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Test your basic knowledge |
Marketing Basics
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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. Costs involved in using a product
switching costs
price leadership (follower)
unsought products
operating costs
2. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
operating costs
shopping product
market manager
consumer-to-consumer e-commerce
3. A homogeneous group of customers who will respond to a marketing mix in a similiar way
margin
market segment
impulse product
cannibalization
4. The value of something that is given up to obtain something else
convenience product
motivation
opportunity cost
skimming price
5. 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
tipping point
predatory pricing
breakthrough opportunities
consumer behavior
6. When a percentage change in price results in a larger percentage change in the quantity demanded
consumer-to-consumer e-commerce
customer forecasting survey
price elastic
cannibalization
7. Products we purchase when we're in dire need
emergency product
segments
portfolio management
target costing
8. 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
target market
nondurable goods
price-floor pricing
empty nesters
9. A strategy where prices are set significantly higher than competing brands
internal reference price
bait and switch
prestige pricing
culture
10. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
emergency product
multicultural marketing
clustering techniques
margin
11. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
umbrella pricing
customer forecasting survey
nondurable goods
qualifying dimensions
12. What is left after taxes
marketing ethics
processed material
combined market approach
disposable income
13. The actual interaction between the customer and the service provider
service encounter
learning
strategic business unit sbu
random factor analysis
14. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
trend analysis
product adoption
early adopters
sales force forecasting survey
15. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
judgment
maintenance - repair - and operating products
attitude
information search
16. Tohose whose adoption to a new product signals a general acceptance of the innovation
early majority
freight absorption pricing
executive judgement
market manager
17. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
market manager
laggards
nondurable goods
classical conditioning
18. Discounts based only on the quantity purchased in individual orders
non-cumulative quantity discounts
bid riggin
price elastic
list price
19. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
motivation
price bundling
portfolio management
heuristics
20. The loss of sales of an existing product when a new item in a product line or product family is introduced
family life cycle
cannibalization
qualifying dimensions
decline stage
21. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
umbrella pricing
self-concept
cumulative quantity discounts
22. A pricing strategy that considers the lifetime cost of using the product
cost of ownership
target marketing
price bundling
augmented product
23. Income that is adjusted to take out the effects of inflation on purchasing power
fixed costs
real income
brand
clustering techniques
24. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
raw materials
cause-related marketing
early adopters
convenience product
25. Moral standards that guide marketing decisions and actions
SWOT analysis
marketing ethics
price elasticity
product market
26. The dimensions that consumers use to compare completing product alternatives
variable pricing
image enhancement objective
evaluative criteria
market segmentation
27. Sometimes called millenials - refer to those born from 1978-1994
multicultural marketing
augmented product
gen y
heuristics
28. The practice of exchanging a good or service for another good or service of like value
specialty products
cycle analysis
bartering
market segmentation
29. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
trademark
stimulus generalization
trade or functional discounts
component parts
30. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
segments
dynamic pricing
competitive advantage
market information function
31. Goods that a business customer consumes in a relatively short time
combined market approach
maintenance - repair - and operating products
cognitive learning theory
baby boomers
32. An agreement between two brands to work together in marketing new or existing products
co-branding
internal reference price
price
discetionary income
33. An internal state that drives us to satisfy needs by activating goal-oriented behavior
online auctions
motivation
seasonal analysis
equipment
34. A relatively permanent change in behavior caused by acquired information or experience
learning
actual product
image enhancement objective
customer satisfaction objective
35. Number of babies born per 1000 people fluctuated greatly in last 65 years
cycle analysis
late majority
birthrate
competitive effect objective
36. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
profit objective
price lining
maturity stage
laggards
37. A product people often buy on the spur of the moment
strategic business unit sbu
competitive advantage
specialty products
impulse product
38. A marketing mix is tailored to fit some specific target customers
real income
capacity management
target marketing
convenience product
39. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
competitive advantage
actual product
competitive effect objective
inelastic demand
40. A firm's total product offering designed to satisfy a single need or desire of target customers
qualifying dimensions
actual product
product life cycle
product line
41. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
market segmentation
behavioral learning theories
Delphi technique
price bundling
42. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
mass marketing
yield-management pricing
differentation
national or manufacturer brands
43. A manager who is responsible for developing and implementing the marketing plan for a single brand
impulse product
loss-leader pricing
brand manager
customer satisfaction
44. A situation in which an increase or a decrease in price will not significantly affect demand for the product
inelastic demand
birthrate
diffusion
staples
45. Charging a very high - premium price for a new product
reciprocity
skimming price
cognitive learning theory
staples
46. The process by which the use of a product spreads throughout the population
clustering techniques
diffusion
macro marketing
sex roles
47. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
attitude
tipping point
convenience product
Delphi technique
48. A means of characterizing consumers based on the different family stages they pass through as they grow older
specialty products
competitive advantage
variable pricing
family life cycle
49. Pricing that is intended to maximize customer satisfaction and retention
economics of scale
national or manufacturer brands
customer satisfaction objective
trend analysis
50. Pricing products with a focus on a target level of profit growth or a desired net profit margin
durable goods
quantity discounts
price subsidies
profit objective
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