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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 third and longest stage in the product life cycle - in which sales peak and profit margin narrows
competitive effect objective
variable pricing
maturity stage
laggards
2. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
test marketing
price maintenance
time-series analysis
durable goods
3. A social process that directs an economy
trial pricing
macro marketing
market manager
executive judgement
4. Products that exhibit consistently high velocity sales in the consumer marketplace
fast-moving consumer goods
random factor analysis
brand loyalty
online auctions
5. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
trend analysis
segments
nondurable goods
single target market approach
6. Pricing that is intended to maximize customer satisfaction and retention
dynamically continuous innovation
discontinuous innovation
social class
customer satisfaction objective
7. A new product that copies with slight modification the design of an original product
trade or functional discounts
opinion leader
knock-off
hierarchy of needs
8. A relatively permanent change in behavior caused by acquired information or experience
price bundling
learning
SWOT analysis
mass marketing
9. Products that consumers purchase to signal membership in a desirable social class
expert forecasting survey
value pricing everyday low-pricing
status symbols
target market
10. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
inelastic demand
information search
discetionary income
perception
11. What is left of disposable income after paying for necessities
staples
price inelastic
discetionary income
brand extension
12. The percentage change in unit sales that results from a percentage change in price
product line
price elasticity
expert forecasting survey
mass marketing
13. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
multicultural marketing
f.o.b. delivered pricing
product line
determining dimensions
14. 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
attitude
raw materials
loss-leader pricing
opinion leader
15. A flexible pricing strategy that reflects what individual customers are willing to pay
consumer satisfaction/dissatisfiaction
culture
qualifying dimensions
variable pricing
16. Refers to the generation born immediately following the baby boom - from 1965-1977
quantity discounts
gen x
motivation
attitude
17. The strategy of selling products at unreasonably low prices to drive competitors out of business
benefit segmentation
predatory pricing
bid riggin
customer relationship management (crm)
18. 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
tipping point
seasonal analysis
empty nesters
combined market approach
19. Group of people within an organization who focus exclusively on the development of a new product
heuristics
venture teams
consumer satisfaction/dissatisfiaction
expert forecasting survey
20. A firm's total product offering designed to satisfy a single need or desire of target customers
core product
venture teams
clustering techniques
product line
21. The difference between the cost of the product and the selling price of the product
margin
attitude
market test
family life cycle
22. The process by which organization adjust their offering in an attempt to match demand
target marketing
capacity management
customer satisfaction
consumer behavior
23. A modification of an existing product that sets one brand apart from its competitors
continous innovation
target costing
disintermediation
dynamic pricing
24. 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
perception
qualifying dimensions
trade or functional discounts
brand loyalty
25. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
product adoption
discetionary income
cycle analysis
random factor analysis
26. When a percentage change in price results in a smaller percentage change in the quantity demanded
growth stage
price inelastic
trend analysis
price elasticity
27. Number of babies born per 1000 people fluctuated greatly in last 65 years
classical conditioning
portfolio management
birthrate
reciprocity
28. Pricing that is intended to have an effect on the marketing efforts of the competition
goods
freight absorption pricing
customer satisfaction objective
competitive effect objective
29. The practice of linking products to a particular social cause on an ongoing or short-term basis
f.o.b. origin pricing
cause-related marketing
brand loyalty
operating costs
30. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
target market
raw materials
service encounter
tipping point
31. The price the end customer is expected to pay as determined by the manufacturer
consumer-to-consumer e-commerce
knock-off
profit objective
list price
32. A pricing strategy in which a firm sets prices that provide ultimate value to customers
consumer-to-consumer e-commerce
value pricing everyday low-pricing
gen y
macro marketing
33. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
benefit segmentation
augmented product
macro marketing
cannibalization
34. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
prestige pricing
growth stage
product life cycle
price leadership (follower)
35. A mental rule of thumb that leads to a speedy decision by simplifying the process
heuristics
innovators
unsought products
product line
36. A situation in which an increase or a decrease in price will not significantly affect demand for the product
variable costs
gen x
inelastic demand
brand equity
37. People born between 1946 and 1964
judgment
baby boomers
operant conditioning
trademark
38. Brands that are owned and sold by a specific - retailer or distributor
mass marketing
store or private-label brands
cycle analysis
late majority
39. An internal state that drives us to satisfy needs by activating goal-oriented behavior
birthrate
innovation
consumer behavior
motivation
40. Learning that occurs as the result of rewards of punishments
product adoption
operant conditioning
opportunity cost
consideration set
41. The last consumers to adopt the innovation
multicultural marketing
laggards
yield-management pricing
mass selling
42. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
cost-plus pricing
clickstream analysis
marketing ethics
consumer behavior
43. An arrangement unique to business marketing in which two organizations agree to buy from each other
reciprocity
metropolitan statistical area (msa)
venture teams
equipment
44. 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
test marketing
actual product
cause-related marketing
f.o.b. delivered pricing
45. 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
skimming price
determining dimensions
social class
demand curve
46. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same
economics of scale
customer satisfaction objective
demand curve
brand loyalty
47. When a percentage change in price results in a larger percentage change in the quantity demanded
price elastic
involvment
cost-plus pricing
augmented product
48. Extent to which a firm fulfills a customers needs - desires - and expectations
trade or functional discounts
zone pricing
product market
customer satisfaction
49. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
core product
introduction
differentation
laggards
50. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
sex roles
actual product
sales force forecasting survey
market manager