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. A brand that a group of individual products or individual brands share
differentation
family brand
consideration set
consumer-to-consumer e-commerce
2. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
customer satisfaction
raw materials
sustainability
core product
3. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
target costing
attitude
portfolio management
price subsidies
4. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses
shopping product
price
mass marketing
time-series analysis
5. Pricing a new product low for a limited period of time to lower the risk for a customer
early adopters
behavioral learning theories
trial pricing
perceived risk
6. The practice of linking products to a particular social cause on an ongoing or short-term basis
disposable income
social class
personality
cause-related marketing
7. The regret or remorse buyers may feel after making a purchase
customer satisfaction
target marketing
cognitive dissonance
consideration set
8. The relative importance of perceived consequences of the purchase to a consumer
consumer behavior
motivation
involvment
market test
9. The marketing mix is distinct from and better than what is available from a competitor
differentation
cost-plus pricing
perceived risk
operating costs
10. To try to find similar patterns within sets of data
stimulus generalization
brand loyalty
price-floor pricing
clustering techniques
11. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
test marketing
market manager
bid riggin
profit objective
12. Group of people within an organization who focus exclusively on the development of a new product
cannibalization
product market
cost of ownership
venture teams
13. 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
image enhancement objective
raw materials
random factor analysis
brand loyalty
14. The process of eliminating interaction between customers and service providers
competitive advantage
laggards
disintermediation
mass marketing
15. Tangible products we can see - touch - smell - hear - taste
price elastic
baby boomers
prestige pricing
goods
16. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
evaluative criteria
multicultural marketing
shopping product
self-concept
17. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
cycle analysis
trend analysis
learning
service encounter
18. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
disposable income
national or manufacturer brands
variable costs
conformity
19. Pricing products to maximize sales or to attain a desired level of sales or market share
sales or market share objective
behavioral learning theories
introduction
equipment
20. 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
bait and switch
early adopters
price inelastic
mass selling
21. The process by which the use of a product spreads throughout the population
durable goods
diffusion
trade or functional discounts
regression analysis
22. 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
learning
random factor analysis
culture
23. People born between 1946 and 1964
baby boomers
bait and switch
clickstream analysis
segmenting
24. What is left after taxes
yield-management pricing
knock-off
disposable income
metropolitan statistical area (msa)
25. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
trend analysis
introduction
uniform delivered pricing
customer satisfaction objective
26. The psychological characteristics that consistently influence the way a person responds to situations in the environment
personality
demand-based pricing
product adoption
brand equity
27. 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
demand curve
sex roles
trend analysis
social class
28. 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
demand curve
operant conditioning
captive pricing
actual product
29. A strategy where prices are set significantly higher than competing brands
prestige pricing
judgment
mass marketing
stimulus generalization
30. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas
market information function
continous innovation
staples
customer relationship management (crm)
31. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
cognitive learning theory
judgment
qualifying dimensions
dynamic pricing
32. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time
product life cycle
product market
emergency product
licensing
33. A change in beliefs or actions as a reaction to real or imagined group pressure
conformity
innovators
sustainability
price maintenance
34. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
impulse product
trend analysis
internal reference price
cumulative quantity discounts
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
value pricing everyday low-pricing
portfolio management
market
brand equity
36. The value of a brand to an organization
product line
customer forecasting survey
brand equity
late majority
37. Costs of production that do not change with the number of units produced
fixed costs
loss-leader pricing
breakthrough opportunities
variable pricing
38. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
price discrimination
trade or functional discounts
discetionary income
price subsidies
39. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
behavioral learning theories
sales forecast
seasonal analysis
consideration set
40. A pricing strategy that considers the lifetime cost of using the product
cost of ownership
test marketing
skimming price
cost-plus pricing
41. Pricing products with a focus on a target level of profit growth or a desired net profit margin
value pricing everyday low-pricing
sustainability
profit objective
market manager
42. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
predatory pricing
dynamic pricing
self-concept
durable goods
43. A means of characterizing consumers based on the different family stages they pass through as they grow older
consideration set
operating costs
culture
family life cycle
44. 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
portfolio management
classical conditioning
customer relationship management (crm)
processed material
45. 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
experimental pricing
f.o.b. origin pricing
product line
involvment
46. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
market information function
SWOT analysis
cause-related marketing
nondurable goods
47. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
gen x
information search
portfolio management
consumer-to-consumer e-commerce
48. A relatively permanent change in behavior caused by acquired information or experience
involvment
learning
product market
early majority
49. A marketing mix is tailored to fit some specific target customers
early majority
early adopters
price lining
target marketing
50. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
subculture
price subsidies
segmenting
expert forecasting survey