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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. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
early majority
consumer satisfaction/dissatisfiaction
diffusion
introduction
2. Number of babies born per 1000 people fluctuated greatly in last 65 years
information search
innovation
birthrate
unsought products
3. The process of eliminating interaction between customers and service providers
portfolio management
augmented product
price inelastic
disintermediation
4. A fairly homogeneous group of customers to whom a company wishes to appeal
value pricing everyday low-pricing
target market
heuristics
quantity discounts
5. A product people often buy on the spur of the moment
innovation
diffusion
generic marketing
impulse product
6. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
competitive advantage
online auctions
judgment
determining dimensions
7. The practice of exchanging a good or service for another good or service of like value
cost-plus pricing
zone pricing
competitive effect objective
bartering
8. Pricing intended to establish a desired image or positioning to prospective customers
brand
umbrella pricing
image enhancement objective
brand manager
9. The actual interaction between the customer and the service provider
service encounter
convenience product
qualifying dimensions
subculture
10. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
bid riggin
emergency product
discetionary income
strategic business unit sbu
11. 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
licensing
market segmentation
learning
fast-moving consumer goods
12. A pricing tactic in which customers in different geographic zones pay different transportation rates
zone pricing
Delphi technique
regression analysis
product adoption
13. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
price elasticity
component parts
price leadership (follower)
perceived risk
14. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
subculture
self-concept
cause-related marketing
hierarchy of needs
15. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
micromarketing
bid riggin
trademark
unsought products
16. An aggregating process - clustering people with similar needs into a "market segment"
product market
segmenting
loss-leader pricing
trial pricing
17. To try to increase the size of their target markets by combining two or more segments
SWOT analysis
seasonal analysis
combiners
target marketing
18. What is left after taxes
disposable income
captive pricing
judgment
operating costs
19. The strategy of selling products at unreasonably low prices to drive competitors out of business
stimulus generalization
predatory pricing
brand extension
early majority
20. 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
shopping product
test marketing
trademark
f.o.b. delivered pricing
21. The belief that use of a product has potentially negative consequences - either financial - physical or social
self-concept
trademark
perceived risk
hierarchy of needs
22. The difference between the cost of the product and the selling price of the product
product line
laggards
emergency product
margin
23. When a percentage change in price results in a larger percentage change in the quantity demanded
predatory pricing
status symbols
clustering techniques
price elastic
24. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
judgment
sales forecast
unsought products
national or manufacturer brands
25. 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 elastic
consideration set
variable costs
component parts
26. Refers to the generation born immediately following the baby boom - from 1965-1977
gen x
clustering techniques
motivation
early adopters
27. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
price lining
co-branding
lifestyle
shopping product
28. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
baby boomers
trademark
co-branding
product life cycle
29. A new product that copies with slight modification the design of an original product
knock-off
operant conditioning
price subsidies
pure subsistence economy
30. Those who adopt an innovation early in the diffusion process but later than the innovators
pure subsistence economy
early adopters
segmenting
disposable income
31. Products that exhibit consistently high velocity sales in the consumer marketplace
fast-moving consumer goods
cannibalization
price maintenance
portfolio management
32. Brands that the manufacturer of the product owns
birthrate
product category manager
price elastic
national or manufacturer brands
33. Selling two or more goods or services as a single package for one price
capacity management
frequent discounting
price bundling
f.o.b. origin pricing
34. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
family brand
penetration strategy
switching costs
market manager
35. A relatively permanent change in behavior caused by acquired information or experience
learning
bartering
frequent discounting
product adoption
36. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
sales forecast
growth stage
specialty products
maturity stage
37. A pricing strategy that considers the lifetime cost of using the product
specialty products
staples
cost of ownership
freight absorption pricing
38. A social process that directs an economy
macro marketing
generic marketing
product line
freight absorption pricing
39. Combining two or more submarkets into one larger target market as a basis for one strategy
target marketing
combined market approach
gen x
quantity discounts
40. A strategy of frequently using sale prices to increase sales volume
profit objective
gen x
core product
frequent discounting
41. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
bait and switch
SWOT analysis
consumer satisfaction/dissatisfiaction
core product
42. Communicating with large numbers of customers at the same time
yield-management pricing
classical conditioning
learning
mass selling
43. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
product category manager
raw materials
SWOT analysis
cause-related marketing
44. A manager who is responsible for developing and implementing the marketing plan for a single brand
cost-plus pricing
opinion leader
brand manager
captive pricing
45. The last consumers to adopt the innovation
motivation
self-concept
durable goods
laggards
46. Extent to which a firm fulfills a customers needs - desires - and expectations
customer satisfaction
predatory pricing
reference group
learning
47. A strategy of ducking under a competitor's price by a fixed percentage
umbrella pricing
regression analysis
demand-based pricing
brand extension
48. 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
inelastic demand
qualifying dimensions
sustainability
unsought products
49. 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
family brand
strategic business unit sbu
involvment
social class
50. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
non-cumulative quantity discounts
behavioral learning theories
perceived risk
sales forecast
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