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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. The values - beliefs - customs - and tastes that a group of people value
random factor analysis
brand
quantity discounts
culture
2. A flexible pricing strategy that reflects what individual customers are willing to pay
demand curve
laggards
variable pricing
stimulus generalization
3. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
expert forecasting survey
empty nesters
price leadership (follower)
image enhancement objective
4. The belief that use of a product has potentially negative consequences - either financial - physical or social
market information function
combiners
perceived risk
family life cycle
5. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
determining dimensions
uniform delivered pricing
price discrimination
sales force forecasting survey
6. A firm's total product offering designed to satisfy a single need or desire of target customers
senior citizens
product line
price elastic
non-cumulative quantity discounts
7. People over 65
senior citizens
behavioral learning theories
qualifying dimensions
personality
8. An internal state that drives us to satisfy needs by activating goal-oriented behavior
test marketing
customer forecasting survey
executive judgement
motivation
9. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top
hierarchy of needs
internal reference price
tipping point
price lining
10. Products we purchase when we're in dire need
bait and switch
emergency product
random factor analysis
price bundling
11. A product people often buy on the spur of the moment
generic marketing
trademark
customer satisfaction
impulse product
12. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production
regression analysis
new product failure
fast-moving consumer goods
price-floor pricing
13. Pricing that is intended to have an effect on the marketing efforts of the competition
combiners
sex roles
competitive effect objective
combined market approach
14. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
evaluative criteria
non-cumulative quantity discounts
raw materials
dynamic pricing
15. Learning that occurs as the result of rewards of punishments
operant conditioning
seasonal analysis
demand curve
convenience product
16. A new product that copies with slight modification the design of an original product
learning
determining dimensions
knock-off
introduction
17. Segmenting the market and picking one of the homogeneous segments as the firms target market
market test
single target market approach
dynamically continuous innovation
component parts
18. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
micromarketing
target marketing
inelastic demand
trial pricing
19. A strategy of frequently using sale prices to increase sales volume
price maintenance
benefit segmentation
frequent discounting
equipment
20. The psychological characteristics that consistently influence the way a person responds to situations in the environment
personality
involvment
cognitive dissonance
product adoption
21. Products that exhibit consistently high velocity sales in the consumer marketplace
growth stage
specialty products
fast-moving consumer goods
early adopters
22. A relatively permanent change in behavior caused by acquired information or experience
bid riggin
customer satisfaction objective
service encounter
learning
23. A pricing tactic in which customers in different geographic zones pay different transportation rates
hierarchy of needs
product adoption
zone pricing
consumer satisfaction/dissatisfiaction
24. A strategy of ducking under a competitor's price by a fixed percentage
penetration strategy
nondurable goods
umbrella pricing
evaluative criteria
25. The relative importance of perceived consequences of the purchase to a consumer
time-series analysis
maturity stage
bartering
involvment
26. Tangible products we can see - touch - smell - hear - taste
perception
goods
consumer behavior
opinion leader
27. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
heuristics
bid riggin
frequent discounting
stimulus generalization
28. The regret or remorse buyers may feel after making a purchase
multicultural marketing
cognitive dissonance
early majority
quantity discounts
29. 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
list price
expert forecasting survey
target marketing
30. The practice of exchanging a good or service for another good or service of like value
cumulative quantity discounts
expert forecasting survey
bartering
sex roles
31. 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
variable costs
bid riggin
sales forecast
32. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
switching costs
brand extension
judgment
yield-management pricing
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
trial pricing
captive pricing
involvment
behavioral learning theories
34. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
brand equity
core product
macro marketing
product adoption
35. 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
pure subsistence economy
culture
raw materials
f.o.b. delivered pricing
36. Those that actually affect the customers purchase of specific product or brand in a product market
venture teams
senior citizens
determining dimensions
combiners
37. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
price subsidies
reference group
augmented product
product category manager
38. Expensive goods that an organization uses in its daily operations that last for a long time
durable goods
market
target costing
equipment
39. Extent to which a firm fulfills a customers needs - desires - and expectations
customer satisfaction
venture teams
maturity stage
product market
40. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
benefit segmentation
product market
mass marketing
target marketing
41. A totally new product that creates major changes in the way we live
reference group
tipping point
price bundling
discontinuous innovation
42. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
market test
new product failure
product market
social class
43. The last consumers to adopt the innovation
price inelastic
laggards
raw materials
price leadership (follower)
44. A brand that a group of individual products or individual brands share
bartering
family brand
continous innovation
freight absorption pricing
45. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
strategic business unit sbu
actual product
consumer behavior
target marketing
46. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
breakthrough opportunities
qualifying dimensions
customer forecasting survey
metropolitan statistical area (msa)
47. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
consumer-to-consumer e-commerce
pure subsistence economy
reciprocity
staples
48. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
staples
freight absorption pricing
multicultural marketing
opportunity cost
49. A fairly homogeneous group of customers to whom a company wishes to appeal
brand manager
target market
online auctions
impulse product
50. Discounts based only on the quantity purchased in individual orders
price discrimination
learning
non-cumulative quantity discounts
real income