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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. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
cannibalization
metropolitan statistical area (msa)
growth stage
stimulus generalization
2. What is left after taxes
disposable income
market
loss-leader pricing
empty nesters
3. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
brand
price leadership (follower)
penetration strategy
4. A fairly homogeneous group of customers to whom a company wishes to appeal
target market
early majority
involvment
co-branding
5. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production
heuristics
personality
dynamically continuous innovation
price-floor pricing
6. 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
competitive effect objective
target costing
processed material
mass selling
7. An aggregating process - clustering people with similar needs into a "market segment"
skimming price
expert forecasting survey
market segmentation
segmenting
8. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
brand
bartering
multicultural marketing
culture
9. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
combined market approach
yield-management pricing
durable goods
store or private-label brands
10. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
decline stage
expert forecasting survey
stimulus generalization
inelastic demand
11. A means of characterizing consumers based on the different family stages they pass through as they grow older
variable pricing
family life cycle
cognitive dissonance
SWOT analysis
12. The division of a market according to benefits that consumers want from the product
innovators
clickstream analysis
benefit segmentation
goods
13. Group of people within an organization who focus exclusively on the development of a new product
venture teams
combiners
diffusion
status symbols
14. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
continous innovation
demand-based pricing
bid riggin
competitive advantage
15. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
family life cycle
variable pricing
product category manager
conformity
16. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
clustering techniques
growth stage
universal functions of marketing
laggards
17. 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
variable costs
classical conditioning
involvment
sales forecast
18. People over 65
evaluative criteria
national or manufacturer brands
senior citizens
pure subsistence economy
19. A homogeneous group of customers who will respond to a marketing mix in a similiar way
new product failure
perception
fast-moving consumer goods
market segment
20. 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
brand loyalty
uniform delivered pricing
market information function
clickstream analysis
21. 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
laggards
specialty products
price subsidies
empty nesters
22. Moral standards that guide marketing decisions and actions
product market
marketing ethics
clustering techniques
image enhancement objective
23. Pricing that is intended to maximize customer satisfaction and retention
breakthrough opportunities
f.o.b. origin pricing
customer satisfaction objective
marketing ethics
24. The relative importance of perceived consequences of the purchase to a consumer
involvment
experimental pricing
dynamically continuous innovation
reciprocity
25. 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
umbrella pricing
cognitive learning theory
list price
actual product
26. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
yield-management pricing
mass selling
venture teams
trademark
27. A new product that does not reach expectations for success - failing to reach sales objectives set
f.o.b. origin pricing
trial pricing
brand extension
new product failure
28. People whose children are grown and who are now able to spend their money in other ways
shopping product
new product failure
empty nesters
cannibalization
29. The physical good or the delivered service that supplies the desired benefit
marketing ethics
laggards
price inelastic
actual product
30. When a percentage change in price results in a smaller percentage change in the quantity demanded
price inelastic
multiple target market approach
image enhancement objective
shopping product
31. A pricing strategy that considers the lifetime cost of using the product
learning
regression analysis
metropolitan statistical area (msa)
cost of ownership
32. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
self-concept
customer satisfaction objective
motivation
market test
33. An arrangement unique to business marketing in which two organizations agree to buy from each other
reciprocity
introduction
market segment
generic marketing
34. The process by which the use of a product spreads throughout the population
sustainability
diffusion
innovators
lifestyle
35. An integrated economic and social unit wit a large population nucleus
judgment
metropolitan statistical area (msa)
staples
profit objective
36. A pricing tactic of charging reduced prices for larger quantities of product
test marketing
quantity discounts
price maintenance
segments
37. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
multiple target market approach
variable costs
hierarchy of needs
product life cycle
38. A strategy of ducking under a competitor's price by a fixed percentage
test marketing
durable goods
umbrella pricing
nondurable goods
39. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
consumer behavior
perceived risk
SWOT analysis
target marketing
40. When each family unit produces everything it consumes
customer forecasting survey
pure subsistence economy
judgment
price maintenance
41. 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
social class
laggards
price inelastic
bait and switch
42. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
skimming price
quantity discounts
mass marketing
consumer satisfaction/dissatisfiaction
43. A price-setting method based on estimated of demand at different prices
variable pricing
brand extension
market information function
demand-based pricing
44. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
disposable income
internal reference price
regression analysis
f.o.b. origin pricing
45. Income that is adjusted to take out the effects of inflation on purchasing power
generic marketing
learning
customer forecasting survey
real income
46. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
market test
gen x
brand manager
operating costs
47. The set of alternative brands the consumer is considering for the decision process
fixed costs
heuristics
segmenting
consideration set
48. An organizational unit that focuses on some product markets and is treated as a separate profit center
personality
price leadership (follower)
strategic business unit sbu
market information function
49. The price the end customer is expected to pay as determined by the manufacturer
stimulus generalization
list price
introduction
market segment
50. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
senior citizens
test marketing
marketing ethics
bait and switch