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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. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
sales forecast
demand curve
trial pricing
product market
2. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
predatory pricing
single target market approach
generic marketing
universal functions of marketing
3. Those who adopt an innovation early in the diffusion process but later than the innovators
early adopters
reference group
mass marketing
lifestyle
4. Pricing intended to establish a desired image or positioning to prospective customers
trial pricing
nondurable goods
brand loyalty
image enhancement objective
5. 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
cognitive learning theory
senior citizens
gen y
capacity management
6. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
product market
price subsidies
clustering techniques
raw materials
7. The physical good or the delivered service that supplies the desired benefit
reference group
actual product
perception
combiners
8. Segmenting the market and picking one of the homogeneous segments as the firms target market
time-series analysis
culture
product life cycle
single target market approach
9. The strategy of selling products at unreasonably low prices to drive competitors out of business
staples
cumulative quantity discounts
predatory pricing
combined market approach
10. The psychological characteristics that consistently influence the way a person responds to situations in the environment
price discrimination
attitude
captive pricing
personality
11. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
SWOT analysis
clickstream analysis
conformity
portfolio management
12. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition
brand
family life cycle
yield-management pricing
early majority
13. A mental rule of thumb that leads to a speedy decision by simplifying the process
venture teams
penetration strategy
heuristics
augmented product
14. When a percentage change in price results in a smaller percentage change in the quantity demanded
price inelastic
bartering
baby boomers
executive judgement
15. A product people often buy on the spur of the moment
evaluative criteria
impulse product
sales forecast
sex roles
16. 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
f.o.b. origin pricing
differentation
quantity discounts
clustering techniques
17. A pricing tactic in which customers in different geographic zones pay different transportation rates
frequent discounting
pure subsistence economy
zone pricing
price maintenance
18. Extent to which a firm fulfills a customers needs - desires - and expectations
portfolio management
clickstream analysis
customer satisfaction
switching costs
19. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
price leadership (follower)
fixed costs
market segmentation
price-floor pricing
20. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
judgment
variable costs
augmented product
trial pricing
21. People over 65
hierarchy of needs
clustering techniques
core product
senior citizens
22. The values - beliefs - customs - and tastes that a group of people value
national or manufacturer brands
micromarketing
learning
culture
23. Refers to the generation born immediately following the baby boom - from 1965-1977
trademark
image enhancement objective
single target market approach
gen x
24. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
qualifying dimensions
maintenance - repair - and operating products
information search
demand-based pricing
25. All the benefits the product will provide for consumers or business customers
personality
core product
consumer-to-consumer e-commerce
test marketing
26. 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
cognitive dissonance
list price
competitive effect objective
27. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same
demand curve
augmented product
innovation
behavioral learning theories
28. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
discetionary income
new product failure
portfolio management
cycle analysis
29. Costs involved in using a product
perception
convenience product
operating costs
brand extension
30. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
disintermediation
quantity discounts
market segment
customer forecasting survey
31. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
product life cycle
dynamic pricing
yield-management pricing
test marketing
32. What is left after taxes
service encounter
maturity stage
disposable income
knock-off
33. The marketing mix is distinct from and better than what is available from a competitor
margin
differentation
segmenting
sex roles
34. A change in beliefs or actions as a reaction to real or imagined group pressure
sales forecast
fast-moving consumer goods
target marketing
conformity
35. A pricing strategy that considers the lifetime cost of using the product
new product failure
cost of ownership
customer satisfaction
universal functions of marketing
36. The process by which the use of a product spreads throughout the population
micromarketing
sustainability
diffusion
executive judgement
37. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
operating costs
variable pricing
maintenance - repair - and operating products
stimulus generalization
38. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
hierarchy of needs
experimental pricing
bid riggin
capacity management
39. The set of alternative brands the consumer is considering for the decision process
self-concept
trend analysis
internal reference price
consideration set
40. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
variable pricing
combiners
trend analysis
introduction
41. Number of babies born per 1000 people fluctuated greatly in last 65 years
processed material
birthrate
national or manufacturer brands
predatory pricing
42. A fairly homogeneous group of customers to whom a company wishes to appeal
micromarketing
brand loyalty
core product
target market
43. To try to find similar patterns within sets of data
captive pricing
price elasticity
clustering techniques
customer satisfaction objective
44. A relatively permanent change in behavior caused by acquired information or experience
durable goods
introduction
classical conditioning
learning
45. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
random factor analysis
brand extension
attitude
sales force forecasting survey
46. 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
value pricing everyday low-pricing
cost-plus pricing
service encounter
opportunity cost
47. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
market manager
heuristics
demand-based pricing
behavioral learning theories
48. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
sustainability
convenience product
trial pricing
sex roles
49. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
customer satisfaction
variable costs
target marketing
fixed costs
50. An arrangement unique to business marketing in which two organizations agree to buy from each other
SWOT analysis
price
regression analysis
reciprocity