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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 method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
quantity discounts
regression analysis
maintenance - repair - and operating products
prestige pricing
2. A change in beliefs or actions as a reaction to real or imagined group pressure
product category manager
predatory pricing
conformity
brand equity
3. Goods that a business customer consumes in a relatively short time
product line
operating costs
senior citizens
maintenance - repair - and operating products
4. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
economics of scale
price
stimulus generalization
augmented product
5. A fairly homogeneous group of customers to whom a company wishes to appeal
new product failure
target market
multicultural marketing
dynamically continuous innovation
6. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
combiners
executive judgement
cost-plus pricing
sales forecast
7. The actual interaction between the customer and the service provider
bartering
judgment
gen x
service encounter
8. The set of alternative brands the consumer is considering for the decision process
f.o.b. delivered pricing
consideration set
price subsidies
sales or market share objective
9. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
customer forecasting survey
trend analysis
impulse product
price
10. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
trial pricing
cycle analysis
seasonal analysis
image enhancement objective
11. The value of something that is given up to obtain something else
product life cycle
family brand
venture teams
opportunity cost
12. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
price-floor pricing
uniform delivered pricing
specialty products
target costing
13. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
variable costs
cycle analysis
laggards
sustainability
14. A marketing mix is tailored to fit some specific target customers
product market
innovation
target marketing
market segment
15. The practice of exchanging a good or service for another good or service of like value
inelastic demand
dynamic pricing
brand equity
bartering
16. Tangible products we can see - touch - smell - hear - taste
strategic business unit sbu
goods
inelastic demand
loss-leader pricing
17. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
innovation
senior citizens
product life cycle
inelastic demand
18. Costs involved in moving from one brand to another
real income
switching costs
trial pricing
maintenance - repair - and operating products
19. Combining two or more submarkets into one larger target market as a basis for one strategy
combined market approach
mass selling
target marketing
experimental pricing
20. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
price subsidies
mass marketing
augmented product
competitive effect objective
21. People over 65
price discrimination
personality
senior citizens
brand loyalty
22. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
price
trend analysis
product adoption
actual product
23. The division of a market according to benefits that consumers want from the product
competitive advantage
empty nesters
zone pricing
benefit segmentation
24. An internal state that drives us to satisfy needs by activating goal-oriented behavior
loss-leader pricing
empty nesters
segmenting
motivation
25. Brands that the manufacturer of the product owns
continous innovation
augmented product
senior citizens
national or manufacturer brands
26. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
behavioral learning theories
cumulative quantity discounts
motivation
bid riggin
27. 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
brand extension
unsought products
price lining
experimental pricing
28. Refers to the generation born immediately following the baby boom - from 1965-1977
test marketing
gen x
classical conditioning
brand loyalty
29. The loss of sales of an existing product when a new item in a product line or product family is introduced
cannibalization
generic marketing
penetration strategy
operating costs
30. The process by which the use of a product spreads throughout the population
dynamically continuous innovation
diffusion
customer forecasting survey
augmented product
31. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes
SWOT analysis
market segmentation
service encounter
social class
32. A new product sold with the same brand name as a strong existing brand
brand extension
price lining
bid riggin
regression analysis
33. A modification of an existing product that sets one brand apart from its competitors
early adopters
predatory pricing
continous innovation
segments
34. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
market test
metropolitan statistical area (msa)
discontinuous innovation
single target market approach
35. 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
marketing ethics
decline stage
competitive effect objective
cognitive learning theory
36. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
status symbols
consumer behavior
price elasticity
combiners
37. An integrated economic and social unit wit a large population nucleus
dynamically continuous innovation
market segmentation
demand curve
metropolitan statistical area (msa)
38. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
sales force forecasting survey
multiple target market approach
innovators
micromarketing
39. An organizational unit that focuses on some product markets and is treated as a separate profit center
strategic business unit sbu
family life cycle
switching costs
consumer satisfaction/dissatisfiaction
40. The process by which people select - organize - and interpret information form the outside world
perception
augmented product
mass selling
price leadership (follower)
41. Products that consumers purchase to signal membership in a desirable social class
status symbols
venture teams
reciprocity
consumer behavior
42. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue
consumer satisfaction/dissatisfiaction
clickstream analysis
status symbols
Delphi technique
43. Pricing that is intended to maximize customer satisfaction and retention
information search
market manager
customer satisfaction objective
captive pricing
44. 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
mass selling
demand curve
laggards
economics of scale
45. A means of measuring a website's success by tracking customers' movement around the company website
clickstream analysis
processed material
market information function
frequent discounting
46. 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
experimental pricing
classical conditioning
product life cycle
market test
47. A manager who is responsible for developing and implementing the marketing plan for a single brand
brand manager
attitude
innovators
segments
48. When each family unit produces everything it consumes
bartering
pure subsistence economy
portfolio management
growth stage
49. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
market manager
tipping point
product category manager
licensing
50. When a percentage change in price results in a larger percentage change in the quantity demanded
real income
price elastic
knock-off
consumer satisfaction/dissatisfiaction