SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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 percentage change in unit sales that results from a percentage change in price
f.o.b. delivered pricing
cost of ownership
fast-moving consumer goods
price elasticity
2. The psychological characteristics that consistently influence the way a person responds to situations in the environment
loss-leader pricing
demand curve
personality
maintenance - repair - and operating products
3. Costs involved in using a product
operating costs
price elasticity
sustainability
diffusion
4. 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
gen y
executive judgement
opinion leader
product adoption
5. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
goods
information search
f.o.b. delivered pricing
innovation
6. A flexible pricing strategy that reflects what individual customers are willing to pay
variable pricing
gen x
breakthrough opportunities
brand manager
7. A situation in which an increase or a decrease in price will not significantly affect demand for the product
subculture
random factor analysis
Delphi technique
inelastic demand
8. 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
competitive advantage
social class
co-branding
store or private-label brands
9. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
market manager
breakthrough opportunities
internal reference price
market test
10. The difference between the cost of the product and the selling price of the product
specialty products
margin
family life cycle
raw materials
11. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
cognitive dissonance
judgment
dynamic pricing
service encounter
12. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
reference group
cognitive learning theory
fast-moving consumer goods
self-concept
13. A firm's total product offering designed to satisfy a single need or desire of target customers
product line
heuristics
time-series analysis
store or private-label brands
14. 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
specialty products
innovation
classical conditioning
SWOT analysis
15. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
subculture
opinion leader
brand loyalty
variable pricing
16. The value that customers give up - or exchange - to obtain a desired product
portfolio management
combined market approach
learning
price
17. Sales forecasting based on the intuition of one or more executives
staples
executive judgement
bait and switch
convenience product
18. Charging a very high - premium price for a new product
skimming price
lifestyle
disintermediation
culture
19. A manager who is responsible for developing and implementing the marketing plan for a single brand
brand manager
birthrate
macro marketing
cause-related marketing
20. The practice of setting a limited number of different specific prices - called price points - for items in a product line
pure subsistence economy
price lining
operant conditioning
marketing ethics
21. The strategy of selling products at unreasonably low prices to drive competitors out of business
qualifying dimensions
predatory pricing
capacity management
skimming price
22. A new product that copies with slight modification the design of an original product
knock-off
attitude
decline stage
list price
23. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
co-branding
test marketing
product category manager
benefit segmentation
24. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
micromarketing
market segmentation
multiple target market approach
introduction
25. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
penetration strategy
product market
combined market approach
component parts
26. The collaboration of two or more firms in setting prices - usually to keep prices high
price maintenance
family brand
generic marketing
information search
27. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
laggards
specialty products
strategic business unit sbu
switching costs
28. An agreement between two brands to work together in marketing new or existing products
emergency product
co-branding
executive judgement
yield-management pricing
29. Combining two or more submarkets into one larger target market as a basis for one strategy
online auctions
actual product
augmented product
combined market approach
30. Basic or necessary items that are available almost everywhere
staples
opinion leader
perceived risk
sales forecast
31. The belief that use of a product has potentially negative consequences - either financial - physical or social
perceived risk
trial pricing
profit objective
price elasticity
32. Sometimes called millenials - refer to those born from 1978-1994
price bundling
family brand
multicultural marketing
gen y
33. Tohose whose adoption to a new product signals a general acceptance of the innovation
early majority
gen x
freight absorption pricing
venture teams
34. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
behavioral learning theories
attitude
brand loyalty
gen x
35. Discounts based only on the quantity purchased in individual orders
non-cumulative quantity discounts
executive judgement
regression analysis
segmenting
36. A new product sold with the same brand name as a strong existing brand
shopping product
brand extension
captive pricing
staples
37. A price-setting method based on estimated of demand at different prices
laggards
maintenance - repair - and operating products
metropolitan statistical area (msa)
demand-based pricing
38. The process by which the use of a product spreads throughout the population
shopping product
knock-off
qualifying dimensions
diffusion
39. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
portfolio management
knock-off
non-cumulative quantity discounts
self-concept
40. The marketing mix is distinct from and better than what is available from a competitor
actual product
lifestyle
differentation
operant conditioning
41. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
stimulus generalization
random factor analysis
cannibalization
demand-based pricing
42. Pricing that is intended to have an effect on the marketing efforts of the competition
product adoption
raw materials
judgment
competitive effect objective
43. The process by which people select - organize - and interpret information form the outside world
perception
random factor analysis
brand loyalty
cognitive learning theory
44. A social process that directs an economy
macro marketing
f.o.b. delivered pricing
conformity
image enhancement objective
45. Those that actually affect the customers purchase of specific product or brand in a product market
price discrimination
customer satisfaction objective
determining dimensions
perception
46. To try to increase the size of their target markets by combining two or more segments
brand
brand extension
growth stage
combiners
47. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
cycle analysis
demand-based pricing
disintermediation
late majority
48. The price the end customer is expected to pay as determined by the manufacturer
list price
cognitive dissonance
combiners
judgment
49. A relatively permanent change in behavior caused by acquired information or experience
uniform delivered pricing
licensing
cause-related marketing
learning
50. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
switching costs
price leadership (follower)
trend analysis
lifestyle