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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. Pricing that is intended to maximize customer satisfaction and retention
price inelastic
cognitive learning theory
consideration set
customer satisfaction objective
2. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
variable pricing
multicultural marketing
price discrimination
sales forecast
3. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
regression analysis
target costing
switching costs
seasonal analysis
4. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
price discrimination
real income
clickstream analysis
internal reference price
5. Costs involved in using a product
operating costs
image enhancement objective
sales force forecasting survey
umbrella pricing
6. Pricing a new product low for a limited period of time to lower the risk for a customer
gen x
perception
trial pricing
sustainability
7. A social process that directs an economy
maturity stage
macro marketing
trend analysis
heuristics
8. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
price discrimination
bid riggin
social class
early adopters
9. A means of measuring a website's success by tracking customers' movement around the company website
perception
target costing
clickstream analysis
durable goods
10. The relative importance of perceived consequences of the purchase to a consumer
test marketing
involvment
expert forecasting survey
national or manufacturer brands
11. A product that consumers perceive to be new and different form existing products
cumulative quantity discounts
innovation
reciprocity
impulse product
12. The practice of exchanging a good or service for another good or service of like value
bait and switch
macro marketing
predatory pricing
bartering
13. A homogeneous group of customers who will respond to a marketing mix in a similiar way
motivation
f.o.b. origin pricing
market segment
target marketing
14. Charging a very high - premium price for a new product
breakthrough opportunities
skimming price
cognitive learning theory
reference group
15. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
convenience product
uniform delivered pricing
clickstream analysis
market segment
16. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
customer forecasting survey
random factor analysis
target marketing
cognitive learning theory
17. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
behavioral learning theories
generic marketing
price elasticity
market
18. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
trademark
perceived risk
internal reference price
shopping product
19. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
opinion leader
sales force forecasting survey
segments
universal functions of marketing
20. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
metropolitan statistical area (msa)
brand manager
uniform delivered pricing
continous innovation
21. All the benefits the product will provide for consumers or business customers
non-cumulative quantity discounts
impulse product
core product
product market
22. The value of a brand to an organization
brand equity
licensing
fast-moving consumer goods
perceived risk
23. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
disposable income
value pricing everyday low-pricing
mass marketing
stimulus generalization
24. Those that actually affect the customers purchase of specific product or brand in a product market
innovation
family life cycle
value pricing everyday low-pricing
determining dimensions
25. An arrangement unique to business marketing in which two organizations agree to buy from each other
bid riggin
seasonal analysis
reciprocity
operant conditioning
26. 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
new product failure
status symbols
late majority
benefit segmentation
27. The psychological characteristics that consistently influence the way a person responds to situations in the environment
personality
segmenting
macro marketing
captive pricing
28. 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
hierarchy of needs
evaluative criteria
dynamic pricing
mass selling
29. An organizational unit that focuses on some product markets and is treated as a separate profit center
cognitive learning theory
late majority
strategic business unit sbu
generic marketing
30. The seller fine tunes the marketing effort with info from a detailed customer database
stimulus generalization
pure subsistence economy
customer relationship management (crm)
executive judgement
31. Combining two or more submarkets into one larger target market as a basis for one strategy
experimental pricing
cognitive learning theory
combined market approach
consumer behavior
32. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
unsought products
product life cycle
conformity
store or private-label brands
33. A brand that a group of individual products or individual brands share
family brand
consideration set
venture teams
seasonal analysis
34. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
expert forecasting survey
continous innovation
fixed costs
store or private-label brands
35. Communicating with large numbers of customers at the same time
maintenance - repair - and operating products
online auctions
mass selling
family life cycle
36. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
online auctions
cycle analysis
brand equity
price elastic
37. A firm's total product offering designed to satisfy a single need or desire of target customers
price lining
brand loyalty
price leadership (follower)
product line
38. The collaboration of two or more firms in setting prices - usually to keep prices high
cognitive dissonance
micromarketing
stimulus generalization
price maintenance
39. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer
maturity stage
clustering techniques
heuristics
f.o.b. origin pricing
40. Products we purchase when we're in dire need
price maintenance
combiners
emergency product
mass marketing
41. The actual interaction between the customer and the service provider
service encounter
unsought products
laggards
innovators
42. The dimensions that consumers use to compare completing product alternatives
value pricing everyday low-pricing
differentation
evaluative criteria
fast-moving consumer goods
43. 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
innovators
cause-related marketing
f.o.b. delivered pricing
price leadership (follower)
44. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri
margin
variable pricing
hierarchy of needs
target costing
45. The regret or remorse buyers may feel after making a purchase
breakthrough opportunities
loss-leader pricing
economics of scale
cognitive dissonance
46. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories
opinion leader
price-floor pricing
prestige pricing
augmented product
47. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
lifestyle
product category manager
maturity stage
target costing
48. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
f.o.b. origin pricing
fixed costs
status symbols
nondurable goods
49. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
consumer-to-consumer e-commerce
breakthrough opportunities
strategic business unit sbu
augmented product
50. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
knock-off
list price
self-concept
opinion leader