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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. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
non-cumulative quantity discounts
product category manager
gen y
processed material
2. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
component parts
breakthrough opportunities
nondurable goods
brand
3. Sales forecasting based on the intuition of one or more executives
laggards
hierarchy of needs
executive judgement
predatory pricing
4. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
penetration strategy
benefit segmentation
processed material
price
5. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
generic marketing
maturity stage
demand-based pricing
universal functions of marketing
6. A change in an existing product that requires a moderate amount of learning or behavior change
dynamically continuous innovation
core product
gen x
uniform delivered pricing
7. The practice of setting a limited number of different specific prices - called price points - for items in a product line
benefit segmentation
price lining
new product failure
emergency product
8. The relative importance of perceived consequences of the purchase to a consumer
culture
operant conditioning
involvment
market segmentation
9. A firm's total product offering designed to satisfy a single need or desire of target customers
product line
actual product
marketing ethics
capacity management
10. Selling two or more goods or services as a single package for one price
price bundling
mass marketing
status symbols
penetration strategy
11. Expensive goods that an organization uses in its daily operations that last for a long time
clustering techniques
gen y
demand-based pricing
equipment
12. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
evaluative criteria
birthrate
convenience product
SWOT analysis
13. The process by which the use of a product spreads throughout the population
heuristics
competitive effect objective
price subsidies
diffusion
14. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
price maintenance
service encounter
regression analysis
breakthrough opportunities
15. The process by which organization adjust their offering in an attempt to match demand
national or manufacturer brands
capacity management
yield-management pricing
convenience product
16. E-commerce that allows shoppers to purchase products through online bidding
online auctions
yield-management pricing
conformity
random factor analysis
17. Discounts based only on the quantity purchased in individual orders
perception
perceived risk
non-cumulative quantity discounts
family life cycle
18. 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
national or manufacturer brands
time-series analysis
consideration set
image enhancement objective
19. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
lifestyle
early majority
venture teams
brand
20. Those that actually affect the customers purchase of specific product or brand in a product market
sales force forecasting survey
breakthrough opportunities
determining dimensions
clickstream analysis
21. 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
online auctions
opinion leader
quantity discounts
dynamic pricing
22. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
shopping product
competitive advantage
target costing
differentation
23. The value of something that is given up to obtain something else
price elastic
opportunity cost
product adoption
bartering
24. 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
target market
combiners
market information function
impulse product
25. Brands that are owned and sold by a specific - retailer or distributor
store or private-label brands
cumulative quantity discounts
perceived risk
determining dimensions
26. 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
service encounter
product adoption
market test
trademark
27. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
maturity stage
cannibalization
sales forecast
emergency product
28. 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
online auctions
co-branding
tipping point
market segment
29. A manager who is responsible for developing and implementing the marketing plan for a single brand
cycle analysis
hierarchy of needs
macro marketing
brand manager
30. A totally new product that creates major changes in the way we live
perception
discontinuous innovation
market test
expert forecasting survey
31. Pricing that is intended to maximize customer satisfaction and retention
value pricing everyday low-pricing
customer satisfaction objective
differentation
price lining
32. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
early adopters
growth stage
consumer satisfaction/dissatisfiaction
discontinuous innovation
33. Pricing products with a focus on a target level of profit growth or a desired net profit margin
umbrella pricing
penetration strategy
profit objective
consumer behavior
34. Charging a very high - premium price for a new product
involvment
skimming price
cognitive learning theory
test marketing
35. Moral standards that guide marketing decisions and actions
marketing ethics
introduction
shopping product
product market
36. A relatively permanent change in behavior caused by acquired information or experience
learning
gen x
opinion leader
marketing ethics
37. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
random factor analysis
micromarketing
motivation
knock-off
38. The regret or remorse buyers may feel after making a purchase
cognitive dissonance
perceived risk
classical conditioning
brand extension
39. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs
penetration strategy
impulse product
innovation
market
40. The value that customers give up - or exchange - to obtain a desired product
gen y
price
SWOT analysis
unsought products
41. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
market test
cycle analysis
gen y
motivation
42. A mental rule of thumb that leads to a speedy decision by simplifying the process
price lining
bait and switch
heuristics
demand curve
43. An internal state that drives us to satisfy needs by activating goal-oriented behavior
motivation
actual product
multiple target market approach
emergency product
44. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
judgment
quantity discounts
conformity
product adoption
45. Relevant to including a customer type in a product market
bait and switch
freight absorption pricing
qualifying dimensions
conformity
46. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue
Delphi technique
experimental pricing
new product failure
continous innovation
47. The dimensions that consumers use to compare completing product alternatives
evaluative criteria
core product
durable goods
opinion leader
48. Tangible products we can see - touch - smell - hear - taste
discontinuous innovation
senior citizens
goods
knock-off
49. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
cost-plus pricing
generic marketing
subculture
motivation
50. 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
price lining
customer forecasting survey
price-floor pricing
value pricing everyday low-pricing