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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 seller fine tunes the marketing effort with info from a detailed customer database
customer relationship management (crm)
breakthrough opportunities
loss-leader pricing
sales forecast
2. Products we purchase when we're in dire need
trademark
nondurable goods
emergency product
non-cumulative quantity discounts
3. Basic or necessary items that are available almost everywhere
fast-moving consumer goods
staples
uniform delivered pricing
f.o.b. origin pricing
4. Segmenting the market and picking one of the homogeneous segments as the firms target market
single target market approach
brand loyalty
decline stage
price inelastic
5. A pricing strategy in which a firm sets prices that provide ultimate value to customers
value pricing everyday low-pricing
universal functions of marketing
maintenance - repair - and operating products
real income
6. The practice of exchanging a good or service for another good or service of like value
brand
determining dimensions
price elastic
bartering
7. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
Delphi technique
real income
sustainability
regression analysis
8. 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
reciprocity
discontinuous innovation
seasonal analysis
9. Those that actually affect the customers purchase of specific product or brand in a product market
social class
target costing
perception
determining dimensions
10. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
hierarchy of needs
behavioral learning theories
value pricing everyday low-pricing
licensing
11. 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
senior citizens
online auctions
family life cycle
trademark
12. A firm's total product offering designed to satisfy a single need or desire of target customers
multiple target market approach
product line
determining dimensions
raw materials
13. Pricing a new product low for a limited period of time to lower the risk for a customer
trial pricing
trade or functional discounts
zone pricing
price maintenance
14. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
internal reference price
customer relationship management (crm)
baby boomers
involvment
15. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
price elasticity
gen y
information search
price discrimination
16. A strategy of ducking under a competitor's price by a fixed percentage
product life cycle
consumer-to-consumer e-commerce
fast-moving consumer goods
umbrella pricing
17. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
price bundling
product adoption
f.o.b. origin pricing
online auctions
18. Brands that are owned and sold by a specific - retailer or distributor
multiple target market approach
store or private-label brands
random factor analysis
fast-moving consumer goods
19. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
behavioral learning theories
learning
introduction
price lining
20. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
discontinuous innovation
attitude
growth stage
Delphi technique
21. 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
product market
market
competitive advantage
margin
22. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
early majority
licensing
customer forecasting survey
price elasticity
23. Costs involved in moving from one brand to another
learning
universal functions of marketing
switching costs
innovators
24. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
consumer behavior
list price
convenience product
decline stage
25. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same
brand equity
demand curve
operating costs
competitive advantage
26. A homogeneous group of customers who will respond to a marketing mix in a similiar way
empty nesters
brand equity
gen x
market segment
27. A pricing tactic of charging reduced prices for larger quantities of product
frequent discounting
specialty products
quantity discounts
non-cumulative quantity discounts
28. A new product sold with the same brand name as a strong existing brand
reference group
brand extension
variable pricing
sales forecast
29. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
executive judgement
uniform delivered pricing
capacity management
subculture
30. E-commerce that allows shoppers to purchase products through online bidding
yield-management pricing
demand curve
online auctions
sales or market share objective
31. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri
emergency product
learning
target costing
market manager
32. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
product life cycle
f.o.b. origin pricing
customer relationship management (crm)
augmented product
33. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
mass marketing
market segmentation
family brand
variable costs
34. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
shopping product
price maintenance
brand extension
single target market approach
35. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
price inelastic
discetionary income
stimulus generalization
specialty products
36. A new product that copies with slight modification the design of an original product
family life cycle
bait and switch
f.o.b. delivered pricing
knock-off
37. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
multiple target market approach
brand
universal functions of marketing
variable pricing
38. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
customer satisfaction
market manager
behavioral learning theories
consumer behavior
39. The price the end customer is expected to pay as determined by the manufacturer
frequent discounting
perceived risk
equipment
list price
40. 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
differentation
multiple target market approach
licensing
price-floor pricing
41. A totally new product that creates major changes in the way we live
discontinuous innovation
freight absorption pricing
sales force forecasting survey
late majority
42. A marketing mix is tailored to fit some specific target customers
bartering
market segmentation
target marketing
mass marketing
43. A strategy where prices are set significantly higher than competing brands
learning
prestige pricing
raw materials
bid riggin
44. An arrangement unique to business marketing in which two organizations agree to buy from each other
family brand
segmenting
reciprocity
brand loyalty
45. To try to increase the size of their target markets by combining two or more segments
family brand
market segment
combiners
customer satisfaction
46. The value of something that is given up to obtain something else
opportunity cost
value pricing everyday low-pricing
trademark
gen y
47. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
maturity stage
store or private-label brands
market information function
customer relationship management (crm)
48. The pricing strategy of setting prices below cost to attract customers into a store
market segmentation
tipping point
loss-leader pricing
sales force forecasting survey
49. Pricing intended to establish a desired image or positioning to prospective customers
online auctions
market manager
image enhancement objective
bid riggin
50. A brand that a group of individual products or individual brands share
stimulus generalization
family brand
price discrimination
product adoption