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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. An aggregating process - clustering people with similar needs into a "market segment"
conformity
segmenting
marketing ethics
internal reference price
2. When a percentage change in price results in a larger percentage change in the quantity demanded
price elastic
product line
market
staples
3. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
specialty products
price
attitude
shopping product
4. People born between 1946 and 1964
late majority
tipping point
baby boomers
opinion leader
5. Charging a very high - premium price for a new product
price maintenance
judgment
skimming price
yield-management pricing
6. An agreement between two brands to work together in marketing new or existing products
co-branding
price lining
price
product category manager
7. 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
metropolitan statistical area (msa)
brand
fast-moving consumer goods
consumer-to-consumer e-commerce
8. Sales forecasting based on the intuition of one or more executives
executive judgement
dynamic pricing
disposable income
bait and switch
9. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
generic marketing
operant conditioning
market manager
cost of ownership
10. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
conformity
actual product
captive pricing
penetration strategy
11. A pricing tactic in which customers in different geographic zones pay different transportation rates
customer satisfaction
zone pricing
prestige pricing
product category manager
12. The practice of linking products to a particular social cause on an ongoing or short-term basis
laggards
cause-related marketing
brand equity
maturity stage
13. Income that is adjusted to take out the effects of inflation on purchasing power
real income
product category manager
market
differentation
14. The process by which organization adjust their offering in an attempt to match demand
capacity management
expert forecasting survey
baby boomers
continous innovation
15. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
clickstream analysis
multicultural marketing
prestige pricing
maintenance - repair - and operating products
16. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
decline stage
operant conditioning
perceived risk
introduction
17. A means of measuring a website's success by tracking customers' movement around the company website
perception
bid riggin
clickstream analysis
market manager
18. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
penetration strategy
emergency product
culture
internal reference price
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
bait and switch
time-series analysis
decline stage
expert forecasting survey
20. Products created when firms transform raw materials from their original state
processed material
consumer-to-consumer e-commerce
multiple target market approach
non-cumulative quantity discounts
21. The seller fine tunes the marketing effort with info from a detailed customer database
status symbols
margin
customer relationship management (crm)
macro marketing
22. A marketing mix is tailored to fit some specific target customers
capacity management
universal functions of marketing
target marketing
variable costs
23. A strategy of ducking under a competitor's price by a fixed percentage
core product
combiners
umbrella pricing
trial pricing
24. A relatively permanent change in behavior caused by acquired information or experience
target costing
price-floor pricing
learning
qualifying dimensions
25. A totally new product that creates major changes in the way we live
discontinuous innovation
gen y
customer forecasting survey
loss-leader pricing
26. The final stage in the product life cycle - in which sales decrease as customer needs change
sex roles
regression analysis
decline stage
sustainability
27. People whose children are grown and who are now able to spend their money in other ways
empty nesters
Delphi technique
self-concept
operant conditioning
28. Pricing that is intended to maximize customer satisfaction and retention
target costing
core product
baby boomers
customer satisfaction objective
29. Moral standards that guide marketing decisions and actions
nondurable goods
market test
marketing ethics
trade or functional discounts
30. The strategy of selling products at unreasonably low prices to drive competitors out of business
price maintenance
penetration strategy
tipping point
predatory pricing
31. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
target costing
clickstream analysis
micromarketing
brand loyalty
32. 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
competitive effect objective
licensing
classical conditioning
Delphi technique
33. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
growth stage
brand loyalty
demand-based pricing
breakthrough opportunities
34. A manager who is responsible for developing and implementing the marketing plan for a single brand
internal reference price
demand-based pricing
target marketing
brand manager
35. 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
trade or functional discounts
list price
product line
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
goods
cause-related marketing
trial pricing
regression analysis
37. A strategy where prices are set significantly higher than competing brands
price elastic
clickstream analysis
penetration strategy
prestige pricing
38. The last consumers to adopt the innovation
empty nesters
price elasticity
laggards
predatory pricing
39. The physical good or the delivered service that supplies the desired benefit
margin
mass marketing
actual product
sex roles
40. An internal state that drives us to satisfy needs by activating goal-oriented behavior
multicultural marketing
motivation
predatory pricing
multiple target market approach
41. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
hierarchy of needs
cognitive dissonance
impulse product
uniform delivered pricing
42. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes
price-floor pricing
operating costs
expert forecasting survey
market segmentation
43. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
unsought products
operant conditioning
family brand
trade or functional discounts
44. A pricing tactic of charging reduced prices for larger quantities of product
late majority
nondurable goods
quantity discounts
combiners
45. 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 of ownership
price
demand curve
price elasticity
46. Brands that are owned and sold by a specific - retailer or distributor
store or private-label brands
random factor analysis
introduction
price inelastic
47. Tangible products we can see - touch - smell - hear - taste
market test
goods
strategic business unit sbu
internal reference price
48. Brands that the manufacturer of the product owns
co-branding
national or manufacturer brands
executive judgement
late majority
49. Sometimes called millenials - refer to those born from 1978-1994
core product
gen y
generic marketing
qualifying dimensions
50. A change in an existing product that requires a moderate amount of learning or behavior change
dynamically continuous innovation
quantity discounts
price discrimination
brand loyalty