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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. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
expert forecasting survey
benefit segmentation
venture teams
fast-moving consumer goods
2. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
product adoption
predatory pricing
raw materials
shopping product
3. Segmenting the market and picking one of the homogeneous segments as the firms target market
single target market approach
bait and switch
brand loyalty
cognitive dissonance
4. Costs of production that do not change with the number of units produced
prestige pricing
skimming price
combined market approach
fixed costs
5. 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
market segment
price-floor pricing
core product
dynamically continuous innovation
6. A strategy of frequently using sale prices to increase sales volume
frequent discounting
product life cycle
macro marketing
self-concept
7. The value of a brand to an organization
brand manager
family brand
target market
brand equity
8. Pricing that is intended to maximize customer satisfaction and retention
customer forecasting survey
involvment
convenience product
customer satisfaction objective
9. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
discetionary income
innovators
actual product
trade or functional discounts
10. The process by which the use of a product spreads throughout the population
diffusion
umbrella pricing
market information function
online auctions
11. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
variable costs
economics of scale
competitive advantage
price elastic
12. A new product that copies with slight modification the design of an original product
shopping product
market segmentation
knock-off
consumer satisfaction/dissatisfiaction
13. Moral standards that guide marketing decisions and actions
marketing ethics
dynamic pricing
variable costs
baby boomers
14. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
co-branding
convenience product
micromarketing
price maintenance
15. The price the end customer is expected to pay as determined by the manufacturer
self-concept
consideration set
convenience product
list price
16. Group of people within an organization who focus exclusively on the development of a new product
umbrella pricing
portfolio management
venture teams
zone pricing
17. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
price subsidies
portfolio management
cognitive learning theory
generic marketing
18. 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
segmenting
trademark
innovators
regression analysis
19. Products that consumers purchase to signal membership in a desirable social class
stimulus generalization
expert forecasting survey
status symbols
growth stage
20. 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
involvment
brand
classical conditioning
21. Sometimes called millenials - refer to those born from 1978-1994
market test
sustainability
gen y
augmented product
22. A manager who is responsible for developing and implementing the marketing plan for a single brand
venture teams
brand manager
laggards
durable goods
23. The first segment (2.5%) of a population to adopt a new product
early majority
venture teams
demand-based pricing
innovators
24. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
freight absorption pricing
early adopters
introduction
online auctions
25. A pricing tactic in which customers in different geographic zones pay different transportation rates
internal reference price
variable costs
test marketing
zone pricing
26. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
yield-management pricing
reference group
gen x
baby boomers
27. 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
price maintenance
social class
tipping point
multicultural marketing
28. The values - beliefs - customs - and tastes that a group of people value
culture
operating costs
customer satisfaction
Delphi technique
29. A modification of an existing product that sets one brand apart from its competitors
continous innovation
expert forecasting survey
sales forecast
non-cumulative quantity discounts
30. When each family unit produces everything it consumes
discontinuous innovation
evaluative criteria
trend analysis
pure subsistence economy
31. Pricing intended to establish a desired image or positioning to prospective customers
image enhancement objective
gen x
penetration strategy
component parts
32. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
family life cycle
uniform delivered pricing
market manager
differentation
33. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
clickstream analysis
sales force forecasting survey
price elasticity
market test
34. A means of measuring a website's success by tracking customers' movement around the company website
service encounter
product adoption
introduction
clickstream analysis
35. The division of a market according to benefits that consumers want from the product
sales force forecasting survey
perception
market
benefit segmentation
36. A price-setting method based on estimated of demand at different prices
target market
venture teams
demand-based pricing
opinion leader
37. The process by which organization adjust their offering in an attempt to match demand
economics of scale
capacity management
market segment
growth stage
38. A flexible pricing strategy that reflects what individual customers are willing to pay
variable pricing
demand-based pricing
empty nesters
breakthrough opportunities
39. The seller fine tunes the marketing effort with info from a detailed customer database
knock-off
customer relationship management (crm)
zone pricing
umbrella pricing
40. The relative importance of perceived consequences of the purchase to a consumer
involvment
convenience product
online auctions
nondurable goods
41. Costs involved in moving from one brand to another
innovation
unsought products
switching costs
metropolitan statistical area (msa)
42. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
universal functions of marketing
f.o.b. origin pricing
specialty products
perceived risk
43. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief
price inelastic
conformity
price subsidies
dynamically continuous innovation
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
target costing
lifestyle
convenience product
variable pricing
45. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
combined market approach
subculture
qualifying dimensions
bait and switch
46. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
portfolio management
consumer-to-consumer e-commerce
nondurable goods
stimulus generalization
47. A fairly homogeneous group of customers to whom a company wishes to appeal
target market
disposable income
impulse product
brand loyalty
48. People whose children are grown and who are now able to spend their money in other ways
behavioral learning theories
empty nesters
co-branding
market manager
49. The marketing mix is distinct from and better than what is available from a competitor
strategic business unit sbu
differentation
shopping product
operant conditioning
50. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
augmented product
brand manager
dynamic pricing
licensing