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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 percentage change in unit sales that results from a percentage change in price
hierarchy of needs
price elasticity
seasonal analysis
product adoption
2. A means of measuring a website's success by tracking customers' movement around the company website
goods
clickstream analysis
combiners
subculture
3. Pricing a new product low for a limited period of time to lower the risk for a customer
list price
cycle analysis
trial pricing
discontinuous innovation
4. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition
brand
attitude
competitive effect objective
store or private-label brands
5. A manager who is responsible for developing and implementing the marketing plan for a single brand
processed material
quantity discounts
time-series analysis
brand manager
6. Costs involved in using a product
early majority
competitive effect objective
operating costs
classical conditioning
7. The value of a brand to an organization
classical conditioning
brand equity
component parts
evaluative criteria
8. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
cause-related marketing
tipping point
specialty products
conformity
9. Selling two or more goods or services as a single package for one price
price-floor pricing
cumulative quantity discounts
convenience product
price bundling
10. Sometimes called millenials - refer to those born from 1978-1994
gen y
market test
processed material
innovators
11. Pricing intended to establish a desired image or positioning to prospective customers
captive pricing
image enhancement objective
self-concept
laggards
12. The practice of linking products to a particular social cause on an ongoing or short-term basis
maintenance - repair - and operating products
market information function
determining dimensions
cause-related marketing
13. The dimensions that consumers use to compare completing product alternatives
qualifying dimensions
price subsidies
evaluative criteria
venture teams
14. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
time-series analysis
random factor analysis
regression analysis
price lining
15. 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
perception
cognitive learning theory
list price
maturity stage
16. 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
gen y
senior citizens
hierarchy of needs
value pricing everyday low-pricing
17. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
maintenance - repair - and operating products
marketing ethics
time-series analysis
stimulus generalization
18. The loss of sales of an existing product when a new item in a product line or product family is introduced
cannibalization
fixed costs
gen y
unsought products
19. 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
experimental pricing
brand loyalty
discontinuous innovation
20. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
dynamically continuous innovation
regression analysis
conformity
tipping point
21. Costs of production that do not change with the number of units produced
price bundling
bait and switch
list price
fixed costs
22. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
generic marketing
predatory pricing
universal functions of marketing
component parts
23. When a percentage change in price results in a smaller percentage change in the quantity demanded
price inelastic
list price
test marketing
trend analysis
24. The process by which the use of a product spreads throughout the population
market
trial pricing
demand-based pricing
diffusion
25. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
behavioral learning theories
attitude
portfolio management
market segmentation
26. 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
price discrimination
brand
brand loyalty
umbrella pricing
27. The practice of setting a limited number of different specific prices - called price points - for items in a product line
price lining
price leadership (follower)
licensing
breakthrough opportunities
28. The value of something that is given up to obtain something else
consumer satisfaction/dissatisfiaction
trial pricing
opportunity cost
price bundling
29. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
maturity stage
consumer-to-consumer e-commerce
bid riggin
yield-management pricing
30. A price-setting method based on estimated of demand at different prices
product category manager
market manager
customer satisfaction
demand-based pricing
31. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
sales force forecasting survey
information search
diffusion
product line
32. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
equipment
maturity stage
trade or functional discounts
venture teams
33. People born between 1946 and 1964
perception
baby boomers
maturity stage
trend analysis
34. A means of characterizing consumers based on the different family stages they pass through as they grow older
family life cycle
reference group
variable costs
bid riggin
35. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
diffusion
behavioral learning theories
time-series analysis
price inelastic
36. A social process that directs an economy
core product
innovation
market manager
macro marketing
37. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
test marketing
new product failure
continous innovation
attitude
38. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
sales forecast
prestige pricing
qualifying dimensions
classical conditioning
39. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
cannibalization
processed material
multicultural marketing
non-cumulative quantity discounts
40. Products that exhibit consistently high velocity sales in the consumer marketplace
consumer satisfaction/dissatisfiaction
introduction
late majority
fast-moving consumer goods
41. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
f.o.b. delivered pricing
internal reference price
convenience product
maintenance - repair - and operating products
42. 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
f.o.b. origin pricing
reciprocity
Delphi technique
price discrimination
43. Brands that are owned and sold by a specific - retailer or distributor
store or private-label brands
target marketing
maintenance - repair - and operating products
product life cycle
44. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
augmented product
single target market approach
personality
subculture
45. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
maturity stage
multiple target market approach
licensing
augmented product
46. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
sales forecast
subculture
zone pricing
augmented product
47. Discounts based on the total quantity bought within a specified time period
product life cycle
impulse product
cumulative quantity discounts
freight absorption pricing
48. When a percentage change in price results in a larger percentage change in the quantity demanded
price elastic
pure subsistence economy
knock-off
quantity discounts
49. Brands that the manufacturer of the product owns
goods
lifestyle
consideration set
national or manufacturer brands
50. The first segment (2.5%) of a population to adopt a new product
laggards
marketing ethics
innovators
time-series analysis