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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 by which the use of a product spreads throughout the population
raw materials
store or private-label brands
diffusion
skimming price
2. A pricing tactic in which customers in different geographic zones pay different transportation rates
sex roles
discetionary income
breakthrough opportunities
zone pricing
3. Charging a very high - premium price for a new product
freight absorption pricing
classical conditioning
skimming price
macro marketing
4. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
multiple target market approach
cause-related marketing
dynamically continuous innovation
equipment
5. The value of a brand to an organization
price
Delphi technique
empty nesters
brand equity
6. The actual interaction between the customer and the service provider
service encounter
regression analysis
heuristics
variable pricing
7. Sometimes called millenials - refer to those born from 1978-1994
target costing
gen y
cognitive dissonance
generic marketing
8. When a percentage change in price results in a smaller percentage change in the quantity demanded
image enhancement objective
price inelastic
differentation
target market
9. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
durable goods
judgment
variable pricing
maintenance - repair - and operating products
10. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
macro marketing
differentation
uniform delivered pricing
market manager
11. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
staples
test marketing
product adoption
maturity stage
12. 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
market
reference group
consideration set
perceived risk
13. Pricing products to maximize sales or to attain a desired level of sales or market share
mass selling
price subsidies
seasonal analysis
sales or market share objective
14. A strategy of frequently using sale prices to increase sales volume
frequent discounting
price elasticity
late majority
continous innovation
15. A modification of an existing product that sets one brand apart from its competitors
switching costs
continous innovation
product adoption
list price
16. A totally new product that creates major changes in the way we live
durable goods
discontinuous innovation
uniform delivered pricing
micromarketing
17. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
information search
test marketing
image enhancement objective
trademark
18. A flexible pricing strategy that reflects what individual customers are willing to pay
pure subsistence economy
demand curve
variable pricing
store or private-label brands
19. The division of a market according to benefits that consumers want from the product
benefit segmentation
brand extension
core product
predatory pricing
20. To try to increase the size of their target markets by combining two or more segments
variable pricing
combiners
component parts
strategic business unit sbu
21. A strategy of ducking under a competitor's price by a fixed percentage
birthrate
umbrella pricing
uniform delivered pricing
durable goods
22. Products that exhibit consistently high velocity sales in the consumer marketplace
zone pricing
fast-moving consumer goods
switching costs
cognitive learning theory
23. The price the end customer is expected to pay as determined by the manufacturer
list price
mass marketing
variable costs
price elastic
24. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
brand
marketing ethics
cost-plus pricing
trend analysis
25. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
self-concept
senior citizens
growth stage
expert forecasting survey
26. A mental rule of thumb that leads to a speedy decision by simplifying the process
heuristics
marketing ethics
self-concept
impulse product
27. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
benefit segmentation
market manager
attitude
strategic business unit sbu
28. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
economics of scale
demand-based pricing
price bundling
test marketing
29. What is left of disposable income after paying for necessities
co-branding
discetionary income
single target market approach
brand manager
30. People over 65
senior citizens
variable pricing
laggards
target marketing
31. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
emergency product
sales force forecasting survey
penetration strategy
specialty products
32. Extent to which a firm fulfills a customers needs - desires - and expectations
f.o.b. delivered pricing
customer satisfaction
laggards
prestige pricing
33. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
combiners
price inelastic
bid riggin
lifestyle
34. Brands that are owned and sold by a specific - retailer or distributor
baby boomers
breakthrough opportunities
store or private-label brands
freight absorption pricing
35. A social process that directs an economy
specialty products
macro marketing
target costing
senior citizens
36. 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
clustering techniques
brand loyalty
cognitive dissonance
f.o.b. delivered pricing
37. When a percentage change in price results in a larger percentage change in the quantity demanded
price elastic
price
reciprocity
goods
38. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
cost of ownership
judgment
random factor analysis
stimulus generalization
39. The practice of exchanging a good or service for another good or service of like value
pure subsistence economy
trademark
variable pricing
bartering
40. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
market segmentation
operating costs
cycle analysis
shopping product
41. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
market manager
early adopters
expert forecasting survey
unsought products
42. The seller fine tunes the marketing effort with info from a detailed customer database
customer relationship management (crm)
qualifying dimensions
cost of ownership
profit objective
43. A manager who is responsible for developing and implementing the marketing plan for a single brand
price elastic
f.o.b. origin pricing
cumulative quantity discounts
brand manager
44. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
disposable income
consideration set
yield-management pricing
differentation
45. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
portfolio management
sales force forecasting survey
gen y
hierarchy of needs
46. The first segment (2.5%) of a population to adopt a new product
pure subsistence economy
innovators
fixed costs
core product
47. Pricing that is intended to maximize customer satisfaction and retention
price
cost of ownership
customer satisfaction objective
family brand
48. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
growth stage
experimental pricing
fast-moving consumer goods
discetionary income
49. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
consumer-to-consumer e-commerce
seasonal analysis
mass selling
executive judgement
50. People born between 1946 and 1964
status symbols
value pricing everyday low-pricing
clustering techniques
baby boomers