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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. Products that consumers purchase to signal membership in a desirable social class
status symbols
information search
continous innovation
market information function
2. The practice of setting a limited number of different specific prices - called price points - for items in a product line
target marketing
consideration set
emergency product
price lining
3. The last consumers to adopt the innovation
status symbols
gen x
laggards
price elastic
4. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
sales forecast
introduction
operant conditioning
experimental pricing
5. A change in beliefs or actions as a reaction to real or imagined group pressure
learning
brand equity
staples
conformity
6. Aim at one or more homogeneous segments and try to develop different marketing mix for each
metropolitan statistical area (msa)
segments
component parts
convenience product
7. Pricing intended to establish a desired image or positioning to prospective customers
cognitive learning theory
image enhancement objective
raw materials
inelastic demand
8. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
durable goods
economics of scale
sales force forecasting survey
market test
9. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
early adopters
augmented product
clickstream analysis
raw materials
10. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
nondurable goods
senior citizens
behavioral learning theories
margin
11. A new product that copies with slight modification the design of an original product
consumer-to-consumer e-commerce
cannibalization
knock-off
quantity discounts
12. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
trade or functional discounts
dynamic pricing
service encounter
baby boomers
13. Relevant to including a customer type in a product market
qualifying dimensions
staples
single target market approach
fast-moving consumer goods
14. Products we purchase when we're in dire need
pure subsistence economy
emergency product
licensing
variable pricing
15. Discounts based on the total quantity bought within a specified time period
variable costs
trademark
target marketing
cumulative quantity discounts
16. 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
cycle analysis
venture teams
predatory pricing
f.o.b. delivered pricing
17. 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
impulse product
mass selling
price subsidies
nondurable goods
18. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top
store or private-label brands
hierarchy of needs
discontinuous innovation
brand manager
19. The practice of linking products to a particular social cause on an ongoing or short-term basis
cause-related marketing
brand
cycle analysis
dynamically continuous innovation
20. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
emergency product
bait and switch
disposable income
portfolio management
21. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
store or private-label brands
consumer-to-consumer e-commerce
information search
consideration set
22. Those that actually affect the customers purchase of specific product or brand in a product market
metropolitan statistical area (msa)
market segmentation
price bundling
determining dimensions
23. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
market segment
market
zone pricing
product adoption
24. A strategy of ducking under a competitor's price by a fixed percentage
unsought products
variable costs
umbrella pricing
multicultural marketing
25. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
inelastic demand
durable goods
bartering
customer relationship management (crm)
26. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
capacity management
cumulative quantity discounts
trend analysis
late majority
27. Goods that a business customer consumes in a relatively short time
unsought products
maintenance - repair - and operating products
market segment
target marketing
28. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
processed material
yield-management pricing
shopping product
bait and switch
29. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
SWOT analysis
actual product
heuristics
economics of scale
30. 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
consumer satisfaction/dissatisfiaction
brand loyalty
late majority
processed material
31. Selling two or more goods or services as a single package for one price
segments
consideration set
reference group
price bundling
32. The process by which organization adjust their offering in an attempt to match demand
umbrella pricing
capacity management
product line
cognitive dissonance
33. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
product market
metropolitan statistical area (msa)
market information function
penetration strategy
34. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
equipment
mass marketing
online auctions
sustainability
35. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
expert forecasting survey
prestige pricing
frequent discounting
cognitive dissonance
36. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
venture teams
test marketing
disintermediation
convenience product
37. The actual interaction between the customer and the service provider
personality
service encounter
capacity management
customer satisfaction objective
38. 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
emergency product
market segment
market segmentation
target market
39. 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
product line
loss-leader pricing
convenience product
market
40. The price the end customer is expected to pay as determined by the manufacturer
social class
list price
prestige pricing
demand-based pricing
41. Pricing products to maximize sales or to attain a desired level of sales or market share
bid riggin
sales or market share objective
profit objective
market manager
42. The loss of sales of an existing product when a new item in a product line or product family is introduced
knock-off
cannibalization
product life cycle
evaluative criteria
43. A new product sold with the same brand name as a strong existing brand
micromarketing
brand extension
social class
product life cycle
44. A strategy where prices are set significantly higher than competing brands
portfolio management
trial pricing
differentation
prestige pricing
45. The overall feelings or attitude a person has about a product after purchasing it
consumer satisfaction/dissatisfiaction
competitive advantage
list price
demand curve
46. The dimensions that consumers use to compare completing product alternatives
perception
variable pricing
evaluative criteria
frequent discounting
47. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
evaluative criteria
processed material
penetration strategy
random factor analysis
48. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
self-concept
multicultural marketing
cannibalization
prestige pricing
49. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
demand-based pricing
subculture
raw materials
generic marketing
50. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
bid riggin
involvment
family life cycle
universal functions of marketing