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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. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
seasonal analysis
bait and switch
sustainability
diffusion
2. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
information search
reference group
opinion leader
maintenance - repair - and operating products
3. 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
lifestyle
hierarchy of needs
marketing ethics
unsought products
4. The physical good or the delivered service that supplies the desired benefit
loss-leader pricing
goods
actual product
f.o.b. delivered pricing
5. A strategy of ducking under a competitor's price by a fixed percentage
umbrella pricing
price lining
value pricing everyday low-pricing
internal reference price
6. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
product market
behavioral learning theories
price leadership (follower)
actual product
7. A firm's total product offering designed to satisfy a single need or desire of target customers
multicultural marketing
value pricing everyday low-pricing
discetionary income
product line
8. Discounts based only on the quantity purchased in individual orders
non-cumulative quantity discounts
market test
equipment
price discrimination
9. An agreement between two brands to work together in marketing new or existing products
augmented product
sales or market share objective
co-branding
frequent discounting
10. Group of people within an organization who focus exclusively on the development of a new product
conformity
venture teams
zone pricing
discetionary income
11. 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
breakthrough opportunities
multicultural marketing
target costing
12. Selling two or more goods or services as a single package for one price
price bundling
heuristics
combiners
national or manufacturer brands
13. 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
cognitive learning theory
baby boomers
captive pricing
margin
14. The practice of setting a limited number of different specific prices - called price points - for items in a product line
price lining
list price
variable costs
augmented product
15. Learning that occurs as the result of rewards of punishments
cost of ownership
operant conditioning
image enhancement objective
inelastic demand
16. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
penetration strategy
customer satisfaction objective
specialty products
staples
17. A social process that directs an economy
inelastic demand
mass marketing
experimental pricing
macro marketing
18. A manager who is responsible for developing and implementing the marketing plan for a single brand
hierarchy of needs
f.o.b. delivered pricing
brand manager
attitude
19. The value of something that is given up to obtain something else
fixed costs
variable costs
national or manufacturer brands
opportunity cost
20. Pricing that is intended to maximize customer satisfaction and retention
competitive advantage
market test
cognitive learning theory
customer satisfaction objective
21. Basic or necessary items that are available almost everywhere
service encounter
sustainability
cycle analysis
staples
22. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
involvment
product line
multiple target market approach
information search
23. The strategy of selling products at unreasonably low prices to drive competitors out of business
combined market approach
competitive advantage
sales or market share objective
predatory pricing
24. 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
opinion leader
opportunity cost
late majority
yield-management pricing
25. The value of a brand to an organization
brand equity
lifestyle
consumer satisfaction/dissatisfiaction
store or private-label brands
26. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
universal functions of marketing
variable pricing
captive pricing
heuristics
27. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
market test
brand loyalty
pure subsistence economy
hierarchy of needs
28. A pricing tactic in which the seller absorbs the total cost of transportation
freight absorption pricing
experimental pricing
internal reference price
maturity stage
29. An internal state that drives us to satisfy needs by activating goal-oriented behavior
conformity
diffusion
product category manager
motivation
30. A fairly homogeneous group of customers to whom a company wishes to appeal
target market
experimental pricing
disintermediation
competitive advantage
31. The division of a market according to benefits that consumers want from the product
benefit segmentation
segmenting
operant conditioning
price maintenance
32. 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
bid riggin
introduction
learning
Delphi technique
33. The collaboration of two or more firms in setting prices - usually to keep prices high
price maintenance
predatory pricing
nondurable goods
yield-management pricing
34. The difference between the cost of the product and the selling price of the product
margin
involvment
evaluative criteria
value pricing everyday low-pricing
35. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
growth stage
product category manager
market segment
maturity stage
36. Products that consumers purchase to signal membership in a desirable social class
status symbols
predatory pricing
SWOT analysis
information search
37. A pricing strategy that considers the lifetime cost of using the product
bartering
price elasticity
cost of ownership
unsought products
38. People whose children are grown and who are now able to spend their money in other ways
uniform delivered pricing
empty nesters
breakthrough opportunities
f.o.b. origin pricing
39. 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
cognitive learning theory
price subsidies
mass marketing
40. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
sales force forecasting survey
price
clickstream analysis
operant conditioning
41. 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
early adopters
market information function
generic marketing
classical conditioning
42. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
operant conditioning
cognitive learning theory
new product failure
product adoption
43. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
trademark
empty nesters
consumer-to-consumer e-commerce
breakthrough opportunities
44. Those who adopt an innovation early in the diffusion process but later than the innovators
stimulus generalization
bait and switch
quantity discounts
early adopters
45. A means of characterizing consumers based on the different family stages they pass through as they grow older
family life cycle
variable pricing
sales or market share objective
product life cycle
46. A pricing tactic in which customers in different geographic zones pay different transportation rates
social class
zone pricing
conformity
discontinuous innovation
47. A modification of an existing product that sets one brand apart from its competitors
margin
continous innovation
fixed costs
cost-plus pricing
48. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
consideration set
brand manager
differentation
lifestyle
49. A change in an existing product that requires a moderate amount of learning or behavior change
marketing ethics
dynamically continuous innovation
pure subsistence economy
trial pricing
50. Communicating with large numbers of customers at the same time
competitive advantage
mass marketing
unsought products
mass selling