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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. People born between 1946 and 1964
fixed costs
product market
expert forecasting survey
baby boomers
2. Brands that are owned and sold by a specific - retailer or distributor
store or private-label brands
new product failure
motivation
operant conditioning
3. The last consumers to adopt the innovation
involvment
laggards
dynamic pricing
opportunity cost
4. Aim at one or more homogeneous segments and try to develop different marketing mix for each
segments
SWOT analysis
shopping product
fixed costs
5. 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
customer satisfaction
trademark
core product
nondurable goods
6. A product that consumers perceive to be new and different form existing products
target market
innovation
customer satisfaction
innovators
7. The dimensions that consumers use to compare completing product alternatives
venture teams
evaluative criteria
clustering techniques
market segmentation
8. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue
sales force forecasting survey
cause-related marketing
profit objective
Delphi technique
9. The value of something that is given up to obtain something else
yield-management pricing
product adoption
opportunity cost
senior citizens
10. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
empty nesters
shopping product
cognitive dissonance
market manager
11. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
reference group
introduction
growth stage
strategic business unit sbu
12. Income that is adjusted to take out the effects of inflation on purchasing power
real income
consideration set
bait and switch
customer satisfaction
13. An organizational unit that focuses on some product markets and is treated as a separate profit center
list price
strategic business unit sbu
uniform delivered pricing
brand extension
14. 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
classical conditioning
impulse product
price
variable costs
15. The division of a market according to benefits that consumers want from the product
emergency product
benefit segmentation
attitude
customer satisfaction
16. Those who adopt an innovation early in the diffusion process but later than the innovators
equipment
diffusion
hierarchy of needs
early adopters
17. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
customer satisfaction objective
consumer behavior
trial pricing
dynamically continuous innovation
18. Expensive goods that an organization uses in its daily operations that last for a long time
stimulus generalization
disposable income
equipment
behavioral learning theories
19. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
involvment
information search
price leadership (follower)
profit objective
20. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same
sales force forecasting survey
demand curve
differentation
processed material
21. Discounts based only on the quantity purchased in individual orders
non-cumulative quantity discounts
single target market approach
combiners
convenience product
22. The physical good or the delivered service that supplies the desired benefit
market segmentation
reference group
actual product
sales forecast
23. Products created when firms transform raw materials from their original state
processed material
loss-leader pricing
sex roles
switching costs
24. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
sex roles
demand curve
brand equity
senior citizens
25. Segmenting the market and picking one of the homogeneous segments as the firms target market
gen y
real income
single target market approach
unsought products
26. A social process that directs an economy
determining dimensions
macro marketing
brand loyalty
augmented product
27. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
mass selling
random factor analysis
motivation
economics of scale
28. The set of alternative brands the consumer is considering for the decision process
market manager
captive pricing
consideration set
decline stage
29. Pricing a new product low for a limited period of time to lower the risk for a customer
trial pricing
stimulus generalization
price elastic
continous innovation
30. The difference between the cost of the product and the selling price of the product
product adoption
early majority
price subsidies
margin
31. The practice of exchanging a good or service for another good or service of like value
bartering
impulse product
profit objective
bait and switch
32. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
processed material
internal reference price
segmenting
subculture
33. When a percentage change in price results in a larger percentage change in the quantity demanded
target market
opportunity cost
price elastic
time-series analysis
34. The process of eliminating interaction between customers and service providers
SWOT analysis
disintermediation
licensing
segmenting
35. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
expert forecasting survey
product category manager
introduction
f.o.b. origin pricing
36. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
price leadership (follower)
cannibalization
innovators
target costing
37. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
price maintenance
family brand
behavioral learning theories
durable goods
38. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
emergency product
augmented product
baby boomers
yield-management pricing
39. Tohose whose adoption to a new product signals a general acceptance of the innovation
product line
early adopters
status symbols
early majority
40. The belief that use of a product has potentially negative consequences - either financial - physical or social
mass selling
birthrate
demand-based pricing
perceived risk
41. The seller fine tunes the marketing effort with info from a detailed customer database
internal reference price
customer relationship management (crm)
product adoption
combiners
42. A price-setting method based on estimated of demand at different prices
demand-based pricing
consumer satisfaction/dissatisfiaction
f.o.b. delivered pricing
SWOT analysis
43. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
trend analysis
co-branding
experimental pricing
bait and switch
44. A flexible pricing strategy that reflects what individual customers are willing to pay
experimental pricing
variable pricing
information search
trend analysis
45. A fairly homogeneous group of customers to whom a company wishes to appeal
evaluative criteria
price maintenance
random factor analysis
target market
46. The value of a brand to an organization
brand equity
cognitive dissonance
determining dimensions
reference group
47. Refers to the generation born immediately following the baby boom - from 1965-1977
sales force forecasting survey
list price
gen x
fast-moving consumer goods
48. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
price elasticity
lifestyle
market
store or private-label brands
49. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
specialty products
component parts
switching costs
market information function
50. Pricing that is intended to have an effect on the marketing efforts of the competition
competitive effect objective
breakthrough opportunities
core product
freight absorption pricing