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Test your basic knowledge |
Marketing Basics
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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.
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 survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
zone pricing
expert forecasting survey
price subsidies
sales force forecasting survey
2. The practice of setting a limited number of different specific prices - called price points - for items in a product line
cost of ownership
information search
price lining
discetionary income
3. 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
captive pricing
price lining
zone pricing
product life cycle
4. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
online auctions
consumer satisfaction/dissatisfiaction
behavioral learning theories
bid riggin
5. The process by which organization adjust their offering in an attempt to match demand
new product failure
capacity management
segments
inelastic demand
6. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus
image enhancement objective
classical conditioning
inelastic demand
generic marketing
7. A situation in which an increase or a decrease in price will not significantly affect demand for the product
gen y
benefit segmentation
inelastic demand
customer satisfaction
8. Brands that are owned and sold by a specific - retailer or distributor
SWOT analysis
store or private-label brands
stimulus generalization
subculture
9. All the benefits the product will provide for consumers or business customers
marketing ethics
variable costs
core product
f.o.b. origin pricing
10. A means of measuring a website's success by tracking customers' movement around the company website
consideration set
laggards
consumer satisfaction/dissatisfiaction
clickstream analysis
11. An organizational unit that focuses on some product markets and is treated as a separate profit center
market segment
online auctions
clickstream analysis
strategic business unit sbu
12. Discounts based on the total quantity bought within a specified time period
cumulative quantity discounts
trend analysis
reciprocity
cost of ownership
13. A marketing mix is tailored to fit some specific target customers
sex roles
involvment
target marketing
family brand
14. 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
early adopters
f.o.b. origin pricing
classical conditioning
yield-management pricing
15. An aggregating process - clustering people with similar needs into a "market segment"
price discrimination
late majority
loss-leader pricing
segmenting
16. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
multiple target market approach
brand equity
self-concept
maintenance - repair - and operating products
17. Learning that occurs as the result of rewards of punishments
operant conditioning
cause-related marketing
perception
tipping point
18. The process of eliminating interaction between customers and service providers
universal functions of marketing
disintermediation
disposable income
diffusion
19. Expensive goods that an organization uses in its daily operations that last for a long time
gen y
equipment
specialty products
brand
20. The value of a brand to an organization
executive judgement
penetration strategy
brand equity
bartering
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
opinion leader
customer relationship management (crm)
conformity
multiple target market approach
22. The last consumers to adopt the innovation
segments
laggards
penetration strategy
hierarchy of needs
23. The value of something that is given up to obtain something else
yield-management pricing
maintenance - repair - and operating products
opportunity cost
customer satisfaction objective
24. E-commerce that allows shoppers to purchase products through online bidding
clustering techniques
price leadership (follower)
online auctions
empty nesters
25. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
price elastic
random factor analysis
trademark
yield-management pricing
26. The loss of sales of an existing product when a new item in a product line or product family is introduced
unsought products
convenience product
cannibalization
portfolio management
27. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item
judgment
bait and switch
brand equity
product category manager
28. 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
service encounter
cognitive learning theory
store or private-label brands
continous innovation
29. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
sex roles
sustainability
early majority
price maintenance
30. A pricing tactic in which customers in different geographic zones pay different transportation rates
baby boomers
zone pricing
goods
emergency product
31. The collaboration of two or more firms in setting prices - usually to keep prices high
price maintenance
personality
component parts
dynamically continuous innovation
32. The practice of linking products to a particular social cause on an ongoing or short-term basis
senior citizens
margin
cause-related marketing
trial pricing
33. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
information search
multiple target market approach
shopping product
SWOT analysis
34. The values - beliefs - customs - and tastes that a group of people value
cost of ownership
culture
combined market approach
price bundling
35. When a percentage change in price results in a smaller percentage change in the quantity demanded
fixed costs
price inelastic
judgment
equipment
36. The regret or remorse buyers may feel after making a purchase
multicultural marketing
cognitive dissonance
non-cumulative quantity discounts
dynamically continuous innovation
37. The strategy of selling products at unreasonably low prices to drive competitors out of business
brand loyalty
licensing
pure subsistence economy
predatory pricing
38. The relative importance of perceived consequences of the purchase to a consumer
conformity
cannibalization
status symbols
involvment
39. 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
time-series analysis
laggards
nondurable goods
price bundling
40. The difference between the cost of the product and the selling price of the product
component parts
margin
sustainability
family brand
41. A homogeneous group of customers who will respond to a marketing mix in a similiar way
market segment
market test
frequent discounting
zone pricing
42. Refers to the generation born immediately following the baby boom - from 1965-1977
brand equity
store or private-label brands
gen x
variable costs
43. A firm's total product offering designed to satisfy a single need or desire of target customers
SWOT analysis
product line
demand-based pricing
executive judgement
44. People over 65
senior citizens
actual product
lifestyle
determining dimensions
45. When each family unit produces everything it consumes
brand extension
breakthrough opportunities
pure subsistence economy
trade or functional discounts
46. The process by which the use of a product spreads throughout the population
diffusion
multicultural marketing
segmenting
cycle analysis
47. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
new product failure
competitive advantage
innovators
pure subsistence economy
48. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
trend analysis
predatory pricing
variable costs
cognitive learning theory
49. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
emergency product
internal reference price
test marketing
mass marketing
50. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
regression analysis
tipping point
continous innovation
introduction
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