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Test your basic knowledge |
Marketing Basics
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Study First
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. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
customer satisfaction objective
uniform delivered pricing
status symbols
universal functions of marketing
2. The collaboration of two or more firms in setting prices - usually to keep prices high
consideration set
innovation
price maintenance
real income
3. A situation in which an increase or a decrease in price will not significantly affect demand for the product
experimental pricing
inelastic demand
discetionary income
trade or functional discounts
4. The overall feelings or attitude a person has about a product after purchasing it
f.o.b. origin pricing
executive judgement
social class
consumer satisfaction/dissatisfiaction
5. Combining two or more submarkets into one larger target market as a basis for one strategy
product category manager
core product
cognitive learning theory
combined market approach
6. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
learning
market manager
maturity stage
clickstream analysis
7. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
brand
experimental pricing
product adoption
disintermediation
8. Brands that are owned and sold by a specific - retailer or distributor
service encounter
bait and switch
store or private-label brands
baby boomers
9. 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
staples
value pricing everyday low-pricing
market information function
goods
10. Moral standards that guide marketing decisions and actions
experimental pricing
sustainability
specialty products
marketing ethics
11. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
hierarchy of needs
augmented product
image enhancement objective
multicultural marketing
12. A manager who is responsible for developing and implementing the marketing plan for a single brand
operant conditioning
market information function
brand manager
raw materials
13. Discounts based only on the quantity purchased in individual orders
attitude
non-cumulative quantity discounts
portfolio management
competitive effect objective
14. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
SWOT analysis
market manager
micromarketing
operant conditioning
15. A new product sold with the same brand name as a strong existing brand
brand loyalty
quantity discounts
margin
brand extension
16. 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
f.o.b. delivered pricing
multicultural marketing
target costing
brand
17. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase
service encounter
product market
single target market approach
late majority
18. A fairly homogeneous group of customers to whom a company wishes to appeal
generic marketing
brand extension
target market
early majority
19. Costs of production that do not change with the number of units produced
expert forecasting survey
demand-based pricing
processed material
fixed costs
20. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
consumer-to-consumer e-commerce
processed material
yield-management pricing
product life cycle
21. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
behavioral learning theories
random factor analysis
lifestyle
qualifying dimensions
22. 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
consumer behavior
disposable income
market segmentation
23. 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
portfolio management
metropolitan statistical area (msa)
competitive advantage
24. A pricing strategy in which a firm sets prices that provide ultimate value to customers
online auctions
demand curve
value pricing everyday low-pricing
status symbols
25. Products that consumers purchase to signal membership in a desirable social class
variable pricing
late majority
seasonal analysis
status symbols
26. A pricing tactic in which the seller absorbs the total cost of transportation
nondurable goods
freight absorption pricing
multicultural marketing
growth stage
27. Refers to the generation born immediately following the baby boom - from 1965-1977
variable costs
time-series analysis
gen x
f.o.b. origin pricing
28. A marketing mix is tailored to fit some specific target customers
competitive effect objective
self-concept
combined market approach
target marketing
29. A homogeneous group of customers who will respond to a marketing mix in a similiar way
conformity
market segment
regression analysis
target costing
30. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
breakthrough opportunities
evaluative criteria
price lining
customer satisfaction objective
31. 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
online auctions
micromarketing
gen y
f.o.b. delivered pricing
32. Products that exhibit consistently high velocity sales in the consumer marketplace
price discrimination
fast-moving consumer goods
senior citizens
licensing
33. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item
mass marketing
self-concept
perceived risk
captive pricing
34. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
shopping product
market segment
price elastic
raw materials
35. What is left after taxes
disposable income
competitive advantage
prestige pricing
stimulus generalization
36. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
discontinuous innovation
licensing
growth stage
trademark
37. A mental rule of thumb that leads to a speedy decision by simplifying the process
heuristics
emergency product
culture
new product failure
38. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief
price subsidies
differentation
strategic business unit sbu
market information function
39. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country
trademark
target market
trend analysis
brand
40. The process by which the use of a product spreads throughout the population
diffusion
single target market approach
target market
universal functions of marketing
41. The value of something that is given up to obtain something else
price discrimination
target costing
opportunity cost
umbrella pricing
42. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
benefit segmentation
customer satisfaction objective
mass marketing
customer relationship management (crm)
43. 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
time-series analysis
market segmentation
cognitive learning theory
multicultural marketing
44. An integrated economic and social unit wit a large population nucleus
cost of ownership
freight absorption pricing
metropolitan statistical area (msa)
variable costs
45. Selling two or more goods or services as a single package for one price
empty nesters
price bundling
consumer behavior
opinion leader
46. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
behavioral learning theories
perception
trend analysis
processed material
47. The process by which organization adjust their offering in an attempt to match demand
capacity management
customer relationship management (crm)
family life cycle
qualifying dimensions
48. Pricing products to maximize sales or to attain a desired level of sales or market share
non-cumulative quantity discounts
staples
motivation
sales or market share objective
49. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item
bait and switch
pure subsistence economy
national or manufacturer brands
birthrate
50. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
market manager
uniform delivered pricing
disposable income
consideration set
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