter
market
perceived risk
16. The first segment (2.5%) of a population to adopt a new product
metropolitan statistical area (msa)
strategic business unit sbu
innovators
umbrella pricing
17. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
maturity stage
customer relationship management (crm)
heuristics
growth stage
18. The process by which the use of a product spreads throughout the population
dynamically continuous innovation
micromarketing
prestige pricing
diffusion
19. E-commerce that allows shoppers to purchase products through online bidding
online auctions
price elastic
f.o.b. delivered pricing
brand extension
20. The relative importance of perceived consequences of the purchase to a consumer
seasonal analysis
prestige pricing
involvment
freight absorption pricing
21. When a percentage change in price results in a smaller percentage change in the quantity demanded
price inelastic
late majority
consumer satisfaction/dissatisfiaction
processed material
22. A means of measuring a website's success by tracking customers' movement around the company website
clickstream analysis
f.o.b. origin pricing
disposable income
maturity stage
23. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
judgment
licensing
store or private-label brands
augmented product
24. 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
clickstream analysis
introduction
discetionary income
social class
25. Extent to which a firm fulfills a customers needs - desires - and expectations
cannibalization
motivation
customer satisfaction
combined market approach
26. 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
service encounter
brand loyalty
value pricing everyday low-pricing
cognitive learning theory
27. 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
gen x
classical conditioning
market information function
product adoption
28. The collaboration of two or more firms in setting prices - usually to keep prices high
continous innovation
opinion leader
price maintenance
product line
29. Pricing products with a focus on a target level of profit growth or a desired net profit margin
profit objective
sales forecast
economics of scale
brand extension
30. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
clickstream analysis
reciprocity
sex roles
status symbols
31. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
judgment
market segment
raw materials
uniform delivered pricing
32. A marketing mix is tailored to fit some specific target customers
trade or functional discounts
prestige pricing
innovators
target marketing
33. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
senior citizens
portfolio management
product adoption
consumer behavior
34. A change in an existing product that requires a moderate amount of learning or behavior change
differentation
decline stage
price inelastic
dynamically continuous innovation
35. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
metropolitan statistical area (msa)
micromarketing
goods
maintenance - repair - and operating products
36. The regret or remorse buyers may feel after making a purchase
umbrella pricing
cognitive dissonance
customer relationship management (crm)
pure subsistence economy
37. Income that is adjusted to take out the effects of inflation on purchasing power
real income
price maintenance
component parts
opportunity cost
38. The actual interaction between the customer and the service provider
cause-related marketing
service encounter
cost-plus pricing
universal functions of marketing
39. When a percentage change in price results in a larger percentage change in the quantity demanded
growth stage
price elastic
maintenance - repair - and operating products
competitive advantage
40. The loss of sales of an existing product when a new item in a product line or product family is introduced
actual product
loss-leader pricing
penetration strategy
cannibalization
41. 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
target costing
laggards
core product
target market
42. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
clickstream analysis
diffusion
subculture
consumer satisfaction/dissatisfiaction
43. To try to increase the size of their target markets by combining two or more segments
opinion leader
combiners
equipment
price maintenance
44. The value of something that is given up to obtain something else
opportunity cost
empty nesters
store or private-label brands
venture teams
45. The value of a brand to an organization
brand equity
unsought products
fast-moving consumer goods
trademark
46. A product people often buy on the spur of the moment
competitive advantage
customer satisfaction objective
impulse product
product market
47. The pricing strategy of setting prices below cost to attract customers into a store
customer satisfaction
loss-leader pricing
customer satisfaction objective
knock-off
48. Relevant to including a customer type in a product market
value pricing everyday low-pricing
customer relationship management (crm)
qualifying dimensions
product adoption
49. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
bid riggin
bartering
breakthrough opportunities
component parts
50. A pricing tactic in which customers in different geographic zones pay different transportation rates
zone pricing
differentation
introduction
macro marketing