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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 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
information search
classical conditioning
uniform delivered pricing
SWOT analysis
2. The strategy of selling products at unreasonably low prices to drive competitors out of business
opinion leader
qualifying dimensions
predatory pricing
maintenance - repair - and operating products
3. A price-setting method based on estimated of demand at different prices
f.o.b. origin pricing
demand-based pricing
core product
perceived risk
4. The overall feelings or attitude a person has about a product after purchasing it
prestige pricing
consumer satisfaction/dissatisfiaction
convenience product
senior citizens
5. Products created when firms transform raw materials from their original state
target costing
processed material
birthrate
status symbols
6. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
combined market approach
sustainability
consumer-to-consumer e-commerce
expert forecasting survey
7. When each family unit produces everything it consumes
pure subsistence economy
discontinuous innovation
learning
bartering
8. Learning that occurs as the result of rewards of punishments
pure subsistence economy
operant conditioning
heuristics
trade or functional discounts
9. Pricing a new product low for a limited period of time to lower the risk for a customer
trial pricing
competitive effect objective
nondurable goods
penetration strategy
10. A product people often buy on the spur of the moment
cognitive dissonance
cumulative quantity discounts
impulse product
cycle analysis
11. A pricing strategy in which a firm sets prices that provide ultimate value to customers
target market
competitive effect objective
growth stage
value pricing everyday low-pricing
12. The physical good or the delivered service that supplies the desired benefit
single target market approach
skimming price
brand
actual product
13. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
market
profit objective
market test
augmented product
14. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue
specialty products
Delphi technique
disposable income
diffusion
15. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer
price discrimination
f.o.b. delivered pricing
reference group
market segmentation
16. 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
perceived risk
market segmentation
brand loyalty
product life cycle
17. Goods that a business customer consumes in a relatively short time
maintenance - repair - and operating products
nondurable goods
conformity
customer forecasting survey
18. All the benefits the product will provide for consumers or business customers
fixed costs
core product
price discrimination
brand extension
19. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
gen y
consumer behavior
family life cycle
cost of ownership
20. The final stage in the product life cycle - in which sales decrease as customer needs change
bartering
decline stage
demand-based pricing
market segmentation
21. 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
product market
time-series analysis
birthrate
22. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
brand
price bundling
introduction
convenience product
23. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment
Delphi technique
dynamically continuous innovation
price discrimination
cognitive learning theory
24. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
multicultural marketing
product market
trend analysis
price maintenance
25. The process by which people select - organize - and interpret information form the outside world
price elastic
consumer-to-consumer e-commerce
perception
early majority
26. The value of something that is given up to obtain something else
inelastic demand
opportunity cost
specialty products
knock-off
27. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition
augmented product
diffusion
brand
continous innovation
28. 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
knock-off
trademark
product life cycle
social class
29. Tangible products we can see - touch - smell - hear - taste
raw materials
continous innovation
goods
innovation
30. Group of people within an organization who focus exclusively on the development of a new product
motivation
venture teams
operating costs
pure subsistence economy
31. The values - beliefs - customs - and tastes that a group of people value
price maintenance
self-concept
convenience product
culture
32. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
yield-management pricing
hierarchy of needs
product line
component parts
33. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
impulse product
fixed costs
price discrimination
qualifying dimensions
34. A firm's total product offering designed to satisfy a single need or desire of target customers
behavioral learning theories
birthrate
product line
maturity stage
35. A marketing mix is tailored to fit some specific target customers
market manager
target marketing
gen y
price elastic
36. Number of babies born per 1000 people fluctuated greatly in last 65 years
variable costs
birthrate
demand curve
freight absorption pricing
37. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
breakthrough opportunities
consumer behavior
national or manufacturer brands
sales forecast
38. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
involvment
laggards
empty nesters
consumer-to-consumer e-commerce
39. Income that is adjusted to take out the effects of inflation on purchasing power
real income
actual product
price
product market
40. A totally new product that creates major changes in the way we live
competitive effect objective
sales force forecasting survey
discontinuous innovation
cognitive dissonance
41. 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
sales or market share objective
market
lifestyle
bait and switch
42. 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
f.o.b. delivered pricing
variable pricing
market information function
maturity stage
43. Costs involved in using a product
test marketing
shopping product
zone pricing
operating costs
44. Sales forecasting based on the intuition of one or more executives
executive judgement
captive pricing
service encounter
macro marketing
45. To try to find similar patterns within sets of data
growth stage
reciprocity
sales forecast
clustering techniques
46. Those that actually affect the customers purchase of specific product or brand in a product market
determining dimensions
learning
innovation
empty nesters
47. Charging a very high - premium price for a new product
judgment
skimming price
cycle analysis
fixed costs
48. What is left of disposable income after paying for necessities
discetionary income
innovation
venture teams
image enhancement objective
49. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
profit objective
micromarketing
price leadership (follower)
stimulus generalization
50. The process by which organization adjust their offering in an attempt to match demand
variable costs
seasonal analysis
capacity management
profit objective