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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. A new product that copies with slight modification the design of an original product
cost of ownership
knock-off
test marketing
cannibalization
2. Basic or necessary items that are available almost everywhere
cumulative quantity discounts
diffusion
staples
target costing
3. The difference between the cost of the product and the selling price of the product
product category manager
growth stage
margin
disposable income
4. A strategy of ducking under a competitor's price by a fixed percentage
innovation
price bundling
umbrella pricing
durable goods
5. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
staples
strategic business unit sbu
product category manager
cost of ownership
6. 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
experimental pricing
cost-plus pricing
brand loyalty
zone pricing
7. The seller fine tunes the marketing effort with info from a detailed customer database
core product
executive judgement
breakthrough opportunities
customer relationship management (crm)
8. Aim at one or more homogeneous segments and try to develop different marketing mix for each
segments
operating costs
brand equity
real income
9. A pricing tactic in which the seller absorbs the total cost of transportation
freight absorption pricing
consumer satisfaction/dissatisfiaction
growth stage
image enhancement objective
10. The physical good or the delivered service that supplies the desired benefit
heuristics
actual product
online auctions
goods
11. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
margin
opinion leader
universal functions of marketing
perception
12. Discounts based only on the quantity purchased in individual orders
bid riggin
clickstream analysis
gen x
non-cumulative quantity discounts
13. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
learning
frequent discounting
trade or functional discounts
breakthrough opportunities
14. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
uniform delivered pricing
service encounter
non-cumulative quantity discounts
margin
15. The relative importance of perceived consequences of the purchase to a consumer
economics of scale
regression analysis
involvment
experimental pricing
16. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
multicultural marketing
birthrate
competitive effect objective
benefit segmentation
17. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
image enhancement objective
penetration strategy
maturity stage
introduction
18. 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
market information function
consideration set
price maintenance
seasonal analysis
19. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
equipment
regression analysis
empty nesters
growth stage
20. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
birthrate
lifestyle
generic marketing
price discrimination
21. A pricing tactic in which customers in different geographic zones pay different transportation rates
dynamically continuous innovation
convenience product
zone pricing
portfolio management
22. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
product line
price leadership (follower)
demand curve
product life cycle
23. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
consumer satisfaction/dissatisfiaction
reference group
raw materials
price elastic
24. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
early adopters
generic marketing
market test
price maintenance
25. The strategy of selling products at unreasonably low prices to drive competitors out of business
demand-based pricing
convenience product
predatory pricing
price lining
26. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
determining dimensions
bid riggin
perception
cost of ownership
27. The final stage in the product life cycle - in which sales decrease as customer needs change
customer forecasting survey
variable pricing
empty nesters
decline stage
28. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
qualifying dimensions
SWOT analysis
reference group
f.o.b. origin pricing
29. Extent to which a firm fulfills a customers needs - desires - and expectations
customer satisfaction
umbrella pricing
time-series analysis
competitive effect objective
30. Relevant to including a customer type in a product market
metropolitan statistical area (msa)
variable pricing
qualifying dimensions
self-concept
31. Sales forecasting based on the intuition of one or more executives
executive judgement
Delphi technique
profit objective
discetionary income
32. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
predatory pricing
dynamic pricing
frequent discounting
switching costs
33. The regret or remorse buyers may feel after making a purchase
market manager
cycle analysis
captive pricing
cognitive dissonance
34. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
subculture
clustering techniques
SWOT analysis
shopping product
35. Tohose whose adoption to a new product signals a general acceptance of the innovation
brand equity
early majority
brand
birthrate
36. 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
image enhancement objective
product market
captive pricing
sales force forecasting survey
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
competitive advantage
yield-management pricing
determining dimensions
market
38. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
non-cumulative quantity discounts
product life cycle
image enhancement objective
cycle analysis
39. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time
combiners
licensing
national or manufacturer brands
birthrate
40. Pricing products to maximize sales or to attain a desired level of sales or market share
variable costs
sales or market share objective
demand-based pricing
macro marketing
41. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
operating costs
predatory pricing
durable goods
metropolitan statistical area (msa)
42. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
consumer behavior
profit objective
yield-management pricing
image enhancement objective
43. The percentage change in unit sales that results from a percentage change in price
classical conditioning
determining dimensions
price elasticity
demand-based pricing
44. Costs of production that do not change with the number of units produced
fixed costs
perception
qualifying dimensions
trademark
45. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
evaluative criteria
variable pricing
sales force forecasting survey
variable costs
46. 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
target costing
expert forecasting survey
cognitive dissonance
price-floor pricing
47. Moral standards that guide marketing decisions and actions
price elasticity
yield-management pricing
loss-leader pricing
marketing ethics
48. 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
real income
single target market approach
bait and switch
economics of scale
49. A homogeneous group of customers who will respond to a marketing mix in a similiar way
trend analysis
target marketing
disintermediation
market segment
50. The process by which the use of a product spreads throughout the population
durable goods
generic marketing
determining dimensions
diffusion