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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. Pricing a new product low for a limited period of time to lower the risk for a customer
equipment
trial pricing
bait and switch
consumer satisfaction/dissatisfiaction
2. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
macro marketing
online auctions
discetionary income
introduction
3. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
demand-based pricing
breakthrough opportunities
margin
seasonal analysis
4. 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
classical conditioning
capacity management
processed material
family brand
5. Sometimes called millenials - refer to those born from 1978-1994
gen y
late majority
cognitive learning theory
augmented product
6. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
core product
brand
portfolio management
consumer-to-consumer e-commerce
7. The dimensions that consumers use to compare completing product alternatives
social class
evaluative criteria
stimulus generalization
tipping point
8. Combining two or more submarkets into one larger target market as a basis for one strategy
licensing
sales force forecasting survey
tipping point
combined market approach
9. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
stimulus generalization
continous innovation
processed material
target market
10. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
demand-based pricing
core product
trademark
attitude
11. A means of measuring a website's success by tracking customers' movement around the company website
micromarketing
clickstream analysis
fast-moving consumer goods
brand manager
12. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
maturity stage
capacity management
dynamic pricing
inelastic demand
13. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
early adopters
service encounter
customer satisfaction objective
uniform delivered pricing
14. Income that is adjusted to take out the effects of inflation on purchasing power
culture
cumulative quantity discounts
list price
real income
15. Extent to which a firm fulfills a customers needs - desires - and expectations
customer satisfaction
cause-related marketing
attitude
price maintenance
16. To try to find similar patterns within sets of data
gen y
price elasticity
clustering techniques
target market
17. A totally new product that creates major changes in the way we live
discontinuous innovation
market manager
durable goods
baby boomers
18. The seller fine tunes the marketing effort with info from a detailed customer database
customer relationship management (crm)
price
core product
licensing
19. A change in beliefs or actions as a reaction to real or imagined group pressure
brand loyalty
motivation
conformity
freight absorption pricing
20. 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)
expert forecasting survey
brand extension
heuristics
21. An aggregating process - clustering people with similar needs into a "market segment"
late majority
cost of ownership
durable goods
segmenting
22. Tohose whose adoption to a new product signals a general acceptance of the innovation
product category manager
early majority
knock-off
evaluative criteria
23. When a percentage change in price results in a larger percentage change in the quantity demanded
mass selling
market test
variable pricing
price elastic
24. Those that actually affect the customers purchase of specific product or brand in a product market
discetionary income
price
determining dimensions
trend analysis
25. People born between 1946 and 1964
bid riggin
baby boomers
market information function
segments
26. Aim at one or more homogeneous segments and try to develop different marketing mix for each
actual product
hierarchy of needs
segments
diffusion
27. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
list price
trademark
bait and switch
bid riggin
28. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
product adoption
competitive effect objective
learning
maintenance - repair - and operating products
29. 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
prestige pricing
competitive advantage
market
switching costs
30. 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
margin
price
loss-leader pricing
Delphi technique
31. Tangible products we can see - touch - smell - hear - taste
product market
culture
cost-plus pricing
goods
32. A strategy where prices are set significantly higher than competing brands
prestige pricing
service encounter
universal functions of marketing
market segmentation
33. Products we purchase when we're in dire need
continous innovation
diffusion
emergency product
value pricing everyday low-pricing
34. A pricing strategy that considers the lifetime cost of using the product
cost of ownership
knock-off
maintenance - repair - and operating products
gen x
35. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country
service encounter
time-series analysis
decline stage
trademark
36. People whose children are grown and who are now able to spend their money in other ways
equipment
empty nesters
late majority
customer satisfaction
37. The pricing strategy of setting prices below cost to attract customers into a store
inelastic demand
non-cumulative quantity discounts
demand curve
loss-leader pricing
38. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
multicultural marketing
price elasticity
variable costs
time-series analysis
39. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
learning
specialty products
penetration strategy
growth stage
40. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
profit objective
sales force forecasting survey
seasonal analysis
store or private-label brands
41. Products that exhibit consistently high velocity sales in the consumer marketplace
brand equity
demand curve
fast-moving consumer goods
judgment
42. A modification of an existing product that sets one brand apart from its competitors
continous innovation
classical conditioning
maturity stage
fast-moving consumer goods
43. 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
goods
demand-based pricing
core product
44. The practice of exchanging a good or service for another good or service of like value
quantity discounts
bartering
loss-leader pricing
multiple target market approach
45. People over 65
operant conditioning
senior citizens
SWOT analysis
demand-based pricing
46. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
clustering techniques
price lining
market manager
breakthrough opportunities
47. A product people often buy on the spur of the moment
impulse product
predatory pricing
consumer-to-consumer e-commerce
micromarketing
48. The set of alternative brands the consumer is considering for the decision process
consideration set
reference group
conformity
brand manager
49. A pricing strategy in which a firm sets prices that provide ultimate value to customers
social class
brand manager
customer forecasting survey
value pricing everyday low-pricing
50. Number of babies born per 1000 people fluctuated greatly in last 65 years
birthrate
captive pricing
motivation
store or private-label brands