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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. A change in beliefs or actions as a reaction to real or imagined group pressure
staples
opportunity cost
conformity
decline stage
2. The relative importance of perceived consequences of the purchase to a consumer
gen y
consumer behavior
yield-management pricing
involvment
3. The practice of setting a limited number of different specific prices - called price points - for items in a product line
combiners
price lining
national or manufacturer brands
product market
4. A means of characterizing consumers based on the different family stages they pass through as they grow older
freight absorption pricing
differentation
family life cycle
information search
5. Brands that are owned and sold by a specific - retailer or distributor
penetration strategy
product life cycle
store or private-label brands
disintermediation
6. The practice of linking products to a particular social cause on an ongoing or short-term basis
pure subsistence economy
strategic business unit sbu
cause-related marketing
actual product
7. Segmenting the market and picking one of the homogeneous segments as the firms target market
classical conditioning
inelastic demand
store or private-label brands
single target market approach
8. A totally new product that creates major changes in the way we live
discontinuous innovation
price elasticity
innovators
cost-plus pricing
9. The value of something that is given up to obtain something else
stimulus generalization
opportunity cost
maintenance - repair - and operating products
price lining
10. A pricing tactic of charging reduced prices for larger quantities of product
quantity discounts
image enhancement objective
switching costs
processed material
11. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
service encounter
price leadership (follower)
information search
operant conditioning
12. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top
test marketing
cause-related marketing
hierarchy of needs
component parts
13. 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
sales or market share objective
strategic business unit sbu
list price
14. 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
brand loyalty
real income
test marketing
sustainability
15. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
customer relationship management (crm)
reference group
market
processed material
16. Discounts based only on the quantity purchased in individual orders
clickstream analysis
seasonal analysis
non-cumulative quantity discounts
mass marketing
17. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
unsought products
product life cycle
generic marketing
cognitive learning theory
18. 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
status symbols
gen x
SWOT analysis
19. 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
frequent discounting
micromarketing
time-series analysis
self-concept
20. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
sales force forecasting survey
brand extension
cost-plus pricing
national or manufacturer brands
21. What is left of disposable income after paying for necessities
discetionary income
cognitive dissonance
multicultural marketing
innovators
22. The final stage in the product life cycle - in which sales decrease as customer needs change
maintenance - repair - and operating products
decline stage
discetionary income
demand-based pricing
23. The value that customers give up - or exchange - to obtain a desired product
uniform delivered pricing
attitude
price
breakthrough opportunities
24. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
frequent discounting
bid riggin
sales force forecasting survey
cause-related marketing
25. An integrated economic and social unit wit a large population nucleus
variable costs
metropolitan statistical area (msa)
switching costs
family brand
26. Learning that occurs as the result of rewards of punishments
operant conditioning
licensing
fixed costs
breakthrough opportunities
27. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
market segment
f.o.b. delivered pricing
innovation
price leadership (follower)
28. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
cause-related marketing
nondurable goods
quantity discounts
customer satisfaction objective
29. A social process that directs an economy
price elasticity
macro marketing
price elastic
perceived risk
30. 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
growth stage
uniform delivered pricing
store or private-label brands
31. A new product that copies with slight modification the design of an original product
gen y
knock-off
freight absorption pricing
lifestyle
32. The last consumers to adopt the innovation
yield-management pricing
prestige pricing
laggards
empty nesters
33. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
product life cycle
sex roles
frequent discounting
micromarketing
34. Costs involved in using a product
combiners
operating costs
maintenance - repair - and operating products
trade or functional discounts
35. The strategy of selling products at unreasonably low prices to drive competitors out of business
status symbols
growth stage
predatory pricing
brand extension
36. A relatively permanent change in behavior caused by acquired information or experience
laggards
perception
learning
conformity
37. 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
bartering
cognitive learning theory
inelastic demand
trademark
38. The seller fine tunes the marketing effort with info from a detailed customer database
customer relationship management (crm)
sales force forecasting survey
economics of scale
judgment
39. 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
introduction
cause-related marketing
late majority
prestige pricing
40. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
heuristics
convenience product
co-branding
uniform delivered pricing
41. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
f.o.b. delivered pricing
price maintenance
hierarchy of needs
self-concept
42. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
umbrella pricing
micromarketing
time-series analysis
brand manager
43. A product people often buy on the spur of the moment
co-branding
impulse product
decline stage
motivation
44. The process by which the use of a product spreads throughout the population
diffusion
nondurable goods
price leadership (follower)
learning
45. Moral standards that guide marketing decisions and actions
experimental pricing
marketing ethics
cycle analysis
lifestyle
46. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
classical conditioning
regression analysis
expert forecasting survey
product line
47. Number of babies born per 1000 people fluctuated greatly in last 65 years
evaluative criteria
combined market approach
seasonal analysis
birthrate
48. Pricing products with a focus on a target level of profit growth or a desired net profit margin
profit objective
empty nesters
personality
target costing
49. A pricing tactic in which the seller absorbs the total cost of transportation
image enhancement objective
freight absorption pricing
penetration strategy
clustering techniques
50. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
non-cumulative quantity discounts
brand equity
variable costs
equipment