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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 product people often buy on the spur of the moment
discontinuous innovation
margin
seasonal analysis
impulse product
2. The pricing strategy of setting prices below cost to attract customers into a store
market test
price
loss-leader pricing
umbrella pricing
3. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
target marketing
social class
combiners
product adoption
4. Discounts based only on the quantity purchased in individual orders
non-cumulative quantity discounts
micromarketing
value pricing everyday low-pricing
variable costs
5. A new product sold with the same brand name as a strong existing brand
brand extension
innovation
combiners
baby boomers
6. The physical good or the delivered service that supplies the desired benefit
competitive effect objective
demand-based pricing
profit objective
actual product
7. The process of eliminating interaction between customers and service providers
disposable income
attitude
disintermediation
strategic business unit sbu
8. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
differentation
price leadership (follower)
variable costs
generic marketing
9. The set of alternative brands the consumer is considering for the decision process
qualifying dimensions
family life cycle
social class
consideration set
10. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
introduction
nondurable goods
sales or market share objective
bait and switch
11. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
laggards
uniform delivered pricing
decline stage
value pricing everyday low-pricing
12. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
multicultural marketing
target market
target costing
tipping point
13. Learning that occurs as the result of rewards of punishments
sales or market share objective
co-branding
operant conditioning
disintermediation
14. The value of something that is given up to obtain something else
birthrate
price subsidies
opportunity cost
impulse product
15. 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
operant conditioning
disposable income
core product
tipping point
16. 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
skimming price
status symbols
price lining
time-series analysis
17. 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
convenience product
price discrimination
tipping point
18. The practice of linking products to a particular social cause on an ongoing or short-term basis
experimental pricing
cause-related marketing
price leadership (follower)
marketing ethics
19. A price-setting method based on estimated of demand at different prices
processed material
reciprocity
discetionary income
demand-based pricing
20. 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
captive pricing
trade or functional discounts
predatory pricing
goods
21. A strategy of ducking under a competitor's price by a fixed percentage
core product
umbrella pricing
bartering
discetionary income
22. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
predatory pricing
multicultural marketing
raw materials
sustainability
23. Products that exhibit consistently high velocity sales in the consumer marketplace
cause-related marketing
fast-moving consumer goods
unsought products
lifestyle
24. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
venture teams
subculture
perceived risk
store or private-label brands
25. When a percentage change in price results in a smaller percentage change in the quantity demanded
customer satisfaction objective
price inelastic
determining dimensions
product adoption
26. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
customer satisfaction
yield-management pricing
growth stage
f.o.b. origin pricing
27. 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
real income
combiners
cognitive learning theory
fixed costs
28. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
segments
micromarketing
augmented product
price lining
29. The actual interaction between the customer and the service provider
service encounter
yield-management pricing
evaluative criteria
price bundling
30. A totally new product that creates major changes in the way we live
single target market approach
price inelastic
loss-leader pricing
discontinuous innovation
31. The seller fine tunes the marketing effort with info from a detailed customer database
customer relationship management (crm)
bait and switch
behavioral learning theories
segmenting
32. A new product that does not reach expectations for success - failing to reach sales objectives set
trend analysis
convenience product
lifestyle
new product failure
33. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
single target market approach
discetionary income
licensing
34. To try to find similar patterns within sets of data
freight absorption pricing
zone pricing
heuristics
clustering techniques
35. 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
co-branding
price inelastic
price-floor pricing
skimming price
36. The practice of setting a limited number of different specific prices - called price points - for items in a product line
target costing
frequent discounting
price lining
processed material
37. Expensive goods that an organization uses in its daily operations that last for a long time
quantity discounts
equipment
target marketing
breakthrough opportunities
38. The marketing mix is distinct from and better than what is available from a competitor
price
discetionary income
differentation
innovation
39. What is left after taxes
attitude
product category manager
disposable income
discetionary income
40. 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
qualifying dimensions
f.o.b. origin pricing
consumer-to-consumer e-commerce
bait and switch
41. Discounts based on the total quantity bought within a specified time period
portfolio management
competitive advantage
cumulative quantity discounts
Delphi technique
42. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
early adopters
reference group
baby boomers
f.o.b. delivered pricing
43. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories
venture teams
opinion leader
breakthrough opportunities
penetration strategy
44. The values - beliefs - customs - and tastes that a group of people value
family life cycle
culture
actual product
new product failure
45. A manager who is responsible for developing and implementing the marketing plan for a single brand
trial pricing
brand manager
sales force forecasting survey
margin
46. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
personality
economics of scale
clustering techniques
bid riggin
47. People born between 1946 and 1964
combiners
f.o.b. origin pricing
baby boomers
sales forecast
48. A relatively permanent change in behavior caused by acquired information or experience
store or private-label brands
cognitive learning theory
learning
target costing
49. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
test marketing
generic marketing
decline stage
shopping product
50. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
early majority
inelastic demand
growth stage
market manager