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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. Relevant to including a customer type in a product market
skimming price
qualifying dimensions
hierarchy of needs
reference group
2. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
multiple target market approach
price subsidies
subculture
product adoption
3. A change in an existing product that requires a moderate amount of learning or behavior change
time-series analysis
new product failure
dynamically continuous innovation
online auctions
4. Products we purchase when we're in dire need
convenience product
core product
information search
emergency product
5. A manager who is responsible for developing and implementing the marketing plan for a single brand
internal reference price
maturity stage
image enhancement objective
brand manager
6. A strategy of ducking under a competitor's price by a fixed percentage
family brand
umbrella pricing
competitive effect objective
early adopters
7. All the benefits the product will provide for consumers or business customers
gen x
marketing ethics
operating costs
core product
8. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
venture teams
customer forecasting survey
price bundling
target costing
9. 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
cognitive learning theory
innovators
disintermediation
price-floor pricing
10. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
brand
regression analysis
motivation
tipping point
11. Moral standards that guide marketing decisions and actions
marketing ethics
price elasticity
disposable income
venture teams
12. The practice of setting a limited number of different specific prices - called price points - for items in a product line
reciprocity
price lining
disposable income
market information function
13. Income that is adjusted to take out the effects of inflation on purchasing power
real income
yield-management pricing
disposable income
venture teams
14. Group of people within an organization who focus exclusively on the development of a new product
cause-related marketing
breakthrough opportunities
venture teams
impulse product
15. The division of a market according to benefits that consumers want from the product
benefit segmentation
opportunity cost
f.o.b. origin pricing
unsought products
16. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit
seasonal analysis
classical conditioning
actual product
cost-plus pricing
17. To try to find similar patterns within sets of data
switching costs
differentation
freight absorption pricing
clustering techniques
18. People over 65
senior citizens
capacity management
service encounter
involvment
19. Costs of production that do not change with the number of units produced
price elastic
innovation
birthrate
fixed costs
20. An agreement between two brands to work together in marketing new or existing products
price subsidies
market information function
co-branding
impulse product
21. A pricing tactic in which the seller absorbs the total cost of transportation
combined market approach
judgment
freight absorption pricing
breakthrough opportunities
22. 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
goods
brand
fast-moving consumer goods
target marketing
23. 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
universal functions of marketing
micromarketing
bait and switch
hierarchy of needs
24. Aim at one or more homogeneous segments and try to develop different marketing mix for each
segments
expert forecasting survey
goods
disposable income
25. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
margin
SWOT analysis
augmented product
random factor analysis
26. 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
information search
Delphi technique
raw materials
sales forecast
27. The regret or remorse buyers may feel after making a purchase
market information function
cognitive dissonance
predatory pricing
core product
28. Combining two or more submarkets into one larger target market as a basis for one strategy
price leadership (follower)
combined market approach
segmenting
executive judgement
29. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
clickstream analysis
specialty products
multiple target market approach
price subsidies
30. Sales forecasting based on the intuition of one or more executives
executive judgement
operating costs
trend analysis
seasonal analysis
31. Costs involved in moving from one brand to another
involvment
emergency product
co-branding
switching costs
32. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
seasonal analysis
multicultural marketing
real income
segments
33. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
raw materials
decline stage
cumulative quantity discounts
uniform delivered pricing
34. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
cumulative quantity discounts
pure subsistence economy
sales forecast
consumer behavior
35. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
empty nesters
late majority
brand extension
penetration strategy
36. The relative importance of perceived consequences of the purchase to a consumer
involvment
diffusion
brand manager
cognitive learning theory
37. 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
senior citizens
brand extension
value pricing everyday low-pricing
market segmentation
38. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
internal reference price
price-floor pricing
generic marketing
price inelastic
39. A new product that copies with slight modification the design of an original product
subculture
reciprocity
single target market approach
knock-off
40. Sometimes called millenials - refer to those born from 1978-1994
expert forecasting survey
zone pricing
inelastic demand
gen y
41. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
culture
target marketing
price discrimination
sustainability
42. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
lifestyle
price inelastic
baby boomers
breakthrough opportunities
43. A new product sold with the same brand name as a strong existing brand
brand extension
fixed costs
goods
prestige pricing
44. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
classical conditioning
operating costs
product market
metropolitan statistical area (msa)
45. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
inelastic demand
market manager
price bundling
behavioral learning theories
46. 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
brand
cognitive learning theory
cycle analysis
unsought products
47. 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
universal functions of marketing
late majority
fast-moving consumer goods
culture
48. Costs involved in using a product
bait and switch
internal reference price
discetionary income
operating costs
49. When each family unit produces everything it consumes
gen y
customer satisfaction
component parts
pure subsistence economy
50. The value of a brand to an organization
brand equity
image enhancement objective
market segmentation
product category manager