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Test your basic knowledge |
Marketing Basics
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Subject
:
business-skills
Instructions:
Answer 50 questions in 15 minutes.
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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 the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer
macro marketing
f.o.b. delivered pricing
trial pricing
benefit segmentation
2. Goods that a business customer consumes in a relatively short time
maintenance - repair - and operating products
skimming price
marketing ethics
cause-related marketing
3. Expensive goods that an organization uses in its daily operations that last for a long time
equipment
baby boomers
freight absorption pricing
price subsidies
4. The process by which organization adjust their offering in an attempt to match demand
capacity management
raw materials
bid riggin
reference group
5. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
customer relationship management (crm)
national or manufacturer brands
captive pricing
raw materials
6. Those that actually affect the customers purchase of specific product or brand in a product market
cycle analysis
core product
real income
determining dimensions
7. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
market segmentation
bait and switch
hierarchy of needs
trade or functional discounts
8. People over 65
senior citizens
bait and switch
Delphi technique
opportunity cost
9. The final stage in the product life cycle - in which sales decrease as customer needs change
knock-off
conformity
decline stage
bid riggin
10. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
online auctions
new product failure
price leadership (follower)
11. Number of babies born per 1000 people fluctuated greatly in last 65 years
birthrate
conformity
dynamically continuous innovation
clustering techniques
12. When a percentage change in price results in a smaller percentage change in the quantity demanded
self-concept
demand-based pricing
segments
price inelastic
13. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
SWOT analysis
equipment
continous innovation
reciprocity
14. To try to increase the size of their target markets by combining two or more segments
combiners
sex roles
licensing
empty nesters
15. Pricing products with a focus on a target level of profit growth or a desired net profit margin
demand-based pricing
classical conditioning
profit objective
sales or market share objective
16. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
customer forecasting survey
continous innovation
trend analysis
core product
17. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline
clickstream analysis
birthrate
classical conditioning
tipping point
18. The process by which the use of a product spreads throughout the population
diffusion
market test
attitude
differentation
19. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
family brand
trend analysis
staples
single target market approach
20. Communicating with large numbers of customers at the same time
market segment
market test
motivation
mass selling
21. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
nondurable goods
personality
internal reference price
sustainability
22. People born between 1946 and 1964
bartering
mass selling
disintermediation
baby boomers
23. Products created when firms transform raw materials from their original state
nondurable goods
learning
market segmentation
processed material
24. The marketing mix is distinct from and better than what is available from a competitor
benefit segmentation
differentation
consideration set
brand equity
25. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
information search
zone pricing
multicultural marketing
online auctions
26. The first segment (2.5%) of a population to adopt a new product
innovators
combined market approach
trade or functional discounts
personality
27. 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
variable pricing
product category manager
gen y
f.o.b. origin pricing
28. A marketing mix is tailored to fit some specific target customers
consumer behavior
combined market approach
cost of ownership
target marketing
29. A brand that a group of individual products or individual brands share
variable pricing
segmenting
sales force forecasting survey
family brand
30. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
SWOT analysis
self-concept
penetration strategy
reference group
31. Sales forecasting based on the intuition of one or more executives
real income
executive judgement
judgment
portfolio management
32. 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
target costing
consumer behavior
disintermediation
evaluative criteria
33. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
tipping point
demand-based pricing
test marketing
inelastic demand
34. 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
market test
trial pricing
service encounter
market
35. An organizational unit that focuses on some product markets and is treated as a separate profit center
demand-based pricing
shopping product
strategic business unit sbu
sustainability
36. Relevant to including a customer type in a product market
operating costs
price elasticity
qualifying dimensions
raw materials
37. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
impulse product
growth stage
sex roles
augmented product
38. 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
margin
Delphi technique
decline stage
trial pricing
39. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
price elastic
shopping product
product line
consumer satisfaction/dissatisfiaction
40. Products that exhibit consistently high velocity sales in the consumer marketplace
early adopters
fast-moving consumer goods
gen y
component parts
41. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit
fast-moving consumer goods
cost-plus pricing
discontinuous innovation
brand
42. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
senior citizens
sex roles
value pricing everyday low-pricing
product adoption
43. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
opportunity cost
product adoption
freight absorption pricing
price discrimination
44. An internal state that drives us to satisfy needs by activating goal-oriented behavior
yield-management pricing
variable pricing
target market
motivation
45. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
zone pricing
captive pricing
sales forecast
cognitive dissonance
46. Brands that are owned and sold by a specific - retailer or distributor
stimulus generalization
store or private-label brands
differentation
mass marketing
47. Learning that occurs as the result of rewards of punishments
inelastic demand
co-branding
maturity stage
operant conditioning
48. Extent to which a firm fulfills a customers needs - desires - and expectations
generic marketing
customer satisfaction
continous innovation
cognitive dissonance
49. A pricing tactic in which the seller absorbs the total cost of transportation
image enhancement objective
micromarketing
freight absorption pricing
social class
50. Pricing a new product low for a limited period of time to lower the risk for a customer
social class
clustering techniques
empty nesters
trial pricing
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