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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 new product sold with the same brand name as a strong existing brand
judgment
customer relationship management (crm)
brand extension
innovators
2. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
breakthrough opportunities
culture
diffusion
product adoption
3. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
list price
mass marketing
seasonal analysis
senior citizens
4. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
disintermediation
brand equity
consumer behavior
real income
5. A situation in which an increase or a decrease in price will not significantly affect demand for the product
nondurable goods
inelastic demand
customer satisfaction
learning
6. Tohose whose adoption to a new product signals a general acceptance of the innovation
early majority
brand equity
segments
shopping product
7. A marketing mix is tailored to fit some specific target customers
involvment
target marketing
price bundling
target costing
8. The physical good or the delivered service that supplies the desired benefit
sales or market share objective
actual product
sex roles
profit objective
9. A totally new product that creates major changes in the way we live
impulse product
discontinuous innovation
target costing
price subsidies
10. A pricing tactic of charging reduced prices for larger quantities of product
quantity discounts
portfolio management
micromarketing
fast-moving consumer goods
11. 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
classical conditioning
cycle analysis
profit objective
goods
12. A price-setting method based on estimated of demand at different prices
value pricing everyday low-pricing
demand-based pricing
perception
single target market approach
13. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
real income
marketing ethics
market manager
disposable income
14. The first segment (2.5%) of a population to adopt a new product
raw materials
segments
innovators
market segment
15. Discounts based on the total quantity bought within a specified time period
price inelastic
customer relationship management (crm)
early adopters
cumulative quantity discounts
16. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
discetionary income
test marketing
generic marketing
price subsidies
17. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
metropolitan statistical area (msa)
target costing
executive judgement
micromarketing
18. Costs involved in moving from one brand to another
product life cycle
frequent discounting
switching costs
sustainability
19. All the benefits the product will provide for consumers or business customers
core product
pure subsistence economy
umbrella pricing
SWOT analysis
20. 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
f.o.b. origin pricing
introduction
durable goods
price discrimination
21. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
random factor analysis
product adoption
metropolitan statistical area (msa)
uniform delivered pricing
22. The collaboration of two or more firms in setting prices - usually to keep prices high
price maintenance
yield-management pricing
innovation
combiners
23. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
durable goods
breakthrough opportunities
dynamically continuous innovation
mass marketing
24. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
trademark
dynamically continuous innovation
competitive advantage
regression analysis
25. Tangible products we can see - touch - smell - hear - taste
goods
brand extension
f.o.b. delivered pricing
customer satisfaction objective
26. The percentage change in unit sales that results from a percentage change in price
price elasticity
durable goods
dynamic pricing
laggards
27. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
price leadership (follower)
brand
single target market approach
captive pricing
28. Income that is adjusted to take out the effects of inflation on purchasing power
stimulus generalization
product category manager
consumer-to-consumer e-commerce
real income
29. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
test marketing
self-concept
hierarchy of needs
status symbols
30. 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
cannibalization
cumulative quantity discounts
hierarchy of needs
skimming price
31. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
operating costs
quantity discounts
birthrate
multiple target market approach
32. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
consumer behavior
involvment
licensing
specialty products
33. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
strategic business unit sbu
operating costs
laggards
random factor analysis
34. An internal state that drives us to satisfy needs by activating goal-oriented behavior
motivation
cognitive learning theory
price leadership (follower)
market manager
35. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
nondurable goods
inelastic demand
price elastic
real income
36. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
price discrimination
dynamic pricing
sales force forecasting survey
umbrella pricing
37. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition
experimental pricing
market
brand loyalty
Delphi technique
38. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
actual product
single target market approach
zone pricing
product category manager
39. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
knock-off
self-concept
product adoption
qualifying dimensions
40. Brands that the manufacturer of the product owns
co-branding
national or manufacturer brands
SWOT analysis
clustering techniques
41. Sometimes called millenials - refer to those born from 1978-1994
gen y
consumer-to-consumer e-commerce
demand-based pricing
sales forecast
42. The process of eliminating interaction between customers and service providers
durable goods
clustering techniques
disintermediation
price
43. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes
staples
combiners
internal reference price
market segmentation
44. Moral standards that guide marketing decisions and actions
hierarchy of needs
marketing ethics
tipping point
involvment
45. The pricing strategy of setting prices below cost to attract customers into a store
online auctions
opinion leader
pure subsistence economy
loss-leader pricing
46. Discounts based only on the quantity purchased in individual orders
service encounter
non-cumulative quantity discounts
early adopters
product adoption
47. A social process that directs an economy
price elastic
macro marketing
product market
social class
48. The seller fine tunes the marketing effort with info from a detailed customer database
captive pricing
customer relationship management (crm)
Delphi technique
price lining
49. An arrangement unique to business marketing in which two organizations agree to buy from each other
internal reference price
value pricing everyday low-pricing
reciprocity
f.o.b. delivered pricing
50. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
impulse product
component parts
margin
multicultural marketing