SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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 third and longest stage in the product life cycle - in which sales peak and profit margin narrows
maturity stage
test marketing
maintenance - repair - and operating products
target costing
2. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes
sales force forecasting survey
market segmentation
decline stage
test marketing
3. The percentage change in unit sales that results from a percentage change in price
multiple target market approach
customer relationship management (crm)
experimental pricing
price elasticity
4. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
self-concept
licensing
store or private-label brands
maturity stage
5. A pricing tactic in which customers in different geographic zones pay different transportation rates
diffusion
baby boomers
f.o.b. origin pricing
zone pricing
6. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
price subsidies
market test
product adoption
behavioral learning theories
7. People whose children are grown and who are now able to spend their money in other ways
empty nesters
fast-moving consumer goods
yield-management pricing
discontinuous innovation
8. People over 65
bid riggin
senior citizens
perceived risk
gen y
9. Basic or necessary items that are available almost everywhere
trial pricing
predatory pricing
customer relationship management (crm)
staples
10. Refers to the generation born immediately following the baby boom - from 1965-1977
demand-based pricing
growth stage
online auctions
gen x
11. Income that is adjusted to take out the effects of inflation on purchasing power
segmenting
customer relationship management (crm)
real income
metropolitan statistical area (msa)
12. Costs involved in using a product
social class
augmented product
operating costs
staples
13. The process by which organization adjust their offering in an attempt to match demand
internal reference price
continous innovation
capacity management
multicultural marketing
14. 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
market
determining dimensions
disintermediation
laggards
15. Sometimes called millenials - refer to those born from 1978-1994
cumulative quantity discounts
gen y
discetionary income
bait and switch
16. What is left after taxes
birthrate
pure subsistence economy
disposable income
family brand
17. Selling two or more goods or services as a single package for one price
demand-based pricing
trend analysis
combiners
price bundling
18. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time
price lining
zone pricing
brand
licensing
19. The process of eliminating interaction between customers and service providers
price lining
disintermediation
brand loyalty
trend analysis
20. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition
clustering techniques
unsought products
brand loyalty
price inelastic
21. Pricing that is intended to maximize customer satisfaction and retention
trial pricing
customer satisfaction objective
profit objective
cost-plus pricing
22. A modification of an existing product that sets one brand apart from its competitors
consumer behavior
product adoption
continous innovation
innovation
23. Communicating with large numbers of customers at the same time
product line
price inelastic
test marketing
mass selling
24. A strategy of frequently using sale prices to increase sales volume
quantity discounts
frequent discounting
pure subsistence economy
executive judgement
25. A homogeneous group of customers who will respond to a marketing mix in a similiar way
capacity management
market segment
consumer behavior
price leadership (follower)
26. 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
reference group
price maintenance
market information function
service encounter
27. The price the end customer is expected to pay as determined by the manufacturer
multicultural marketing
product category manager
learning
list price
28. The strategy of selling products at unreasonably low prices to drive competitors out of business
margin
predatory pricing
co-branding
consumer-to-consumer e-commerce
29. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
test marketing
operating costs
capacity management
product market
30. Group of people within an organization who focus exclusively on the development of a new product
cumulative quantity discounts
venture teams
prestige pricing
growth stage
31. All the benefits the product will provide for consumers or business customers
product life cycle
core product
sustainability
family life cycle
32. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment
cognitive learning theory
reciprocity
goods
cognitive dissonance
33. Combining two or more submarkets into one larger target market as a basis for one strategy
combined market approach
brand
diffusion
metropolitan statistical area (msa)
34. The practice of linking products to a particular social cause on an ongoing or short-term basis
pure subsistence economy
metropolitan statistical area (msa)
cause-related marketing
micromarketing
35. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
culture
sex roles
information search
non-cumulative quantity discounts
36. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
equipment
mass marketing
introduction
product line
37. Number of babies born per 1000 people fluctuated greatly in last 65 years
cannibalization
birthrate
lifestyle
early adopters
38. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer
classical conditioning
f.o.b. origin pricing
list price
cannibalization
39. A product people often buy on the spur of the moment
capacity management
switching costs
segments
impulse product
40. The final stage in the product life cycle - in which sales decrease as customer needs change
motivation
price lining
consideration set
decline stage
41. The practice of setting a limited number of different specific prices - called price points - for items in a product line
margin
price lining
opportunity cost
venture teams
42. The belief that use of a product has potentially negative consequences - either financial - physical or social
fast-moving consumer goods
baby boomers
perceived risk
market manager
43. 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
multicultural marketing
target costing
market segmentation
cause-related marketing
44. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
augmented product
variable pricing
regression analysis
self-concept
45. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
evaluative criteria
information search
fast-moving consumer goods
46. Moral standards that guide marketing decisions and actions
variable costs
marketing ethics
specialty products
information search
47. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
processed material
price bundling
growth stage
penetration strategy
48. A mental rule of thumb that leads to a speedy decision by simplifying the process
heuristics
equipment
cumulative quantity discounts
family brand
49. What is left of disposable income after paying for necessities
family life cycle
discetionary income
bait and switch
durable goods
50. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
demand-based pricing
emergency product
yield-management pricing
variable costs