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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 fairly homogeneous group of customers to whom a company wishes to appeal
innovation
product life cycle
target market
capacity management
2. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
f.o.b. delivered pricing
raw materials
diffusion
dynamic pricing
3. Discounts based on the total quantity bought within a specified time period
gen y
price subsidies
online auctions
cumulative quantity discounts
4. Learning that occurs as the result of rewards of punishments
culture
operant conditioning
birthrate
yield-management pricing
5. The division of a market according to benefits that consumers want from the product
competitive effect objective
market information function
benefit segmentation
universal functions of marketing
6. A new product sold with the same brand name as a strong existing brand
venture teams
brand extension
target marketing
seasonal analysis
7. Pricing intended to establish a desired image or positioning to prospective customers
store or private-label brands
dynamically continuous innovation
laggards
image enhancement objective
8. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
price leadership (follower)
bartering
customer relationship management (crm)
9. The relative importance of perceived consequences of the purchase to a consumer
involvment
national or manufacturer brands
clickstream analysis
zone pricing
10. When each family unit produces everything it consumes
goods
shopping product
maintenance - repair - and operating products
pure subsistence economy
11. Those who adopt an innovation early in the diffusion process but later than the innovators
attitude
impulse product
early adopters
market
12. Brands that are owned and sold by a specific - retailer or distributor
online auctions
freight absorption pricing
heuristics
store or private-label brands
13. Costs involved in using a product
operating costs
processed material
goods
target costing
14. The dimensions that consumers use to compare completing product alternatives
reference group
perception
evaluative criteria
innovators
15. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
new product failure
processed material
internal reference price
price subsidies
16. Pricing products to maximize sales or to attain a desired level of sales or market share
sales or market share objective
customer satisfaction
opinion leader
operant conditioning
17. 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
macro marketing
market
competitive advantage
disposable income
18. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
product adoption
disintermediation
decline stage
market manager
19. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
subculture
evaluative criteria
consumer behavior
breakthrough opportunities
20. Aim at one or more homogeneous segments and try to develop different marketing mix for each
core product
maintenance - repair - and operating products
product life cycle
segments
21. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas
benefit segmentation
market information function
price
trend analysis
22. A change in beliefs or actions as a reaction to real or imagined group pressure
disintermediation
maintenance - repair - and operating products
trademark
conformity
23. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
yield-management pricing
combined market approach
breakthrough opportunities
image enhancement objective
24. What is left of disposable income after paying for necessities
processed material
social class
motivation
discetionary income
25. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
determining dimensions
diffusion
expert forecasting survey
shopping product
26. Goods that a business customer consumes in a relatively short time
market manager
portfolio management
maintenance - repair - and operating products
bartering
27. A pricing tactic in which customers in different geographic zones pay different transportation rates
zone pricing
core product
attitude
freight absorption pricing
28. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
market segmentation
national or manufacturer brands
diffusion
consumer-to-consumer e-commerce
29. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
new product failure
SWOT analysis
mass marketing
stimulus generalization
30. A new product that copies with slight modification the design of an original product
knock-off
culture
hierarchy of needs
gen y
31. Tangible products we can see - touch - smell - hear - taste
breakthrough opportunities
attitude
senior citizens
goods
32. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
raw materials
trade or functional discounts
capacity management
brand loyalty
33. A relatively permanent change in behavior caused by acquired information or experience
learning
operant conditioning
cumulative quantity discounts
margin
34. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
bait and switch
maturity stage
captive pricing
universal functions of marketing
35. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
dynamically continuous innovation
brand extension
tipping point
convenience product
36. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
SWOT analysis
opinion leader
discetionary income
price discrimination
37. A situation in which an increase or a decrease in price will not significantly affect demand for the product
marketing ethics
inelastic demand
birthrate
consumer satisfaction/dissatisfiaction
38. The process by which the use of a product spreads throughout the population
frequent discounting
diffusion
shopping product
random factor analysis
39. 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
f.o.b. delivered pricing
shopping product
perceived risk
time-series analysis
40. 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
trial pricing
clustering techniques
trademark
early majority
41. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
metropolitan statistical area (msa)
hierarchy of needs
decline stage
durable goods
42. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
trend analysis
market segmentation
mass marketing
mass selling
43. The strategy of selling products at unreasonably low prices to drive competitors out of business
uniform delivered pricing
discetionary income
predatory pricing
augmented product
44. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
product market
diffusion
component parts
empty nesters
45. Pricing a new product low for a limited period of time to lower the risk for a customer
trial pricing
internal reference price
dynamically continuous innovation
late majority
46. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
freight absorption pricing
portfolio management
disintermediation
fixed costs
47. The value of something that is given up to obtain something else
f.o.b. delivered pricing
f.o.b. origin pricing
opportunity cost
market manager
48. 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
personality
opinion leader
price leadership (follower)
cognitive dissonance
49. The values - beliefs - customs - and tastes that a group of people value
profit objective
product life cycle
culture
durable goods
50. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
price bundling
personality
inelastic demand
yield-management pricing