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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. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
value pricing everyday low-pricing
brand
cycle analysis
growth stage
2. Pricing that is intended to maximize customer satisfaction and retention
price subsidies
demand curve
trend analysis
customer satisfaction objective
3. 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
licensing
product category manager
capacity management
customer forecasting survey
4. A change in beliefs or actions as a reaction to real or imagined group pressure
conformity
dynamic pricing
new product failure
shopping product
5. The process by which people select - organize - and interpret information form the outside world
hierarchy of needs
fast-moving consumer goods
internal reference price
perception
6. Pricing a new product low for a limited period of time to lower the risk for a customer
trial pricing
continous innovation
judgment
price-floor pricing
7. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
bartering
operant conditioning
segments
product category manager
8. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
strategic business unit sbu
consumer behavior
image enhancement objective
co-branding
9. 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
price lining
market segmentation
variable costs
target costing
10. The process by which organization adjust their offering in an attempt to match demand
f.o.b. origin pricing
senior citizens
uniform delivered pricing
capacity management
11. An agreement between two brands to work together in marketing new or existing products
convenience product
co-branding
brand equity
combined market approach
12. The marketing mix is distinct from and better than what is available from a competitor
consumer-to-consumer e-commerce
stimulus generalization
bait and switch
differentation
13. The practice of setting a limited number of different specific prices - called price points - for items in a product line
dynamic pricing
national or manufacturer brands
price lining
sales force forecasting survey
14. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
price lining
convenience product
consideration set
augmented product
15. The first segment (2.5%) of a population to adopt a new product
status symbols
operating costs
innovators
involvment
16. Income that is adjusted to take out the effects of inflation on purchasing power
sustainability
yield-management pricing
real income
trade or functional discounts
17. A situation in which an increase or a decrease in price will not significantly affect demand for the product
bid riggin
inelastic demand
impulse product
evaluative criteria
18. Aim at one or more homogeneous segments and try to develop different marketing mix for each
mass marketing
bait and switch
core product
segments
19. Group of people within an organization who focus exclusively on the development of a new product
brand loyalty
venture teams
clustering techniques
executive judgement
20. A strategy of ducking under a competitor's price by a fixed percentage
f.o.b. delivered pricing
personality
innovation
umbrella pricing
21. Communicating with large numbers of customers at the same time
new product failure
disposable income
variable pricing
mass selling
22. Goods that a business customer consumes in a relatively short time
perceived risk
maintenance - repair - and operating products
bartering
brand manager
23. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
price
trend analysis
sales force forecasting survey
raw materials
24. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
lifestyle
SWOT analysis
test marketing
loss-leader pricing
25. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
quantity discounts
SWOT analysis
discontinuous innovation
augmented product
26. The value that customers give up - or exchange - to obtain a desired product
price inelastic
cannibalization
product adoption
price
27. A homogeneous group of customers who will respond to a marketing mix in a similiar way
zone pricing
brand extension
margin
market segment
28. 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
co-branding
consideration set
involvment
29. A strategy where prices are set significantly higher than competing brands
prestige pricing
portfolio management
personality
impulse product
30. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
price
durable goods
zone pricing
product market
31. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
judgment
licensing
pure subsistence economy
trademark
32. An integrated economic and social unit wit a large population nucleus
classical conditioning
list price
customer satisfaction objective
metropolitan statistical area (msa)
33. A new product sold with the same brand name as a strong existing brand
margin
status symbols
frequent discounting
brand extension
34. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
sustainability
nondurable goods
cause-related marketing
culture
35. The practice of linking products to a particular social cause on an ongoing or short-term basis
price lining
late majority
cause-related marketing
empty nesters
36. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
lifestyle
strategic business unit sbu
predatory pricing
experimental pricing
37. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
introduction
specialty products
early majority
sustainability
38. 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
price subsidies
early majority
senior citizens
39. Expensive goods that an organization uses in its daily operations that last for a long time
fast-moving consumer goods
image enhancement objective
equipment
f.o.b. origin pricing
40. The percentage change in unit sales that results from a percentage change in price
price elasticity
decline stage
involvment
sales force forecasting survey
41. The values - beliefs - customs - and tastes that a group of people value
senior citizens
operating costs
zone pricing
culture
42. The regret or remorse buyers may feel after making a purchase
market manager
customer forecasting survey
cognitive dissonance
decline stage
43. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
reference group
brand
product market
benefit segmentation
44. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
determining dimensions
bid riggin
sales force forecasting survey
freight absorption pricing
45. Brands that the manufacturer of the product owns
reference group
uniform delivered pricing
opportunity cost
national or manufacturer brands
46. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
nondurable goods
lifestyle
sales forecast
learning
47. What is left of disposable income after paying for necessities
strategic business unit sbu
consumer behavior
discetionary income
freight absorption pricing
48. A manager who is responsible for developing and implementing the marketing plan for a single brand
variable costs
introduction
price lining
brand manager
49. The dimensions that consumers use to compare completing product alternatives
operant conditioning
dynamic pricing
cause-related marketing
evaluative criteria
50. 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
sales forecast
subculture
target costing
time-series analysis