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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. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
cognitive dissonance
discetionary income
list price
self-concept
2. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
reciprocity
single target market approach
disposable income
yield-management pricing
3. A change in an existing product that requires a moderate amount of learning or behavior change
trade or functional discounts
dynamically continuous innovation
continous innovation
SWOT analysis
4. The loss of sales of an existing product when a new item in a product line or product family is introduced
discetionary income
cannibalization
knock-off
trademark
5. 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
predatory pricing
cognitive dissonance
family life cycle
cognitive learning theory
6. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
market test
bid riggin
trademark
segmenting
7. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
test marketing
sales forecast
expert forecasting survey
decline stage
8. An integrated economic and social unit wit a large population nucleus
random factor analysis
sales or market share objective
metropolitan statistical area (msa)
experimental pricing
9. The last consumers to adopt the innovation
laggards
disposable income
generic marketing
demand-based pricing
10. The final stage in the product life cycle - in which sales decrease as customer needs change
trademark
decline stage
continous innovation
determining dimensions
11. A strategy of experimenting with prices until the price that generates the highest profitability is found
time-series analysis
experimental pricing
judgment
determining dimensions
12. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
Delphi technique
learning
durable goods
SWOT analysis
13. 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
bartering
hierarchy of needs
portfolio management
customer forecasting survey
14. A new product sold with the same brand name as a strong existing brand
hierarchy of needs
brand extension
customer satisfaction
consumer satisfaction/dissatisfiaction
15. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
emergency product
perception
trend analysis
service encounter
16. The seller fine tunes the marketing effort with info from a detailed customer database
zone pricing
decline stage
customer relationship management (crm)
innovation
17. Extent to which a firm fulfills a customers needs - desires - and expectations
gen x
portfolio management
customer satisfaction
stimulus generalization
18. Discounts based only on the quantity purchased in individual orders
non-cumulative quantity discounts
learning
portfolio management
zone pricing
19. Pricing that is intended to maximize customer satisfaction and retention
cost-plus pricing
customer satisfaction objective
late majority
margin
20. A situation in which an increase or a decrease in price will not significantly affect demand for the product
breakthrough opportunities
inelastic demand
stimulus generalization
continous innovation
21. The process of eliminating interaction between customers and service providers
continous innovation
bait and switch
disintermediation
subculture
22. Products that exhibit consistently high velocity sales in the consumer marketplace
multiple target market approach
brand loyalty
frequent discounting
fast-moving consumer goods
23. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
clustering techniques
internal reference price
price elastic
economics of scale
24. 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
learning
cycle analysis
market segment
market information function
25. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.
demand curve
motivation
sales force forecasting survey
predatory pricing
26. The overall feelings or attitude a person has about a product after purchasing it
consumer satisfaction/dissatisfiaction
reciprocity
price bundling
brand extension
27. A totally new product that creates major changes in the way we live
brand manager
national or manufacturer brands
discontinuous innovation
core product
28. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
co-branding
consumer behavior
trend analysis
expert forecasting survey
29. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
information search
price leadership (follower)
hierarchy of needs
target costing
30. Refers to the generation born immediately following the baby boom - from 1965-1977
diffusion
perceived risk
national or manufacturer brands
gen x
31. When a percentage change in price results in a smaller percentage change in the quantity demanded
price inelastic
status symbols
uniform delivered pricing
market segment
32. Sometimes called millenials - refer to those born from 1978-1994
reciprocity
information search
gen y
trademark
33. The first segment (2.5%) of a population to adopt a new product
seasonal analysis
consumer behavior
innovators
market information function
34. When each family unit produces everything it consumes
fast-moving consumer goods
universal functions of marketing
metropolitan statistical area (msa)
pure subsistence economy
35. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
early majority
segmenting
customer forecasting survey
cognitive learning theory
36. The actual interaction between the customer and the service provider
trend analysis
service encounter
cost-plus pricing
unsought products
37. A strategy of frequently using sale prices to increase sales volume
breakthrough opportunities
price bundling
frequent discounting
subculture
38. Costs involved in moving from one brand to another
captive pricing
switching costs
customer relationship management (crm)
pure subsistence economy
39. Brands that are owned and sold by a specific - retailer or distributor
consumer satisfaction/dissatisfiaction
f.o.b. origin pricing
determining dimensions
store or private-label brands
40. Tohose whose adoption to a new product signals a general acceptance of the innovation
cost-plus pricing
reference group
early majority
involvment
41. 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
clickstream analysis
subculture
price lining
classical conditioning
42. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
demand-based pricing
judgment
equipment
product market
43. To try to increase the size of their target markets by combining two or more segments
demand-based pricing
consumer satisfaction/dissatisfiaction
combiners
equipment
44. People born between 1946 and 1964
price-floor pricing
baby boomers
fixed costs
processed material
45. The percentage change in unit sales that results from a percentage change in price
price elasticity
product life cycle
freight absorption pricing
disintermediation
46. An arrangement unique to business marketing in which two organizations agree to buy from each other
regression analysis
reciprocity
perceived risk
price subsidies
47. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
co-branding
involvment
price lining
introduction
48. The physical good or the delivered service that supplies the desired benefit
perception
combined market approach
consumer-to-consumer e-commerce
actual product
49. A price-setting method based on estimated of demand at different prices
durable goods
demand-based pricing
gen y
brand loyalty
50. Pricing intended to establish a desired image or positioning to prospective customers
image enhancement objective
online auctions
attitude
metropolitan statistical area (msa)