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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. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
raw materials
uniform delivered pricing
sustainability
product life cycle
2. 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
Delphi technique
cause-related marketing
customer relationship management (crm)
executive judgement
3. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
marketing ethics
culture
goods
micromarketing
4. A strategy of experimenting with prices until the price that generates the highest profitability is found
licensing
market segment
experimental pricing
introduction
5. 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
consumer-to-consumer e-commerce
impulse product
f.o.b. origin pricing
sales or market share objective
6. 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
demand-based pricing
random factor analysis
opinion leader
knock-off
7. An organizational unit that focuses on some product markets and is treated as a separate profit center
penetration strategy
social class
trend analysis
strategic business unit sbu
8. The collaboration of two or more firms in setting prices - usually to keep prices high
image enhancement objective
perception
price maintenance
impulse product
9. The practice of setting a limited number of different specific prices - called price points - for items in a product line
trend analysis
market information function
price lining
processed material
10. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
market segmentation
random factor analysis
expert forecasting survey
consideration set
11. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
demand curve
growth stage
variable costs
price discrimination
12. 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
product adoption
bid riggin
decline stage
13. Group of people within an organization who focus exclusively on the development of a new product
competitive advantage
regression analysis
venture teams
real income
14. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
brand manager
sustainability
f.o.b. origin pricing
regression analysis
15. Brands that are owned and sold by a specific - retailer or distributor
market
store or private-label brands
f.o.b. delivered pricing
penetration strategy
16. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus
specialty products
classical conditioning
discetionary income
knock-off
17. To try to increase the size of their target markets by combining two or more segments
cost-plus pricing
combiners
subculture
customer forecasting survey
18. A product people often buy on the spur of the moment
empty nesters
information search
price-floor pricing
impulse product
19. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
segments
variable costs
bait and switch
family life cycle
20. Charging a very high - premium price for a new product
breakthrough opportunities
customer relationship management (crm)
skimming price
profit objective
21. People whose children are grown and who are now able to spend their money in other ways
disintermediation
loss-leader pricing
empty nesters
price leadership (follower)
22. The regret or remorse buyers may feel after making a purchase
price discrimination
cognitive dissonance
disintermediation
skimming price
23. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
market manager
product category manager
uniform delivered pricing
target marketing
24. The dimensions that consumers use to compare completing product alternatives
maintenance - repair - and operating products
evaluative criteria
gen x
nondurable goods
25. 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
product line
frequent discounting
reference group
26. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
product life cycle
price discrimination
test marketing
sales forecast
27. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
strategic business unit sbu
self-concept
product life cycle
micromarketing
28. The division of a market according to benefits that consumers want from the product
cost of ownership
brand
combiners
benefit segmentation
29. The physical good or the delivered service that supplies the desired benefit
dynamic pricing
sales or market share objective
actual product
price-floor pricing
30. The psychological characteristics that consistently influence the way a person responds to situations in the environment
emergency product
sales force forecasting survey
personality
consumer behavior
31. What is left of disposable income after paying for necessities
target marketing
discetionary income
venture teams
trend analysis
32. Segmenting the market and picking one of the homogeneous segments as the firms target market
demand-based pricing
single target market approach
empty nesters
brand extension
33. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
list price
SWOT analysis
information search
price maintenance
34. Pricing that is intended to maximize customer satisfaction and retention
customer satisfaction objective
impulse product
actual product
qualifying dimensions
35. Moral standards that guide marketing decisions and actions
list price
conformity
bait and switch
marketing ethics
36. A totally new product that creates major changes in the way we live
discontinuous innovation
innovation
macro marketing
SWOT analysis
37. A change in beliefs or actions as a reaction to real or imagined group pressure
emergency product
consumer satisfaction/dissatisfiaction
demand-based pricing
conformity
38. Pricing that is intended to have an effect on the marketing efforts of the competition
product life cycle
bartering
competitive effect objective
late majority
39. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
attitude
variable costs
specialty products
reference group
40. A means of characterizing consumers based on the different family stages they pass through as they grow older
predatory pricing
family life cycle
universal functions of marketing
brand
41. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
online auctions
cognitive dissonance
generic marketing
combiners
42. A means of measuring a website's success by tracking customers' movement around the company website
economics of scale
clickstream analysis
price leadership (follower)
price elastic
43. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
market test
customer satisfaction objective
cost of ownership
target market
44. The value that customers give up - or exchange - to obtain a desired product
price
price inelastic
Delphi technique
f.o.b. origin pricing
45. Costs involved in moving from one brand to another
culture
switching costs
information search
prestige pricing
46. Costs involved in using a product
discetionary income
operating costs
store or private-label brands
trade or functional discounts
47. The percentage change in unit sales that results from a percentage change in price
dynamically continuous innovation
brand manager
price subsidies
price elasticity
48. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief
customer satisfaction objective
yield-management pricing
marketing ethics
price subsidies
49. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
cost of ownership
penetration strategy
internal reference price
sales force forecasting survey
50. 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
gen x
executive judgement
senior citizens
cognitive learning theory