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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. Tangible products we can see - touch - smell - hear - taste
goods
service encounter
pure subsistence economy
gen y
2. The relative importance of perceived consequences of the purchase to a consumer
universal functions of marketing
customer forecasting survey
dynamically continuous innovation
involvment
3. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
venture teams
target costing
market test
diffusion
4. A social process that directs an economy
market segment
macro marketing
single target market approach
augmented product
5. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
cost of ownership
breakthrough opportunities
discetionary income
specialty products
6. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
zone pricing
strategic business unit sbu
price discrimination
customer forecasting survey
7. A means of measuring a website's success by tracking customers' movement around the company website
clickstream analysis
product life cycle
market information function
customer satisfaction
8. The psychological characteristics that consistently influence the way a person responds to situations in the environment
personality
mass marketing
freight absorption pricing
maturity stage
9. The actual interaction between the customer and the service provider
price subsidies
trademark
service encounter
evaluative criteria
10. 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
hierarchy of needs
information search
cumulative quantity discounts
innovators
11. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
sales or market share objective
skimming price
price leadership (follower)
sex roles
12. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
breakthrough opportunities
fast-moving consumer goods
heuristics
loss-leader pricing
13. The marketing mix is distinct from and better than what is available from a competitor
early majority
decline stage
growth stage
differentation
14. Products that consumers purchase to signal membership in a desirable social class
status symbols
generic marketing
micromarketing
multicultural marketing
15. An integrated economic and social unit wit a large population nucleus
breakthrough opportunities
profit objective
prestige pricing
metropolitan statistical area (msa)
16. A product that consumers perceive to be new and different form existing products
cognitive learning theory
shopping product
experimental pricing
innovation
17. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income
social class
strategic business unit sbu
early majority
clustering techniques
18. A relatively permanent change in behavior caused by acquired information or experience
consumer-to-consumer e-commerce
family life cycle
cycle analysis
learning
19. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
reference group
freight absorption pricing
staples
time-series analysis
20. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
augmented product
maintenance - repair - and operating products
price discrimination
introduction
21. Pricing a new product low for a limited period of time to lower the risk for a customer
component parts
early adopters
trial pricing
product market
22. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
sex roles
fixed costs
market segmentation
real income
23. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
late majority
qualifying dimensions
self-concept
bartering
24. A strategy of frequently using sale prices to increase sales volume
frequent discounting
disintermediation
list price
disposable income
25. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
tipping point
operant conditioning
lifestyle
classical conditioning
26. 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
macro marketing
classical conditioning
list price
unsought products
27. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
conformity
quantity discounts
information search
random factor analysis
28. A flexible pricing strategy that reflects what individual customers are willing to pay
demand-based pricing
component parts
variable pricing
target marketing
29. A manager who is responsible for developing and implementing the marketing plan for a single brand
portfolio management
innovation
brand manager
SWOT analysis
30. The values - beliefs - customs - and tastes that a group of people value
culture
random factor analysis
component parts
market information function
31. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
consumer-to-consumer e-commerce
price maintenance
price bundling
single target market approach
32. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
consumer satisfaction/dissatisfiaction
mass selling
personality
SWOT analysis
33. A price-setting method based on estimated of demand at different prices
customer satisfaction
demand-based pricing
combined market approach
actual product
34. An aggregating process - clustering people with similar needs into a "market segment"
customer satisfaction objective
demand curve
sustainability
segmenting
35. Sometimes called millenials - refer to those born from 1978-1994
market manager
lifestyle
gen y
maturity stage
36. Costs of production that do not change with the number of units produced
frequent discounting
single target market approach
fixed costs
online auctions
37. The process by which organization adjust their offering in an attempt to match demand
learning
consideration set
trial pricing
capacity management
38. Refers to the generation born immediately following the baby boom - from 1965-1977
gen x
goods
brand loyalty
skimming price
39. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
metropolitan statistical area (msa)
market manager
baby boomers
product adoption
40. A strategy of experimenting with prices until the price that generates the highest profitability is found
behavioral learning theories
experimental pricing
non-cumulative quantity discounts
culture
41. 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
classical conditioning
price subsidies
clickstream analysis
cause-related marketing
42. Number of babies born per 1000 people fluctuated greatly in last 65 years
licensing
birthrate
expert forecasting survey
operating costs
43. 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
economics of scale
cognitive learning theory
micromarketing
trend analysis
44. 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
staples
cost-plus pricing
prestige pricing
store or private-label brands
45. 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
classical conditioning
price maintenance
maturity stage
experimental pricing
46. Learning that occurs as the result of rewards of punishments
price leadership (follower)
cost-plus pricing
knock-off
operant conditioning
47. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country
shopping product
time-series analysis
strategic business unit sbu
trademark
48. Group of people within an organization who focus exclusively on the development of a new product
disintermediation
sales force forecasting survey
venture teams
quantity discounts
49. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
discetionary income
competitive effect objective
predatory pricing
augmented product
50. A change in beliefs or actions as a reaction to real or imagined group pressure
shopping product
conformity
umbrella pricing
generic marketing