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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. Sales forecasting based on the intuition of one or more executives
executive judgement
classical conditioning
variable costs
trademark
2. When each family unit produces everything it consumes
pure subsistence economy
time-series analysis
demand-based pricing
multicultural marketing
3. An arrangement unique to business marketing in which two organizations agree to buy from each other
reciprocity
frequent discounting
price-floor pricing
fast-moving consumer goods
4. The pricing strategy of setting prices below cost to attract customers into a store
disposable income
loss-leader pricing
sales force forecasting survey
operating costs
5. 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
customer satisfaction
raw materials
qualifying dimensions
Delphi technique
6. What is left of disposable income after paying for necessities
discetionary income
processed material
actual product
price inelastic
7. Products that exhibit consistently high velocity sales in the consumer marketplace
price subsidies
fast-moving consumer goods
price elasticity
captive pricing
8. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
market test
time-series analysis
executive judgement
early adopters
9. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
senior citizens
mass marketing
inelastic demand
multicultural marketing
10. A change in beliefs or actions as a reaction to real or imagined group pressure
competitive effect objective
consumer behavior
conformity
real income
11. 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
umbrella pricing
price subsidies
time-series analysis
opportunity cost
12. Tangible products we can see - touch - smell - hear - taste
goods
market
knock-off
capacity management
13. The process by which people select - organize - and interpret information form the outside world
generic marketing
product line
late majority
perception
14. 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
sustainability
pure subsistence economy
specialty products
15. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
combined market approach
macro marketing
cycle analysis
price subsidies
16. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
trend analysis
nondurable goods
impulse product
price elasticity
17. A new product sold with the same brand name as a strong existing brand
disposable income
reference group
inelastic demand
brand extension
18. The loss of sales of an existing product when a new item in a product line or product family is introduced
cannibalization
target costing
brand equity
expert forecasting survey
19. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
frequent discounting
consumer-to-consumer e-commerce
universal functions of marketing
price
20. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
multiple target market approach
seasonal analysis
cost-plus pricing
yield-management pricing
21. A manager who is responsible for developing and implementing the marketing plan for a single brand
tipping point
clickstream analysis
hierarchy of needs
brand manager
22. People born between 1946 and 1964
profit objective
lifestyle
early adopters
baby boomers
23. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
actual product
heuristics
price leadership (follower)
segments
24. The actual interaction between the customer and the service provider
SWOT analysis
growth stage
nondurable goods
service encounter
25. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
price bundling
cognitive dissonance
yield-management pricing
judgment
26. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
augmented product
empty nesters
price-floor pricing
variable costs
27. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
stimulus generalization
brand
captive pricing
diffusion
28. The values - beliefs - customs - and tastes that a group of people value
culture
cannibalization
evaluative criteria
senior citizens
29. A pricing tactic in which the seller absorbs the total cost of transportation
quantity discounts
motivation
freight absorption pricing
customer forecasting survey
30. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
value pricing everyday low-pricing
consumer-to-consumer e-commerce
price maintenance
product life cycle
31. Basic or necessary items that are available almost everywhere
test marketing
perception
umbrella pricing
staples
32. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
margin
status symbols
operating costs
bid riggin
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
clustering techniques
raw materials
captive pricing
attitude
34. 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
disposable income
information search
growth stage
35. A totally new product that creates major changes in the way we live
continous innovation
market
introduction
discontinuous innovation
36. A pricing tactic of charging reduced prices for larger quantities of product
quantity discounts
diffusion
reciprocity
target marketing
37. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
uniform delivered pricing
baby boomers
store or private-label brands
sustainability
38. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
reciprocity
late majority
experimental pricing
39. Refers to the generation born immediately following the baby boom - from 1965-1977
personality
marketing ethics
gen x
trademark
40. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
self-concept
service encounter
learning
clickstream analysis
41. Income that is adjusted to take out the effects of inflation on purchasing power
universal functions of marketing
real income
test marketing
early majority
42. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
lifestyle
brand
internal reference price
umbrella pricing
43. Expensive goods that an organization uses in its daily operations that last for a long time
bid riggin
mass selling
empty nesters
equipment
44. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
differentation
market manager
empty nesters
unsought products
45. 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
price-floor pricing
product market
empty nesters
consumer satisfaction/dissatisfiaction
46. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
shopping product
breakthrough opportunities
convenience product
birthrate
47. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
test marketing
actual product
price elastic
augmented product
48. 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
multiple target market approach
licensing
breakthrough opportunities
regression analysis
49. Those that actually affect the customers purchase of specific product or brand in a product market
consideration set
determining dimensions
market test
price discrimination
50. Relevant to including a customer type in a product market
qualifying dimensions
self-concept
emergency product
laggards