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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
behavioral learning theories
dynamic pricing
value pricing everyday low-pricing
executive judgement
2. The process by which organization adjust their offering in an attempt to match demand
cumulative quantity discounts
value pricing everyday low-pricing
capacity management
test marketing
3. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
specialty products
decline stage
consumer behavior
price elastic
4. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
portfolio management
market manager
attitude
price maintenance
5. 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
late majority
price subsidies
random factor analysis
opportunity cost
6. Pricing a new product low for a limited period of time to lower the risk for a customer
f.o.b. origin pricing
breakthrough opportunities
prestige pricing
trial pricing
7. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
dynamic pricing
information search
cannibalization
product life cycle
8. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
competitive advantage
market test
evaluative criteria
innovators
9. 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
demand curve
information search
social class
price leadership (follower)
10. Number of babies born per 1000 people fluctuated greatly in last 65 years
clustering techniques
perception
birthrate
innovators
11. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit
cost-plus pricing
brand extension
generic marketing
impulse product
12. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
conformity
target marketing
profit objective
reference group
13. Communicating with large numbers of customers at the same time
product line
mass selling
disintermediation
clickstream analysis
14. A brand that a group of individual products or individual brands share
family brand
f.o.b. delivered pricing
judgment
market segment
15. 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
uniform delivered pricing
maturity stage
clustering techniques
16. Pricing that is intended to have an effect on the marketing efforts of the competition
evaluative criteria
target market
combined market approach
competitive effect objective
17. A price-setting method based on estimated of demand at different prices
metropolitan statistical area (msa)
product market
demand-based pricing
operant conditioning
18. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
bait and switch
single target market approach
SWOT analysis
personality
19. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri
opinion leader
trial pricing
senior citizens
target costing
20. The price the end customer is expected to pay as determined by the manufacturer
list price
social class
lifestyle
price-floor pricing
21. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
differentation
brand equity
sales force forecasting survey
baby boomers
22. Those that actually affect the customers purchase of specific product or brand in a product market
determining dimensions
multicultural marketing
internal reference price
sustainability
23. A pricing strategy in which a firm sets prices that provide ultimate value to customers
price discrimination
laggards
freight absorption pricing
value pricing everyday low-pricing
24. 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
clustering techniques
pure subsistence economy
profit objective
tipping point
25. A strategy of frequently using sale prices to increase sales volume
frequent discounting
new product failure
target costing
information search
26. A pricing tactic of charging reduced prices for larger quantities of product
price bundling
time-series analysis
margin
quantity discounts
27. Brands that are owned and sold by a specific - retailer or distributor
market segment
store or private-label brands
core product
non-cumulative quantity discounts
28. Products we purchase when we're in dire need
price lining
emergency product
price bundling
SWOT analysis
29. 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
continous innovation
captive pricing
list price
sales or market share objective
30. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
discontinuous innovation
augmented product
licensing
personality
31. The seller fine tunes the marketing effort with info from a detailed customer database
augmented product
demand curve
cognitive dissonance
customer relationship management (crm)
32. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
online auctions
component parts
judgment
test marketing
33. Pricing that is intended to maximize customer satisfaction and retention
involvment
lifestyle
customer satisfaction objective
price inelastic
34. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
yield-management pricing
lifestyle
evaluative criteria
clickstream analysis
35. Charging a very high - premium price for a new product
national or manufacturer brands
skimming price
umbrella pricing
price discrimination
36. The actual interaction between the customer and the service provider
experimental pricing
f.o.b. delivered pricing
discetionary income
service encounter
37. What is left after taxes
disposable income
mass selling
processed material
margin
38. Moral standards that guide marketing decisions and actions
variable pricing
sales or market share objective
marketing ethics
venture teams
39. 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
price-floor pricing
sales forecast
sex roles
licensing
40. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
umbrella pricing
nondurable goods
component parts
raw materials
41. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
maturity stage
brand manager
introduction
shopping product
42. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
multicultural marketing
processed material
perceived risk
seasonal analysis
43. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item
demand-based pricing
baby boomers
expert forecasting survey
bait and switch
44. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
multicultural marketing
consideration set
information search
specialty products
45. The last consumers to adopt the innovation
market segment
baby boomers
early adopters
laggards
46. Group of people within an organization who focus exclusively on the development of a new product
senior citizens
evaluative criteria
venture teams
bait and switch
47. The process by which people select - organize - and interpret information form the outside world
perception
knock-off
customer satisfaction objective
prestige pricing
48. Expensive goods that an organization uses in its daily operations that last for a long time
co-branding
equipment
economics of scale
motivation
49. The overall feelings or attitude a person has about a product after purchasing it
consumer satisfaction/dissatisfiaction
target market
store or private-label brands
laggards
50. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
shopping product
customer satisfaction objective
list price
customer forecasting survey