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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. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
quantity discounts
cycle analysis
market test
executive judgement
2. Goods that a business customer consumes in a relatively short time
operant conditioning
strategic business unit sbu
test marketing
maintenance - repair - and operating products
3. People whose children are grown and who are now able to spend their money in other ways
predatory pricing
empty nesters
information search
dynamically continuous innovation
4. The psychological characteristics that consistently influence the way a person responds to situations in the environment
raw materials
freight absorption pricing
personality
operant conditioning
5. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
emergency product
breakthrough opportunities
experimental pricing
information search
6. 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
family life cycle
discetionary income
unsought products
cost-plus pricing
7. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
reciprocity
dynamic pricing
customer relationship management (crm)
brand
8. The last consumers to adopt the innovation
fast-moving consumer goods
laggards
inelastic demand
bid riggin
9. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
status symbols
attitude
trend analysis
store or private-label brands
10. A change in beliefs or actions as a reaction to real or imagined group pressure
social class
test marketing
price elastic
conformity
11. The practice of exchanging a good or service for another good or service of like value
core product
portfolio management
bartering
introduction
12. A strategy of experimenting with prices until the price that generates the highest profitability is found
unsought products
stimulus generalization
experimental pricing
profit objective
13. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top
knock-off
clickstream analysis
late majority
hierarchy of needs
14. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
price
zone pricing
component parts
product market
15. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
goods
regression analysis
behavioral learning theories
emergency product
16. An integrated economic and social unit wit a large population nucleus
executive judgement
metropolitan statistical area (msa)
new product failure
discetionary income
17. An arrangement unique to business marketing in which two organizations agree to buy from each other
attitude
reciprocity
profit objective
price elasticity
18. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
convenience product
motivation
emergency product
involvment
19. Tohose whose adoption to a new product signals a general acceptance of the innovation
early majority
venture teams
portfolio management
competitive effect objective
20. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
bait and switch
cumulative quantity discounts
reference group
brand extension
21. An internal state that drives us to satisfy needs by activating goal-oriented behavior
family brand
social class
motivation
random factor analysis
22. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
predatory pricing
stimulus generalization
brand manager
sales forecast
23. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
self-concept
product market
fixed costs
profit objective
24. Moral standards that guide marketing decisions and actions
marketing ethics
trend analysis
core product
variable costs
25. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
consumer behavior
customer satisfaction objective
maturity stage
licensing
26. The practice of setting a limited number of different specific prices - called price points - for items in a product line
price lining
loss-leader pricing
personality
brand extension
27. 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
perceived risk
maintenance - repair - and operating products
classical conditioning
price bundling
28. Refers to the generation born immediately following the baby boom - from 1965-1977
list price
gen x
real income
generic marketing
29. People born between 1946 and 1964
market
baby boomers
experimental pricing
freight absorption pricing
30. A homogeneous group of customers who will respond to a marketing mix in a similiar way
multicultural marketing
nondurable goods
market segment
subculture
31. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
raw materials
service encounter
metropolitan statistical area (msa)
internal reference price
32. Products that consumers purchase to signal membership in a desirable social class
introduction
status symbols
metropolitan statistical area (msa)
judgment
33. Pricing that is intended to maximize customer satisfaction and retention
customer satisfaction objective
seasonal analysis
strategic business unit sbu
brand
34. People over 65
competitive advantage
early adopters
fast-moving consumer goods
senior citizens
35. The collaboration of two or more firms in setting prices - usually to keep prices high
online auctions
price maintenance
f.o.b. delivered pricing
clustering techniques
36. When a percentage change in price results in a smaller percentage change in the quantity demanded
target costing
brand manager
single target market approach
price inelastic
37. The loss of sales of an existing product when a new item in a product line or product family is introduced
cannibalization
clickstream analysis
regression analysis
price bundling
38. A pricing tactic of charging reduced prices for larger quantities of product
inelastic demand
quantity discounts
yield-management pricing
product life cycle
39. 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
target market
skimming price
social class
cognitive dissonance
40. Expensive goods that an organization uses in its daily operations that last for a long time
equipment
determining dimensions
captive pricing
learning
41. Brands that the manufacturer of the product owns
national or manufacturer brands
discontinuous innovation
learning
brand extension
42. Combining two or more submarkets into one larger target market as a basis for one strategy
combined market approach
penetration strategy
strategic business unit sbu
operant conditioning
43. Pricing products with a focus on a target level of profit growth or a desired net profit margin
portfolio management
profit objective
cumulative quantity discounts
cognitive learning theory
44. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
lifestyle
online auctions
motivation
fixed costs
45. The percentage change in unit sales that results from a percentage change in price
late majority
umbrella pricing
price elasticity
heuristics
46. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
fixed costs
brand extension
freight absorption pricing
47. A pricing strategy that considers the lifetime cost of using the product
determining dimensions
brand
cost of ownership
multiple target market approach
48. An agreement between two brands to work together in marketing new or existing products
price
consumer satisfaction/dissatisfiaction
innovators
co-branding
49. The pricing strategy of setting prices below cost to attract customers into a store
random factor analysis
loss-leader pricing
competitive effect objective
mass marketing
50. Pricing intended to establish a desired image or positioning to prospective customers
trade or functional discounts
culture
actual product
image enhancement objective