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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 first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
augmented product
bid riggin
introduction
price leadership (follower)
2. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
lifestyle
non-cumulative quantity discounts
knock-off
new product failure
3. An arrangement unique to business marketing in which two organizations agree to buy from each other
reciprocity
fixed costs
growth stage
operating costs
4. Refers to the generation born immediately following the baby boom - from 1965-1977
co-branding
pure subsistence economy
single target market approach
gen x
5. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
self-concept
cognitive dissonance
price leadership (follower)
market
6. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
consideration set
heuristics
sales forecast
brand
7. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
target marketing
customer forecasting survey
nondurable goods
internal reference price
8. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
operant conditioning
online auctions
customer forecasting survey
self-concept
9. Discounts based on the total quantity bought within a specified time period
cumulative quantity discounts
national or manufacturer brands
freight absorption pricing
unsought products
10. A change in an existing product that requires a moderate amount of learning or behavior change
price discrimination
target market
metropolitan statistical area (msa)
dynamically continuous innovation
11. A pricing strategy that considers the lifetime cost of using the product
raw materials
brand manager
cost of ownership
macro marketing
12. The actual interaction between the customer and the service provider
growth stage
brand loyalty
service encounter
cycle analysis
13. The last consumers to adopt the innovation
experimental pricing
price leadership (follower)
laggards
early adopters
14. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
cost of ownership
micromarketing
co-branding
birthrate
15. Combining two or more submarkets into one larger target market as a basis for one strategy
combined market approach
price leadership (follower)
micromarketing
frequent discounting
16. The percentage change in unit sales that results from a percentage change in price
price elasticity
heuristics
economics of scale
umbrella pricing
17. Brands that the manufacturer of the product owns
dynamic pricing
consumer satisfaction/dissatisfiaction
diffusion
national or manufacturer brands
18. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
multicultural marketing
strategic business unit sbu
product life cycle
price subsidies
19. The practice of setting a limited number of different specific prices - called price points - for items in a product line
price lining
sales forecast
SWOT analysis
dynamically continuous innovation
20. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
hierarchy of needs
portfolio management
information search
macro marketing
21. The practice of exchanging a good or service for another good or service of like value
breakthrough opportunities
consumer behavior
bartering
segments
22. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
dynamic pricing
breakthrough opportunities
skimming price
differentation
23. The set of alternative brands the consumer is considering for the decision process
clickstream analysis
trial pricing
consideration set
processed material
24. Group of people within an organization who focus exclusively on the development of a new product
consumer-to-consumer e-commerce
multicultural marketing
venture teams
subculture
25. A new product sold with the same brand name as a strong existing brand
brand extension
component parts
bait and switch
gen y
26. Income that is adjusted to take out the effects of inflation on purchasing power
national or manufacturer brands
real income
gen y
decline stage
27. E-commerce that allows shoppers to purchase products through online bidding
new product failure
online auctions
customer satisfaction objective
innovators
28. 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
sex roles
hierarchy of needs
actual product
umbrella pricing
29. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
SWOT analysis
zone pricing
market segmentation
consumer-to-consumer e-commerce
30. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition
core product
diffusion
brand
dynamic pricing
31. A fairly homogeneous group of customers to whom a company wishes to appeal
venture teams
target market
classical conditioning
culture
32. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
self-concept
dynamic pricing
mass marketing
augmented product
33. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
dynamically continuous innovation
random factor analysis
product market
umbrella pricing
34. A relatively permanent change in behavior caused by acquired information or experience
growth stage
culture
skimming price
learning
35. An internal state that drives us to satisfy needs by activating goal-oriented behavior
motivation
zone pricing
national or manufacturer brands
staples
36. The practice of linking products to a particular social cause on an ongoing or short-term basis
clickstream analysis
cause-related marketing
behavioral learning theories
Delphi technique
37. 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
customer forecasting survey
new product failure
cause-related marketing
captive pricing
38. A pricing tactic in which the seller absorbs the total cost of transportation
family brand
freight absorption pricing
multiple target market approach
conformity
39. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
status symbols
brand extension
test marketing
combiners
40. To try to find similar patterns within sets of data
information search
combined market approach
clustering techniques
early adopters
41. The psychological characteristics that consistently influence the way a person responds to situations in the environment
personality
specialty products
hierarchy of needs
non-cumulative quantity discounts
42. Aim at one or more homogeneous segments and try to develop different marketing mix for each
segments
tipping point
information search
sales or market share objective
43. Pricing products with a focus on a target level of profit growth or a desired net profit margin
price maintenance
brand manager
profit objective
switching costs
44. Pricing a new product low for a limited period of time to lower the risk for a customer
trial pricing
customer satisfaction objective
variable costs
quantity discounts
45. The process by which organization adjust their offering in an attempt to match demand
capacity management
cognitive dissonance
switching costs
metropolitan statistical area (msa)
46. The seller fine tunes the marketing effort with info from a detailed customer database
innovators
quantity discounts
uniform delivered pricing
customer relationship management (crm)
47. 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
combiners
trademark
price-floor pricing
competitive effect objective
48. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
variable pricing
culture
market
market test
49. The values - beliefs - customs - and tastes that a group of people value
culture
knock-off
evaluative criteria
market
50. The process by which people select - organize - and interpret information form the outside world
perception
customer satisfaction objective
price elasticity
cycle analysis