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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 values - beliefs - customs - and tastes that a group of people value
segmenting
culture
empty nesters
national or manufacturer brands
2. Extent to which a firm fulfills a customers needs - desires - and expectations
target marketing
maturity stage
brand loyalty
customer satisfaction
3. A brand that a group of individual products or individual brands share
time-series analysis
cost-plus pricing
pure subsistence economy
family brand
4. 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
experimental pricing
growth stage
cannibalization
5. The loss of sales of an existing product when a new item in a product line or product family is introduced
empty nesters
zone pricing
portfolio management
cannibalization
6. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
margin
clustering techniques
customer forecasting survey
classical conditioning
7. To try to increase the size of their target markets by combining two or more segments
test marketing
combiners
quantity discounts
culture
8. The first segment (2.5%) of a population to adopt a new product
co-branding
late majority
cumulative quantity discounts
innovators
9. A strategy of frequently using sale prices to increase sales volume
frequent discounting
target market
customer satisfaction
brand manager
10. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
price elasticity
price
personality
mass marketing
11. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
competitive advantage
price inelastic
information search
operating costs
12. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
random factor analysis
heuristics
frequent discounting
personality
13. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
lifestyle
customer forecasting survey
cycle analysis
family life cycle
14. What is left of disposable income after paying for necessities
discetionary income
culture
actual product
empty nesters
15. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
universal functions of marketing
cost-plus pricing
pure subsistence economy
empty nesters
16. Costs involved in using a product
equipment
introduction
differentation
operating costs
17. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
product life cycle
growth stage
customer forecasting survey
innovators
18. Products we purchase when we're in dire need
augmented product
umbrella pricing
tipping point
emergency product
19. The strategy of selling products at unreasonably low prices to drive competitors out of business
market segment
predatory pricing
conformity
bait and switch
20. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
trend analysis
opportunity cost
price
product life cycle
21. An organizational unit that focuses on some product markets and is treated as a separate profit center
strategic business unit sbu
demand curve
product life cycle
store or private-label brands
22. 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
cannibalization
judgment
classical conditioning
value pricing everyday low-pricing
23. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
self-concept
macro marketing
specialty products
national or manufacturer brands
24. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition
fast-moving consumer goods
operant conditioning
brand loyalty
self-concept
25. 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
baby boomers
universal functions of marketing
venture teams
cognitive learning theory
26. Learning that occurs as the result of rewards of punishments
licensing
Delphi technique
loss-leader pricing
operant conditioning
27. A strategy where prices are set significantly higher than competing brands
customer relationship management (crm)
tipping point
metropolitan statistical area (msa)
prestige pricing
28. Relevant to including a customer type in a product market
qualifying dimensions
universal functions of marketing
consumer behavior
portfolio management
29. Combining two or more submarkets into one larger target market as a basis for one strategy
culture
combined market approach
product market
umbrella pricing
30. A means of characterizing consumers based on the different family stages they pass through as they grow older
f.o.b. origin pricing
reference group
family life cycle
frequent discounting
31. Income that is adjusted to take out the effects of inflation on purchasing power
price-floor pricing
real income
cycle analysis
customer satisfaction
32. A new product that copies with slight modification the design of an original product
knock-off
determining dimensions
margin
cost of ownership
33. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit
early adopters
cycle analysis
disintermediation
cost-plus pricing
34. Expensive goods that an organization uses in its daily operations that last for a long time
equipment
capacity management
convenience product
social class
35. Pricing a new product low for a limited period of time to lower the risk for a customer
knock-off
trial pricing
sex roles
metropolitan statistical area (msa)
36. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
baby boomers
brand manager
behavioral learning theories
image enhancement objective
37. Costs involved in moving from one brand to another
clustering techniques
macro marketing
disintermediation
switching costs
38. A product that consumers perceive to be new and different form existing products
innovation
benefit segmentation
price inelastic
price-floor pricing
39. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
product line
umbrella pricing
product adoption
discontinuous innovation
40. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
profit objective
dynamic pricing
trend analysis
experimental pricing
41. Brands that are owned and sold by a specific - retailer or distributor
dynamic pricing
umbrella pricing
skimming price
store or private-label brands
42. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
equipment
random factor analysis
micromarketing
image enhancement objective
43. The percentage change in unit sales that results from a percentage change in price
conformity
consumer behavior
demand-based pricing
price elasticity
44. 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
market
penetration strategy
price elasticity
image enhancement objective
45. Moral standards that guide marketing decisions and actions
dynamic pricing
brand loyalty
marketing ethics
classical conditioning
46. A change in beliefs or actions as a reaction to real or imagined group pressure
brand extension
empty nesters
conformity
family life cycle
47. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
universal functions of marketing
skimming price
processed material
product market
48. A relatively permanent change in behavior caused by acquired information or experience
universal functions of marketing
late majority
cognitive dissonance
learning
49. Number of babies born per 1000 people fluctuated greatly in last 65 years
loss-leader pricing
non-cumulative quantity discounts
universal functions of marketing
birthrate
50. Brands that the manufacturer of the product owns
national or manufacturer brands
early adopters
attitude
customer satisfaction