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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. Basic or necessary items that are available almost everywhere
learning
staples
variable pricing
capacity management
2. To try to increase the size of their target markets by combining two or more segments
seasonal analysis
empty nesters
combiners
market segment
3. Discounts based on the total quantity bought within a specified time period
qualifying dimensions
opportunity cost
regression analysis
cumulative quantity discounts
4. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief
laggards
market information function
price subsidies
product line
5. Expensive goods that an organization uses in its daily operations that last for a long time
captive pricing
generic marketing
equipment
online auctions
6. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
price leadership (follower)
status symbols
diffusion
variable costs
7. Costs involved in moving from one brand to another
target market
market test
behavioral learning theories
switching costs
8. The practice of linking products to a particular social cause on an ongoing or short-term basis
self-concept
learning
disposable income
cause-related marketing
9. The pricing strategy of setting prices below cost to attract customers into a store
early adopters
loss-leader pricing
segmenting
captive pricing
10. A change in an existing product that requires a moderate amount of learning or behavior change
dynamically continuous innovation
customer satisfaction objective
cognitive dissonance
product life cycle
11. The process by which people select - organize - and interpret information form the outside world
switching costs
perception
portfolio management
product life cycle
12. Products created when firms transform raw materials from their original state
customer relationship management (crm)
innovators
innovation
processed material
13. Costs involved in using a product
cost of ownership
motivation
Delphi technique
operating costs
14. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
brand loyalty
random factor analysis
reciprocity
macro marketing
15. The psychological characteristics that consistently influence the way a person responds to situations in the environment
captive pricing
price elastic
personality
fast-moving consumer goods
16. 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
market segmentation
trial pricing
Delphi technique
discontinuous innovation
17. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
lifestyle
predatory pricing
breakthrough opportunities
late majority
18. All the benefits the product will provide for consumers or business customers
culture
product market
loss-leader pricing
core product
19. Brands that are owned and sold by a specific - retailer or distributor
qualifying dimensions
capacity management
store or private-label brands
component parts
20. The overall feelings or attitude a person has about a product after purchasing it
consumer satisfaction/dissatisfiaction
operating costs
reciprocity
combined market approach
21. 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
cause-related marketing
price
target costing
conformity
22. What is left of disposable income after paying for necessities
customer forecasting survey
competitive effect objective
discetionary income
metropolitan statistical area (msa)
23. The belief that use of a product has potentially negative consequences - either financial - physical or social
perceived risk
processed material
competitive advantage
dynamically continuous innovation
24. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
price discrimination
trade or functional discounts
penetration strategy
new product failure
25. Costs of production that do not change with the number of units produced
introduction
fixed costs
nondurable goods
brand
26. Pricing that is intended to have an effect on the marketing efforts of the competition
price subsidies
competitive effect objective
operating costs
decline stage
27. The final stage in the product life cycle - in which sales decrease as customer needs change
yield-management pricing
sales force forecasting survey
price lining
decline stage
28. A new product that copies with slight modification the design of an original product
maturity stage
brand
knock-off
list price
29. The first segment (2.5%) of a population to adopt a new product
family brand
conformity
trade or functional discounts
innovators
30. Aim at one or more homogeneous segments and try to develop different marketing mix for each
nondurable goods
frequent discounting
segments
fast-moving consumer goods
31. Refers to the generation born immediately following the baby boom - from 1965-1977
gen x
price inelastic
reciprocity
personality
32. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention
perception
cumulative quantity discounts
unsought products
multicultural marketing
33. Products we purchase when we're in dire need
augmented product
reference group
emergency product
introduction
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
experimental pricing
online auctions
cost-plus pricing
expert forecasting survey
35. 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
dynamic pricing
variable costs
captive pricing
36. The percentage change in unit sales that results from a percentage change in price
reciprocity
price elasticity
real income
cause-related marketing
37. An aggregating process - clustering people with similar needs into a "market segment"
cumulative quantity discounts
convenience product
segmenting
price-floor pricing
38. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
price subsidies
skimming price
augmented product
venture teams
39. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
market test
economics of scale
component parts
continous innovation
40. People whose children are grown and who are now able to spend their money in other ways
fast-moving consumer goods
evaluative criteria
empty nesters
expert forecasting survey
41. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
capacity management
multiple target market approach
classical conditioning
uniform delivered pricing
42. The dimensions that consumers use to compare completing product alternatives
baby boomers
shopping product
brand extension
evaluative criteria
43. The process of eliminating interaction between customers and service providers
multiple target market approach
trade or functional discounts
maintenance - repair - and operating products
disintermediation
44. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
price
random factor analysis
reference group
trade or functional discounts
45. A manager who is responsible for developing and implementing the marketing plan for a single brand
brand manager
discontinuous innovation
market manager
internal reference price
46. 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
introduction
market segmentation
inelastic demand
target marketing
47. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
price leadership (follower)
judgment
subculture
bartering
48. A modification of an existing product that sets one brand apart from its competitors
information search
reference group
continous innovation
penetration strategy
49. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
cumulative quantity discounts
sustainability
opinion leader
price discrimination
50. A homogeneous group of customers who will respond to a marketing mix in a similiar way
product life cycle
market segment
brand equity
learning