SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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. Those who adopt an innovation early in the diffusion process but later than the innovators
early adopters
perceived risk
prestige pricing
frequent discounting
2. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
market segment
processed material
metropolitan statistical area (msa)
product market
3. 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
value pricing everyday low-pricing
late majority
regression analysis
f.o.b. delivered pricing
4. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
perceived risk
margin
component parts
bid riggin
5. Tangible products we can see - touch - smell - hear - taste
goods
classical conditioning
specialty products
empty nesters
6. Those that actually affect the customers purchase of specific product or brand in a product market
determining dimensions
sustainability
fast-moving consumer goods
prestige pricing
7. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
opinion leader
customer forecasting survey
introduction
cause-related marketing
8. An integrated economic and social unit wit a large population nucleus
innovation
metropolitan statistical area (msa)
store or private-label brands
price-floor pricing
9. 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
price elastic
variable costs
trademark
skimming price
10. The price the end customer is expected to pay as determined by the manufacturer
operant conditioning
list price
family life cycle
raw materials
11. The regret or remorse buyers may feel after making a purchase
goods
emergency product
cognitive dissonance
market test
12. A firm's total product offering designed to satisfy a single need or desire of target customers
combined market approach
product line
decline stage
maintenance - repair - and operating products
13. A strategy where prices are set significantly higher than competing brands
expert forecasting survey
pure subsistence economy
prestige pricing
involvment
14. 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
time-series analysis
operant conditioning
trend analysis
staples
15. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
new product failure
random factor analysis
multiple target market approach
learning
16. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition
fixed costs
operant conditioning
brand
family life cycle
17. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
learning
growth stage
penetration strategy
cycle analysis
18. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
product adoption
subculture
empty nesters
competitive advantage
19. The set of alternative brands the consumer is considering for the decision process
seasonal analysis
consideration set
fixed costs
mass selling
20. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time
economics of scale
licensing
inelastic demand
introduction
21. Charging a very high - premium price for a new product
price bundling
skimming price
real income
trademark
22. The practice of exchanging a good or service for another good or service of like value
time-series analysis
universal functions of marketing
bid riggin
bartering
23. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
durable goods
yield-management pricing
bait and switch
nondurable goods
24. Costs involved in moving from one brand to another
consumer satisfaction/dissatisfiaction
target marketing
switching costs
cycle analysis
25. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
trend analysis
macro marketing
consumer satisfaction/dissatisfiaction
price maintenance
26. Pricing that is intended to have an effect on the marketing efforts of the competition
early majority
competitive effect objective
family brand
knock-off
27. Pricing a new product low for a limited period of time to lower the risk for a customer
regression analysis
dynamic pricing
trial pricing
penetration strategy
28. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
internal reference price
trademark
gen x
universal functions of marketing
29. When each family unit produces everything it consumes
sales forecast
penetration strategy
pure subsistence economy
expert forecasting survey
30. A fairly homogeneous group of customers to whom a company wishes to appeal
co-branding
target market
core product
switching costs
31. The psychological characteristics that consistently influence the way a person responds to situations in the environment
personality
consideration set
perceived risk
innovators
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
cycle analysis
specialty products
sales or market share objective
perceived risk
33. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
consumer-to-consumer e-commerce
portfolio management
clustering techniques
profit objective
34. 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
market test
price-floor pricing
brand manager
tipping point
35. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
demand-based pricing
f.o.b. delivered pricing
variable costs
skimming price
36. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
fixed costs
demand-based pricing
raw materials
cannibalization
37. 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
executive judgement
frequent discounting
stimulus generalization
classical conditioning
38. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
portfolio management
consumer behavior
random factor analysis
demand curve
39. 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
brand loyalty
value pricing everyday low-pricing
social class
marketing ethics
40. A relatively permanent change in behavior caused by acquired information or experience
new product failure
personality
learning
predatory pricing
41. An agreement between two brands to work together in marketing new or existing products
executive judgement
prestige pricing
product category manager
co-branding
42. A modification of an existing product that sets one brand apart from its competitors
breakthrough opportunities
product market
continous innovation
perception
43. The division of a market according to benefits that consumers want from the product
benefit segmentation
umbrella pricing
augmented product
co-branding
44. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
component parts
prestige pricing
clickstream analysis
motivation
45. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
benefit segmentation
seasonal analysis
universal functions of marketing
judgment
46. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
product adoption
internal reference price
skimming price
family brand
47. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
goods
staples
generic marketing
innovation
48. 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
micromarketing
price discrimination
cognitive learning theory
brand extension
49. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
judgment
price elasticity
national or manufacturer brands
sustainability
50. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
dynamic pricing
test marketing
tipping point
SWOT analysis