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. When each family unit produces everything it consumes
laggards
value pricing everyday low-pricing
pure subsistence economy
brand manager
2. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time
cost of ownership
judgment
licensing
trial pricing
3. An organizational unit that focuses on some product markets and is treated as a separate profit center
information search
co-branding
nondurable goods
strategic business unit sbu
4. A homogeneous group of customers who will respond to a marketing mix in a similiar way
multicultural marketing
market segment
core product
zone pricing
5. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
hierarchy of needs
generic marketing
licensing
price
6. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
non-cumulative quantity discounts
quantity discounts
test marketing
stimulus generalization
7. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
convenience product
brand equity
portfolio management
metropolitan statistical area (msa)
8. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
zone pricing
SWOT analysis
list price
single target market approach
9. Income that is adjusted to take out the effects of inflation on purchasing power
behavioral learning theories
single target market approach
real income
maintenance - repair - and operating products
10. A pricing tactic in which customers in different geographic zones pay different transportation rates
venture teams
consumer satisfaction/dissatisfiaction
opportunity cost
zone pricing
11. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
new product failure
sales force forecasting survey
dynamically continuous innovation
birthrate
12. Costs of production that do not change with the number of units produced
umbrella pricing
product line
fixed costs
consumer-to-consumer e-commerce
13. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
micromarketing
innovation
introduction
test marketing
14. A pricing strategy that considers the lifetime cost of using the product
competitive effect objective
cost of ownership
discontinuous innovation
market segmentation
15. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
breakthrough opportunities
loss-leader pricing
convenience product
product adoption
16. A change in beliefs or actions as a reaction to real or imagined group pressure
price discrimination
margin
price
conformity
17. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
bid riggin
real income
market segmentation
subculture
18. A change in an existing product that requires a moderate amount of learning or behavior change
universal functions of marketing
hierarchy of needs
dynamically continuous innovation
status symbols
19. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
specialty products
demand-based pricing
umbrella pricing
demand curve
20. A strategy of ducking under a competitor's price by a fixed percentage
determining dimensions
umbrella pricing
f.o.b. origin pricing
bid riggin
21. The first segment (2.5%) of a population to adopt a new product
loss-leader pricing
innovators
mass selling
margin
22. An integrated economic and social unit wit a large population nucleus
multicultural marketing
segments
expert forecasting survey
metropolitan statistical area (msa)
23. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item
f.o.b. delivered pricing
innovators
bait and switch
profit objective
24. An agreement between two brands to work together in marketing new or existing products
sustainability
micromarketing
discetionary income
co-branding
25. 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
brand manager
cost-plus pricing
trademark
loss-leader pricing
26. The division of a market according to benefits that consumers want from the product
goods
tipping point
growth stage
benefit segmentation
27. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
licensing
zone pricing
uniform delivered pricing
conformity
28. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
hierarchy of needs
dynamic pricing
pure subsistence economy
co-branding
29. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase
late majority
Delphi technique
perceived risk
perception
30. A means of measuring a website's success by tracking customers' movement around the company website
price bundling
family brand
new product failure
clickstream analysis
31. Group of people within an organization who focus exclusively on the development of a new product
venture teams
multicultural marketing
random factor analysis
price inelastic
32. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
target marketing
portfolio management
differentation
margin
33. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
variable pricing
seasonal analysis
mass selling
market test
34. 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
product category manager
discetionary income
f.o.b. origin pricing
opinion leader
35. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
empty nesters
product life cycle
penetration strategy
price leadership (follower)
36. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
competitive effect objective
discetionary income
component parts
segments
37. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
demand-based pricing
market manager
social class
bid riggin
38. The process by which organization adjust their offering in an attempt to match demand
learning
freight absorption pricing
capacity management
expert forecasting survey
39. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
qualifying dimensions
macro marketing
target costing
breakthrough opportunities
40. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
social class
executive judgement
trade or functional discounts
internal reference price
41. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
time-series analysis
seasonal analysis
learning
shopping product
42. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
nondurable goods
brand
stimulus generalization
demand curve
43. The actual interaction between the customer and the service provider
service encounter
online auctions
fixed costs
price lining
44. The loss of sales of an existing product when a new item in a product line or product family is introduced
perceived risk
penetration strategy
staples
cannibalization
45. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
economics of scale
experimental pricing
strategic business unit sbu
loss-leader pricing
46. The strategy of selling products at unreasonably low prices to drive competitors out of business
online auctions
predatory pricing
operant conditioning
prestige pricing
47. A new product that copies with slight modification the design of an original product
judgment
continous innovation
knock-off
determining dimensions
48. 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
heuristics
bartering
market
laggards
49. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
family life cycle
augmented product
growth stage
universal functions of marketing
50. The value that customers give up - or exchange - to obtain a desired product
demand-based pricing
market segmentation
price
raw materials