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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. 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
fast-moving consumer goods
unsought products
culture
market segmentation
2. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
image enhancement objective
maturity stage
micromarketing
mass selling
3. Moral standards that guide marketing decisions and actions
marketing ethics
lifestyle
micromarketing
convenience product
4. A pricing tactic of charging reduced prices for larger quantities of product
knock-off
quantity discounts
executive judgement
cycle analysis
5. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
qualifying dimensions
multicultural marketing
sales or market share objective
non-cumulative quantity discounts
6. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
diffusion
product adoption
introduction
prestige pricing
7. The dimensions that consumers use to compare completing product alternatives
evaluative criteria
perceived risk
growth stage
self-concept
8. Selling two or more goods or services as a single package for one price
price bundling
generic marketing
sustainability
differentation
9. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
judgment
emergency product
stimulus generalization
service encounter
10. A product that consumers perceive to be new and different form existing products
customer relationship management (crm)
multicultural marketing
innovation
product life cycle
11. The division of a market according to benefits that consumers want from the product
time-series analysis
subculture
benefit segmentation
customer satisfaction
12. Costs of production that do not change with the number of units produced
fixed costs
evaluative criteria
innovation
market test
13. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
product market
expert forecasting survey
shopping product
macro marketing
14. A new product sold with the same brand name as a strong existing brand
growth stage
brand extension
gen y
market manager
15. The practice of exchanging a good or service for another good or service of like value
information search
bartering
classical conditioning
segmenting
16. 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
behavioral learning theories
cost of ownership
market
nondurable goods
17. A marketing mix is tailored to fit some specific target customers
attitude
family brand
target marketing
price
18. 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
non-cumulative quantity discounts
lifestyle
market
market information function
19. 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
fast-moving consumer goods
late majority
gen x
new product failure
20. Tangible products we can see - touch - smell - hear - taste
involvment
innovation
goods
price elastic
21. 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
bait and switch
shopping product
micromarketing
opinion leader
22. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
growth stage
laggards
generic marketing
price discrimination
23. 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
penetration strategy
empty nesters
family life cycle
demand curve
24. 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
social class
learning
heuristics
bid riggin
25. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
price elasticity
brand
breakthrough opportunities
SWOT analysis
26. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
price
lifestyle
trend analysis
margin
27. A means of measuring a website's success by tracking customers' movement around the company website
breakthrough opportunities
market test
benefit segmentation
clickstream analysis
28. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
market segmentation
introduction
dynamically continuous innovation
prestige pricing
29. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
social class
yield-management pricing
venture teams
non-cumulative quantity discounts
30. The value that customers give up - or exchange - to obtain a desired product
consideration set
service encounter
price
cognitive dissonance
31. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
competitive advantage
shopping product
random factor analysis
trend analysis
32. A totally new product that creates major changes in the way we live
trade or functional discounts
discontinuous innovation
specialty products
variable pricing
33. An organizational unit that focuses on some product markets and is treated as a separate profit center
trial pricing
freight absorption pricing
strategic business unit sbu
early adopters
34. Brands that are owned and sold by a specific - retailer or distributor
opinion leader
store or private-label brands
licensing
image enhancement objective
35. The last consumers to adopt the innovation
competitive effect objective
market segment
laggards
brand
36. Income that is adjusted to take out the effects of inflation on purchasing power
real income
staples
multicultural marketing
determining dimensions
37. An internal state that drives us to satisfy needs by activating goal-oriented behavior
product market
motivation
subculture
customer relationship management (crm)
38. An integrated economic and social unit wit a large population nucleus
new product failure
disintermediation
early adopters
metropolitan statistical area (msa)
39. When a percentage change in price results in a larger percentage change in the quantity demanded
family life cycle
price elastic
core product
product line
40. A social process that directs an economy
macro marketing
venture teams
dynamic pricing
core product
41. 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
goods
knock-off
trend analysis
classical conditioning
42. The percentage change in unit sales that results from a percentage change in price
demand-based pricing
late majority
price elasticity
product line
43. Pricing a new product low for a limited period of time to lower the risk for a customer
price discrimination
mass selling
trial pricing
competitive effect objective
44. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
status symbols
disintermediation
product adoption
multiple target market approach
45. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
generic marketing
metropolitan statistical area (msa)
uniform delivered pricing
combiners
46. Group of people within an organization who focus exclusively on the development of a new product
venture teams
consumer-to-consumer e-commerce
trial pricing
qualifying dimensions
47. 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
dynamically continuous innovation
economics of scale
maintenance - repair - and operating products
licensing
48. The practice of linking products to a particular social cause on an ongoing or short-term basis
status symbols
impulse product
cause-related marketing
opinion leader
49. A change in an existing product that requires a moderate amount of learning or behavior change
loss-leader pricing
augmented product
dynamically continuous innovation
market manager
50. People born between 1946 and 1964
lifestyle
processed material
baby boomers
universal functions of marketing