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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 very similar needs and sellers offering various close substitute ways of satisfying those needs
switching costs
micromarketing
product market
mass marketing
2. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
competitive advantage
prestige pricing
disintermediation
generic marketing
3. A change in beliefs or actions as a reaction to real or imagined group pressure
brand
conformity
heuristics
price elastic
4. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
cost of ownership
price discrimination
market information function
market segment
5. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
uniform delivered pricing
image enhancement objective
price subsidies
shopping product
6. The last consumers to adopt the innovation
Delphi technique
emergency product
laggards
late majority
7. Pricing that is intended to maximize customer satisfaction and retention
breakthrough opportunities
bartering
customer satisfaction objective
raw materials
8. An organizational unit that focuses on some product markets and is treated as a separate profit center
family brand
strategic business unit sbu
market segmentation
cycle analysis
9. A pricing strategy in which a firm sets prices that provide ultimate value to customers
expert forecasting survey
value pricing everyday low-pricing
target costing
freight absorption pricing
10. Pricing that is intended to have an effect on the marketing efforts of the competition
growth stage
gen x
competitive effect objective
price subsidies
11. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
status symbols
raw materials
product category manager
expert forecasting survey
12. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
information search
family life cycle
perception
mass selling
13. An aggregating process - clustering people with similar needs into a "market segment"
learning
heuristics
frequent discounting
segmenting
14. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
pure subsistence economy
fixed costs
lifestyle
competitive advantage
15. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
universal functions of marketing
product market
nondurable goods
emergency product
16. An agreement between two brands to work together in marketing new or existing products
price-floor pricing
co-branding
f.o.b. delivered pricing
disintermediation
17. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
micromarketing
sales forecast
brand loyalty
innovation
18. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
early majority
involvment
product adoption
expert forecasting survey
19. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
consumer behavior
reciprocity
brand manager
list price
20. Learning that occurs as the result of rewards of punishments
operant conditioning
gen y
customer satisfaction objective
licensing
21. A modification of an existing product that sets one brand apart from its competitors
list price
continous innovation
product life cycle
stimulus generalization
22. People born between 1946 and 1964
social class
shopping product
baby boomers
product market
23. A product people often buy on the spur of the moment
impulse product
evaluative criteria
determining dimensions
judgment
24. Group of people within an organization who focus exclusively on the development of a new product
co-branding
internal reference price
profit objective
venture teams
25. The difference between the cost of the product and the selling price of the product
customer satisfaction
skimming price
margin
demand curve
26. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
customer satisfaction
judgment
early majority
cycle analysis
27. The dimensions that consumers use to compare completing product alternatives
operant conditioning
evaluative criteria
predatory pricing
yield-management pricing
28. The regret or remorse buyers may feel after making a purchase
product category manager
prestige pricing
fixed costs
cognitive dissonance
29. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
cause-related marketing
list price
internal reference price
birthrate
30. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
nondurable goods
family life cycle
empty nesters
seasonal analysis
31. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
portfolio management
operant conditioning
co-branding
nondurable goods
32. The process by which people select - organize - and interpret information form the outside world
reciprocity
consumer-to-consumer e-commerce
cumulative quantity discounts
perception
33. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
brand extension
mass marketing
price-floor pricing
product life cycle
34. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
consumer-to-consumer e-commerce
nondurable goods
generic marketing
bid riggin
35. 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
component parts
growth stage
convenience product
36. The value that customers give up - or exchange - to obtain a desired product
dynamic pricing
metropolitan statistical area (msa)
time-series analysis
price
37. Sometimes called millenials - refer to those born from 1978-1994
product life cycle
price elastic
personality
gen y
38. The loss of sales of an existing product when a new item in a product line or product family is introduced
personality
reciprocity
cannibalization
executive judgement
39. A flexible pricing strategy that reflects what individual customers are willing to pay
variable pricing
innovation
mass marketing
impulse product
40. Those that actually affect the customers purchase of specific product or brand in a product market
uniform delivered pricing
determining dimensions
baby boomers
cost of ownership
41. 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
innovation
determining dimensions
trial pricing
trademark
42. Costs of production that do not change with the number of units produced
frequent discounting
perceived risk
senior citizens
fixed costs
43. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income
internal reference price
social class
cause-related marketing
venture teams
44. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
sex roles
trial pricing
maintenance - repair - and operating products
customer relationship management (crm)
45. Costs involved in moving from one brand to another
early majority
switching costs
information search
fast-moving consumer goods
46. Extent to which a firm fulfills a customers needs - desires - and expectations
motivation
strategic business unit sbu
customer satisfaction
product line
47. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas
market information function
tipping point
regression analysis
combiners
48. A mental rule of thumb that leads to a speedy decision by simplifying the process
decline stage
heuristics
pure subsistence economy
birthrate
49. All the benefits the product will provide for consumers or business customers
captive pricing
core product
time-series analysis
frequent discounting
50. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
baby boomers
penetration strategy
impulse product
consumer-to-consumer e-commerce