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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 value of a brand to an organization
attitude
brand extension
variable pricing
brand equity
2. Income that is adjusted to take out the effects of inflation on purchasing power
cause-related marketing
specialty products
real income
seasonal analysis
3. A pricing strategy that considers the lifetime cost of using the product
pure subsistence economy
market test
cost of ownership
consumer-to-consumer e-commerce
4. The first segment (2.5%) of a population to adopt a new product
shopping product
perceived risk
diffusion
innovators
5. 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
marketing ethics
subculture
reciprocity
f.o.b. delivered pricing
6. 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
gen x
perceived risk
image enhancement objective
time-series analysis
7. Refers to the generation born immediately following the baby boom - from 1965-1977
tipping point
gen x
sales forecast
co-branding
8. When a percentage change in price results in a smaller percentage change in the quantity demanded
empty nesters
price inelastic
customer forecasting survey
universal functions of marketing
9. The practice of linking products to a particular social cause on an ongoing or short-term basis
price inelastic
behavioral learning theories
disintermediation
cause-related marketing
10. A product people often buy on the spur of the moment
market
captive pricing
cycle analysis
impulse product
11. An agreement between two brands to work together in marketing new or existing products
staples
consumer satisfaction/dissatisfiaction
SWOT analysis
co-branding
12. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
image enhancement objective
product life cycle
Delphi technique
evaluative criteria
13. A social process that directs an economy
macro marketing
venture teams
cause-related marketing
customer satisfaction
14. The collaboration of two or more firms in setting prices - usually to keep prices high
f.o.b. origin pricing
price maintenance
trial pricing
staples
15. Costs involved in using a product
operating costs
time-series analysis
new product failure
seasonal analysis
16. The difference between the cost of the product and the selling price of the product
portfolio management
durable goods
margin
attitude
17. The physical good or the delivered service that supplies the desired benefit
venture teams
dynamic pricing
actual product
diffusion
18. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
processed material
status symbols
judgment
stimulus generalization
19. An organizational unit that focuses on some product markets and is treated as a separate profit center
customer relationship management (crm)
strategic business unit sbu
trend analysis
value pricing everyday low-pricing
20. The pricing strategy of setting prices below cost to attract customers into a store
licensing
fast-moving consumer goods
loss-leader pricing
seasonal analysis
21. Sometimes called millenials - refer to those born from 1978-1994
self-concept
value pricing everyday low-pricing
gen y
durable goods
22. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
margin
cannibalization
shopping product
cause-related marketing
23. Group of people within an organization who focus exclusively on the development of a new product
venture teams
executive judgement
zone pricing
product market
24. Basic or necessary items that are available almost everywhere
staples
judgment
product life cycle
price bundling
25. Brands that the manufacturer of the product owns
lifestyle
core product
national or manufacturer brands
personality
26. The dimensions that consumers use to compare completing product alternatives
product line
evaluative criteria
metropolitan statistical area (msa)
heuristics
27. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
brand equity
universal functions of marketing
empty nesters
dynamic pricing
28. Products that exhibit consistently high velocity sales in the consumer marketplace
trend analysis
lifestyle
fast-moving consumer goods
price
29. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
shopping product
family brand
stimulus generalization
evaluative criteria
30. The process of eliminating interaction between customers and service providers
disposable income
sex roles
customer satisfaction objective
disintermediation
31. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
trend analysis
market segment
micromarketing
augmented product
32. 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
image enhancement objective
cannibalization
judgment
brand
33. A totally new product that creates major changes in the way we live
discontinuous innovation
benefit segmentation
maturity stage
raw materials
34. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
perception
growth stage
quantity discounts
new product failure
35. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
involvment
segmenting
list price
specialty products
36. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer
portfolio management
family brand
reference group
f.o.b. origin pricing
37. All the benefits the product will provide for consumers or business customers
cognitive dissonance
core product
price discrimination
customer satisfaction objective
38. A new product that does not reach expectations for success - failing to reach sales objectives set
gen y
reference group
demand curve
new product failure
39. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
cycle analysis
sales force forecasting survey
culture
penetration strategy
40. A strategy where prices are set significantly higher than competing brands
prestige pricing
internal reference price
discontinuous innovation
unsought products
41. Charging a very high - premium price for a new product
value pricing everyday low-pricing
skimming price
co-branding
impulse product
42. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
opportunity cost
cycle analysis
component parts
brand equity
43. 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
trade or functional discounts
laggards
bait and switch
target market
44. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
innovation
behavioral learning theories
f.o.b. delivered pricing
lifestyle
45. Those that actually affect the customers purchase of specific product or brand in a product market
benefit segmentation
prestige pricing
trend analysis
determining dimensions
46. Aim at one or more homogeneous segments and try to develop different marketing mix for each
price subsidies
market manager
segments
trade or functional discounts
47. 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
customer forecasting survey
customer satisfaction
seasonal analysis
price-floor pricing
48. The practice of exchanging a good or service for another good or service of like value
bartering
innovators
value pricing everyday low-pricing
regression analysis
49. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
competitive advantage
reference group
multiple target market approach
mass selling
50. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
cost of ownership
target market
baby boomers
introduction