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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 practice of linking products to a particular social cause on an ongoing or short-term basis
nondurable goods
cognitive learning theory
clickstream analysis
cause-related marketing
2. Refers to the generation born immediately following the baby boom - from 1965-1977
experimental pricing
gen x
target market
sales forecast
3. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
market manager
sex roles
price inelastic
operating costs
4. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
empty nesters
information search
family brand
disposable income
5. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
competitive advantage
sales or market share objective
product life cycle
perception
6. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
marketing ethics
price discrimination
market information function
f.o.b. origin pricing
7. A strategy of ducking under a competitor's price by a fixed percentage
actual product
umbrella pricing
economics of scale
uniform delivered pricing
8. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
cycle analysis
product life cycle
market segment
unsought products
9. Costs involved in using a product
zone pricing
seasonal analysis
opinion leader
operating costs
10. Number of babies born per 1000 people fluctuated greatly in last 65 years
birthrate
variable pricing
clustering techniques
macro marketing
11. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
culture
clustering techniques
expert forecasting survey
personality
12. The practice of setting a limited number of different specific prices - called price points - for items in a product line
price lining
heuristics
brand equity
target market
13. Brands that are owned and sold by a specific - retailer or distributor
economics of scale
demand-based pricing
store or private-label brands
online auctions
14. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
inelastic demand
sales forecast
price leadership (follower)
target marketing
15. The last consumers to adopt the innovation
SWOT analysis
family life cycle
laggards
cost-plus pricing
16. The process by which people select - organize - and interpret information form the outside world
perception
market segment
dynamic pricing
innovators
17. The practice of exchanging a good or service for another good or service of like value
decline stage
mass selling
bartering
demand-based pricing
18. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
trade or functional discounts
profit objective
unsought products
trend analysis
19. The overall feelings or attitude a person has about a product after purchasing it
consumer satisfaction/dissatisfiaction
switching costs
stimulus generalization
disposable income
20. A manager who is responsible for developing and implementing the marketing plan for a single brand
SWOT analysis
frequent discounting
brand manager
subculture
21. Pricing a new product low for a limited period of time to lower the risk for a customer
maintenance - repair - and operating products
brand
universal functions of marketing
trial pricing
22. Pricing intended to establish a desired image or positioning to prospective customers
metropolitan statistical area (msa)
image enhancement objective
customer relationship management (crm)
target costing
23. An internal state that drives us to satisfy needs by activating goal-oriented behavior
lifestyle
birthrate
price bundling
motivation
24. 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
nondurable goods
gen y
captive pricing
f.o.b. origin pricing
25. A strategy where prices are set significantly higher than competing brands
frequent discounting
prestige pricing
late majority
introduction
26. The final stage in the product life cycle - in which sales decrease as customer needs change
goods
decline stage
combiners
time-series analysis
27. A relatively permanent change in behavior caused by acquired information or experience
product adoption
margin
learning
target market
28. Sales forecasting based on the intuition of one or more executives
disintermediation
executive judgement
market segment
sales or market share objective
29. Aim at one or more homogeneous segments and try to develop different marketing mix for each
segments
cycle analysis
brand extension
bartering
30. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri
customer forecasting survey
target costing
clickstream analysis
economics of scale
31. 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
freight absorption pricing
online auctions
late majority
social class
32. An integrated economic and social unit wit a large population nucleus
knock-off
customer satisfaction
metropolitan statistical area (msa)
discetionary income
33. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
real income
price elasticity
multiple target market approach
penetration strategy
34. 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
cost-plus pricing
fast-moving consumer goods
family brand
perception
35. 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
diffusion
time-series analysis
evaluative criteria
value pricing everyday low-pricing
36. A product people often buy on the spur of the moment
impulse product
early adopters
perceived risk
hierarchy of needs
37. An aggregating process - clustering people with similar needs into a "market segment"
brand
discontinuous innovation
segmenting
convenience product
38. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
macro marketing
dynamic pricing
judgment
store or private-label brands
39. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
reciprocity
augmented product
customer satisfaction objective
consideration set
40. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
cost of ownership
knock-off
internal reference price
generic marketing
41. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
price-floor pricing
universal functions of marketing
status symbols
competitive advantage
42. 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
fixed costs
opportunity cost
trademark
segments
43. To try to find similar patterns within sets of data
decline stage
target marketing
clustering techniques
sales or market share objective
44. A strategy of frequently using sale prices to increase sales volume
cause-related marketing
frequent discounting
metropolitan statistical area (msa)
innovators
45. A firm's total product offering designed to satisfy a single need or desire of target customers
value pricing everyday low-pricing
disposable income
product line
segments
46. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
perceived risk
self-concept
attitude
uniform delivered pricing
47. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
sustainability
reciprocity
birthrate
yield-management pricing
48. Pricing products to maximize sales or to attain a desired level of sales or market share
baby boomers
sales or market share objective
equipment
random factor analysis
49. To try to increase the size of their target markets by combining two or more segments
bait and switch
cognitive learning theory
test marketing
combiners
50. A modification of an existing product that sets one brand apart from its competitors
product life cycle
consumer-to-consumer e-commerce
continous innovation
segments