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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 process by which a consumer or business customer begins to buy and use a new good - service - or idea
maturity stage
product adoption
maintenance - repair - and operating products
price-floor pricing
2. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
durable goods
product adoption
introduction
clickstream analysis
3. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
consumer satisfaction/dissatisfiaction
conformity
customer forecasting survey
status symbols
4. Products that exhibit consistently high velocity sales in the consumer marketplace
fast-moving consumer goods
price leadership (follower)
frequent discounting
price subsidies
5. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
product life cycle
uniform delivered pricing
strategic business unit sbu
shopping product
6. Goods that a business customer consumes in a relatively short time
family life cycle
differentation
skimming price
maintenance - repair - and operating products
7. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
regression analysis
multiple target market approach
variable pricing
expert forecasting survey
8. The psychological characteristics that consistently influence the way a person responds to situations in the environment
bait and switch
market test
behavioral learning theories
personality
9. A pricing tactic of charging reduced prices for larger quantities of product
competitive advantage
quantity discounts
market test
discontinuous innovation
10. Sales forecasting based on the intuition of one or more executives
lifestyle
non-cumulative quantity discounts
executive judgement
inelastic demand
11. The pricing strategy of setting prices below cost to attract customers into a store
sustainability
loss-leader pricing
motivation
family life cycle
12. Pricing products with a focus on a target level of profit growth or a desired net profit margin
profit objective
product life cycle
multiple target market approach
involvment
13. 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
durable goods
unsought products
experimental pricing
late majority
14. Selling two or more goods or services as a single package for one price
market manager
family life cycle
price bundling
augmented product
15. Communicating with large numbers of customers at the same time
predatory pricing
discetionary income
sex roles
mass selling
16. Aim at one or more homogeneous segments and try to develop different marketing mix for each
umbrella pricing
stimulus generalization
continous innovation
segments
17. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
sales forecast
experimental pricing
reference group
cognitive learning theory
18. A manager who is responsible for developing and implementing the marketing plan for a single brand
senior citizens
profit objective
clustering techniques
brand manager
19. Those who adopt an innovation early in the diffusion process but later than the innovators
empty nesters
early adopters
Delphi technique
price bundling
20. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
fixed costs
differentation
durable goods
penetration strategy
21. 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
brand
macro marketing
prestige pricing
competitive effect objective
22. The division of a market according to benefits that consumers want from the product
zone pricing
benefit segmentation
cause-related marketing
consideration set
23. A strategy where prices are set significantly higher than competing brands
sustainability
umbrella pricing
goods
prestige pricing
24. Products created when firms transform raw materials from their original state
consideration set
cause-related marketing
growth stage
processed material
25. A situation in which an increase or a decrease in price will not significantly affect demand for the product
market manager
skimming price
inelastic demand
baby boomers
26. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
operating costs
market manager
nondurable goods
bid riggin
27. 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
skimming price
price subsidies
consumer satisfaction/dissatisfiaction
customer satisfaction objective
28. An internal state that drives us to satisfy needs by activating goal-oriented behavior
qualifying dimensions
senior citizens
motivation
diffusion
29. A strategy of ducking under a competitor's price by a fixed percentage
unsought products
SWOT analysis
involvment
umbrella pricing
30. The actual interaction between the customer and the service provider
demand curve
market
service encounter
f.o.b. origin pricing
31. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
price-floor pricing
sex roles
sales force forecasting survey
processed material
32. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
unsought products
variable costs
family brand
random factor analysis
33. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
bait and switch
sales forecast
judgment
cumulative quantity discounts
34. The regret or remorse buyers may feel after making a purchase
differentation
introduction
late majority
cognitive dissonance
35. To try to find similar patterns within sets of data
consumer-to-consumer e-commerce
raw materials
early adopters
clustering techniques
36. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
f.o.b. delivered pricing
regression analysis
dynamically continuous innovation
continous innovation
37. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
birthrate
operating costs
reference group
co-branding
38. A price-setting method based on estimated of demand at different prices
capacity management
demand-based pricing
maturity stage
emergency product
39. Relevant to including a customer type in a product market
demand curve
brand
qualifying dimensions
target costing
40. A new product that does not reach expectations for success - failing to reach sales objectives set
new product failure
behavioral learning theories
skimming price
online auctions
41. Segmenting the market and picking one of the homogeneous segments as the firms target market
single target market approach
determining dimensions
licensing
combined market approach
42. 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
marketing ethics
product category manager
zone pricing
43. 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
family brand
market information function
clickstream analysis
micromarketing
44. E-commerce that allows shoppers to purchase products through online bidding
seasonal analysis
online auctions
operating costs
clickstream analysis
45. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
price leadership (follower)
opportunity cost
reciprocity
yield-management pricing
46. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
consumer-to-consumer e-commerce
margin
market test
multiple target market approach
47. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
venture teams
SWOT analysis
micromarketing
seasonal analysis
48. The set of alternative brands the consumer is considering for the decision process
pure subsistence economy
cumulative quantity discounts
real income
consideration set
49. Charging a very high - premium price for a new product
involvment
determining dimensions
skimming price
birthrate
50. 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
early adopters
motivation
behavioral learning theories
licensing