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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. 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
internal reference price
economics of scale
disposable income
cognitive learning theory
2. 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
sales force forecasting survey
cumulative quantity discounts
target costing
service encounter
3. The process by which people select - organize - and interpret information form the outside world
innovation
augmented product
perception
cost-plus pricing
4. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
umbrella pricing
nondurable goods
dynamic pricing
trial pricing
5. An aggregating process - clustering people with similar needs into a "market segment"
early majority
segmenting
multicultural marketing
product market
6. 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
subculture
price-floor pricing
learning
zone pricing
7. An agreement between two brands to work together in marketing new or existing products
co-branding
brand loyalty
social class
hierarchy of needs
8. A homogeneous group of customers who will respond to a marketing mix in a similiar way
pure subsistence economy
predatory pricing
loss-leader pricing
market segment
9. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes
opinion leader
market segmentation
new product failure
discontinuous innovation
10. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
family life cycle
target market
switching costs
breakthrough opportunities
11. The pricing strategy of setting prices below cost to attract customers into a store
baby boomers
universal functions of marketing
brand manager
loss-leader pricing
12. Those who adopt an innovation early in the diffusion process but later than the innovators
customer satisfaction objective
early adopters
sales force forecasting survey
maintenance - repair - and operating products
13. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
convenience product
tipping point
disintermediation
price bundling
14. What is left of disposable income after paying for necessities
variable costs
discetionary income
real income
innovators
15. A fairly homogeneous group of customers to whom a company wishes to appeal
empty nesters
component parts
target market
classical conditioning
16. 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
continous innovation
executive judgement
captive pricing
trade or functional discounts
17. Aim at one or more homogeneous segments and try to develop different marketing mix for each
variable pricing
sustainability
family brand
segments
18. 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
trademark
product line
product adoption
operating costs
19. When a percentage change in price results in a larger percentage change in the quantity demanded
price elastic
combiners
involvment
competitive effect objective
20. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
service encounter
combined market approach
customer forecasting survey
senior citizens
21. To try to find similar patterns within sets of data
unsought products
market segment
time-series analysis
clustering techniques
22. An arrangement unique to business marketing in which two organizations agree to buy from each other
disposable income
operating costs
component parts
reciprocity
23. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
portfolio management
product category manager
trademark
product life cycle
24. Brands that the manufacturer of the product owns
continous innovation
customer satisfaction
family brand
national or manufacturer brands
25. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
marketing ethics
cost of ownership
national or manufacturer brands
information search
26. Pricing products with a focus on a target level of profit growth or a desired net profit margin
multicultural marketing
price bundling
gen y
profit objective
27. The final stage in the product life cycle - in which sales decrease as customer needs change
decline stage
mass selling
disintermediation
attitude
28. A change in an existing product that requires a moderate amount of learning or behavior change
sales force forecasting survey
staples
consideration set
dynamically continuous innovation
29. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
predatory pricing
classical conditioning
portfolio management
product market
30. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
mass marketing
sex roles
mass selling
convenience product
31. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
single target market approach
market test
variable costs
behavioral learning theories
32. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories
motivation
market test
bid riggin
opinion leader
33. Expensive goods that an organization uses in its daily operations that last for a long time
equipment
margin
trend analysis
yield-management pricing
34. The value of something that is given up to obtain something else
switching costs
combined market approach
opportunity cost
disintermediation
35. Pricing products to maximize sales or to attain a desired level of sales or market share
mass marketing
competitive effect objective
segments
sales or market share objective
36. Costs of production that do not change with the number of units produced
captive pricing
loss-leader pricing
fixed costs
cost-plus pricing
37. A strategy where prices are set significantly higher than competing brands
clickstream analysis
uniform delivered pricing
trend analysis
prestige pricing
38. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
qualifying dimensions
consumer satisfaction/dissatisfiaction
augmented product
product line
39. The practice of exchanging a good or service for another good or service of like value
market manager
value pricing everyday low-pricing
bartering
qualifying dimensions
40. Combining two or more submarkets into one larger target market as a basis for one strategy
staples
brand manager
mass marketing
combined market approach
41. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
umbrella pricing
target market
product adoption
micromarketing
42. Learning that occurs as the result of rewards of punishments
operant conditioning
price subsidies
variable pricing
metropolitan statistical area (msa)
43. 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
real income
benefit segmentation
brand loyalty
44. Sales forecasting based on the intuition of one or more executives
tipping point
executive judgement
evaluative criteria
empty nesters
45. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
switching costs
experimental pricing
dynamic pricing
durable goods
46. Tangible products we can see - touch - smell - hear - taste
culture
goods
birthrate
list price
47. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
macro marketing
uniform delivered pricing
benefit segmentation
capacity management
48. Costs involved in moving from one brand to another
brand
clustering techniques
switching costs
conformity
49. 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
dynamic pricing
consumer behavior
licensing
list price
50. Products created when firms transform raw materials from their original state
innovation
processed material
price subsidies
pure subsistence economy