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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 market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
executive judgement
generic marketing
sales forecast
reference group
2. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
durable goods
breakthrough opportunities
Delphi technique
market information function
3. The physical good or the delivered service that supplies the desired benefit
online auctions
actual product
late majority
continous innovation
4. A totally new product that creates major changes in the way we live
culture
captive pricing
segments
discontinuous innovation
5. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top
hierarchy of needs
learning
opinion leader
involvment
6. Communicating with large numbers of customers at the same time
umbrella pricing
penetration strategy
mass selling
late majority
7. An aggregating process - clustering people with similar needs into a "market segment"
frequent discounting
combiners
continous innovation
segmenting
8. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief
price subsidies
disintermediation
random factor analysis
price-floor pricing
9. The division of a market according to benefits that consumers want from the product
behavioral learning theories
customer satisfaction objective
benefit segmentation
disintermediation
10. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
brand equity
multiple target market approach
regression analysis
new product failure
11. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
Delphi technique
determining dimensions
customer forecasting survey
attitude
12. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
birthrate
product line
market test
combiners
13. The price the end customer is expected to pay as determined by the manufacturer
early adopters
store or private-label brands
frequent discounting
list price
14. 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
price-floor pricing
target marketing
qualifying dimensions
bait and switch
15. Learning that occurs as the result of rewards of punishments
lifestyle
marketing ethics
discontinuous innovation
operant conditioning
16. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
senior citizens
combined market approach
image enhancement objective
information search
17. When each family unit produces everything it consumes
time-series analysis
actual product
pure subsistence economy
consumer satisfaction/dissatisfiaction
18. A strategy of frequently using sale prices to increase sales volume
frequent discounting
mass selling
consumer behavior
heuristics
19. Brands that the manufacturer of the product owns
national or manufacturer brands
differentation
trademark
cognitive learning theory
20. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase
late majority
value pricing everyday low-pricing
target costing
culture
21. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
zone pricing
discontinuous innovation
benefit segmentation
nondurable goods
22. Combining two or more submarkets into one larger target market as a basis for one strategy
actual product
combined market approach
new product failure
equipment
23. A strategy where prices are set significantly higher than competing brands
maturity stage
nondurable goods
image enhancement objective
prestige pricing
24. People whose children are grown and who are now able to spend their money in other ways
skimming price
disintermediation
empty nesters
family brand
25. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
price inelastic
actual product
brand manager
price discrimination
26. A pricing tactic in which the seller absorbs the total cost of transportation
freight absorption pricing
price discrimination
experimental pricing
information search
27. 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
baby boomers
segments
licensing
captive pricing
28. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
price subsidies
portfolio management
target costing
brand
29. The marketing mix is distinct from and better than what is available from a competitor
fixed costs
dynamically continuous innovation
differentation
internal reference price
30. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
judgment
stimulus generalization
culture
market test
31. The belief that use of a product has potentially negative consequences - either financial - physical or social
venture teams
learning
portfolio management
perceived risk
32. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
growth stage
breakthrough opportunities
market segmentation
time-series analysis
33. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
early adopters
lifestyle
trade or functional discounts
pure subsistence economy
34. The practice of linking products to a particular social cause on an ongoing or short-term basis
customer satisfaction
strategic business unit sbu
cause-related marketing
price leadership (follower)
35. The value that customers give up - or exchange - to obtain a desired product
price
trademark
qualifying dimensions
universal functions of marketing
36. The regret or remorse buyers may feel after making a purchase
disposable income
mass selling
cognitive dissonance
non-cumulative quantity discounts
37. Products created when firms transform raw materials from their original state
opinion leader
dynamically continuous innovation
market segmentation
processed material
38. A fairly homogeneous group of customers to whom a company wishes to appeal
benefit segmentation
trial pricing
target market
clickstream analysis
39. Moral standards that guide marketing decisions and actions
perceived risk
prestige pricing
marketing ethics
consumer satisfaction/dissatisfiaction
40. People born between 1946 and 1964
time-series analysis
baby boomers
internal reference price
market segmentation
41. A firm's total product offering designed to satisfy a single need or desire of target customers
non-cumulative quantity discounts
product line
market test
brand equity
42. A modification of an existing product that sets one brand apart from its competitors
evaluative criteria
combiners
segmenting
continous innovation
43. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
variable pricing
product life cycle
growth stage
perception
44. The strategy of selling products at unreasonably low prices to drive competitors out of business
subculture
uniform delivered pricing
predatory pricing
service encounter
45. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
learning
product category manager
perception
bait and switch
46. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit
cost-plus pricing
price bundling
clustering techniques
image enhancement objective
47. A change in beliefs or actions as a reaction to real or imagined group pressure
metropolitan statistical area (msa)
culture
conformity
uniform delivered pricing
48. 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
target marketing
consumer satisfaction/dissatisfiaction
product adoption
unsought products
49. Segmenting the market and picking one of the homogeneous segments as the firms target market
competitive advantage
nondurable goods
customer satisfaction
single target market approach
50. A change in an existing product that requires a moderate amount of learning or behavior change
dynamically continuous innovation
pure subsistence economy
clickstream analysis
customer forecasting survey