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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 pricing tactic in which customers in different geographic zones pay different transportation rates
prestige pricing
family life cycle
capacity management
zone pricing
2. The value that customers give up - or exchange - to obtain a desired product
sustainability
price
regression analysis
tipping point
3. Pricing products to maximize sales or to attain a desired level of sales or market share
cognitive learning theory
price subsidies
sales or market share objective
co-branding
4. The regret or remorse buyers may feel after making a purchase
attitude
continous innovation
cognitive dissonance
target marketing
5. 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
market segment
price leadership (follower)
price discrimination
6. A pricing tactic in which the seller absorbs the total cost of transportation
diffusion
freight absorption pricing
clickstream analysis
single target market approach
7. The final stage in the product life cycle - in which sales decrease as customer needs change
decline stage
dynamic pricing
national or manufacturer brands
conformity
8. An arrangement unique to business marketing in which two organizations agree to buy from each other
skimming price
yield-management pricing
reciprocity
seasonal analysis
9. A change in an existing product that requires a moderate amount of learning or behavior change
shopping product
dynamically continuous innovation
perceived risk
multiple target market approach
10. 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
uniform delivered pricing
brand loyalty
reference group
price elasticity
11. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
disintermediation
test marketing
trial pricing
processed material
12. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
discontinuous innovation
trade or functional discounts
price inelastic
zone pricing
13. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
random factor analysis
emergency product
sustainability
price subsidies
14. Costs of production that do not change with the number of units produced
opportunity cost
fixed costs
knock-off
introduction
15. An aggregating process - clustering people with similar needs into a "market segment"
yield-management pricing
segmenting
online auctions
portfolio management
16. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
sex roles
regression analysis
stimulus generalization
test marketing
17. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
quantity discounts
trial pricing
specialty products
marketing ethics
18. When a percentage change in price results in a larger percentage change in the quantity demanded
introduction
real income
price elastic
convenience product
19. A brand that a group of individual products or individual brands share
clickstream analysis
family brand
cost-plus pricing
durable goods
20. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
judgment
early adopters
social class
stimulus generalization
21. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase
image enhancement objective
late majority
zone pricing
f.o.b. origin pricing
22. Brands that are owned and sold by a specific - retailer or distributor
cannibalization
store or private-label brands
baby boomers
attitude
23. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
introduction
status symbols
differentation
penetration strategy
24. Group of people within an organization who focus exclusively on the development of a new product
brand extension
baby boomers
executive judgement
venture teams
25. Pricing intended to establish a desired image or positioning to prospective customers
disintermediation
image enhancement objective
status symbols
product category manager
26. To try to find similar patterns within sets of data
multicultural marketing
segments
clustering techniques
birthrate
27. 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
bait and switch
consideration set
portfolio management
sales forecast
28. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
switching costs
customer forecasting survey
variable pricing
value pricing everyday low-pricing
29. A strategy of ducking under a competitor's price by a fixed percentage
maturity stage
umbrella pricing
brand equity
consumer satisfaction/dissatisfiaction
30. A marketing mix is tailored to fit some specific target customers
licensing
senior citizens
macro marketing
target marketing
31. A relatively permanent change in behavior caused by acquired information or experience
early majority
learning
price maintenance
inelastic demand
32. A pricing strategy that considers the lifetime cost of using the product
marketing ethics
cost of ownership
diffusion
universal functions of marketing
33. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
shopping product
price elasticity
attitude
target costing
34. Pricing that is intended to have an effect on the marketing efforts of the competition
competitive effect objective
bid riggin
price maintenance
motivation
35. An integrated economic and social unit wit a large population nucleus
metropolitan statistical area (msa)
trade or functional discounts
sales forecast
price elasticity
36. A flexible pricing strategy that reflects what individual customers are willing to pay
product adoption
variable pricing
f.o.b. delivered pricing
disintermediation
37. The value of a brand to an organization
perception
consumer-to-consumer e-commerce
brand equity
empty nesters
38. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
market manager
trend analysis
reference group
consumer-to-consumer e-commerce
39. The percentage change in unit sales that results from a percentage change in price
clickstream analysis
unsought products
price elasticity
discontinuous innovation
40. Aim at one or more homogeneous segments and try to develop different marketing mix for each
trademark
maintenance - repair - and operating products
segments
growth stage
41. 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
tipping point
brand loyalty
opportunity cost
involvment
42. An agreement between two brands to work together in marketing new or existing products
co-branding
determining dimensions
trade or functional discounts
sustainability
43. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
cost-plus pricing
non-cumulative quantity discounts
component parts
uniform delivered pricing
44. Discounts based only on the quantity purchased in individual orders
evaluative criteria
Delphi technique
product life cycle
non-cumulative quantity discounts
45. A change in beliefs or actions as a reaction to real or imagined group pressure
consumer-to-consumer e-commerce
brand extension
trend analysis
conformity
46. An organizational unit that focuses on some product markets and is treated as a separate profit center
differentation
combiners
strategic business unit sbu
trial pricing
47. Relevant to including a customer type in a product market
senior citizens
qualifying dimensions
prestige pricing
multicultural marketing
48. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
maintenance - repair - and operating products
market test
gen x
component parts
49. A new product that does not reach expectations for success - failing to reach sales objectives set
new product failure
price maintenance
price elastic
experimental pricing
50. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
trademark
attitude
cause-related marketing
uniform delivered pricing
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