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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 pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer
f.o.b. delivered pricing
micromarketing
real income
expert forecasting survey
2. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline
time-series analysis
consumer satisfaction/dissatisfiaction
core product
tipping point
3. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
market information function
cycle analysis
sales forecast
target costing
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
maintenance - repair - and operating products
stimulus generalization
zone pricing
brand
5. 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
brand equity
discetionary income
staples
social class
6. The physical good or the delivered service that supplies the desired benefit
clickstream analysis
product life cycle
information search
actual product
7. To try to increase the size of their target markets by combining two or more segments
maintenance - repair - and operating products
heuristics
cause-related marketing
combiners
8. The belief that use of a product has potentially negative consequences - either financial - physical or social
perceived risk
perception
product market
self-concept
9. Number of babies born per 1000 people fluctuated greatly in last 65 years
birthrate
status symbols
goods
umbrella pricing
10. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
consideration set
fixed costs
price maintenance
product life cycle
11. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
cognitive learning theory
sales or market share objective
sustainability
early adopters
12. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
segments
core product
discetionary income
economics of scale
13. The value of a brand to an organization
brand equity
zone pricing
variable costs
market segment
14. A marketing mix is tailored to fit some specific target customers
generic marketing
customer satisfaction objective
time-series analysis
target marketing
15. The practice of exchanging a good or service for another good or service of like value
bartering
cognitive learning theory
status symbols
customer satisfaction
16. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
customer forecasting survey
qualifying dimensions
seasonal analysis
judgment
17. An internal state that drives us to satisfy needs by activating goal-oriented behavior
raw materials
social class
motivation
customer satisfaction
18. Pricing products to maximize sales or to attain a desired level of sales or market share
sales or market share objective
continous innovation
birthrate
brand
19. A modification of an existing product that sets one brand apart from its competitors
discontinuous innovation
zone pricing
continous innovation
family brand
20. A price-setting method based on estimated of demand at different prices
self-concept
demand-based pricing
introduction
demand curve
21. What is left of disposable income after paying for necessities
discetionary income
economics of scale
expert forecasting survey
brand
22. A means of measuring a website's success by tracking customers' movement around the company website
cost-plus pricing
service encounter
mass marketing
clickstream analysis
23. When a percentage change in price results in a larger percentage change in the quantity demanded
regression analysis
variable costs
price elastic
product life cycle
24. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
behavioral learning theories
opportunity cost
random factor analysis
involvment
25. 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
target marketing
emergency product
customer satisfaction objective
market
26. 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
consumer satisfaction/dissatisfiaction
core product
market segmentation
macro marketing
27. The value of something that is given up to obtain something else
self-concept
opportunity cost
brand extension
penetration strategy
28. An integrated economic and social unit wit a large population nucleus
margin
raw materials
product category manager
metropolitan statistical area (msa)
29. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer
market
information search
f.o.b. origin pricing
goods
30. Brands that the manufacturer of the product owns
maintenance - repair - and operating products
price maintenance
laggards
national or manufacturer brands
31. Goods that a business customer consumes in a relatively short time
senior citizens
hierarchy of needs
micromarketing
maintenance - repair - and operating products
32. Communicating with large numbers of customers at the same time
inelastic demand
random factor analysis
nondurable goods
mass selling
33. All the benefits the product will provide for consumers or business customers
bait and switch
brand loyalty
multiple target market approach
core product
34. A pricing strategy in which a firm sets prices that provide ultimate value to customers
birthrate
value pricing everyday low-pricing
expert forecasting survey
zone pricing
35. The price the end customer is expected to pay as determined by the manufacturer
list price
component parts
value pricing everyday low-pricing
disintermediation
36. The strategy of selling products at unreasonably low prices to drive competitors out of business
Delphi technique
predatory pricing
culture
processed material
37. An organizational unit that focuses on some product markets and is treated as a separate profit center
baby boomers
product life cycle
margin
strategic business unit sbu
38. Discounts based on the total quantity bought within a specified time period
cumulative quantity discounts
judgment
personality
opportunity cost
39. The relative importance of perceived consequences of the purchase to a consumer
market segment
price-floor pricing
involvment
competitive advantage
40. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
sustainability
switching costs
self-concept
co-branding
41. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
market segmentation
yield-management pricing
culture
multicultural marketing
42. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
price discrimination
early majority
store or private-label brands
market manager
43. The process by which people select - organize - and interpret information form the outside world
growth stage
cognitive dissonance
perception
segments
44. Products created when firms transform raw materials from their original state
consideration set
processed material
consumer satisfaction/dissatisfiaction
f.o.b. origin pricing
45. A new product that does not reach expectations for success - failing to reach sales objectives set
consumer behavior
new product failure
test marketing
consumer-to-consumer e-commerce
46. Segmenting the market and picking one of the homogeneous segments as the firms target market
single target market approach
processed material
early adopters
target costing
47. People born between 1946 and 1964
behavioral learning theories
market information function
baby boomers
early majority
48. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
market test
multicultural marketing
clustering techniques
licensing
49. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
durable goods
introduction
trademark
regression analysis
50. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
segmenting
target marketing
trend analysis
cognitive dissonance