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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. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
price
f.o.b. origin pricing
segmenting
information search
2. Costs of production that do not change with the number of units produced
fixed costs
non-cumulative quantity discounts
trademark
yield-management pricing
3. A modification of an existing product that sets one brand apart from its competitors
reference group
mass selling
continous innovation
target costing
4. Aim at one or more homogeneous segments and try to develop different marketing mix for each
impulse product
segments
continous innovation
market test
5. 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
cognitive dissonance
market
market information function
price elastic
6. The seller fine tunes the marketing effort with info from a detailed customer database
switching costs
evaluative criteria
customer relationship management (crm)
bait and switch
7. 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
unsought products
senior citizens
random factor analysis
combiners
8. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
price lining
early majority
frequent discounting
component parts
9. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
information search
portfolio management
emergency product
price inelastic
10. Products that exhibit consistently high velocity sales in the consumer marketplace
culture
expert forecasting survey
fast-moving consumer goods
disintermediation
11. A product people often buy on the spur of the moment
specialty products
loss-leader pricing
quantity discounts
impulse product
12. The set of alternative brands the consumer is considering for the decision process
consideration set
uniform delivered pricing
consumer satisfaction/dissatisfiaction
demand-based pricing
13. People born between 1946 and 1964
time-series analysis
competitive effect objective
baby boomers
convenience product
14. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
introduction
macro marketing
cost-plus pricing
self-concept
15. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
reciprocity
customer forecasting survey
predatory pricing
frequent discounting
16. A relatively permanent change in behavior caused by acquired information or experience
senior citizens
learning
cognitive dissonance
disposable income
17. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
decline stage
cause-related marketing
stimulus generalization
competitive advantage
18. An internal state that drives us to satisfy needs by activating goal-oriented behavior
motivation
inelastic demand
price inelastic
margin
19. The strategy of selling products at unreasonably low prices to drive competitors out of business
predatory pricing
market manager
demand-based pricing
single target market approach
20. The practice of setting a limited number of different specific prices - called price points - for items in a product line
universal functions of marketing
price lining
penetration strategy
consumer satisfaction/dissatisfiaction
21. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
brand manager
consumer-to-consumer e-commerce
customer satisfaction
family life cycle
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
gen x
empty nesters
brand loyalty
operating costs
23. Discounts based only on the quantity purchased in individual orders
non-cumulative quantity discounts
customer satisfaction objective
f.o.b. origin pricing
predatory pricing
24. Tangible products we can see - touch - smell - hear - taste
goods
price inelastic
early adopters
market segmentation
25. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
product category manager
cause-related marketing
sales force forecasting survey
sex roles
26. Segmenting the market and picking one of the homogeneous segments as the firms target market
single target market approach
maintenance - repair - and operating products
internal reference price
introduction
27. 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
inelastic demand
early adopters
social class
sales forecast
28. The relative importance of perceived consequences of the purchase to a consumer
multiple target market approach
involvment
image enhancement objective
regression analysis
29. The physical good or the delivered service that supplies the desired benefit
actual product
operating costs
national or manufacturer brands
macro marketing
30. The process of eliminating interaction between customers and service providers
durable goods
disintermediation
innovation
combiners
31. To try to increase the size of their target markets by combining two or more segments
price
umbrella pricing
combiners
clustering techniques
32. An aggregating process - clustering people with similar needs into a "market segment"
gen x
profit objective
segmenting
skimming price
33. 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
image enhancement objective
market segmentation
clickstream analysis
portfolio management
34. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
breakthrough opportunities
price
demand curve
uniform delivered pricing
35. Pricing that is intended to maximize customer satisfaction and retention
brand manager
customer satisfaction objective
dynamically continuous innovation
actual product
36. Communicating with large numbers of customers at the same time
differentation
mass selling
operating costs
pure subsistence economy
37. The process by which the use of a product spreads throughout the population
diffusion
demand curve
learning
captive pricing
38. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
brand manager
penetration strategy
customer forecasting survey
laggards
39. The process by which people select - organize - and interpret information form the outside world
motivation
demand-based pricing
price bundling
perception
40. A brand that a group of individual products or individual brands share
economics of scale
freight absorption pricing
yield-management pricing
family brand
41. When a percentage change in price results in a smaller percentage change in the quantity demanded
decline stage
price inelastic
impulse product
clustering techniques
42. A strategy of frequently using sale prices to increase sales volume
non-cumulative quantity discounts
frequent discounting
image enhancement objective
product market
43. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
late majority
brand extension
brand manager
expert forecasting survey
44. Moral standards that guide marketing decisions and actions
cognitive dissonance
marketing ethics
classical conditioning
gen y
45. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same
cause-related marketing
consumer behavior
discetionary income
demand curve
46. Sometimes called millenials - refer to those born from 1978-1994
switching costs
gen y
motivation
real income
47. Goods that a business customer consumes in a relatively short time
breakthrough opportunities
maintenance - repair - and operating products
heuristics
profit objective
48. The actual interaction between the customer and the service provider
innovators
family brand
consumer behavior
service encounter
49. A flexible pricing strategy that reflects what individual customers are willing to pay
maintenance - repair - and operating products
variable pricing
skimming price
unsought products
50. Costs involved in moving from one brand to another
bait and switch
switching costs
maintenance - repair - and operating products
conformity