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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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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. 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
product life cycle
mass selling
staples
Delphi technique
2. Segmenting the market and picking one of the homogeneous segments as the firms target market
product adoption
single target market approach
image enhancement objective
licensing
3. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
list price
customer satisfaction objective
differentation
multiple target market approach
4. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
augmented product
Delphi technique
operating costs
customer forecasting survey
5. A means of characterizing consumers based on the different family stages they pass through as they grow older
family life cycle
heuristics
universal functions of marketing
frequent discounting
6. A homogeneous group of customers who will respond to a marketing mix in a similiar way
trend analysis
conformity
market segment
switching costs
7. 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
augmented product
dynamically continuous innovation
service encounter
8. 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
competitive effect objective
breakthrough opportunities
market
price bundling
9. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
lifestyle
margin
freight absorption pricing
zone pricing
10. An agreement between two brands to work together in marketing new or existing products
product market
personality
competitive advantage
co-branding
11. Relevant to including a customer type in a product market
qualifying dimensions
family brand
penetration strategy
innovators
12. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
price leadership (follower)
judgment
cost-plus pricing
13. Products we purchase when we're in dire need
dynamically continuous innovation
emergency product
price bundling
gen x
14. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
price maintenance
consumer-to-consumer e-commerce
empty nesters
cannibalization
15. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
demand-based pricing
national or manufacturer brands
market manager
early majority
16. 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
product life cycle
trademark
learning
loss-leader pricing
17. The practice of setting a limited number of different specific prices - called price points - for items in a product line
brand
expert forecasting survey
price lining
culture
18. The practice of exchanging a good or service for another good or service of like value
bartering
zone pricing
price subsidies
target market
19. A price-setting method based on estimated of demand at different prices
trial pricing
brand loyalty
demand-based pricing
durable goods
20. 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
multicultural marketing
impulse product
loss-leader pricing
21. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
operating costs
executive judgement
evaluative criteria
introduction
22. The values - beliefs - customs - and tastes that a group of people value
culture
market test
subculture
price lining
23. Discounts based only on the quantity purchased in individual orders
seasonal analysis
non-cumulative quantity discounts
yield-management pricing
stimulus generalization
24. An organizational unit that focuses on some product markets and is treated as a separate profit center
strategic business unit sbu
SWOT analysis
early adopters
fixed costs
25. The psychological characteristics that consistently influence the way a person responds to situations in the environment
price maintenance
price inelastic
personality
conformity
26. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
segmenting
convenience product
motivation
venture teams
27. To try to increase the size of their target markets by combining two or more segments
combiners
customer forecasting survey
gen x
discetionary income
28. The final stage in the product life cycle - in which sales decrease as customer needs change
price lining
decline stage
frequent discounting
empty nesters
29. The regret or remorse buyers may feel after making a purchase
cognitive dissonance
differentation
gen x
multicultural marketing
30. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
evaluative criteria
cognitive learning theory
bartering
SWOT analysis
31. A pricing tactic in which customers in different geographic zones pay different transportation rates
maintenance - repair - and operating products
zone pricing
late majority
cause-related marketing
32. Pricing products with a focus on a target level of profit growth or a desired net profit margin
value pricing everyday low-pricing
product category manager
metropolitan statistical area (msa)
profit objective
33. The seller fine tunes the marketing effort with info from a detailed customer database
customer relationship management (crm)
customer forecasting survey
learning
operant conditioning
34. 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
target marketing
cognitive learning theory
core product
market information function
35. A new product that does not reach expectations for success - failing to reach sales objectives set
new product failure
fixed costs
decline stage
durable goods
36. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
emergency product
durable goods
status symbols
frequent discounting
37. A manager who is responsible for developing and implementing the marketing plan for a single brand
operant conditioning
brand manager
breakthrough opportunities
maintenance - repair - and operating products
38. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
bait and switch
innovation
segmenting
product adoption
39. 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
discetionary income
time-series analysis
perception
durable goods
40. What is left of disposable income after paying for necessities
cognitive dissonance
laggards
discetionary income
f.o.b. origin pricing
41. 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
brand
gen x
combiners
42. 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
market segmentation
brand manager
reference group
behavioral learning theories
43. The process by which the use of a product spreads throughout the population
involvment
trend analysis
diffusion
core product
44. To try to find similar patterns within sets of data
innovators
clustering techniques
dynamic pricing
captive pricing
45. The set of alternative brands the consumer is considering for the decision process
consideration set
f.o.b. delivered pricing
loss-leader pricing
experimental pricing
46. The process of eliminating interaction between customers and service providers
cognitive dissonance
price discrimination
disintermediation
non-cumulative quantity discounts
47. Extent to which a firm fulfills a customers needs - desires - and expectations
price elasticity
customer satisfaction
pure subsistence economy
list price
48. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
fast-moving consumer goods
multicultural marketing
reference group
price-floor pricing
49. E-commerce that allows shoppers to purchase products through online bidding
uniform delivered pricing
product adoption
online auctions
customer relationship management (crm)
50. People over 65
test marketing
actual product
family life cycle
senior citizens
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