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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. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
raw materials
perceived risk
operating costs
social class
2. A relatively permanent change in behavior caused by acquired information or experience
pure subsistence economy
consumer satisfaction/dissatisfiaction
dynamic pricing
learning
3. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
economics of scale
product adoption
co-branding
benefit segmentation
4. Costs of production that do not change with the number of units produced
sex roles
uniform delivered pricing
fixed costs
innovators
5. The value of a brand to an organization
shopping product
dynamic pricing
brand equity
metropolitan statistical area (msa)
6. Costs involved in using a product
operating costs
innovation
f.o.b. delivered pricing
target costing
7. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
opportunity cost
birthrate
augmented product
shopping product
8. The strategy of selling products at unreasonably low prices to drive competitors out of business
predatory pricing
growth stage
augmented product
skimming price
9. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
stimulus generalization
opinion leader
store or private-label brands
maturity stage
10. 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
universal functions of marketing
consumer behavior
tipping point
trademark
11. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
processed material
stimulus generalization
evaluative criteria
shopping product
12. Products that exhibit consistently high velocity sales in the consumer marketplace
fast-moving consumer goods
segments
judgment
new product failure
13. What is left after taxes
price elasticity
pure subsistence economy
disposable income
culture
14. Discounts based on the total quantity bought within a specified time period
generic marketing
SWOT analysis
conformity
cumulative quantity discounts
15. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
trial pricing
mass marketing
new product failure
seasonal analysis
16. The psychological characteristics that consistently influence the way a person responds to situations in the environment
raw materials
list price
personality
maturity stage
17. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
classical conditioning
product market
opinion leader
equipment
18. 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
qualifying dimensions
online auctions
trademark
opinion leader
19. A strategy of experimenting with prices until the price that generates the highest profitability is found
captive pricing
experimental pricing
family life cycle
gen y
20. 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
brand manager
maturity stage
consumer behavior
social class
21. 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
clickstream analysis
reference group
tipping point
price-floor pricing
22. 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
experimental pricing
growth stage
brand loyalty
23. Pricing that is intended to have an effect on the marketing efforts of the competition
price elastic
consideration set
fast-moving consumer goods
competitive effect objective
24. The collaboration of two or more firms in setting prices - usually to keep prices high
price maintenance
pure subsistence economy
dynamic pricing
price
25. Aim at one or more homogeneous segments and try to develop different marketing mix for each
segmenting
social class
segments
product category manager
26. A totally new product that creates major changes in the way we live
nondurable goods
target market
cumulative quantity discounts
discontinuous innovation
27. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
price bundling
uniform delivered pricing
variable pricing
internal reference price
28. A flexible pricing strategy that reflects what individual customers are willing to pay
price inelastic
cognitive learning theory
variable pricing
market
29. A pricing strategy in which a firm sets prices that provide ultimate value to customers
processed material
skimming price
nondurable goods
value pricing everyday low-pricing
30. Number of babies born per 1000 people fluctuated greatly in last 65 years
motivation
clustering techniques
birthrate
zone pricing
31. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
cannibalization
product category manager
product market
nondurable goods
32. A firm's total product offering designed to satisfy a single need or desire of target customers
product line
cost-plus pricing
trademark
market segment
33. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
universal functions of marketing
social class
customer forecasting survey
micromarketing
34. A homogeneous group of customers who will respond to a marketing mix in a similiar way
market segment
metropolitan statistical area (msa)
family life cycle
profit objective
35. The pricing strategy of setting prices below cost to attract customers into a store
cause-related marketing
judgment
loss-leader pricing
brand
36. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
product adoption
processed material
multiple target market approach
gen y
37. A means of characterizing consumers based on the different family stages they pass through as they grow older
market information function
involvment
family life cycle
product market
38. A change in beliefs or actions as a reaction to real or imagined group pressure
personality
price leadership (follower)
internal reference price
conformity
39. Goods that a business customer consumes in a relatively short time
late majority
market test
maintenance - repair - and operating products
captive pricing
40. The set of alternative brands the consumer is considering for the decision process
consideration set
convenience product
processed material
unsought products
41. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
consumer behavior
brand extension
margin
product adoption
42. A modification of an existing product that sets one brand apart from its competitors
benefit segmentation
metropolitan statistical area (msa)
late majority
continous innovation
43. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
product life cycle
augmented product
bid riggin
product market
44. A pricing tactic in which customers in different geographic zones pay different transportation rates
price-floor pricing
discetionary income
cumulative quantity discounts
zone pricing
45. 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
variable pricing
conformity
consumer satisfaction/dissatisfiaction
hierarchy of needs
46. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
customer relationship management (crm)
uniform delivered pricing
combiners
test marketing
47. 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
bait and switch
senior citizens
price bundling
f.o.b. origin pricing
48. A product that consumers perceive to be new and different form existing products
conformity
innovation
marketing ethics
mass selling
49. Moral standards that guide marketing decisions and actions
birthrate
marketing ethics
cognitive dissonance
frequent discounting
50. A strategy of frequently using sale prices to increase sales volume
personality
frequent discounting
customer satisfaction
cycle analysis