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Test your basic knowledge |
Marketing Basics
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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 we purchase when we're in dire need
impulse product
emergency product
target marketing
bartering
2. 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
f.o.b. delivered pricing
target marketing
trademark
sales or market share objective
3. Brands that the manufacturer of the product owns
involvment
generic marketing
specialty products
national or manufacturer brands
4. A pricing strategy in which a firm sets prices that provide ultimate value to customers
variable costs
specialty products
value pricing everyday low-pricing
conformity
5. 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
umbrella pricing
cause-related marketing
brand equity
market information function
6. A pricing tactic in which customers in different geographic zones pay different transportation rates
diffusion
competitive effect objective
augmented product
zone pricing
7. Relevant to including a customer type in a product market
market segment
actual product
test marketing
qualifying dimensions
8. The strategy of selling products at unreasonably low prices to drive competitors out of business
predatory pricing
switching costs
conformity
convenience product
9. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
cannibalization
portfolio management
subculture
baby boomers
10. An organizational unit that focuses on some product markets and is treated as a separate profit center
internal reference price
inelastic demand
target market
strategic business unit sbu
11. Number of babies born per 1000 people fluctuated greatly in last 65 years
birthrate
competitive effect objective
market manager
bait and switch
12. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
classical conditioning
actual product
information search
component parts
13. 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
time-series analysis
f.o.b. delivered pricing
freight absorption pricing
fast-moving consumer goods
14. The relative importance of perceived consequences of the purchase to a consumer
target marketing
involvment
price bundling
convenience product
15. 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
Delphi technique
market segmentation
behavioral learning theories
hierarchy of needs
16. Segmenting the market and picking one of the homogeneous segments as the firms target market
single target market approach
trend analysis
subculture
self-concept
17. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
umbrella pricing
expert forecasting survey
prestige pricing
competitive effect objective
18. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
subculture
market manager
cost of ownership
reference group
19. Group of people within an organization who focus exclusively on the development of a new product
market test
venture teams
cycle analysis
price maintenance
20. People over 65
early adopters
senior citizens
product market
clustering techniques
21. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
prestige pricing
economics of scale
brand manager
price lining
22. Selling two or more goods or services as a single package for one price
price bundling
perception
tipping point
lifestyle
23. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
product category manager
mass selling
specialty products
behavioral learning theories
24. Tangible products we can see - touch - smell - hear - taste
goods
price inelastic
fixed costs
differentation
25. 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
cause-related marketing
bait and switch
portfolio management
umbrella pricing
26. A fairly homogeneous group of customers to whom a company wishes to appeal
trade or functional discounts
benefit segmentation
target market
marketing ethics
27. When each family unit produces everything it consumes
licensing
equipment
variable costs
pure subsistence economy
28. A brand that a group of individual products or individual brands share
market segment
price-floor pricing
family brand
store or private-label brands
29. The practice of linking products to a particular social cause on an ongoing or short-term basis
actual product
brand manager
cause-related marketing
conformity
30. The process by which organization adjust their offering in an attempt to match demand
store or private-label brands
capacity management
Delphi technique
staples
31. To try to increase the size of their target markets by combining two or more segments
combiners
perception
actual product
convenience product
32. 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
switching costs
mass selling
f.o.b. origin pricing
customer satisfaction
33. An arrangement unique to business marketing in which two organizations agree to buy from each other
perception
disposable income
reciprocity
expert forecasting survey
34. Those that actually affect the customers purchase of specific product or brand in a product market
price discrimination
marketing ethics
bid riggin
determining dimensions
35. The price the end customer is expected to pay as determined by the manufacturer
list price
market segment
product line
growth stage
36. An agreement between two brands to work together in marketing new or existing products
co-branding
introduction
experimental pricing
status symbols
37. The seller fine tunes the marketing effort with info from a detailed customer database
reciprocity
tipping point
durable goods
customer relationship management (crm)
38. A means of characterizing consumers based on the different family stages they pass through as they grow older
price elastic
cost-plus pricing
family life cycle
involvment
39. Sometimes called millenials - refer to those born from 1978-1994
mass marketing
gen y
zone pricing
SWOT analysis
40. The process of eliminating interaction between customers and service providers
disintermediation
real income
customer relationship management (crm)
maturity stage
41. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
trend analysis
uniform delivered pricing
brand manager
knock-off
42. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
test marketing
clustering techniques
dynamic pricing
generic marketing
43. A pricing strategy that considers the lifetime cost of using the product
heuristics
cost of ownership
breakthrough opportunities
cause-related marketing
44. Discounts based only on the quantity purchased in individual orders
innovation
non-cumulative quantity discounts
maturity stage
cognitive learning theory
45. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
lifestyle
customer relationship management (crm)
SWOT analysis
opportunity cost
46. The practice of setting a limited number of different specific prices - called price points - for items in a product line
customer satisfaction objective
price lining
cost of ownership
staples
47. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
stimulus generalization
economics of scale
price subsidies
universal functions of marketing
48. Pricing intended to establish a desired image or positioning to prospective customers
bait and switch
universal functions of marketing
operant conditioning
image enhancement objective
49. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief
random factor analysis
growth stage
price subsidies
tipping point
50. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
culture
status symbols
lifestyle
durable goods
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