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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. Learning that occurs as the result of rewards of punishments
consideration set
macro marketing
maturity stage
operant conditioning
2. Discounts based on the total quantity bought within a specified time period
cumulative quantity discounts
late majority
product market
cause-related marketing
3. Products that exhibit consistently high velocity sales in the consumer marketplace
sales or market share objective
brand equity
actual product
fast-moving consumer goods
4. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
customer satisfaction
processed material
attitude
online auctions
5. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
brand loyalty
generic marketing
innovation
diffusion
6. The regret or remorse buyers may feel after making a purchase
cognitive dissonance
price leadership (follower)
augmented product
online auctions
7. Costs involved in using a product
operating costs
target costing
penetration strategy
micromarketing
8. To try to increase the size of their target markets by combining two or more segments
senior citizens
consumer behavior
qualifying dimensions
combiners
9. What is left after taxes
disposable income
behavioral learning theories
core product
price subsidies
10. The relative importance of perceived consequences of the purchase to a consumer
product adoption
product market
perceived risk
involvment
11. A pricing strategy that considers the lifetime cost of using the product
cost of ownership
family brand
sex roles
subculture
12. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
maturity stage
subculture
processed material
trial pricing
13. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
generic marketing
consumer behavior
experimental pricing
seasonal analysis
14. Moral standards that guide marketing decisions and actions
marketing ethics
early adopters
personality
decline stage
15. E-commerce that allows shoppers to purchase products through online bidding
captive pricing
online auctions
diffusion
involvment
16. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
sex roles
trend analysis
cognitive dissonance
competitive advantage
17. All the benefits the product will provide for consumers or business customers
processed material
core product
laggards
conformity
18. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
culture
portfolio management
discetionary income
price elasticity
19. A firm's total product offering designed to satisfy a single need or desire of target customers
cumulative quantity discounts
time-series analysis
combined market approach
product line
20. A pricing tactic of charging reduced prices for larger quantities of product
quantity discounts
opportunity cost
benefit segmentation
capacity management
21. A change in beliefs or actions as a reaction to real or imagined group pressure
trend analysis
cognitive dissonance
trade or functional discounts
conformity
22. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus
marketing ethics
classical conditioning
perception
capacity management
23. Sales forecasting based on the intuition of one or more executives
family life cycle
knock-off
mass marketing
executive judgement
24. An arrangement unique to business marketing in which two organizations agree to buy from each other
reciprocity
disposable income
personality
product line
25. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention
new product failure
unsought products
internal reference price
price leadership (follower)
26. The first segment (2.5%) of a population to adopt a new product
behavioral learning theories
innovators
segments
zone pricing
27. The process of eliminating interaction between customers and service providers
image enhancement objective
disintermediation
metropolitan statistical area (msa)
impulse product
28. 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
single target market approach
time-series analysis
penetration strategy
margin
29. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
determining dimensions
culture
heuristics
30. What is left of disposable income after paying for necessities
market
attitude
discetionary income
market segmentation
31. A new product that does not reach expectations for success - failing to reach sales objectives set
actual product
new product failure
raw materials
diffusion
32. The process by which people select - organize - and interpret information form the outside world
perception
prestige pricing
disintermediation
reference group
33. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
random factor analysis
motivation
innovation
uniform delivered pricing
34. Number of babies born per 1000 people fluctuated greatly in last 65 years
birthrate
competitive advantage
economics of scale
bid riggin
35. When each family unit produces everything it consumes
opinion leader
heuristics
combined market approach
pure subsistence economy
36. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes
market segmentation
umbrella pricing
yield-management pricing
experimental pricing
37. Charging a very high - premium price for a new product
price inelastic
skimming price
specialty products
diffusion
38. An organizational unit that focuses on some product markets and is treated as a separate profit center
demand curve
micromarketing
strategic business unit sbu
single target market approach
39. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
sex roles
dynamic pricing
lifestyle
qualifying dimensions
40. A manager who is responsible for developing and implementing the marketing plan for a single brand
evaluative criteria
micromarketing
sales or market share objective
brand manager
41. The value of a brand to an organization
brand equity
demand-based pricing
sex roles
price lining
42. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
diffusion
penetration strategy
generic marketing
price discrimination
43. 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
empty nesters
early adopters
conformity
price subsidies
44. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
innovators
product adoption
evaluative criteria
benefit segmentation
45. 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
sex roles
price bundling
economics of scale
brand loyalty
46. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
augmented product
market test
differentation
margin
47. The value of something that is given up to obtain something else
staples
opportunity cost
micromarketing
heuristics
48. Refers to the generation born immediately following the baby boom - from 1965-1977
sales forecast
gen x
product category manager
raw materials
49. Those who adopt an innovation early in the diffusion process but later than the innovators
introduction
early adopters
customer satisfaction
learning
50. 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
cycle analysis
brand
skimming price
f.o.b. origin pricing