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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. Income that is adjusted to take out the effects of inflation on purchasing power
early majority
real income
knock-off
processed material
2. The process by which the use of a product spreads throughout the population
combiners
market test
diffusion
mass selling
3. A product people often buy on the spur of the moment
impulse product
multicultural marketing
raw materials
conformity
4. The value that customers give up - or exchange - to obtain a desired product
fixed costs
consumer-to-consumer e-commerce
price
non-cumulative quantity discounts
5. The marketing mix is distinct from and better than what is available from a competitor
bartering
determining dimensions
differentation
gen y
6. Costs of production that do not change with the number of units produced
early majority
mass selling
portfolio management
fixed costs
7. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
national or manufacturer brands
benefit segmentation
sex roles
unsought products
8. A flexible pricing strategy that reflects what individual customers are willing to pay
price maintenance
SWOT analysis
staples
variable pricing
9. 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
real income
brand loyalty
co-branding
learning
10. Pricing that is intended to maximize customer satisfaction and retention
uniform delivered pricing
brand extension
market manager
customer satisfaction objective
11. 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
sales or market share objective
disintermediation
seasonal analysis
bait and switch
12. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item
captive pricing
baby boomers
continous innovation
unsought products
13. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
umbrella pricing
generic marketing
breakthrough opportunities
universal functions of marketing
14. 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
personality
unsought products
brand extension
regression analysis
15. The overall feelings or attitude a person has about a product after purchasing it
product life cycle
consumer satisfaction/dissatisfiaction
evaluative criteria
convenience product
16. Selling two or more goods or services as a single package for one price
price bundling
brand loyalty
consideration set
baby boomers
17. An organizational unit that focuses on some product markets and is treated as a separate profit center
strategic business unit sbu
senior citizens
operant conditioning
maintenance - repair - and operating products
18. A product that consumers perceive to be new and different form existing products
information search
innovation
empty nesters
hierarchy of needs
19. An agreement between two brands to work together in marketing new or existing products
expert forecasting survey
co-branding
price leadership (follower)
benefit segmentation
20. The process by which people select - organize - and interpret information form the outside world
sales force forecasting survey
perception
service encounter
specialty products
21. A new product that copies with slight modification the design of an original product
knock-off
laggards
price leadership (follower)
attitude
22. People whose children are grown and who are now able to spend their money in other ways
gen x
loss-leader pricing
sustainability
empty nesters
23. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
motivation
bartering
reference group
attitude
24. Those who adopt an innovation early in the diffusion process but later than the innovators
knock-off
conformity
customer satisfaction
early adopters
25. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
prestige pricing
penetration strategy
capacity management
classical conditioning
26. A change in an existing product that requires a moderate amount of learning or behavior change
sex roles
customer forecasting survey
dynamically continuous innovation
f.o.b. delivered pricing
27. A pricing tactic in which customers in different geographic zones pay different transportation rates
product life cycle
variable costs
tipping point
zone pricing
28. A firm's total product offering designed to satisfy a single need or desire of target customers
perception
motivation
product life cycle
product line
29. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief
price subsidies
trial pricing
zone pricing
maturity stage
30. 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
prestige pricing
disintermediation
brand
early adopters
31. 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
motivation
mass marketing
time-series analysis
birthrate
32. 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
demand curve
opportunity cost
generic marketing
breakthrough opportunities
33. People born between 1946 and 1964
baby boomers
perception
price-floor pricing
customer forecasting survey
34. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
perception
disposable income
brand equity
lifestyle
35. The strategy of selling products at unreasonably low prices to drive competitors out of business
behavioral learning theories
consumer behavior
predatory pricing
umbrella pricing
36. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
actual product
laggards
information search
diffusion
37. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
consumer-to-consumer e-commerce
sales forecast
cognitive learning theory
specialty products
38. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
predatory pricing
consumer satisfaction/dissatisfiaction
consumer behavior
dynamic pricing
39. An integrated economic and social unit wit a large population nucleus
metropolitan statistical area (msa)
innovators
status symbols
durable goods
40. The division of a market according to benefits that consumers want from the product
trend analysis
benefit segmentation
market segmentation
opportunity cost
41. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
introduction
value pricing everyday low-pricing
f.o.b. origin pricing
segmenting
42. The practice of setting a limited number of different specific prices - called price points - for items in a product line
attitude
gen y
perception
price lining
43. Charging a very high - premium price for a new product
skimming price
combined market approach
random factor analysis
differentation
44. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
product adoption
market segmentation
economics of scale
online auctions
45. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
gen x
nondurable goods
goods
cycle analysis
46. Moral standards that guide marketing decisions and actions
marketing ethics
cycle analysis
Delphi technique
information search
47. E-commerce that allows shoppers to purchase products through online bidding
core product
family life cycle
shopping product
online auctions
48. A marketing mix is tailored to fit some specific target customers
knock-off
target marketing
goods
internal reference price
49. Costs involved in using a product
diffusion
equipment
quantity discounts
operating costs
50. The value of something that is given up to obtain something else
clickstream analysis
penetration strategy
opportunity cost
consumer-to-consumer e-commerce
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