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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 manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
cost-plus pricing
market manager
mass marketing
price elasticity
2. Pricing intended to establish a desired image or positioning to prospective customers
dynamically continuous innovation
staples
image enhancement objective
brand
3. A mental rule of thumb that leads to a speedy decision by simplifying the process
bid riggin
heuristics
early adopters
predatory pricing
4. A marketing mix is tailored to fit some specific target customers
price elasticity
target marketing
price lining
customer satisfaction objective
5. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
experimental pricing
subculture
behavioral learning theories
bait and switch
6. Selling two or more goods or services as a single package for one price
product category manager
early majority
price bundling
perception
7. A firm's total product offering designed to satisfy a single need or desire of target customers
innovation
product market
knock-off
product line
8. Charging a very high - premium price for a new product
information search
price maintenance
skimming price
cumulative quantity discounts
9. Refers to the generation born immediately following the baby boom - from 1965-1977
time-series analysis
early majority
gen x
fast-moving consumer goods
10. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
perceived risk
segments
target market
introduction
11. Pricing products with a focus on a target level of profit growth or a desired net profit margin
profit objective
loss-leader pricing
gen y
customer relationship management (crm)
12. 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
price
trademark
brand
conformity
13. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
regression analysis
generic marketing
trade or functional discounts
classical conditioning
14. The marketing mix is distinct from and better than what is available from a competitor
cognitive learning theory
differentation
non-cumulative quantity discounts
switching costs
15. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs
market
segments
trade or functional discounts
fast-moving consumer goods
16. To try to find similar patterns within sets of data
cause-related marketing
clustering techniques
gen y
umbrella pricing
17. Income that is adjusted to take out the effects of inflation on purchasing power
skimming price
real income
margin
inelastic demand
18. 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
sales force forecasting survey
information search
tipping point
bait and switch
19. Those who adopt an innovation early in the diffusion process but later than the innovators
variable pricing
brand extension
early adopters
price
20. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
dynamic pricing
profit objective
strategic business unit sbu
multicultural marketing
21. Moral standards that guide marketing decisions and actions
licensing
innovation
new product failure
marketing ethics
22. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
self-concept
stimulus generalization
laggards
durable goods
23. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
opportunity cost
expert forecasting survey
price discrimination
marketing ethics
24. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
f.o.b. origin pricing
product market
raw materials
discetionary income
25. An agreement between two brands to work together in marketing new or existing products
co-branding
non-cumulative quantity discounts
loss-leader pricing
cumulative quantity discounts
26. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses
brand extension
baby boomers
fast-moving consumer goods
time-series analysis
27. The belief that use of a product has potentially negative consequences - either financial - physical or social
price elasticity
venture teams
combined market approach
perceived risk
28. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
mass marketing
national or manufacturer brands
penetration strategy
price bundling
29. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
involvment
demand curve
market test
social class
30. Communicating with large numbers of customers at the same time
trademark
marketing ethics
Delphi technique
mass selling
31. When a percentage change in price results in a larger percentage change in the quantity demanded
price elastic
segmenting
seasonal analysis
universal functions of marketing
32. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
multiple target market approach
behavioral learning theories
sales force forecasting survey
core product
33. The relative importance of perceived consequences of the purchase to a consumer
baby boomers
cumulative quantity discounts
freight absorption pricing
involvment
34. A strategy of frequently using sale prices to increase sales volume
sex roles
lifestyle
portfolio management
frequent discounting
35. The difference between the cost of the product and the selling price of the product
early adopters
margin
equipment
staples
36. Brands that the manufacturer of the product owns
demand curve
brand
national or manufacturer brands
opportunity cost
37. Combining two or more submarkets into one larger target market as a basis for one strategy
maturity stage
variable pricing
combined market approach
f.o.b. origin pricing
38. Products we purchase when we're in dire need
culture
emergency product
experimental pricing
trial pricing
39. The actual interaction between the customer and the service provider
customer satisfaction objective
growth stage
service encounter
sustainability
40. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
market manager
cost-plus pricing
gen y
product life cycle
41. The process of eliminating interaction between customers and service providers
operating costs
consumer-to-consumer e-commerce
birthrate
disintermediation
42. What is left after taxes
consumer satisfaction/dissatisfiaction
bait and switch
disposable income
cause-related marketing
43. Group of people within an organization who focus exclusively on the development of a new product
regression analysis
lifestyle
customer relationship management (crm)
venture teams
44. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
umbrella pricing
metropolitan statistical area (msa)
bid riggin
variable costs
45. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
sex roles
licensing
random factor analysis
combined market approach
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
consideration set
classical conditioning
market information function
price-floor pricing
47. The dimensions that consumers use to compare completing product alternatives
cognitive learning theory
skimming price
equipment
evaluative criteria
48. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
raw materials
product category manager
innovators
brand equity
49. Extent to which a firm fulfills a customers needs - desires - and expectations
judgment
customer satisfaction
baby boomers
opinion leader
50. Tangible products we can see - touch - smell - hear - taste
consideration set
goods
f.o.b. origin pricing
market test