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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. Products created when firms transform raw materials from their original state
value pricing everyday low-pricing
sustainability
reference group
processed material
2. An internal state that drives us to satisfy needs by activating goal-oriented behavior
perception
introduction
random factor analysis
motivation
3. Selling two or more goods or services as a single package for one price
opportunity cost
disintermediation
metropolitan statistical area (msa)
price bundling
4. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
service encounter
raw materials
portfolio management
birthrate
5. A social process that directs an economy
target marketing
macro marketing
market manager
product life cycle
6. The loss of sales of an existing product when a new item in a product line or product family is introduced
cannibalization
information search
perceived risk
customer satisfaction objective
7. The practice of exchanging a good or service for another good or service of like value
shopping product
subculture
status symbols
bartering
8. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
generic marketing
strategic business unit sbu
goods
innovation
9. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top
margin
trend analysis
processed material
hierarchy of needs
10. The percentage change in unit sales that results from a percentage change in price
price elasticity
discetionary income
store or private-label brands
product life cycle
11. The final stage in the product life cycle - in which sales decrease as customer needs change
sustainability
f.o.b. delivered pricing
decline stage
reciprocity
12. 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
social class
price maintenance
senior citizens
cannibalization
13. The psychological characteristics that consistently influence the way a person responds to situations in the environment
classical conditioning
personality
price subsidies
stimulus generalization
14. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment
cognitive learning theory
market segmentation
mass selling
demand-based pricing
15. The actual interaction between the customer and the service provider
demand-based pricing
executive judgement
f.o.b. delivered pricing
service encounter
16. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer
list price
f.o.b. delivered pricing
baby boomers
f.o.b. origin pricing
17. 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
variable costs
market segmentation
shopping product
economics of scale
18. A pricing tactic in which the seller absorbs the total cost of transportation
generic marketing
market
experimental pricing
freight absorption pricing
19. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
price subsidies
bid riggin
empty nesters
sales or market share objective
20. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
maintenance - repair - and operating products
demand curve
subculture
equipment
21. 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
determining dimensions
demand curve
time-series analysis
knock-off
22. The overall feelings or attitude a person has about a product after purchasing it
price maintenance
venture teams
single target market approach
consumer satisfaction/dissatisfiaction
23. Basic or necessary items that are available almost everywhere
learning
combined market approach
time-series analysis
staples
24. The division of a market according to benefits that consumers want from the product
benefit segmentation
operating costs
qualifying dimensions
random factor analysis
25. The practice of linking products to a particular social cause on an ongoing or short-term basis
cause-related marketing
price bundling
trademark
early majority
26. A strategy of ducking under a competitor's price by a fixed percentage
time-series analysis
internal reference price
equipment
umbrella pricing
27. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
universal functions of marketing
consumer-to-consumer e-commerce
brand manager
micromarketing
28. 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
shopping product
real income
switching costs
29. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories
customer satisfaction objective
time-series analysis
shopping product
opinion leader
30. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
test marketing
zone pricing
generic marketing
fast-moving consumer goods
31. An organizational unit that focuses on some product markets and is treated as a separate profit center
value pricing everyday low-pricing
strategic business unit sbu
gen y
brand extension
32. The set of alternative brands the consumer is considering for the decision process
profit objective
target costing
trade or functional discounts
consideration set
33. A pricing strategy in which a firm sets prices that provide ultimate value to customers
fixed costs
co-branding
value pricing everyday low-pricing
product market
34. An arrangement unique to business marketing in which two organizations agree to buy from each other
f.o.b. delivered pricing
reciprocity
gen x
decline stage
35. 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
f.o.b. delivered pricing
captive pricing
price discrimination
laggards
36. A new product sold with the same brand name as a strong existing brand
social class
core product
brand extension
introduction
37. Segmenting the market and picking one of the homogeneous segments as the firms target market
combined market approach
internal reference price
captive pricing
single target market approach
38. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
birthrate
product life cycle
market information function
multicultural marketing
39. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
learning
generic marketing
sex roles
portfolio management
40. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
micromarketing
predatory pricing
qualifying dimensions
expert forecasting survey
41. Number of babies born per 1000 people fluctuated greatly in last 65 years
decline stage
Delphi technique
bartering
birthrate
42. The first segment (2.5%) of a population to adopt a new product
innovators
price-floor pricing
culture
frequent discounting
43. Tohose whose adoption to a new product signals a general acceptance of the innovation
family brand
captive pricing
quantity discounts
early majority
44. The value that customers give up - or exchange - to obtain a desired product
competitive effect objective
price
single target market approach
f.o.b. delivered pricing
45. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
sustainability
family brand
market
value pricing everyday low-pricing
46. The last consumers to adopt the innovation
laggards
customer satisfaction objective
early majority
mass marketing
47. A relatively permanent change in behavior caused by acquired information or experience
cost of ownership
birthrate
bartering
learning
48. Brands that are owned and sold by a specific - retailer or distributor
store or private-label brands
diffusion
price maintenance
umbrella pricing
49. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
qualifying dimensions
fixed costs
sales forecast
baby boomers
50. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline
product adoption
tipping point
brand loyalty
birthrate