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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. The value of something that is given up to obtain something else
opportunity cost
customer satisfaction
decline stage
reciprocity
2. All the benefits the product will provide for consumers or business customers
list price
core product
augmented product
sales force forecasting survey
3. A marketing mix is tailored to fit some specific target customers
cost of ownership
Delphi technique
umbrella pricing
target marketing
4. People born between 1946 and 1964
market
store or private-label brands
status symbols
baby boomers
5. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
co-branding
profit objective
inelastic demand
6. 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
early adopters
specialty products
market segmentation
micromarketing
7. Selling two or more goods or services as a single package for one price
seasonal analysis
personality
price bundling
judgment
8. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
attitude
market test
customer forecasting survey
profit objective
9. Products that exhibit consistently high velocity sales in the consumer marketplace
variable costs
fast-moving consumer goods
cannibalization
random factor analysis
10. Learning that occurs as the result of rewards of punishments
operant conditioning
lifestyle
information search
market information function
11. An organizational unit that focuses on some product markets and is treated as a separate profit center
marketing ethics
cost of ownership
strategic business unit sbu
conformity
12. Income that is adjusted to take out the effects of inflation on purchasing power
national or manufacturer brands
real income
variable pricing
differentation
13. A pricing tactic in which the seller absorbs the total cost of transportation
freight absorption pricing
loss-leader pricing
core product
sustainability
14. Refers to the generation born immediately following the baby boom - from 1965-1977
switching costs
gen x
status symbols
uniform delivered pricing
15. E-commerce that allows shoppers to purchase products through online bidding
market information function
time-series analysis
information search
online auctions
16. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
economics of scale
innovation
brand extension
conformity
17. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
brand extension
brand equity
generic marketing
multicultural marketing
18. The process by which the use of a product spreads throughout the population
margin
penetration strategy
trade or functional discounts
diffusion
19. The marketing mix is distinct from and better than what is available from a competitor
cannibalization
market manager
product market
differentation
20. 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
cognitive dissonance
executive judgement
product adoption
21. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
skimming price
lifestyle
actual product
processed material
22. 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
store or private-label brands
price subsidies
brand manager
penetration strategy
23. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
pure subsistence economy
growth stage
subculture
switching costs
24. The strategy of selling products at unreasonably low prices to drive competitors out of business
customer forecasting survey
shopping product
regression analysis
predatory pricing
25. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
equipment
internal reference price
micromarketing
classical conditioning
26. Brands that the manufacturer of the product owns
national or manufacturer brands
differentation
status symbols
determining dimensions
27. A pricing tactic in which customers in different geographic zones pay different transportation rates
clustering techniques
component parts
sex roles
zone pricing
28. The practice of linking products to a particular social cause on an ongoing or short-term basis
cause-related marketing
heuristics
quantity discounts
cannibalization
29. An arrangement unique to business marketing in which two organizations agree to buy from each other
reciprocity
margin
clickstream analysis
sustainability
30. Charging a very high - premium price for a new product
stimulus generalization
self-concept
portfolio management
skimming price
31. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
sales force forecasting survey
innovators
pure subsistence economy
product market
32. Sometimes called millenials - refer to those born from 1978-1994
gen y
behavioral learning theories
reciprocity
durable goods
33. Tohose whose adoption to a new product signals a general acceptance of the innovation
market manager
judgment
early majority
fast-moving consumer goods
34. Discounts based on the total quantity bought within a specified time period
self-concept
decline stage
cumulative quantity discounts
disposable income
35. Discounts based only on the quantity purchased in individual orders
non-cumulative quantity discounts
portfolio management
clickstream analysis
consumer behavior
36. Combining two or more submarkets into one larger target market as a basis for one strategy
combined market approach
variable costs
bid riggin
price discrimination
37. 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
disintermediation
bid riggin
price inelastic
market
38. An internal state that drives us to satisfy needs by activating goal-oriented behavior
motivation
clustering techniques
involvment
brand manager
39. The physical good or the delivered service that supplies the desired benefit
price inelastic
combined market approach
product adoption
actual product
40. To try to find similar patterns within sets of data
clustering techniques
yield-management pricing
value pricing everyday low-pricing
mass selling
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
staples
impulse product
trademark
conformity
42. A pricing tactic of charging reduced prices for larger quantities of product
maturity stage
co-branding
zone pricing
quantity discounts
43. The dimensions that consumers use to compare completing product alternatives
price inelastic
evaluative criteria
non-cumulative quantity discounts
price lining
44. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
goods
product category manager
involvment
price lining
45. The overall feelings or attitude a person has about a product after purchasing it
predatory pricing
cannibalization
brand manager
consumer satisfaction/dissatisfiaction
46. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
brand manager
yield-management pricing
predatory pricing
metropolitan statistical area (msa)
47. A means of characterizing consumers based on the different family stages they pass through as they grow older
brand equity
family life cycle
social class
clustering techniques
48. When each family unit produces everything it consumes
core product
prestige pricing
metropolitan statistical area (msa)
pure subsistence economy
49. The process by which organization adjust their offering in an attempt to match demand
senior citizens
status symbols
capacity management
non-cumulative quantity discounts
50. Relevant to including a customer type in a product market
loss-leader pricing
qualifying dimensions
augmented product
product category manager
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