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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. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit
price subsidies
cost-plus pricing
impulse product
stimulus generalization
2. Income that is adjusted to take out the effects of inflation on purchasing power
real income
cognitive learning theory
target market
operant conditioning
3. Costs of production that do not change with the number of units produced
family brand
bid riggin
brand loyalty
fixed costs
4. The process of eliminating interaction between customers and service providers
disintermediation
subculture
list price
executive judgement
5. Communicating with large numbers of customers at the same time
mass selling
skimming price
operant conditioning
generic marketing
6. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
reference group
perception
gen x
sustainability
7. The dimensions that consumers use to compare completing product alternatives
reference group
evaluative criteria
universal functions of marketing
single target market approach
8. A strategy where prices are set significantly higher than competing brands
goods
clickstream analysis
prestige pricing
core product
9. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
stimulus generalization
trade or functional discounts
gen y
f.o.b. origin pricing
10. Sales forecasting based on the intuition of one or more executives
executive judgement
raw materials
competitive effect objective
segmenting
11. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
component parts
market segmentation
gen x
price maintenance
12. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
sex roles
price lining
zone pricing
regression analysis
13. An organizational unit that focuses on some product markets and is treated as a separate profit center
strategic business unit sbu
motivation
durable goods
combiners
14. The price the end customer is expected to pay as determined by the manufacturer
multiple target market approach
new product failure
price lining
list price
15. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
price lining
learning
skimming price
consumer behavior
16. A product that consumers perceive to be new and different form existing products
market test
innovation
internal reference price
unsought products
17. People whose children are grown and who are now able to spend their money in other ways
empty nesters
knock-off
zone pricing
involvment
18. Extent to which a firm fulfills a customers needs - desires - and expectations
operant conditioning
product line
sustainability
customer satisfaction
19. The difference between the cost of the product and the selling price of the product
online auctions
market segmentation
margin
actual product
20. The practice of linking products to a particular social cause on an ongoing or short-term basis
cause-related marketing
emergency product
consideration set
reciprocity
21. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
consumer behavior
competitive advantage
store or private-label brands
behavioral learning theories
22. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
multiple target market approach
heuristics
price leadership (follower)
market information function
23. 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
venture teams
unsought products
nondurable goods
hierarchy of needs
24. The collaboration of two or more firms in setting prices - usually to keep prices high
information search
processed material
venture teams
price maintenance
25. A price-setting method based on estimated of demand at different prices
component parts
decline stage
demand-based pricing
customer forecasting survey
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
late majority
customer relationship management (crm)
umbrella pricing
product market
27. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
universal functions of marketing
early majority
perception
early adopters
28. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
behavioral learning theories
price elastic
demand-based pricing
random factor analysis
29. Costs involved in moving from one brand to another
switching costs
senior citizens
reciprocity
actual product
30. Basic or necessary items that are available almost everywhere
consumer behavior
durable goods
sustainability
staples
31. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
price elasticity
introduction
hierarchy of needs
operating costs
32. The value of something that is given up to obtain something else
portfolio management
opportunity cost
discetionary income
co-branding
33. Number of babies born per 1000 people fluctuated greatly in last 65 years
behavioral learning theories
consumer satisfaction/dissatisfiaction
birthrate
multicultural marketing
34. What is left of disposable income after paying for necessities
national or manufacturer brands
discetionary income
introduction
price bundling
35. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
trend analysis
real income
fixed costs
inelastic demand
36. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
random factor analysis
product line
information search
late majority
37. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
birthrate
Delphi technique
price discrimination
market manager
38. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
product market
early majority
cost-plus pricing
prestige pricing
39. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
sustainability
price maintenance
impulse product
early majority
40. A modification of an existing product that sets one brand apart from its competitors
actual product
continous innovation
price lining
freight absorption pricing
41. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
information search
generic marketing
convenience product
evaluative criteria
42. 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
customer satisfaction
capacity management
target costing
introduction
43. A new product sold with the same brand name as a strong existing brand
baby boomers
brand loyalty
brand extension
product life cycle
44. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
non-cumulative quantity discounts
price discrimination
birthrate
product line
45. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
sales forecast
combined market approach
expert forecasting survey
bartering
46. 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
heuristics
multiple target market approach
cognitive learning theory
customer satisfaction
47. Tangible products we can see - touch - smell - hear - taste
target market
determining dimensions
goods
late majority
48. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
price bundling
variable costs
freight absorption pricing
target marketing
49. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
capacity management
disposable income
dynamic pricing
brand manager
50. A pricing tactic in which the seller absorbs the total cost of transportation
freight absorption pricing
cycle analysis
cost-plus pricing
opportunity cost