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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. A new product that copies with slight modification the design of an original product
target market
knock-off
umbrella pricing
mass selling
2. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
convenience product
consumer satisfaction/dissatisfiaction
venture teams
market segment
3. What is left after taxes
family life cycle
disposable income
sales or market share objective
determining dimensions
4. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
motivation
product category manager
zone pricing
dynamically continuous innovation
5. A means of characterizing consumers based on the different family stages they pass through as they grow older
bartering
time-series analysis
family life cycle
birthrate
6. People whose children are grown and who are now able to spend their money in other ways
consumer behavior
empty nesters
price discrimination
product category manager
7. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
value pricing everyday low-pricing
benefit segmentation
status symbols
cycle analysis
8. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
multicultural marketing
staples
customer satisfaction
durable goods
9. Those that actually affect the customers purchase of specific product or brand in a product market
service encounter
determining dimensions
hierarchy of needs
early adopters
10. When each family unit produces everything it consumes
SWOT analysis
cannibalization
sex roles
pure subsistence economy
11. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
margin
mass marketing
f.o.b. origin pricing
price subsidies
12. Communicating with large numbers of customers at the same time
market segment
core product
mass selling
price
13. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
discontinuous innovation
uniform delivered pricing
opportunity cost
behavioral learning theories
14. A product people often buy on the spur of the moment
dynamic pricing
impulse product
cycle analysis
cognitive learning theory
15. The strategy of selling products at unreasonably low prices to drive competitors out of business
hierarchy of needs
predatory pricing
switching costs
new product failure
16. The psychological characteristics that consistently influence the way a person responds to situations in the environment
economics of scale
portfolio management
personality
involvment
17. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
growth stage
price elastic
qualifying dimensions
tipping point
18. The final stage in the product life cycle - in which sales decrease as customer needs change
decline stage
image enhancement objective
profit objective
clustering techniques
19. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
sales force forecasting survey
trial pricing
family life cycle
inelastic demand
20. 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
f.o.b. origin pricing
market manager
product life cycle
multicultural marketing
21. Pricing a new product low for a limited period of time to lower the risk for a customer
behavioral learning theories
actual product
trial pricing
nondurable goods
22. The process by which people select - organize - and interpret information form the outside world
bait and switch
product life cycle
combined market approach
perception
23. The marketing mix is distinct from and better than what is available from a competitor
differentation
clustering techniques
product category manager
product adoption
24. Products that exhibit consistently high velocity sales in the consumer marketplace
market segment
discetionary income
cycle analysis
fast-moving consumer goods
25. A marketing mix is tailored to fit some specific target customers
birthrate
customer forecasting survey
target marketing
capacity management
26. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
yield-management pricing
penetration strategy
opinion leader
product life cycle
27. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
single target market approach
test marketing
determining dimensions
market test
28. 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
price inelastic
differentation
social class
experimental pricing
29. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
breakthrough opportunities
price bundling
freight absorption pricing
shopping product
30. The difference between the cost of the product and the selling price of the product
motivation
margin
qualifying dimensions
senior citizens
31. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
metropolitan statistical area (msa)
Delphi technique
price leadership (follower)
augmented product
32. When a percentage change in price results in a smaller percentage change in the quantity demanded
price-floor pricing
price inelastic
sales force forecasting survey
product market
33. 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
market segment
licensing
yield-management pricing
cognitive learning theory
34. A strategy of frequently using sale prices to increase sales volume
frequent discounting
innovators
specialty products
combined market approach
35. 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
social class
store or private-label brands
market segmentation
Delphi technique
36. Discounts based only on the quantity purchased in individual orders
lifestyle
micromarketing
multicultural marketing
non-cumulative quantity discounts
37. To try to find similar patterns within sets of data
brand loyalty
self-concept
price bundling
clustering techniques
38. The percentage change in unit sales that results from a percentage change in price
price elasticity
early adopters
perception
decline stage
39. Products that consumers purchase to signal membership in a desirable social class
yield-management pricing
gen y
status symbols
market manager
40. An integrated economic and social unit wit a large population nucleus
value pricing everyday low-pricing
metropolitan statistical area (msa)
determining dimensions
dynamically continuous innovation
41. The process of eliminating interaction between customers and service providers
differentation
social class
disintermediation
cognitive learning theory
42. Pricing intended to establish a desired image or positioning to prospective customers
empty nesters
market
image enhancement objective
attitude
43. 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
operating costs
captive pricing
sales force forecasting survey
hierarchy of needs
44. Those who adopt an innovation early in the diffusion process but later than the innovators
expert forecasting survey
venture teams
early adopters
internal reference price
45. 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
cycle analysis
price subsidies
skimming price
cost-plus pricing
46. An organizational unit that focuses on some product markets and is treated as a separate profit center
dynamically continuous innovation
customer satisfaction
strategic business unit sbu
growth stage
47. The belief that use of a product has potentially negative consequences - either financial - physical or social
perceived risk
cycle analysis
target costing
experimental pricing
48. Brands that the manufacturer of the product owns
switching costs
sales or market share objective
marketing ethics
national or manufacturer brands
49. A change in beliefs or actions as a reaction to real or imagined group pressure
consumer-to-consumer e-commerce
evaluative criteria
experimental pricing
conformity
50. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
penetration strategy
augmented product
gen x
skimming price