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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 pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
profit objective
store or private-label brands
uniform delivered pricing
disposable income
2. A flexible pricing strategy that reflects what individual customers are willing to pay
fast-moving consumer goods
information search
durable goods
variable pricing
3. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
fixed costs
seasonal analysis
maturity stage
bartering
4. People born between 1946 and 1964
heuristics
online auctions
baby boomers
trend analysis
5. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
continous innovation
trend analysis
marketing ethics
component parts
6. A social process that directs an economy
sales forecast
market manager
macro marketing
bartering
7. Costs of production that do not change with the number of units produced
disintermediation
price subsidies
self-concept
fixed costs
8. A marketing mix is tailored to fit some specific target customers
trademark
bartering
target marketing
mass selling
9. An integrated economic and social unit wit a large population nucleus
quantity discounts
cost-plus pricing
metropolitan statistical area (msa)
demand curve
10. A strategy where prices are set significantly higher than competing brands
segments
prestige pricing
maintenance - repair - and operating products
decline stage
11. Learning that occurs as the result of rewards of punishments
operant conditioning
birthrate
augmented product
f.o.b. delivered pricing
12. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
stimulus generalization
self-concept
culture
baby boomers
13. 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
expert forecasting survey
bait and switch
behavioral learning theories
emergency product
14. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
single target market approach
information search
consumer satisfaction/dissatisfiaction
senior citizens
15. A pricing strategy in which a firm sets prices that provide ultimate value to customers
real income
price elastic
value pricing everyday low-pricing
umbrella pricing
16. Discounts based on the total quantity bought within a specified time period
price-floor pricing
predatory pricing
lifestyle
cumulative quantity discounts
17. When each family unit produces everything it consumes
operating costs
product market
pure subsistence economy
innovators
18. All the benefits the product will provide for consumers or business customers
core product
bid riggin
laggards
marketing ethics
19. Segmenting the market and picking one of the homogeneous segments as the firms target market
competitive advantage
evaluative criteria
switching costs
single target market approach
20. A new product that does not reach expectations for success - failing to reach sales objectives set
prestige pricing
consumer satisfaction/dissatisfiaction
switching costs
new product failure
21. Pricing intended to establish a desired image or positioning to prospective customers
test marketing
inelastic demand
switching costs
image enhancement objective
22. 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
cannibalization
SWOT analysis
target marketing
Delphi technique
23. 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
knock-off
price bundling
late majority
24. 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
umbrella pricing
customer forecasting survey
discontinuous innovation
25. The overall feelings or attitude a person has about a product after purchasing it
differentation
consumer satisfaction/dissatisfiaction
raw materials
product adoption
26. Number of babies born per 1000 people fluctuated greatly in last 65 years
combined market approach
status symbols
price discrimination
birthrate
27. 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
macro marketing
unsought products
combined market approach
dynamically continuous innovation
28. A pricing tactic in which the seller absorbs the total cost of transportation
trend analysis
brand loyalty
opinion leader
freight absorption pricing
29. A price-setting method based on estimated of demand at different prices
seasonal analysis
demand-based pricing
customer forecasting survey
marketing ethics
30. The relative importance of perceived consequences of the purchase to a consumer
involvment
brand
market
impulse product
31. Combining two or more submarkets into one larger target market as a basis for one strategy
non-cumulative quantity discounts
combined market approach
multiple target market approach
emergency product
32. 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
price subsidies
opinion leader
target marketing
33. People over 65
senior citizens
dynamically continuous innovation
time-series analysis
market information function
34. An agreement between two brands to work together in marketing new or existing products
uniform delivered pricing
value pricing everyday low-pricing
co-branding
metropolitan statistical area (msa)
35. Those who adopt an innovation early in the diffusion process but later than the innovators
discontinuous innovation
early adopters
stimulus generalization
customer relationship management (crm)
36. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri
predatory pricing
loss-leader pricing
bait and switch
target costing
37. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
internal reference price
switching costs
variable costs
shopping product
38. A product people often buy on the spur of the moment
impulse product
competitive advantage
breakthrough opportunities
quantity discounts
39. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
price leadership (follower)
personality
cost of ownership
cycle analysis
40. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
market segmentation
subculture
baby boomers
combiners
41. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
cumulative quantity discounts
raw materials
perception
random factor analysis
42. A fairly homogeneous group of customers to whom a company wishes to appeal
target market
demand curve
market segmentation
specialty products
43. Pricing that is intended to maximize customer satisfaction and retention
customer satisfaction objective
late majority
consumer-to-consumer e-commerce
switching costs
44. A relatively permanent change in behavior caused by acquired information or experience
staples
customer forecasting survey
learning
involvment
45. 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
knock-off
universal functions of marketing
hierarchy of needs
tipping point
46. A new product sold with the same brand name as a strong existing brand
brand extension
customer satisfaction objective
classical conditioning
penetration strategy
47. What is left of disposable income after paying for necessities
discetionary income
price lining
economics of scale
pure subsistence economy
48. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
brand
growth stage
actual product
combined market approach
49. Extent to which a firm fulfills a customers needs - desires - and expectations
customer satisfaction
equipment
continous innovation
early majority
50. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
convenience product
social class
culture
internal reference price