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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 overall feelings or attitude a person has about a product after purchasing it
price bundling
fast-moving consumer goods
subculture
consumer satisfaction/dissatisfiaction
2. A new product that copies with slight modification the design of an original product
single target market approach
executive judgement
knock-off
expert forecasting survey
3. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
breakthrough opportunities
actual product
motivation
price subsidies
4. Pricing intended to establish a desired image or positioning to prospective customers
emergency product
reference group
heuristics
image enhancement objective
5. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
brand loyalty
self-concept
executive judgement
new product failure
6. The physical good or the delivered service that supplies the desired benefit
actual product
uniform delivered pricing
yield-management pricing
subculture
7. The last consumers to adopt the innovation
goods
laggards
generic marketing
differentation
8. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
product market
judgment
determining dimensions
zone pricing
9. People whose children are grown and who are now able to spend their money in other ways
social class
empty nesters
price bundling
cause-related marketing
10. What is left after taxes
disposable income
discetionary income
shopping product
sex roles
11. 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
maturity stage
multiple target market approach
price subsidies
12. A change in beliefs or actions as a reaction to real or imagined group pressure
capacity management
cognitive learning theory
conformity
evaluative criteria
13. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
product market
shopping product
early majority
market
14. A marketing mix is tailored to fit some specific target customers
qualifying dimensions
target marketing
sales or market share objective
f.o.b. delivered pricing
15. A mental rule of thumb that leads to a speedy decision by simplifying the process
heuristics
introduction
operating costs
late majority
16. 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
early majority
demand curve
attitude
licensing
17. Tangible products we can see - touch - smell - hear - taste
goods
demand-based pricing
uniform delivered pricing
clustering techniques
18. The actual interaction between the customer and the service provider
variable costs
lifestyle
non-cumulative quantity discounts
service encounter
19. The process by which the use of a product spreads throughout the population
diffusion
universal functions of marketing
target marketing
core product
20. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
clustering techniques
reference group
price bundling
test marketing
21. Learning that occurs as the result of rewards of punishments
operant conditioning
discontinuous innovation
quantity discounts
differentation
22. An arrangement unique to business marketing in which two organizations agree to buy from each other
heuristics
reciprocity
early adopters
pure subsistence economy
23. The pricing strategy of setting prices below cost to attract customers into a store
internal reference price
prestige pricing
loss-leader pricing
maturity stage
24. The practice of setting a limited number of different specific prices - called price points - for items in a product line
variable pricing
disposable income
personality
price lining
25. 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
opinion leader
micromarketing
profit objective
target market
26. Costs involved in moving from one brand to another
reciprocity
switching costs
segments
penetration strategy
27. A flexible pricing strategy that reflects what individual customers are willing to pay
variable pricing
market information function
price leadership (follower)
bait and switch
28. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer
yield-management pricing
f.o.b. delivered pricing
conformity
price inelastic
29. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
market test
macro marketing
seasonal analysis
market segment
30. A strategy of experimenting with prices until the price that generates the highest profitability is found
market test
test marketing
experimental pricing
specialty products
31. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
price leadership (follower)
random factor analysis
staples
Delphi technique
32. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
yield-management pricing
competitive advantage
generic marketing
price bundling
33. A product people often buy on the spur of the moment
target market
evaluative criteria
impulse product
umbrella pricing
34. Selling two or more goods or services as a single package for one price
price bundling
generic marketing
brand loyalty
penetration strategy
35. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition
prestige pricing
brand loyalty
reference group
captive pricing
36. 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
trademark
executive judgement
cognitive dissonance
opportunity cost
37. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
customer forecasting survey
product adoption
dynamic pricing
family brand
38. Aim at one or more homogeneous segments and try to develop different marketing mix for each
licensing
test marketing
fast-moving consumer goods
segments
39. 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
goods
classical conditioning
operating costs
40. Those that actually affect the customers purchase of specific product or brand in a product market
determining dimensions
market
information search
nondurable goods
41. When a percentage change in price results in a smaller percentage change in the quantity demanded
demand-based pricing
demand curve
skimming price
price inelastic
42. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas
market information function
clickstream analysis
self-concept
generic marketing
43. Group of people within an organization who focus exclusively on the development of a new product
non-cumulative quantity discounts
Delphi technique
seasonal analysis
venture teams
44. The value of a brand to an organization
new product failure
marketing ethics
behavioral learning theories
brand equity
45. Discounts based on the total quantity bought within a specified time period
market segmentation
attitude
cumulative quantity discounts
social class
46. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
introduction
baby boomers
judgment
customer forecasting survey
47. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
classical conditioning
switching costs
consumer behavior
seasonal analysis
48. The relative importance of perceived consequences of the purchase to a consumer
price bundling
clustering techniques
subculture
involvment
49. Discounts based only on the quantity purchased in individual orders
price inelastic
sales force forecasting survey
non-cumulative quantity discounts
unsought products
50. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
unsought products
multicultural marketing
fast-moving consumer goods
laggards