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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. Selling two or more goods or services as a single package for one price
mass selling
cumulative quantity discounts
disposable income
price bundling
2. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
target marketing
multicultural marketing
sustainability
generic marketing
3. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income
combined market approach
social class
brand extension
fixed costs
4. The value of a brand to an organization
value pricing everyday low-pricing
segmenting
brand equity
customer forecasting survey
5. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
micromarketing
breakthrough opportunities
product market
late majority
6. A pricing tactic of charging reduced prices for larger quantities of product
regression analysis
cause-related marketing
market test
quantity discounts
7. Pricing products with a focus on a target level of profit growth or a desired net profit margin
personality
predatory pricing
component parts
profit objective
8. The first segment (2.5%) of a population to adopt a new product
freight absorption pricing
conformity
innovators
loss-leader pricing
9. People born between 1946 and 1964
maintenance - repair - and operating products
attitude
baby boomers
switching costs
10. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
freight absorption pricing
lifestyle
introduction
operating costs
11. 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
real income
cognitive learning theory
market segmentation
pure subsistence economy
12. The value of something that is given up to obtain something else
actual product
dynamic pricing
f.o.b. delivered pricing
opportunity cost
13. 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
real income
Delphi technique
innovation
14. Group of people within an organization who focus exclusively on the development of a new product
actual product
personality
variable pricing
venture teams
15. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
variable costs
profit objective
random factor analysis
national or manufacturer brands
16. 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
co-branding
heuristics
captive pricing
target marketing
17. The division of a market according to benefits that consumers want from the product
benefit segmentation
service encounter
prestige pricing
margin
18. Pricing intended to establish a desired image or positioning to prospective customers
image enhancement objective
cannibalization
maturity stage
market
19. A firm's total product offering designed to satisfy a single need or desire of target customers
heuristics
product line
target marketing
maturity stage
20. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
knock-off
SWOT analysis
price
penetration strategy
21. 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
innovation
specialty products
price subsidies
predatory pricing
22. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
breakthrough opportunities
classical conditioning
birthrate
marketing ethics
23. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
price discrimination
opportunity cost
reference group
maintenance - repair - and operating products
24. A product that consumers perceive to be new and different form existing products
processed material
price inelastic
innovation
target costing
25. Pricing a new product low for a limited period of time to lower the risk for a customer
nondurable goods
fast-moving consumer goods
trial pricing
mass selling
26. A pricing tactic in which the seller absorbs the total cost of transportation
frequent discounting
freight absorption pricing
online auctions
perceived risk
27. A modification of an existing product that sets one brand apart from its competitors
early majority
continous innovation
dynamically continuous innovation
competitive advantage
28. Relevant to including a customer type in a product market
learning
maintenance - repair - and operating products
skimming price
qualifying dimensions
29. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
profit objective
sales force forecasting survey
reference group
expert forecasting survey
30. The relative importance of perceived consequences of the purchase to a consumer
late majority
variable pricing
involvment
brand extension
31. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
trade or functional discounts
SWOT analysis
random factor analysis
personality
32. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
conformity
regression analysis
capacity management
sustainability
33. The process of eliminating interaction between customers and service providers
cognitive dissonance
disintermediation
store or private-label brands
economics of scale
34. An integrated economic and social unit wit a large population nucleus
metropolitan statistical area (msa)
cumulative quantity discounts
birthrate
dynamically continuous innovation
35. Discounts based only on the quantity purchased in individual orders
executive judgement
regression analysis
non-cumulative quantity discounts
captive pricing
36. 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
market information function
price inelastic
cost of ownership
disposable income
37. A strategy of ducking under a competitor's price by a fixed percentage
breakthrough opportunities
family life cycle
umbrella pricing
information search
38. A relatively permanent change in behavior caused by acquired information or experience
quantity discounts
cognitive dissonance
learning
gen y
39. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
combiners
product adoption
stimulus generalization
impulse product
40. Charging a very high - premium price for a new product
sex roles
price inelastic
skimming price
maturity stage
41. The values - beliefs - customs - and tastes that a group of people value
reference group
market segment
culture
heuristics
42. 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
store or private-label brands
unsought products
decline stage
product adoption
43. What is left after taxes
involvment
umbrella pricing
disposable income
experimental pricing
44. A pricing tactic in which customers in different geographic zones pay different transportation rates
co-branding
self-concept
portfolio management
zone pricing
45. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
price-floor pricing
birthrate
test marketing
marketing ethics
46. Products that consumers purchase to signal membership in a desirable social class
target market
status symbols
sales force forecasting survey
product market
47. An internal state that drives us to satisfy needs by activating goal-oriented behavior
market manager
early adopters
clustering techniques
motivation
48. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
trade or functional discounts
list price
sex roles
random factor analysis
49. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
sustainability
empty nesters
regression analysis
consideration set
50. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
multiple target market approach
perception
consumer-to-consumer e-commerce
behavioral learning theories