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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. The process of eliminating interaction between customers and service providers
price maintenance
product life cycle
disintermediation
cycle analysis
2. The value of something that is given up to obtain something else
umbrella pricing
licensing
customer relationship management (crm)
opportunity cost
3. The belief that use of a product has potentially negative consequences - either financial - physical or social
list price
perceived risk
mass marketing
processed material
4. Discounts based on the total quantity bought within a specified time period
augmented product
customer satisfaction
bid riggin
cumulative quantity discounts
5. 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
augmented product
new product failure
price subsidies
test marketing
6. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
price lining
test marketing
metropolitan statistical area (msa)
mass marketing
7. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
gen x
uniform delivered pricing
market
competitive advantage
8. 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
cognitive learning theory
conformity
qualifying dimensions
profit objective
9. 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
market segment
attitude
dynamic pricing
10. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
trial pricing
seasonal analysis
product category manager
cognitive learning theory
11. A strategy of frequently using sale prices to increase sales volume
frequent discounting
behavioral learning theories
cumulative quantity discounts
target marketing
12. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
random factor analysis
consideration set
predatory pricing
evaluative criteria
13. What is left of disposable income after paying for necessities
shopping product
cost of ownership
discetionary income
sales or market share objective
14. The final stage in the product life cycle - in which sales decrease as customer needs change
core product
capacity management
decline stage
price leadership (follower)
15. A new product that does not reach expectations for success - failing to reach sales objectives set
laggards
new product failure
market segment
switching costs
16. Pricing that is intended to have an effect on the marketing efforts of the competition
switching costs
consideration set
component parts
competitive effect objective
17. When a percentage change in price results in a larger percentage change in the quantity demanded
price elastic
f.o.b. delivered pricing
operating costs
brand equity
18. A change in beliefs or actions as a reaction to real or imagined group pressure
involvment
conformity
discontinuous innovation
market information function
19. A strategy of ducking under a competitor's price by a fixed percentage
determining dimensions
margin
umbrella pricing
opinion leader
20. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
sales force forecasting survey
product market
list price
sales forecast
21. A product people often buy on the spur of the moment
judgment
behavioral learning theories
impulse product
gen x
22. The practice of setting a limited number of different specific prices - called price points - for items in a product line
bartering
quantity discounts
price lining
cognitive dissonance
23. A manager who is responsible for developing and implementing the marketing plan for a single brand
social class
unsought products
introduction
brand manager
24. The regret or remorse buyers may feel after making a purchase
combined market approach
customer forecasting survey
cognitive dissonance
opinion leader
25. The marketing mix is distinct from and better than what is available from a competitor
customer satisfaction
differentation
price leadership (follower)
co-branding
26. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
online auctions
cycle analysis
empty nesters
internal reference price
27. 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
brand loyalty
price elastic
segments
benefit segmentation
28. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
multicultural marketing
store or private-label brands
price leadership (follower)
combiners
29. A price-setting method based on estimated of demand at different prices
brand manager
heuristics
demand-based pricing
clickstream analysis
30. To try to find similar patterns within sets of data
clustering techniques
price subsidies
brand
product category manager
31. 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
opinion leader
product category manager
brand
customer satisfaction
32. A flexible pricing strategy that reflects what individual customers are willing to pay
specialty products
trade or functional discounts
variable pricing
product line
33. An agreement between two brands to work together in marketing new or existing products
f.o.b. delivered pricing
co-branding
evaluative criteria
disintermediation
34. The pricing strategy of setting prices below cost to attract customers into a store
reciprocity
price elastic
loss-leader pricing
price elasticity
35. All the benefits the product will provide for consumers or business customers
core product
classical conditioning
brand
venture teams
36. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
price maintenance
uniform delivered pricing
multiple target market approach
hierarchy of needs
37. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
cycle analysis
price lining
sales force forecasting survey
convenience product
38. The overall feelings or attitude a person has about a product after purchasing it
customer relationship management (crm)
consumer satisfaction/dissatisfiaction
market information function
customer satisfaction objective
39. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
micromarketing
universal functions of marketing
skimming price
capacity management
40. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
sales force forecasting survey
lifestyle
price leadership (follower)
cannibalization
41. The value of a brand to an organization
brand equity
empty nesters
staples
growth stage
42. 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
bait and switch
Delphi technique
market segmentation
raw materials
43. People whose children are grown and who are now able to spend their money in other ways
introduction
empty nesters
customer relationship management (crm)
stimulus generalization
44. 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
seasonal analysis
trade or functional discounts
discetionary income
licensing
45. Products that exhibit consistently high velocity sales in the consumer marketplace
fast-moving consumer goods
baby boomers
product life cycle
metropolitan statistical area (msa)
46. When each family unit produces everything it consumes
pure subsistence economy
service encounter
reciprocity
value pricing everyday low-pricing
47. A means of characterizing consumers based on the different family stages they pass through as they grow older
product line
early majority
family life cycle
clustering techniques
48. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
self-concept
experimental pricing
innovation
staples
49. A pricing strategy in which a firm sets prices that provide ultimate value to customers
real income
internal reference price
service encounter
value pricing everyday low-pricing
50. A fairly homogeneous group of customers to whom a company wishes to appeal
variable pricing
target market
national or manufacturer brands
cumulative quantity discounts