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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 modification of an existing product that sets one brand apart from its competitors
list price
information search
continous innovation
test marketing
2. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
cost-plus pricing
specialty products
pure subsistence economy
cycle analysis
3. The pricing strategy of setting prices below cost to attract customers into a store
product adoption
fast-moving consumer goods
loss-leader pricing
market
4. The process of eliminating interaction between customers and service providers
inelastic demand
disintermediation
brand loyalty
innovation
5. The collaboration of two or more firms in setting prices - usually to keep prices high
price maintenance
maintenance - repair - and operating products
mass marketing
single target market approach
6. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus
demand curve
clickstream analysis
brand equity
classical conditioning
7. The process by which people select - organize - and interpret information form the outside world
segments
core product
perception
store or private-label brands
8. Refers to the generation born immediately following the baby boom - from 1965-1977
metropolitan statistical area (msa)
unsought products
innovators
gen x
9. Tohose whose adoption to a new product signals a general acceptance of the innovation
perceived risk
segmenting
early majority
qualifying dimensions
10. All the benefits the product will provide for consumers or business customers
micromarketing
universal functions of marketing
core product
quantity discounts
11. A product that consumers perceive to be new and different form existing products
innovation
combined market approach
national or manufacturer brands
zone pricing
12. 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
motivation
market
price elastic
market information function
13. A pricing strategy that considers the lifetime cost of using the product
actual product
experimental pricing
price elastic
cost of ownership
14. 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
internal reference price
durable goods
f.o.b. origin pricing
price discrimination
15. 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
price-floor pricing
cognitive learning theory
impulse product
disposable income
16. People born between 1946 and 1964
gen y
durable goods
baby boomers
portfolio management
17. An integrated economic and social unit wit a large population nucleus
cognitive dissonance
metropolitan statistical area (msa)
conformity
mass marketing
18. 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
f.o.b. delivered pricing
opinion leader
sales force forecasting survey
innovation
19. 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
continous innovation
cognitive dissonance
captive pricing
dynamically continuous innovation
20. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
operating costs
component parts
internal reference price
fast-moving consumer goods
21. The practice of linking products to a particular social cause on an ongoing or short-term basis
heuristics
qualifying dimensions
cause-related marketing
combined market approach
22. A product people often buy on the spur of the moment
impulse product
price maintenance
knock-off
product market
23. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
maturity stage
product life cycle
multiple target market approach
time-series analysis
24. The final stage in the product life cycle - in which sales decrease as customer needs change
capacity management
hierarchy of needs
trend analysis
decline stage
25. The value that customers give up - or exchange - to obtain a desired product
combiners
f.o.b. origin pricing
price
lifestyle
26. A firm's total product offering designed to satisfy a single need or desire of target customers
mass selling
mass marketing
pure subsistence economy
product line
27. Products created when firms transform raw materials from their original state
processed material
f.o.b. origin pricing
social class
reference group
28. The set of alternative brands the consumer is considering for the decision process
consideration set
opinion leader
equipment
time-series analysis
29. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
licensing
self-concept
test marketing
micromarketing
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
evaluative criteria
trademark
processed material
late majority
31. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
continous innovation
shopping product
product life cycle
reference group
32. Segmenting the market and picking one of the homogeneous segments as the firms target market
price elasticity
single target market approach
profit objective
lifestyle
33. Sales forecasting based on the intuition of one or more executives
cognitive learning theory
stimulus generalization
executive judgement
continous innovation
34. Those who adopt an innovation early in the diffusion process but later than the innovators
birthrate
penetration strategy
early adopters
macro marketing
35. 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
brand equity
price subsidies
market segmentation
freight absorption pricing
36. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
operant conditioning
cognitive learning theory
market segment
sex roles
37. 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
venture teams
licensing
qualifying dimensions
breakthrough opportunities
38. Pricing products with a focus on a target level of profit growth or a desired net profit margin
profit objective
innovation
status symbols
cumulative quantity discounts
39. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
product adoption
price discrimination
co-branding
heuristics
40. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
competitive effect objective
economics of scale
f.o.b. origin pricing
metropolitan statistical area (msa)
41. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
price lining
behavioral learning theories
frequent discounting
benefit segmentation
42. What is left of disposable income after paying for necessities
discetionary income
experimental pricing
actual product
market segment
43. 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
cost-plus pricing
demand curve
family life cycle
time-series analysis
44. A price-setting method based on estimated of demand at different prices
demand-based pricing
variable costs
nondurable goods
continous innovation
45. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
licensing
yield-management pricing
consumer behavior
decline stage
46. The difference between the cost of the product and the selling price of the product
cognitive dissonance
margin
price subsidies
judgment
47. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
convenience product
personality
customer forecasting survey
predatory pricing
48. Discounts based only on the quantity purchased in individual orders
non-cumulative quantity discounts
heuristics
nondurable goods
price-floor pricing
49. A brand that a group of individual products or individual brands share
brand extension
family brand
real income
cycle analysis
50. A pricing tactic in which customers in different geographic zones pay different transportation rates
umbrella pricing
zone pricing
culture
personality