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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. Discounts based only on the quantity purchased in individual orders
SWOT analysis
non-cumulative quantity discounts
raw materials
demand-based pricing
2. Pricing that is intended to have an effect on the marketing efforts of the competition
micromarketing
fixed costs
breakthrough opportunities
competitive effect objective
3. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
multicultural marketing
national or manufacturer brands
price
knock-off
4. Tangible products we can see - touch - smell - hear - taste
specialty products
brand
tipping point
goods
5. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income
market manager
operating costs
brand loyalty
social class
6. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
sales force forecasting survey
price maintenance
demand curve
experimental pricing
7. 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
price-floor pricing
shopping product
uniform delivered pricing
gen y
8. Costs involved in moving from one brand to another
lifestyle
market segment
switching costs
target costing
9. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
new product failure
behavioral learning theories
convenience product
penetration strategy
10. The set of alternative brands the consumer is considering for the decision process
operant conditioning
core product
competitive effect objective
consideration set
11. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
diffusion
universal functions of marketing
strategic business unit sbu
predatory pricing
12. Income that is adjusted to take out the effects of inflation on purchasing power
information search
price maintenance
conformity
real income
13. The regret or remorse buyers may feel after making a purchase
perception
trend analysis
cognitive dissonance
discontinuous innovation
14. The percentage change in unit sales that results from a percentage change in price
price elasticity
penetration strategy
fixed costs
sales forecast
15. Products that consumers purchase to signal membership in a desirable social class
quantity discounts
late majority
status symbols
operating costs
16. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
capacity management
shopping product
impulse product
trade or functional discounts
17. The final stage in the product life cycle - in which sales decrease as customer needs change
senior citizens
decline stage
lifestyle
SWOT analysis
18. Sales forecasting based on the intuition of one or more executives
executive judgement
frequent discounting
maintenance - repair - and operating products
market segment
19. A flexible pricing strategy that reflects what individual customers are willing to pay
classical conditioning
variable pricing
consumer satisfaction/dissatisfiaction
product adoption
20. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
executive judgement
introduction
real income
trend analysis
21. A situation in which an increase or a decrease in price will not significantly affect demand for the product
inelastic demand
impulse product
introduction
combiners
22. A new product that does not reach expectations for success - failing to reach sales objectives set
breakthrough opportunities
operating costs
expert forecasting survey
new product failure
23. Refers to the generation born immediately following the baby boom - from 1965-1977
gen x
universal functions of marketing
penetration strategy
cannibalization
24. A manager who is responsible for developing and implementing the marketing plan for a single brand
brand manager
co-branding
product adoption
clustering techniques
25. A firm's total product offering designed to satisfy a single need or desire of target customers
product line
demand curve
customer forecasting survey
new product failure
26. The process by which the use of a product spreads throughout the population
price-floor pricing
consideration set
brand loyalty
diffusion
27. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
growth stage
product line
self-concept
cognitive dissonance
28. The actual interaction between the customer and the service provider
learning
service encounter
consumer-to-consumer e-commerce
captive pricing
29. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
innovation
generic marketing
venture teams
trial pricing
30. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
early adopters
price discrimination
seasonal analysis
heuristics
31. The process by which organization adjust their offering in an attempt to match demand
opportunity cost
multicultural marketing
capacity management
SWOT analysis
32. The first segment (2.5%) of a population to adopt a new product
evaluative criteria
captive pricing
innovators
switching costs
33. A price-setting method based on estimated of demand at different prices
classical conditioning
demand curve
perceived risk
demand-based pricing
34. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
micromarketing
staples
capacity management
judgment
35. 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
combined market approach
market segmentation
quantity discounts
real income
36. A strategy of frequently using sale prices to increase sales volume
frequent discounting
economics of scale
metropolitan statistical area (msa)
personality
37. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
self-concept
empty nesters
laggards
38. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
prestige pricing
experimental pricing
perceived risk
nondurable goods
39. Tohose whose adoption to a new product signals a general acceptance of the innovation
cumulative quantity discounts
early majority
late majority
cognitive dissonance
40. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
mass marketing
hierarchy of needs
family life cycle
classical conditioning
41. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
test marketing
gen y
raw materials
judgment
42. The process of eliminating interaction between customers and service providers
disintermediation
trial pricing
competitive effect objective
social class
43. Communicating with large numbers of customers at the same time
mass selling
perceived risk
cost of ownership
target market
44. Pricing intended to establish a desired image or positioning to prospective customers
mass marketing
universal functions of marketing
determining dimensions
image enhancement objective
45. The relative importance of perceived consequences of the purchase to a consumer
bait and switch
bid riggin
involvment
sales forecast
46. 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
benefit segmentation
classical conditioning
market
continous innovation
47. Learning that occurs as the result of rewards of punishments
specialty products
empty nesters
operant conditioning
brand
48. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
personality
portfolio management
variable pricing
market information function
49. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
co-branding
cognitive dissonance
sales force forecasting survey
trade or functional discounts
50. The practice of exchanging a good or service for another good or service of like value
generic marketing
skimming price
cost of ownership
bartering