SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
gen y
random factor analysis
sales forecast
frequent discounting
2. The dimensions that consumers use to compare completing product alternatives
cumulative quantity discounts
hierarchy of needs
evaluative criteria
augmented product
3. A situation in which an increase or a decrease in price will not significantly affect demand for the product
inelastic demand
national or manufacturer brands
stimulus generalization
internal reference price
4. People whose children are grown and who are now able to spend their money in other ways
brand equity
decline stage
empty nesters
multicultural marketing
5. People born between 1946 and 1964
processed material
baby boomers
gen y
demand curve
6. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
growth stage
freight absorption pricing
real income
customer forecasting survey
7. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes
growth stage
market segmentation
marketing ethics
product adoption
8. 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
demand curve
reference group
switching costs
brand manager
9. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer
decline stage
variable pricing
mass selling
f.o.b. origin pricing
10. 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
innovators
real income
pure subsistence economy
11. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
culture
product market
lifestyle
attitude
12. An arrangement unique to business marketing in which two organizations agree to buy from each other
sustainability
bait and switch
discontinuous innovation
reciprocity
13. The process by which people select - organize - and interpret information form the outside world
cycle analysis
perception
price bundling
raw materials
14. A mental rule of thumb that leads to a speedy decision by simplifying the process
sex roles
core product
heuristics
early majority
15. E-commerce that allows shoppers to purchase products through online bidding
specialty products
online auctions
qualifying dimensions
laggards
16. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
operating costs
cost-plus pricing
innovators
yield-management pricing
17. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
continous innovation
late majority
bid riggin
demand curve
18. Brands that the manufacturer of the product owns
decline stage
real income
national or manufacturer brands
maturity stage
19. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
component parts
macro marketing
consumer-to-consumer e-commerce
economics of scale
20. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories
opinion leader
variable pricing
service encounter
value pricing everyday low-pricing
21. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
shopping product
goods
sales forecast
product life cycle
22. A flexible pricing strategy that reflects what individual customers are willing to pay
variable pricing
margin
impulse product
regression analysis
23. 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
dynamically continuous innovation
durable goods
tipping point
price elastic
24. Costs involved in moving from one brand to another
motivation
switching costs
price elastic
cost of ownership
25. The actual interaction between the customer and the service provider
experimental pricing
hierarchy of needs
service encounter
trademark
26. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
competitive effect objective
expert forecasting survey
maturity stage
zone pricing
27. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
profit objective
sex roles
laggards
market segment
28. What is left after taxes
laggards
market manager
clustering techniques
disposable income
29. The overall feelings or attitude a person has about a product after purchasing it
target costing
disintermediation
durable goods
consumer satisfaction/dissatisfiaction
30. An agreement between two brands to work together in marketing new or existing products
maturity stage
umbrella pricing
micromarketing
co-branding
31. The collaboration of two or more firms in setting prices - usually to keep prices high
sales or market share objective
augmented product
price maintenance
opinion leader
32. A new product that does not reach expectations for success - failing to reach sales objectives set
cost of ownership
opportunity cost
new product failure
impulse product
33. Communicating with large numbers of customers at the same time
mass marketing
discetionary income
variable costs
mass selling
34. 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
social class
target costing
stimulus generalization
Delphi technique
35. Group of people within an organization who focus exclusively on the development of a new product
reference group
reciprocity
venture teams
competitive advantage
36. A means of characterizing consumers based on the different family stages they pass through as they grow older
family life cycle
impulse product
specialty products
price maintenance
37. A means of measuring a website's success by tracking customers' movement around the company website
equipment
clickstream analysis
fixed costs
tipping point
38. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
sales force forecasting survey
self-concept
target costing
SWOT analysis
39. The price the end customer is expected to pay as determined by the manufacturer
list price
heuristics
personality
component parts
40. To try to find similar patterns within sets of data
emergency product
mass selling
gen y
clustering techniques
41. What is left of disposable income after paying for necessities
discetionary income
strategic business unit sbu
equipment
social class
42. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
price inelastic
metropolitan statistical area (msa)
product adoption
margin
43. Brands that are owned and sold by a specific - retailer or distributor
skimming price
segments
store or private-label brands
disposable income
44. A modification of an existing product that sets one brand apart from its competitors
judgment
image enhancement objective
subculture
continous innovation
45. The relative importance of perceived consequences of the purchase to a consumer
involvment
trademark
clustering techniques
laggards
46. 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
value pricing everyday low-pricing
captive pricing
clickstream analysis
price elastic
47. Number of babies born per 1000 people fluctuated greatly in last 65 years
birthrate
maturity stage
co-branding
discetionary income
48. When a percentage change in price results in a smaller percentage change in the quantity demanded
emergency product
information search
consideration set
price inelastic
49. Pricing a new product low for a limited period of time to lower the risk for a customer
early adopters
price elasticity
trial pricing
co-branding
50. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
non-cumulative quantity discounts
penetration strategy
price bundling
cycle analysis