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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 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
consumer-to-consumer e-commerce
target marketing
random factor analysis
social class
2. Pricing a new product low for a limited period of time to lower the risk for a customer
Delphi technique
convenience product
trial pricing
f.o.b. delivered pricing
3. Sales forecasting based on the intuition of one or more executives
reference group
frequent discounting
licensing
executive judgement
4. The value of something that is given up to obtain something else
goods
opportunity cost
innovation
price elasticity
5. An agreement between two brands to work together in marketing new or existing products
mass selling
goods
portfolio management
co-branding
6. The practice of setting a limited number of different specific prices - called price points - for items in a product line
early majority
price lining
universal functions of marketing
multicultural marketing
7. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
subculture
pure subsistence economy
f.o.b. delivered pricing
cannibalization
8. An integrated economic and social unit wit a large population nucleus
SWOT analysis
family brand
laggards
metropolitan statistical area (msa)
9. People whose children are grown and who are now able to spend their money in other ways
empty nesters
co-branding
frequent discounting
introduction
10. A product that consumers perceive to be new and different form existing products
specialty products
profit objective
innovation
loss-leader pricing
11. Costs involved in using a product
convenience product
operating costs
product life cycle
pure subsistence economy
12. A means of measuring a website's success by tracking customers' movement around the company website
portfolio management
behavioral learning theories
clickstream analysis
trademark
13. A relatively permanent change in behavior caused by acquired information or experience
demand curve
trend analysis
classical conditioning
learning
14. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
behavioral learning theories
random factor analysis
raw materials
disposable income
15. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
family life cycle
operating costs
continous innovation
product adoption
16. The relative importance of perceived consequences of the purchase to a consumer
skimming price
involvment
price elastic
cognitive dissonance
17. A marketing mix is tailored to fit some specific target customers
brand equity
target marketing
brand
judgment
18. Expensive goods that an organization uses in its daily operations that last for a long time
real income
equipment
diffusion
trademark
19. The psychological characteristics that consistently influence the way a person responds to situations in the environment
product market
baby boomers
personality
product category manager
20. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
sales or market share objective
empty nesters
behavioral learning theories
predatory pricing
21. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
non-cumulative quantity discounts
growth stage
expert forecasting survey
multiple target market approach
22. The marketing mix is distinct from and better than what is available from a competitor
tipping point
discontinuous innovation
loss-leader pricing
differentation
23. A social process that directs an economy
macro marketing
operating costs
judgment
trade or functional discounts
24. Refers to the generation born immediately following the baby boom - from 1965-1977
gen x
list price
mass selling
lifestyle
25. The loss of sales of an existing product when a new item in a product line or product family is introduced
maturity stage
raw materials
cannibalization
economics of scale
26. The regret or remorse buyers may feel after making a purchase
cycle analysis
cognitive dissonance
trade or functional discounts
target market
27. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
bait and switch
expert forecasting survey
customer satisfaction objective
online auctions
28. 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
brand
discontinuous innovation
determining dimensions
behavioral learning theories
29. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
augmented product
bait and switch
uniform delivered pricing
breakthrough opportunities
30. A homogeneous group of customers who will respond to a marketing mix in a similiar way
penetration strategy
national or manufacturer brands
market segment
benefit segmentation
31. Segmenting the market and picking one of the homogeneous segments as the firms target market
single target market approach
brand equity
heuristics
continous innovation
32. Combining two or more submarkets into one larger target market as a basis for one strategy
portfolio management
combined market approach
product life cycle
new product failure
33. The pricing strategy of setting prices below cost to attract customers into a store
discontinuous innovation
loss-leader pricing
regression analysis
universal functions of marketing
34. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
generic marketing
motivation
early adopters
umbrella pricing
35. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
store or private-label brands
shopping product
target market
durable goods
36. Tangible products we can see - touch - smell - hear - taste
early adopters
cognitive learning theory
goods
price discrimination
37. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
decline stage
perception
sales forecast
discetionary income
38. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
core product
sustainability
bait and switch
test marketing
39. A modification of an existing product that sets one brand apart from its competitors
social class
product life cycle
continous innovation
value pricing everyday low-pricing
40. An organizational unit that focuses on some product markets and is treated as a separate profit center
tipping point
segments
behavioral learning theories
strategic business unit sbu
41. A mental rule of thumb that leads to a speedy decision by simplifying the process
product market
heuristics
product category manager
core product
42. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
innovators
zone pricing
universal functions of marketing
43. Pricing intended to establish a desired image or positioning to prospective customers
image enhancement objective
trial pricing
reciprocity
consideration set
44. Brands that the manufacturer of the product owns
internal reference price
national or manufacturer brands
multiple target market approach
experimental pricing
45. Products we purchase when we're in dire need
equipment
zone pricing
expert forecasting survey
emergency product
46. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit
price maintenance
licensing
cost-plus pricing
random factor analysis
47. What is left after taxes
economics of scale
market test
variable costs
disposable income
48. Products that consumers purchase to signal membership in a desirable social class
status symbols
variable costs
consideration set
price elasticity
49. Those that actually affect the customers purchase of specific product or brand in a product market
family brand
zone pricing
determining dimensions
fixed costs
50. The final stage in the product life cycle - in which sales decrease as customer needs change
test marketing
bait and switch
decline stage
sales forecast