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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 pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
baby boomers
market manager
introduction
2. To try to increase the size of their target markets by combining two or more segments
experimental pricing
cognitive dissonance
combiners
generic marketing
3. 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
price elastic
disposable income
attitude
market segmentation
4. The value of something that is given up to obtain something else
early adopters
opportunity cost
non-cumulative quantity discounts
SWOT analysis
5. What is left of disposable income after paying for necessities
discetionary income
co-branding
motivation
switching costs
6. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
multicultural marketing
executive judgement
prestige pricing
market manager
7. Tangible products we can see - touch - smell - hear - taste
target market
goods
behavioral learning theories
judgment
8. Learning that occurs as the result of rewards of punishments
uniform delivered pricing
operant conditioning
disintermediation
co-branding
9. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
sales force forecasting survey
demand curve
specialty products
price lining
10. An integrated economic and social unit wit a large population nucleus
metropolitan statistical area (msa)
durable goods
innovators
sales or market share objective
11. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
loss-leader pricing
evaluative criteria
involvment
judgment
12. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
portfolio management
price inelastic
multicultural marketing
yield-management pricing
13. Pricing a new product low for a limited period of time to lower the risk for a customer
trial pricing
clustering techniques
family brand
regression analysis
14. A homogeneous group of customers who will respond to a marketing mix in a similiar way
pure subsistence economy
classical conditioning
trademark
market segment
15. A totally new product that creates major changes in the way we live
discontinuous innovation
demand-based pricing
tipping point
operant conditioning
16. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
customer forecasting survey
profit objective
economics of scale
market test
17. An organizational unit that focuses on some product markets and is treated as a separate profit center
strategic business unit sbu
discontinuous innovation
early majority
Delphi technique
18. Combining two or more submarkets into one larger target market as a basis for one strategy
yield-management pricing
combined market approach
co-branding
sex roles
19. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
margin
processed material
reciprocity
mass marketing
20. A social process that directs an economy
macro marketing
service encounter
price
online auctions
21. Sometimes called millenials - refer to those born from 1978-1994
gen y
strategic business unit sbu
unsought products
product life cycle
22. A change in an existing product that requires a moderate amount of learning or behavior change
product line
national or manufacturer brands
dynamically continuous innovation
culture
23. A modification of an existing product that sets one brand apart from its competitors
price lining
captive pricing
continous innovation
consumer behavior
24. Discounts based only on the quantity purchased in individual orders
opinion leader
maintenance - repair - and operating products
non-cumulative quantity discounts
price lining
25. Communicating with large numbers of customers at the same time
clickstream analysis
brand equity
experimental pricing
mass selling
26. A mental rule of thumb that leads to a speedy decision by simplifying the process
price subsidies
reference group
heuristics
variable pricing
27. Products that exhibit consistently high velocity sales in the consumer marketplace
price maintenance
multiple target market approach
co-branding
fast-moving consumer goods
28. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
dynamically continuous innovation
trend analysis
gen y
fixed costs
29. Expensive goods that an organization uses in its daily operations that last for a long time
equipment
sex roles
perception
heuristics
30. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
service encounter
product adoption
behavioral learning theories
reference group
31. A brand that a group of individual products or individual brands share
f.o.b. delivered pricing
maintenance - repair - and operating products
lifestyle
family brand
32. The dimensions that consumers use to compare completing product alternatives
evaluative criteria
consumer behavior
profit objective
uniform delivered pricing
33. 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
baby boomers
disintermediation
price elastic
34. A strategy of experimenting with prices until the price that generates the highest profitability is found
component parts
time-series analysis
experimental pricing
cognitive learning theory
35. The psychological characteristics that consistently influence the way a person responds to situations in the environment
personality
clustering techniques
brand loyalty
market
36. A pricing tactic in which customers in different geographic zones pay different transportation rates
cycle analysis
competitive advantage
zone pricing
skimming price
37. Costs involved in moving from one brand to another
venture teams
switching costs
variable pricing
cognitive learning theory
38. People born between 1946 and 1964
price leadership (follower)
continous innovation
competitive advantage
baby boomers
39. A new product that does not reach expectations for success - failing to reach sales objectives set
new product failure
dynamically continuous innovation
price inelastic
determining dimensions
40. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
market manager
discontinuous innovation
subculture
consumer behavior
41. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
SWOT analysis
price maintenance
discetionary income
shopping product
42. A marketing mix is tailored to fit some specific target customers
target marketing
fixed costs
mass selling
classical conditioning
43. A pricing tactic of charging reduced prices for larger quantities of product
price maintenance
test marketing
time-series analysis
quantity discounts
44. An internal state that drives us to satisfy needs by activating goal-oriented behavior
motivation
time-series analysis
sales forecast
learning
45. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
core product
trade or functional discounts
late majority
trend analysis
46. People whose children are grown and who are now able to spend their money in other ways
empty nesters
market information function
stimulus generalization
actual product
47. A means of characterizing consumers based on the different family stages they pass through as they grow older
price bundling
family life cycle
trial pricing
sustainability
48. 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
nondurable goods
reference group
store or private-label brands
49. A price-setting method based on estimated of demand at different prices
involvment
brand manager
demand-based pricing
predatory pricing
50. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
operating costs
bid riggin
information search
quantity discounts