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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. Moral standards that guide marketing decisions and actions
conformity
marketing ethics
trademark
customer satisfaction objective
2. Brands that are owned and sold by a specific - retailer or distributor
demand-based pricing
continous innovation
target market
store or private-label brands
3. An integrated economic and social unit wit a large population nucleus
market
information search
metropolitan statistical area (msa)
personality
4. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
price inelastic
classical conditioning
test marketing
brand equity
5. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
image enhancement objective
empty nesters
f.o.b. origin pricing
attitude
6. Refers to the generation born immediately following the baby boom - from 1965-1977
gen x
goods
judgment
economics of scale
7. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
price leadership (follower)
reciprocity
universal functions of marketing
co-branding
8. The division of a market according to benefits that consumers want from the product
customer satisfaction
benefit segmentation
involvment
co-branding
9. Pricing a new product low for a limited period of time to lower the risk for a customer
behavioral learning theories
trial pricing
perception
dynamically continuous innovation
10. The actual interaction between the customer and the service provider
trade or functional discounts
switching costs
service encounter
operant conditioning
11. 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
price maintenance
inelastic demand
trademark
tipping point
12. Those who adopt an innovation early in the diffusion process but later than the innovators
early adopters
reciprocity
service encounter
laggards
13. Goods that a business customer consumes in a relatively short time
early majority
maintenance - repair - and operating products
multicultural marketing
image enhancement objective
14. The dimensions that consumers use to compare completing product alternatives
evaluative criteria
multiple target market approach
demand-based pricing
target market
15. To try to find similar patterns within sets of data
clustering techniques
cause-related marketing
price maintenance
empty nesters
16. Selling two or more goods or services as a single package for one price
price lining
diffusion
price bundling
sales or market share objective
17. A product people often buy on the spur of the moment
impulse product
brand extension
list price
convenience product
18. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
maintenance - repair - and operating products
brand
sales force forecasting survey
19. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
list price
online auctions
sales force forecasting survey
staples
20. A means of measuring a website's success by tracking customers' movement around the company website
mass marketing
universal functions of marketing
sales or market share objective
clickstream analysis
21. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
senior citizens
mass marketing
multicultural marketing
opportunity cost
22. Expensive goods that an organization uses in its daily operations that last for a long time
marketing ethics
opportunity cost
equipment
stimulus generalization
23. The value that customers give up - or exchange - to obtain a desired product
component parts
trade or functional discounts
price
penetration strategy
24. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
product adoption
augmented product
subculture
licensing
25. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
seasonal analysis
nondurable goods
brand
venture teams
26. Pricing products with a focus on a target level of profit growth or a desired net profit margin
early adopters
profit objective
market manager
bait and switch
27. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
clickstream analysis
combiners
freight absorption pricing
economics of scale
28. A product that consumers perceive to be new and different form existing products
product life cycle
innovation
target market
strategic business unit sbu
29. A new product that copies with slight modification the design of an original product
knock-off
zone pricing
price
convenience product
30. Discounts based only on the quantity purchased in individual orders
continous innovation
early adopters
non-cumulative quantity discounts
image enhancement objective
31. A pricing strategy that considers the lifetime cost of using the product
cost of ownership
market
sales forecast
pure subsistence economy
32. Costs of production that do not change with the number of units produced
micromarketing
fixed costs
competitive advantage
sales force forecasting survey
33. The values - beliefs - customs - and tastes that a group of people value
culture
growth stage
brand extension
market test
34. The practice of exchanging a good or service for another good or service of like value
benefit segmentation
inelastic demand
product life cycle
bartering
35. Charging a very high - premium price for a new product
zone pricing
cognitive learning theory
skimming price
early adopters
36. A pricing tactic in which customers in different geographic zones pay different transportation rates
multicultural marketing
diffusion
product line
zone pricing
37. When each family unit produces everything it consumes
market test
pure subsistence economy
cognitive dissonance
price elastic
38. 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
fixed costs
goods
laggards
f.o.b. delivered pricing
39. Products we purchase when we're in dire need
portfolio management
cost-plus pricing
emergency product
heuristics
40. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
conformity
prestige pricing
sex roles
multiple target market approach
41. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
unsought products
seasonal analysis
goods
breakthrough opportunities
42. When a percentage change in price results in a smaller percentage change in the quantity demanded
cognitive learning theory
price inelastic
portfolio management
price-floor pricing
43. E-commerce that allows shoppers to purchase products through online bidding
specialty products
price leadership (follower)
family brand
online auctions
44. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
trademark
early adopters
metropolitan statistical area (msa)
subculture
45. 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
knock-off
price maintenance
venture teams
cost-plus pricing
46. A change in an existing product that requires a moderate amount of learning or behavior change
customer forecasting survey
market segmentation
target market
dynamically continuous innovation
47. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
customer forecasting survey
convenience product
hierarchy of needs
personality
48. What is left after taxes
disposable income
diffusion
customer satisfaction
processed material
49. The final stage in the product life cycle - in which sales decrease as customer needs change
universal functions of marketing
predatory pricing
decline stage
customer satisfaction
50. The first segment (2.5%) of a population to adopt a new product
continous innovation
random factor analysis
behavioral learning theories
innovators