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Test your basic knowledge |
Marketing Basics
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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 pricing strategy of setting prices below cost to attract customers into a store
economics of scale
metropolitan statistical area (msa)
loss-leader pricing
nondurable goods
2. Those that actually affect the customers purchase of specific product or brand in a product market
cannibalization
venture teams
determining dimensions
tipping point
3. 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
marketing ethics
price-floor pricing
inelastic demand
segmenting
4. 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
time-series analysis
customer satisfaction
demand curve
5. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
loss-leader pricing
target marketing
yield-management pricing
segmenting
6. Income that is adjusted to take out the effects of inflation on purchasing power
breakthrough opportunities
real income
personality
subculture
7. 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
goods
social class
bid riggin
target market
8. Discounts based on the total quantity bought within a specified time period
late majority
cumulative quantity discounts
product life cycle
impulse product
9. An agreement between two brands to work together in marketing new or existing products
judgment
co-branding
price lining
inelastic demand
10. The practice of linking products to a particular social cause on an ongoing or short-term basis
cause-related marketing
family life cycle
bid riggin
attitude
11. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
shopping product
baby boomers
maintenance - repair - and operating products
random factor analysis
12. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
price maintenance
product line
frequent discounting
trade or functional discounts
13. The psychological characteristics that consistently influence the way a person responds to situations in the environment
fast-moving consumer goods
price elastic
differentation
personality
14. A strategy of experimenting with prices until the price that generates the highest profitability is found
diffusion
experimental pricing
cost of ownership
baby boomers
15. Pricing intended to establish a desired image or positioning to prospective customers
uniform delivered pricing
hierarchy of needs
store or private-label brands
image enhancement objective
16. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
diffusion
price
self-concept
competitive advantage
17. A strategy where prices are set significantly higher than competing brands
prestige pricing
trend analysis
bait and switch
determining dimensions
18. Tangible products we can see - touch - smell - hear - taste
heuristics
price subsidies
goods
yield-management pricing
19. Costs involved in using a product
operating costs
price
capacity management
behavioral learning theories
20. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
consumer behavior
perceived risk
convenience product
disintermediation
21. The practice of setting a limited number of different specific prices - called price points - for items in a product line
maintenance - repair - and operating products
self-concept
augmented product
price lining
22. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
combiners
uniform delivered pricing
specialty products
list price
23. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
clustering techniques
price discrimination
disposable income
continous innovation
24. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
equipment
experimental pricing
mass selling
SWOT analysis
25. A product that consumers perceive to be new and different form existing products
innovation
market segmentation
expert forecasting survey
brand equity
26. A new product sold with the same brand name as a strong existing brand
brand extension
processed material
umbrella pricing
market segment
27. Communicating with large numbers of customers at the same time
mass selling
cycle analysis
store or private-label brands
equipment
28. Pricing that is intended to have an effect on the marketing efforts of the competition
reference group
time-series analysis
profit objective
competitive effect objective
29. A manager who is responsible for developing and implementing the marketing plan for a single brand
brand manager
early adopters
price bundling
customer satisfaction
30. The dimensions that consumers use to compare completing product alternatives
inelastic demand
evaluative criteria
price inelastic
customer forecasting survey
31. A social process that directs an economy
macro marketing
customer satisfaction objective
inelastic demand
cost-plus pricing
32. Combining two or more submarkets into one larger target market as a basis for one strategy
combined market approach
consumer satisfaction/dissatisfiaction
zone pricing
heuristics
33. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
convenience product
market manager
umbrella pricing
price elastic
34. 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
unsought products
attitude
predatory pricing
cognitive dissonance
35. Costs of production that do not change with the number of units produced
fast-moving consumer goods
multicultural marketing
capacity management
fixed costs
36. People born between 1946 and 1964
price elastic
heuristics
gen x
baby boomers
37. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
generic marketing
trial pricing
raw materials
bartering
38. The difference between the cost of the product and the selling price of the product
price elastic
knock-off
margin
conformity
39. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
price discrimination
product adoption
augmented product
multiple target market approach
40. An integrated economic and social unit wit a large population nucleus
brand
convenience product
metropolitan statistical area (msa)
early adopters
41. To try to increase the size of their target markets by combining two or more segments
laggards
real income
consumer-to-consumer e-commerce
combiners
42. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
cause-related marketing
yield-management pricing
behavioral learning theories
consumer behavior
43. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
mass marketing
subculture
competitive effect objective
target costing
44. The overall feelings or attitude a person has about a product after purchasing it
consumer satisfaction/dissatisfiaction
yield-management pricing
clustering techniques
trend analysis
45. A price-setting method based on estimated of demand at different prices
time-series analysis
price subsidies
demand-based pricing
cognitive learning theory
46. Group of people within an organization who focus exclusively on the development of a new product
umbrella pricing
margin
venture teams
metropolitan statistical area (msa)
47. When a percentage change in price results in a larger percentage change in the quantity demanded
operating costs
price elastic
perception
competitive effect objective
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
cognitive learning theory
senior citizens
operant conditioning
skimming price
49. Pricing products to maximize sales or to attain a desired level of sales or market share
brand equity
family life cycle
stimulus generalization
sales or market share objective
50. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
trade or functional discounts
competitive effect objective
dynamic pricing
penetration strategy
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