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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. A strategy where prices are set significantly higher than competing brands
segmenting
customer satisfaction objective
prestige pricing
freight absorption pricing
2. Group of people within an organization who focus exclusively on the development of a new product
market test
venture teams
hierarchy of needs
sales forecast
3. Sales forecasting based on the intuition of one or more executives
late majority
internal reference price
executive judgement
generic marketing
4. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
opinion leader
venture teams
sustainability
involvment
5. A fairly homogeneous group of customers to whom a company wishes to appeal
target market
prestige pricing
target costing
empty nesters
6. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
augmented product
variable costs
operant conditioning
subculture
7. A new product sold with the same brand name as a strong existing brand
demand curve
real income
brand extension
combiners
8. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item
bait and switch
new product failure
cause-related marketing
venture teams
9. The process by which the use of a product spreads throughout the population
target marketing
venture teams
price lining
diffusion
10. Pricing products to maximize sales or to attain a desired level of sales or market share
sales or market share objective
status symbols
information search
family life cycle
11. A relatively permanent change in behavior caused by acquired information or experience
learning
cumulative quantity discounts
price elastic
non-cumulative quantity discounts
12. Learning that occurs as the result of rewards of punishments
operant conditioning
opinion leader
dynamic pricing
innovation
13. 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
prestige pricing
segmenting
family brand
demand curve
14. The psychological characteristics that consistently influence the way a person responds to situations in the environment
generic marketing
sales or market share objective
personality
cost-plus pricing
15. 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
perceived risk
emergency product
competitive effect objective
16. 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
dynamic pricing
opinion leader
national or manufacturer brands
evaluative criteria
17. A pricing strategy that considers the lifetime cost of using the product
raw materials
actual product
cost of ownership
SWOT analysis
18. An integrated economic and social unit wit a large population nucleus
prestige pricing
metropolitan statistical area (msa)
micromarketing
price elasticity
19. An internal state that drives us to satisfy needs by activating goal-oriented behavior
clustering techniques
f.o.b. delivered pricing
knock-off
motivation
20. A manager who is responsible for developing and implementing the marketing plan for a single brand
brand manager
empty nesters
disintermediation
demand-based pricing
21. Number of babies born per 1000 people fluctuated greatly in last 65 years
empty nesters
discetionary income
involvment
birthrate
22. Relevant to including a customer type in a product market
component parts
product line
qualifying dimensions
growth stage
23. Costs involved in using a product
customer satisfaction
yield-management pricing
operating costs
penetration strategy
24. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
internal reference price
brand
market information function
executive judgement
25. 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
conformity
combiners
experimental pricing
26. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue
Delphi technique
price inelastic
zone pricing
f.o.b. origin pricing
27. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
internal reference price
opportunity cost
specialty products
market
28. Pricing products with a focus on a target level of profit growth or a desired net profit margin
profit objective
price inelastic
innovators
classical conditioning
29. Brands that the manufacturer of the product owns
national or manufacturer brands
product category manager
maintenance - repair - and operating products
captive pricing
30. Sometimes called millenials - refer to those born from 1978-1994
empty nesters
gen y
sales force forecasting survey
price elasticity
31. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
raw materials
knock-off
classical conditioning
self-concept
32. A firm's total product offering designed to satisfy a single need or desire of target customers
birthrate
price-floor pricing
consumer satisfaction/dissatisfiaction
product line
33. The collaboration of two or more firms in setting prices - usually to keep prices high
price maintenance
maintenance - repair - and operating products
real income
cannibalization
34. Income that is adjusted to take out the effects of inflation on purchasing power
impulse product
real income
trade or functional discounts
classical conditioning
35. A new product that copies with slight modification the design of an original product
bid riggin
family brand
knock-off
brand extension
36. The practice of setting a limited number of different specific prices - called price points - for items in a product line
price lining
perception
learning
market test
37. 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
cost of ownership
predatory pricing
target marketing
38. Products we purchase when we're in dire need
actual product
emergency product
service encounter
national or manufacturer brands
39. People born between 1946 and 1964
market segment
price bundling
benefit segmentation
baby boomers
40. 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
capacity management
late majority
discontinuous innovation
impulse product
41. Costs involved in moving from one brand to another
cognitive dissonance
innovators
switching costs
early adopters
42. The process of eliminating interaction between customers and service providers
disintermediation
bartering
core product
perception
43. The relative importance of perceived consequences of the purchase to a consumer
competitive effect objective
involvment
price inelastic
cognitive learning theory
44. An agreement between two brands to work together in marketing new or existing products
co-branding
tipping point
specialty products
differentation
45. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
price maintenance
executive judgement
determining dimensions
shopping product
46. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
actual product
sustainability
venture teams
product adoption
47. 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
service encounter
trade or functional discounts
brand
evaluative criteria
48. Discounts based only on the quantity purchased in individual orders
self-concept
dynamically continuous innovation
opportunity cost
non-cumulative quantity discounts
49. All the benefits the product will provide for consumers or business customers
core product
diffusion
brand extension
gen y
50. A marketing mix is tailored to fit some specific target customers
dynamically continuous innovation
metropolitan statistical area (msa)
reference group
target marketing
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