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Test your basic knowledge |
Marketing Basics
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
customer forecasting survey
combiners
nondurable goods
customer satisfaction objective
2. A firm's total product offering designed to satisfy a single need or desire of target customers
reciprocity
product line
uniform delivered pricing
price elastic
3. 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
marketing ethics
quantity discounts
trademark
economics of scale
4. The practice of exchanging a good or service for another good or service of like value
motivation
baby boomers
target market
bartering
5. A mental rule of thumb that leads to a speedy decision by simplifying the process
consumer behavior
price discrimination
executive judgement
heuristics
6. The practice of setting a limited number of different specific prices - called price points - for items in a product line
value pricing everyday low-pricing
time-series analysis
price lining
maturity stage
7. A marketing mix is tailored to fit some specific target customers
f.o.b. delivered pricing
market segmentation
target marketing
variable pricing
8. Income that is adjusted to take out the effects of inflation on purchasing power
real income
tipping point
brand loyalty
mass marketing
9. The value of something that is given up to obtain something else
random factor analysis
cost-plus pricing
opportunity cost
market segment
10. Products that exhibit consistently high velocity sales in the consumer marketplace
stimulus generalization
product category manager
fast-moving consumer goods
actual product
11. An internal state that drives us to satisfy needs by activating goal-oriented behavior
clickstream analysis
motivation
price
combiners
12. Costs involved in using a product
bait and switch
demand-based pricing
operating costs
combiners
13. The pricing strategy of setting prices below cost to attract customers into a store
online auctions
combiners
loss-leader pricing
bartering
14. 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
consumer behavior
market information function
yield-management pricing
differentation
15. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
target marketing
market manager
gen y
early majority
16. A strategy of frequently using sale prices to increase sales volume
f.o.b. delivered pricing
operant conditioning
heuristics
frequent discounting
17. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
cumulative quantity discounts
f.o.b. delivered pricing
customer relationship management (crm)
yield-management pricing
18. Goods that a business customer consumes in a relatively short time
maintenance - repair - and operating products
price
time-series analysis
baby boomers
19. Pricing products to maximize sales or to attain a desired level of sales or market share
status symbols
sales or market share objective
profit objective
competitive effect objective
20. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
price leadership (follower)
brand extension
differentation
random factor analysis
21. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
dynamically continuous innovation
growth stage
generic marketing
expert forecasting survey
22. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase
price subsidies
late majority
price elasticity
random factor analysis
23. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
specialty products
price subsidies
quantity discounts
service encounter
24. 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
consideration set
cost-plus pricing
evaluative criteria
early majority
25. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
perception
product category manager
uniform delivered pricing
brand equity
26. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
disposable income
market test
market
personality
27. The percentage change in unit sales that results from a percentage change in price
zone pricing
product category manager
price elasticity
price maintenance
28. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
penetration strategy
equipment
cost of ownership
sales force forecasting survey
29. 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
impulse product
market manager
learning
demand curve
30. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
customer satisfaction objective
product market
information search
f.o.b. origin pricing
31. Pricing that is intended to have an effect on the marketing efforts of the competition
licensing
raw materials
competitive effect objective
experimental pricing
32. The price the end customer is expected to pay as determined by the manufacturer
opportunity cost
macro marketing
list price
trademark
33. The process by which organization adjust their offering in an attempt to match demand
loss-leader pricing
capacity management
laggards
venture teams
34. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
fast-moving consumer goods
consumer-to-consumer e-commerce
cause-related marketing
micromarketing
35. 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
brand loyalty
empty nesters
penetration strategy
social class
36. 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
real income
portfolio management
demand-based pricing
37. A fairly homogeneous group of customers to whom a company wishes to appeal
brand equity
cumulative quantity discounts
diffusion
target market
38. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
cost of ownership
sustainability
generic marketing
goods
39. A strategy of ducking under a competitor's price by a fixed percentage
demand curve
umbrella pricing
price bundling
segments
40. Products we purchase when we're in dire need
emergency product
operant conditioning
venture teams
price maintenance
41. 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
disposable income
gen x
reciprocity
market
42. When each family unit produces everything it consumes
product market
pure subsistence economy
trend analysis
zone pricing
43. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
growth stage
trademark
market
pure subsistence economy
44. A brand that a group of individual products or individual brands share
national or manufacturer brands
macro marketing
family brand
bait and switch
45. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
cognitive learning theory
judgment
reciprocity
price inelastic
46. A totally new product that creates major changes in the way we live
diffusion
portfolio management
micromarketing
discontinuous innovation
47. A new product that copies with slight modification the design of an original product
determining dimensions
attitude
knock-off
subculture
48. Costs involved in moving from one brand to another
switching costs
gen y
lifestyle
price maintenance
49. An agreement between two brands to work together in marketing new or existing products
continous innovation
co-branding
sustainability
consumer satisfaction/dissatisfiaction
50. To try to find similar patterns within sets of data
core product
clustering techniques
price-floor pricing
trademark
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