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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 first segment (2.5%) of a population to adopt a new product
seasonal analysis
gen y
family life cycle
innovators
2. 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
time-series analysis
captive pricing
classical conditioning
metropolitan statistical area (msa)
3. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production
price-floor pricing
multicultural marketing
cognitive learning theory
variable pricing
4. The difference between the cost of the product and the selling price of the product
product category manager
profit objective
margin
trial pricing
5. The process of eliminating interaction between customers and service providers
customer forecasting survey
disintermediation
augmented product
goods
6. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses
non-cumulative quantity discounts
cost-plus pricing
time-series analysis
brand loyalty
7. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
attitude
core product
brand equity
senior citizens
8. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
differentation
family life cycle
component parts
continous innovation
9. 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
quantity discounts
benefit segmentation
brand
goods
10. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country
customer relationship management (crm)
predatory pricing
economics of scale
trademark
11. Income that is adjusted to take out the effects of inflation on purchasing power
product category manager
cumulative quantity discounts
frequent discounting
real income
12. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
perception
competitive advantage
regression analysis
growth stage
13. A price-setting method based on estimated of demand at different prices
demand-based pricing
margin
component parts
market
14. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
perception
variable pricing
breakthrough opportunities
cognitive dissonance
15. The actual interaction between the customer and the service provider
quantity discounts
umbrella pricing
service encounter
f.o.b. origin pricing
16. The practice of exchanging a good or service for another good or service of like value
quantity discounts
bartering
maturity stage
marketing ethics
17. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
breakthrough opportunities
switching costs
trial pricing
mass marketing
18. Brands that are owned and sold by a specific - retailer or distributor
executive judgement
store or private-label brands
expert forecasting survey
social class
19. Those that actually affect the customers purchase of specific product or brand in a product market
determining dimensions
consumer-to-consumer e-commerce
prestige pricing
perception
20. The overall feelings or attitude a person has about a product after purchasing it
classical conditioning
demand curve
consumer satisfaction/dissatisfiaction
culture
21. The value of a brand to an organization
qualifying dimensions
price inelastic
brand equity
breakthrough opportunities
22. 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
operant conditioning
cognitive learning theory
price discrimination
time-series analysis
23. Products that consumers purchase to signal membership in a desirable social class
status symbols
strategic business unit sbu
cause-related marketing
penetration strategy
24. Relevant to including a customer type in a product market
target costing
qualifying dimensions
consumer behavior
list price
25. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
product adoption
convenience product
trend analysis
predatory pricing
26. Basic or necessary items that are available almost everywhere
skimming price
staples
trade or functional discounts
cost-plus pricing
27. An organizational unit that focuses on some product markets and is treated as a separate profit center
price inelastic
early majority
strategic business unit sbu
frequent discounting
28. A strategy of ducking under a competitor's price by a fixed percentage
umbrella pricing
information search
family life cycle
unsought products
29. 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
dynamically continuous innovation
bait and switch
metropolitan statistical area (msa)
penetration strategy
30. 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
late majority
product adoption
nondurable goods
metropolitan statistical area (msa)
31. A pricing tactic in which the seller absorbs the total cost of transportation
freight absorption pricing
lifestyle
price discrimination
executive judgement
32. The strategy of selling products at unreasonably low prices to drive competitors out of business
predatory pricing
birthrate
demand-based pricing
market manager
33. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
birthrate
regression analysis
reciprocity
augmented product
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
value pricing everyday low-pricing
consumer behavior
opinion leader
perception
35. 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
target market
multicultural marketing
customer satisfaction objective
demand curve
36. Pricing that is intended to have an effect on the marketing efforts of the competition
raw materials
product adoption
competitive effect objective
attitude
37. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
bid riggin
demand curve
shopping product
loss-leader pricing
38. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
behavioral learning theories
cannibalization
gen y
introduction
39. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
status symbols
maturity stage
customer forecasting survey
f.o.b. origin pricing
40. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
trademark
penetration strategy
price discrimination
clustering techniques
41. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
trade or functional discounts
dynamic pricing
frequent discounting
price subsidies
42. A mental rule of thumb that leads to a speedy decision by simplifying the process
stimulus generalization
empty nesters
heuristics
sex roles
43. A strategy of experimenting with prices until the price that generates the highest profitability is found
operant conditioning
skimming price
sales force forecasting survey
experimental pricing
44. The practice of linking products to a particular social cause on an ongoing or short-term basis
innovators
innovation
cause-related marketing
cannibalization
45. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline
product category manager
tipping point
profit objective
cannibalization
46. The marketing mix is distinct from and better than what is available from a competitor
customer relationship management (crm)
differentation
trial pricing
personality
47. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
skimming price
continous innovation
pure subsistence economy
judgment
48. Extent to which a firm fulfills a customers needs - desires - and expectations
price lining
innovators
customer satisfaction
core product
49. Charging a very high - premium price for a new product
durable goods
predatory pricing
market manager
skimming price
50. Communicating with large numbers of customers at the same time
innovation
price inelastic
involvment
mass selling