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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 difference between the cost of the product and the selling price of the product
trend analysis
price lining
margin
generic marketing
2. The process by which people select - organize - and interpret information form the outside world
perception
knock-off
empty nesters
motivation
3. The last consumers to adopt the innovation
laggards
online auctions
inelastic demand
multiple target market approach
4. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
lifestyle
consumer behavior
customer relationship management (crm)
innovators
5. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
differentation
perceived risk
continous innovation
product market
6. Products that exhibit consistently high velocity sales in the consumer marketplace
umbrella pricing
gen x
target costing
fast-moving consumer goods
7. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition
self-concept
brand
growth stage
actual product
8. The actual interaction between the customer and the service provider
combined market approach
service encounter
cause-related marketing
processed material
9. The set of alternative brands the consumer is considering for the decision process
information search
consideration set
captive pricing
price inelastic
10. A change in an existing product that requires a moderate amount of learning or behavior change
multicultural marketing
dynamically continuous innovation
sales forecast
cognitive learning theory
11. The price the end customer is expected to pay as determined by the manufacturer
product line
judgment
clustering techniques
list price
12. A price-setting method based on estimated of demand at different prices
baby boomers
demand curve
component parts
demand-based pricing
13. People born between 1946 and 1964
opportunity cost
baby boomers
trademark
unsought products
14. The value of a brand to an organization
shopping product
price lining
predatory pricing
brand equity
15. Costs of production that do not change with the number of units produced
fixed costs
price maintenance
price bundling
frequent discounting
16. Moral standards that guide marketing decisions and actions
brand manager
marketing ethics
early adopters
multiple target market approach
17. Refers to the generation born immediately following the baby boom - from 1965-1977
test marketing
image enhancement objective
core product
gen x
18. Goods that a business customer consumes in a relatively short time
demand curve
maintenance - repair - and operating products
trade or functional discounts
list price
19. The value that customers give up - or exchange - to obtain a desired product
co-branding
profit objective
price
target costing
20. A change in beliefs or actions as a reaction to real or imagined group pressure
discontinuous innovation
sales forecast
time-series analysis
conformity
21. The process by which organization adjust their offering in an attempt to match demand
list price
capacity management
price subsidies
gen x
22. Those who adopt an innovation early in the diffusion process but later than the innovators
attitude
opportunity cost
early adopters
product adoption
23. The seller fine tunes the marketing effort with info from a detailed customer database
customer relationship management (crm)
innovators
determining dimensions
sales force forecasting survey
24. 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
family brand
Delphi technique
sales or market share objective
brand loyalty
25. Pricing that is intended to maximize customer satisfaction and retention
price lining
customer satisfaction objective
price elasticity
sales or market share objective
26. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
market segmentation
cost-plus pricing
sales force forecasting survey
pure subsistence economy
27. An organizational unit that focuses on some product markets and is treated as a separate profit center
strategic business unit sbu
mass selling
executive judgement
gen x
28. People over 65
gen x
mass marketing
senior citizens
involvment
29. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
skimming price
family life cycle
combined market approach
penetration strategy
30. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
product life cycle
margin
market information function
involvment
31. A strategy where prices are set significantly higher than competing brands
perception
trial pricing
cause-related marketing
prestige pricing
32. A brand that a group of individual products or individual brands share
zone pricing
subculture
disposable income
family brand
33. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
image enhancement objective
trend analysis
brand
staples
34. Pricing products with a focus on a target level of profit growth or a desired net profit margin
profit objective
unsought products
price bundling
cognitive dissonance
35. 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
augmented product
birthrate
price bundling
market segmentation
36. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
strategic business unit sbu
consideration set
subculture
customer relationship management (crm)
37. A strategy of experimenting with prices until the price that generates the highest profitability is found
learning
experimental pricing
early adopters
zone pricing
38. An agreement between two brands to work together in marketing new or existing products
co-branding
knock-off
switching costs
random factor analysis
39. Charging a very high - premium price for a new product
skimming price
consumer behavior
competitive effect objective
variable costs
40. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
motivation
sustainability
cannibalization
market
41. The collaboration of two or more firms in setting prices - usually to keep prices high
national or manufacturer brands
margin
information search
price maintenance
42. Brands that the manufacturer of the product owns
cumulative quantity discounts
operating costs
national or manufacturer brands
benefit segmentation
43. Tohose whose adoption to a new product signals a general acceptance of the innovation
stimulus generalization
early majority
durable goods
decline stage
44. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
price leadership (follower)
market segmentation
market information function
innovators
45. Pricing intended to establish a desired image or positioning to prospective customers
image enhancement objective
list price
price bundling
predatory pricing
46. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas
market
evaluative criteria
market information function
tipping point
47. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
multicultural marketing
fixed costs
customer satisfaction objective
behavioral learning theories
48. The division of a market according to benefits that consumers want from the product
capacity management
reciprocity
product adoption
benefit segmentation
49. A product people often buy on the spur of the moment
umbrella pricing
segmenting
prestige pricing
impulse product
50. The strategy of selling products at unreasonably low prices to drive competitors out of business
predatory pricing
customer relationship management (crm)
prestige pricing
lifestyle