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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 overall feelings or attitude a person has about a product after purchasing it
macro marketing
consumer satisfaction/dissatisfiaction
disposable income
penetration strategy
2. The collaboration of two or more firms in setting prices - usually to keep prices high
multiple target market approach
price maintenance
core product
prestige pricing
3. The marketing mix is distinct from and better than what is available from a competitor
differentation
metropolitan statistical area (msa)
family life cycle
price elastic
4. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
brand equity
knock-off
frequent discounting
test marketing
5. The practice of linking products to a particular social cause on an ongoing or short-term basis
cost of ownership
image enhancement objective
cause-related marketing
dynamic pricing
6. The process by which people select - organize - and interpret information form the outside world
store or private-label brands
perception
decline stage
sales forecast
7. The value of something that is given up to obtain something else
opportunity cost
involvment
variable pricing
fixed costs
8. A situation in which an increase or a decrease in price will not significantly affect demand for the product
brand
new product failure
inelastic demand
trial pricing
9. A marketing mix is tailored to fit some specific target customers
social class
target marketing
SWOT analysis
operant conditioning
10. A strategy of ducking under a competitor's price by a fixed percentage
clustering techniques
unsought products
umbrella pricing
judgment
11. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
expert forecasting survey
sales forecast
value pricing everyday low-pricing
perception
12. A pricing tactic in which the seller absorbs the total cost of transportation
combiners
sales force forecasting survey
strategic business unit sbu
freight absorption pricing
13. A pricing strategy that considers the lifetime cost of using the product
demand curve
cost of ownership
metropolitan statistical area (msa)
online auctions
14. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
core product
self-concept
time-series analysis
introduction
15. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
specialty products
seasonal analysis
sales forecast
macro marketing
16. Costs of production that do not change with the number of units produced
demand-based pricing
economics of scale
fixed costs
predatory pricing
17. 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
dynamically continuous innovation
competitive effect objective
time-series analysis
trend analysis
18. An internal state that drives us to satisfy needs by activating goal-oriented behavior
product line
brand
motivation
target marketing
19. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
national or manufacturer brands
customer satisfaction objective
disintermediation
penetration strategy
20. A pricing tactic of charging reduced prices for larger quantities of product
quantity discounts
cost-plus pricing
time-series analysis
mass marketing
21. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
unsought products
market manager
fixed costs
macro marketing
22. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
behavioral learning theories
continous innovation
f.o.b. delivered pricing
trade or functional discounts
23. Products that consumers purchase to signal membership in a desirable social class
late majority
status symbols
price-floor pricing
specialty products
24. An integrated economic and social unit wit a large population nucleus
portfolio management
umbrella pricing
metropolitan statistical area (msa)
switching costs
25. A product that consumers perceive to be new and different form existing products
brand manager
competitive effect objective
innovation
senior citizens
26. An agreement between two brands to work together in marketing new or existing products
target marketing
product line
co-branding
social class
27. Tohose whose adoption to a new product signals a general acceptance of the innovation
early majority
experimental pricing
new product failure
brand loyalty
28. The division of a market according to benefits that consumers want from the product
target market
price lining
benefit segmentation
laggards
29. Costs involved in moving from one brand to another
switching costs
brand equity
online auctions
price
30. A new product sold with the same brand name as a strong existing brand
value pricing everyday low-pricing
demand curve
early adopters
brand extension
31. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
introduction
sales force forecasting survey
attitude
seasonal analysis
32. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
Delphi technique
judgment
senior citizens
mass selling
33. Number of babies born per 1000 people fluctuated greatly in last 65 years
prestige pricing
birthrate
customer satisfaction
evaluative criteria
34. Goods that a business customer consumes in a relatively short time
cycle analysis
diffusion
involvment
maintenance - repair - and operating products
35. A new product that does not reach expectations for success - failing to reach sales objectives set
learning
new product failure
penetration strategy
segmenting
36. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
shopping product
equipment
market segment
price elasticity
37. The process by which the use of a product spreads throughout the population
product line
diffusion
evaluative criteria
early majority
38. To try to find similar patterns within sets of data
conformity
culture
clustering techniques
personality
39. A homogeneous group of customers who will respond to a marketing mix in a similiar way
maturity stage
internal reference price
market segment
conformity
40. Combining two or more submarkets into one larger target market as a basis for one strategy
staples
price elasticity
augmented product
combined market approach
41. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
Delphi technique
self-concept
cost-plus pricing
customer forecasting survey
42. The first segment (2.5%) of a population to adopt a new product
innovators
early adopters
combiners
capacity management
43. Tangible products we can see - touch - smell - hear - taste
innovators
birthrate
goods
yield-management pricing
44. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
breakthrough opportunities
stimulus generalization
decline stage
market test
45. People whose children are grown and who are now able to spend their money in other ways
unsought products
customer forecasting survey
inelastic demand
empty nesters
46. A social process that directs an economy
macro marketing
bid riggin
lifestyle
disposable income
47. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
real income
consumer-to-consumer e-commerce
dynamic pricing
staples
48. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
family brand
portfolio management
sales force forecasting survey
economics of scale
49. 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
multicultural marketing
augmented product
empty nesters
market information function
50. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer
customer satisfaction
f.o.b. origin pricing
brand loyalty
involvment