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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 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
price discrimination
market
discetionary income
senior citizens
2. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
target costing
price-floor pricing
sales or market share objective
dynamic pricing
3. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
zone pricing
raw materials
maintenance - repair - and operating products
clustering techniques
4. A price-setting method based on estimated of demand at different prices
demand-based pricing
loss-leader pricing
cannibalization
customer satisfaction
5. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
attitude
regression analysis
early adopters
cycle analysis
6. The loss of sales of an existing product when a new item in a product line or product family is introduced
market
brand extension
cannibalization
single target market approach
7. The value of something that is given up to obtain something else
motivation
trend analysis
opportunity cost
switching costs
8. 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
target costing
brand manager
information search
brand loyalty
9. Learning that occurs as the result of rewards of punishments
operant conditioning
skimming price
price subsidies
sales forecast
10. A relatively permanent change in behavior caused by acquired information or experience
learning
tipping point
marketing ethics
birthrate
11. Relevant to including a customer type in a product market
price subsidies
co-branding
qualifying dimensions
macro marketing
12. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
family life cycle
product life cycle
reference group
variable pricing
13. The value of a brand to an organization
early majority
price elastic
senior citizens
brand equity
14. The process by which the use of a product spreads throughout the population
segmenting
diffusion
margin
uniform delivered pricing
15. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
store or private-label brands
shopping product
penetration strategy
learning
16. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
yield-management pricing
impulse product
sustainability
opinion leader
17. What is left of disposable income after paying for necessities
product life cycle
Delphi technique
opinion leader
discetionary income
18. The practice of setting a limited number of different specific prices - called price points - for items in a product line
social class
price subsidies
predatory pricing
price lining
19. A fairly homogeneous group of customers to whom a company wishes to appeal
empty nesters
target market
skimming price
value pricing everyday low-pricing
20. Pricing intended to establish a desired image or positioning to prospective customers
image enhancement objective
qualifying dimensions
demand-based pricing
generic marketing
21. 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
baby boomers
discontinuous innovation
market information function
market manager
22. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
expert forecasting survey
price lining
maintenance - repair - and operating products
innovators
23. The division of a market according to benefits that consumers want from the product
consumer behavior
benefit segmentation
experimental pricing
gen x
24. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
trial pricing
learning
segmenting
portfolio management
25. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
prestige pricing
nondurable goods
convenience product
operating costs
26. The difference between the cost of the product and the selling price of the product
segmenting
SWOT analysis
margin
hierarchy of needs
27. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
random factor analysis
segmenting
regression analysis
actual product
28. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer
f.o.b. delivered pricing
co-branding
price bundling
breakthrough opportunities
29. Those who adopt an innovation early in the diffusion process but later than the innovators
early adopters
trend analysis
classical conditioning
dynamic pricing
30. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
strategic business unit sbu
bait and switch
internal reference price
price discrimination
31. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
determining dimensions
trade or functional discounts
discetionary income
capacity management
32. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
market information function
customer forecasting survey
product category manager
diffusion
33. An agreement between two brands to work together in marketing new or existing products
variable pricing
perception
co-branding
market
34. Charging a very high - premium price for a new product
generic marketing
skimming price
price elasticity
price discrimination
35. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
judgment
continous innovation
multicultural marketing
universal functions of marketing
36. Those that actually affect the customers purchase of specific product or brand in a product market
combiners
unsought products
value pricing everyday low-pricing
determining dimensions
37. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
cycle analysis
sales force forecasting survey
convenience product
variable pricing
38. People whose children are grown and who are now able to spend their money in other ways
empty nesters
freight absorption pricing
price leadership (follower)
shopping product
39. Costs involved in moving from one brand to another
operant conditioning
real income
fixed costs
switching costs
40. Pricing that is intended to maximize customer satisfaction and retention
cognitive learning theory
customer satisfaction objective
discetionary income
quantity discounts
41. Products that exhibit consistently high velocity sales in the consumer marketplace
fast-moving consumer goods
maturity stage
trade or functional discounts
penetration strategy
42. Extent to which a firm fulfills a customers needs - desires - and expectations
store or private-label brands
cause-related marketing
customer satisfaction
regression analysis
43. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
micromarketing
trademark
store or private-label brands
fixed costs
44. All the benefits the product will provide for consumers or business customers
raw materials
price leadership (follower)
cause-related marketing
core product
45. People over 65
senior citizens
family life cycle
raw materials
trademark
46. A pricing strategy in which a firm sets prices that provide ultimate value to customers
hierarchy of needs
value pricing everyday low-pricing
customer relationship management (crm)
brand
47. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
consumer behavior
brand manager
seasonal analysis
brand
48. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
capacity management
social class
consumer behavior
customer forecasting survey
49. E-commerce that allows shoppers to purchase products through online bidding
frequent discounting
dynamic pricing
price elastic
online auctions
50. A strategy of ducking under a competitor's price by a fixed percentage
quantity discounts
umbrella pricing
learning
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