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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 practice of linking products to a particular social cause on an ongoing or short-term basis
consumer-to-consumer e-commerce
maintenance - repair - and operating products
multiple target market approach
cause-related marketing
2. 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
strategic business unit sbu
perceived risk
regression analysis
price subsidies
3. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
growth stage
raw materials
lifestyle
component parts
4. All the benefits the product will provide for consumers or business customers
variable pricing
core product
equipment
product adoption
5. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
target costing
brand
demand-based pricing
convenience product
6. Those who adopt an innovation early in the diffusion process but later than the innovators
uniform delivered pricing
price elastic
early adopters
executive judgement
7. Tangible products we can see - touch - smell - hear - taste
goods
decline stage
empty nesters
brand equity
8. 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
prestige pricing
penetration strategy
price inelastic
9. A situation in which an increase or a decrease in price will not significantly affect demand for the product
inelastic demand
cognitive learning theory
price elasticity
reference group
10. Sometimes called millenials - refer to those born from 1978-1994
sales forecast
cycle analysis
gen y
demand curve
11. 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
market information function
social class
capacity management
licensing
12. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time
bait and switch
introduction
licensing
market segment
13. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
perception
status symbols
quantity discounts
14. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
market information function
brand equity
sustainability
disintermediation
15. A change in beliefs or actions as a reaction to real or imagined group pressure
cycle analysis
impulse product
conformity
venture teams
16. Products that exhibit consistently high velocity sales in the consumer marketplace
evaluative criteria
discontinuous innovation
fast-moving consumer goods
gen x
17. The loss of sales of an existing product when a new item in a product line or product family is introduced
trial pricing
market
early majority
cannibalization
18. 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
SWOT analysis
segments
bait and switch
breakthrough opportunities
19. To try to find similar patterns within sets of data
innovation
fixed costs
clustering techniques
product life cycle
20. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
sales or market share objective
combined market approach
cycle analysis
involvment
21. The values - beliefs - customs - and tastes that a group of people value
yield-management pricing
discontinuous innovation
culture
experimental pricing
22. A means of characterizing consumers based on the different family stages they pass through as they grow older
subculture
late majority
family life cycle
maintenance - repair - and operating products
23. A pricing strategy in which a firm sets prices that provide ultimate value to customers
social class
value pricing everyday low-pricing
zone pricing
bait and switch
24. 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
cost-plus pricing
Delphi technique
price maintenance
late majority
25. A means of measuring a website's success by tracking customers' movement around the company website
clickstream analysis
market information function
late majority
cognitive dissonance
26. A manager who is responsible for developing and implementing the marketing plan for a single brand
customer satisfaction
brand manager
convenience product
subculture
27. A social process that directs an economy
target marketing
opportunity cost
dynamically continuous innovation
macro marketing
28. The set of alternative brands the consumer is considering for the decision process
fast-moving consumer goods
product market
opportunity cost
consideration set
29. Costs of production that do not change with the number of units produced
brand equity
fixed costs
economics of scale
product line
30. Brands that are owned and sold by a specific - retailer or distributor
store or private-label brands
combiners
skimming price
operant conditioning
31. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
prestige pricing
attitude
information search
motivation
32. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
introduction
pure subsistence economy
discetionary income
price lining
33. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
brand extension
market manager
raw materials
product adoption
34. E-commerce that allows shoppers to purchase products through online bidding
online auctions
late majority
durable goods
brand manager
35. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
birthrate
behavioral learning theories
trial pricing
processed material
36. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
consideration set
heuristics
attitude
reference group
37. Communicating with large numbers of customers at the same time
maturity stage
expert forecasting survey
mass selling
skimming price
38. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
price subsidies
trade or functional discounts
target costing
sex roles
39. The first segment (2.5%) of a population to adopt a new product
SWOT analysis
product life cycle
discontinuous innovation
innovators
40. People whose children are grown and who are now able to spend their money in other ways
brand extension
market information function
goods
empty nesters
41. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
time-series analysis
market segment
perception
sales force forecasting survey
42. 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
demand curve
trade or functional discounts
cognitive dissonance
information search
43. Products that consumers purchase to signal membership in a desirable social class
capacity management
status symbols
decline stage
penetration strategy
44. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
brand
national or manufacturer brands
market information function
self-concept
45. The belief that use of a product has potentially negative consequences - either financial - physical or social
reciprocity
yield-management pricing
list price
perceived risk
46. People born between 1946 and 1964
learning
margin
trademark
baby boomers
47. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
subculture
mass marketing
regression analysis
cycle analysis
48. To try to increase the size of their target markets by combining two or more segments
generic marketing
umbrella pricing
segments
combiners
49. Products created when firms transform raw materials from their original state
processed material
licensing
economics of scale
real income
50. The regret or remorse buyers may feel after making a purchase
dynamic pricing
cognitive dissonance
market segmentation
cycle analysis