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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. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
cycle analysis
market segmentation
trade or functional discounts
time-series analysis
2. A firm's total product offering designed to satisfy a single need or desire of target customers
f.o.b. origin pricing
motivation
product line
consumer-to-consumer e-commerce
3. All the benefits the product will provide for consumers or business customers
hierarchy of needs
behavioral learning theories
discontinuous innovation
core product
4. Income that is adjusted to take out the effects of inflation on purchasing power
sex roles
segments
real income
online auctions
5. What is left after taxes
disposable income
motivation
mass marketing
experimental pricing
6. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item
market segmentation
goods
heuristics
captive pricing
7. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
target marketing
venture teams
mass marketing
sales or market share objective
8. The marketing mix is distinct from and better than what is available from a competitor
executive judgement
price-floor pricing
differentation
consumer satisfaction/dissatisfiaction
9. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
shopping product
judgment
competitive effect objective
sustainability
10. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
lifestyle
switching costs
yield-management pricing
subculture
11. Products we purchase when we're in dire need
heuristics
emergency product
market
price-floor pricing
12. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production
emergency product
sustainability
price-floor pricing
continous innovation
13. 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
umbrella pricing
brand loyalty
segments
birthrate
14. Pricing a new product low for a limited period of time to lower the risk for a customer
co-branding
trial pricing
variable pricing
uniform delivered pricing
15. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
demand curve
subculture
product category manager
target market
16. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses
equipment
gen y
time-series analysis
gen x
17. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
inelastic demand
perceived risk
bid riggin
clickstream analysis
18. Basic or necessary items that are available almost everywhere
diffusion
staples
target market
cognitive learning theory
19. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item
dynamic pricing
service encounter
bait and switch
price maintenance
20. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri
consumer satisfaction/dissatisfiaction
late majority
sex roles
target costing
21. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
freight absorption pricing
brand equity
sales forecast
maintenance - repair - and operating products
22. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
augmented product
multicultural marketing
core product
macro marketing
23. Communicating with large numbers of customers at the same time
switching costs
executive judgement
mass selling
cannibalization
24. Discounts based on the total quantity bought within a specified time period
cumulative quantity discounts
differentation
competitive advantage
inelastic demand
25. Extent to which a firm fulfills a customers needs - desires - and expectations
trend analysis
customer satisfaction
brand loyalty
segments
26. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
perceived risk
portfolio management
Delphi technique
test marketing
27. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
price discrimination
growth stage
brand
strategic business unit sbu
28. The value that customers give up - or exchange - to obtain a desired product
universal functions of marketing
convenience product
price
goods
29. Charging a very high - premium price for a new product
time-series analysis
brand
skimming price
information search
30. A change in beliefs or actions as a reaction to real or imagined group pressure
target market
hierarchy of needs
umbrella pricing
conformity
31. A strategy where prices are set significantly higher than competing brands
sex roles
prestige pricing
value pricing everyday low-pricing
discontinuous innovation
32. Those who adopt an innovation early in the diffusion process but later than the innovators
evaluative criteria
early adopters
disintermediation
variable costs
33. 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
tipping point
price subsidies
price discrimination
multicultural marketing
34. When each family unit produces everything it consumes
regression analysis
profit objective
target marketing
pure subsistence economy
35. Costs involved in using a product
operating costs
executive judgement
continous innovation
convenience product
36. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
f.o.b. origin pricing
decline stage
time-series analysis
price discrimination
37. A manager who is responsible for developing and implementing the marketing plan for a single brand
cause-related marketing
brand manager
trade or functional discounts
price maintenance
38. The overall feelings or attitude a person has about a product after purchasing it
store or private-label brands
baby boomers
clustering techniques
consumer satisfaction/dissatisfiaction
39. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
discontinuous innovation
shopping product
cost-plus pricing
goods
40. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
hierarchy of needs
laggards
test marketing
demand-based pricing
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
market
national or manufacturer brands
price bundling
umbrella pricing
42. The physical good or the delivered service that supplies the desired benefit
operating costs
new product failure
actual product
birthrate
43. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
market test
durable goods
consumer-to-consumer e-commerce
competitive advantage
44. What is left of disposable income after paying for necessities
trial pricing
discetionary income
unsought products
family life cycle
45. A pricing tactic in which the seller absorbs the total cost of transportation
innovation
price elasticity
freight absorption pricing
operating costs
46. Products that consumers purchase to signal membership in a desirable social class
tipping point
expert forecasting survey
status symbols
profit objective
47. Products created when firms transform raw materials from their original state
processed material
sales or market share objective
metropolitan statistical area (msa)
price-floor pricing
48. Pricing products to maximize sales or to attain a desired level of sales or market share
reference group
f.o.b. origin pricing
yield-management pricing
sales or market share objective
49. The division of a market according to benefits that consumers want from the product
benefit segmentation
clickstream analysis
customer satisfaction
goods
50. The process of eliminating interaction between customers and service providers
product life cycle
price leadership (follower)
disintermediation
processed material