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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 third and longest stage in the product life cycle - in which sales peak and profit margin narrows
price inelastic
benefit segmentation
convenience product
maturity stage
2. Segmenting the market and picking one of the homogeneous segments as the firms target market
predatory pricing
macro marketing
expert forecasting survey
single target market approach
3. A new product that does not reach expectations for success - failing to reach sales objectives set
social class
personality
late majority
new product failure
4. Brands that are owned and sold by a specific - retailer or distributor
specialty products
cycle analysis
test marketing
store or private-label brands
5. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
list price
customer forecasting survey
senior citizens
multiple target market approach
6. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
uniform delivered pricing
customer relationship management (crm)
brand
product category manager
7. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
qualifying dimensions
cycle analysis
attitude
component parts
8. A totally new product that creates major changes in the way we live
multicultural marketing
discontinuous innovation
market segment
personality
9. A social process that directs an economy
segments
personality
macro marketing
f.o.b. origin pricing
10. The psychological characteristics that consistently influence the way a person responds to situations in the environment
raw materials
personality
clustering techniques
stimulus generalization
11. 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
qualifying dimensions
demand curve
prestige pricing
umbrella pricing
12. The process of eliminating interaction between customers and service providers
national or manufacturer brands
cognitive learning theory
disintermediation
demand-based pricing
13. A pricing tactic in which customers in different geographic zones pay different transportation rates
price-floor pricing
zone pricing
test marketing
impulse product
14. An integrated economic and social unit wit a large population nucleus
information search
processed material
metropolitan statistical area (msa)
personality
15. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
growth stage
demand-based pricing
market
price maintenance
16. E-commerce that allows shoppers to purchase products through online bidding
online auctions
shopping product
venture teams
multiple target market approach
17. Discounts based only on the quantity purchased in individual orders
switching costs
consumer behavior
non-cumulative quantity discounts
generic marketing
18. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
capacity management
lifestyle
senior citizens
target market
19. A marketing mix is tailored to fit some specific target customers
target marketing
brand
emergency product
price elastic
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
strategic business unit sbu
trade or functional discounts
f.o.b. origin pricing
continous innovation
21. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
self-concept
behavioral learning theories
consumer-to-consumer e-commerce
nondurable goods
22. The relative importance of perceived consequences of the purchase to a consumer
status symbols
involvment
convenience product
raw materials
23. Costs involved in moving from one brand to another
equipment
brand loyalty
early adopters
switching costs
24. 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
regression analysis
brand loyalty
specialty products
time-series analysis
25. Brands that the manufacturer of the product owns
late majority
goods
national or manufacturer brands
sales forecast
26. A modification of an existing product that sets one brand apart from its competitors
SWOT analysis
price elastic
pure subsistence economy
continous innovation
27. The collaboration of two or more firms in setting prices - usually to keep prices high
non-cumulative quantity discounts
price maintenance
processed material
disintermediation
28. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention
trend analysis
perception
unsought products
price bundling
29. Those that actually affect the customers purchase of specific product or brand in a product market
bid riggin
hierarchy of needs
sales or market share objective
determining dimensions
30. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
customer forecasting survey
demand-based pricing
market manager
cannibalization
31. The difference between the cost of the product and the selling price of the product
margin
learning
determining dimensions
conformity
32. To try to increase the size of their target markets by combining two or more segments
combiners
skimming price
customer relationship management (crm)
consumer behavior
33. The process by which the use of a product spreads throughout the population
price lining
actual product
national or manufacturer brands
diffusion
34. Number of babies born per 1000 people fluctuated greatly in last 65 years
family brand
birthrate
actual product
goods
35. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
capacity management
judgment
generic marketing
demand-based pricing
36. Selling two or more goods or services as a single package for one price
price bundling
cumulative quantity discounts
fast-moving consumer goods
lifestyle
37. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories
expert forecasting survey
opinion leader
equipment
classical conditioning
38. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
discontinuous innovation
economics of scale
combiners
price bundling
39. The process by which organization adjust their offering in an attempt to match demand
capacity management
cognitive dissonance
clickstream analysis
social class
40. A brand that a group of individual products or individual brands share
mass selling
test marketing
family brand
cognitive learning theory
41. A strategy where prices are set significantly higher than competing brands
early adopters
hierarchy of needs
attitude
prestige pricing
42. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs
market
consumer-to-consumer e-commerce
service encounter
co-branding
43. 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
gen y
seasonal analysis
SWOT analysis
price-floor pricing
44. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
trademark
random factor analysis
price maintenance
price elasticity
45. A pricing strategy in which a firm sets prices that provide ultimate value to customers
attitude
disintermediation
hierarchy of needs
value pricing everyday low-pricing
46. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
product market
captive pricing
diffusion
durable goods
47. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
co-branding
opinion leader
sustainability
market segmentation
48. 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
combiners
inelastic demand
seasonal analysis
price subsidies
49. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
brand extension
customer satisfaction
price maintenance
cycle analysis
50. Those who adopt an innovation early in the diffusion process but later than the innovators
judgment
service encounter
early adopters
umbrella pricing