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Test your basic knowledge |
Marketing Basics
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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. A change in beliefs or actions as a reaction to real or imagined group pressure
customer satisfaction
price leadership (follower)
brand
conformity
2. A strategy of ducking under a competitor's price by a fixed percentage
venture teams
product category manager
economics of scale
umbrella pricing
3. Goods that a business customer consumes in a relatively short time
maintenance - repair - and operating products
regression analysis
trial pricing
mass marketing
4. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
product life cycle
micromarketing
judgment
consumer-to-consumer e-commerce
5. An integrated economic and social unit wit a large population nucleus
non-cumulative quantity discounts
clustering techniques
metropolitan statistical area (msa)
SWOT analysis
6. Products created when firms transform raw materials from their original state
bid riggin
processed material
social class
price elasticity
7. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
internal reference price
trend analysis
convenience product
mass marketing
8. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition
economics of scale
reference group
brand loyalty
learning
9. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
uniform delivered pricing
yield-management pricing
classical conditioning
behavioral learning theories
10. Selling two or more goods or services as a single package for one price
benefit segmentation
determining dimensions
price bundling
executive judgement
11. An arrangement unique to business marketing in which two organizations agree to buy from each other
growth stage
reciprocity
segmenting
regression analysis
12. The strategy of selling products at unreasonably low prices to drive competitors out of business
baby boomers
cannibalization
predatory pricing
product market
13. A means of characterizing consumers based on the different family stages they pass through as they grow older
online auctions
portfolio management
gen x
family life cycle
14. 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
cannibalization
price-floor pricing
customer forecasting survey
penetration strategy
15. 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
opinion leader
target marketing
price subsidies
benefit segmentation
16. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
strategic business unit sbu
penetration strategy
profit objective
lifestyle
17. A pricing tactic in which the seller absorbs the total cost of transportation
internal reference price
loss-leader pricing
freight absorption pricing
cost of ownership
18. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same
price discrimination
demand curve
mass marketing
market segment
19. Pricing intended to establish a desired image or positioning to prospective customers
market test
core product
evaluative criteria
image enhancement objective
20. All the benefits the product will provide for consumers or business customers
core product
opportunity cost
capacity management
market information function
21. 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
licensing
customer satisfaction objective
bid riggin
time-series analysis
22. Sales forecasting based on the intuition of one or more executives
competitive advantage
price elastic
umbrella pricing
executive judgement
23. 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
innovation
market test
online auctions
social class
24. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
SWOT analysis
disposable income
expert forecasting survey
regression analysis
25. Learning that occurs as the result of rewards of punishments
frequent discounting
culture
operant conditioning
target costing
26. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
behavioral learning theories
processed material
lifestyle
predatory pricing
27. Those who adopt an innovation early in the diffusion process but later than the innovators
consumer-to-consumer e-commerce
early adopters
customer forecasting survey
growth stage
28. To try to find similar patterns within sets of data
new product failure
margin
clustering techniques
customer forecasting survey
29. When a percentage change in price results in a smaller percentage change in the quantity demanded
demand curve
price inelastic
target marketing
diffusion
30. 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
cognitive learning theory
multicultural marketing
predatory pricing
senior citizens
31. People born between 1946 and 1964
prestige pricing
emergency product
baby boomers
image enhancement objective
32. 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
learning
reciprocity
Delphi technique
prestige pricing
33. The values - beliefs - customs - and tastes that a group of people value
culture
venture teams
executive judgement
switching costs
34. People over 65
durable goods
senior citizens
metropolitan statistical area (msa)
hierarchy of needs
35. Tangible products we can see - touch - smell - hear - taste
goods
culture
price elasticity
captive pricing
36. Tohose whose adoption to a new product signals a general acceptance of the innovation
product line
early majority
consumer-to-consumer e-commerce
multiple target market approach
37. The first segment (2.5%) of a population to adopt a new product
mass marketing
innovators
product market
learning
38. The practice of exchanging a good or service for another good or service of like value
test marketing
economics of scale
bartering
introduction
39. An organizational unit that focuses on some product markets and is treated as a separate profit center
motivation
strategic business unit sbu
national or manufacturer brands
skimming price
40. The practice of setting a limited number of different specific prices - called price points - for items in a product line
time-series analysis
price lining
zone pricing
licensing
41. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
raw materials
price elasticity
macro marketing
generic marketing
42. An internal state that drives us to satisfy needs by activating goal-oriented behavior
motivation
brand extension
maturity stage
macro marketing
43. What is left of disposable income after paying for necessities
market information function
discetionary income
mass selling
staples
44. A social process that directs an economy
list price
perception
macro marketing
shopping product
45. A pricing strategy that considers the lifetime cost of using the product
tipping point
customer forecasting survey
cost of ownership
decline stage
46. When a percentage change in price results in a larger percentage change in the quantity demanded
brand
price elastic
brand extension
family brand
47. Pricing a new product low for a limited period of time to lower the risk for a customer
cycle analysis
trial pricing
pure subsistence economy
raw materials
48. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
family life cycle
co-branding
augmented product
baby boomers
49. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
disintermediation
loss-leader pricing
trade or functional discounts
decline stage
50. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline
motivation
tipping point
qualifying dimensions
diffusion
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