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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. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
price-floor pricing
fast-moving consumer goods
sex roles
combined market approach
2. The process of eliminating interaction between customers and service providers
new product failure
non-cumulative quantity discounts
disintermediation
sex roles
3. 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
disposable income
demand curve
subculture
growth stage
4. A totally new product that creates major changes in the way we live
discontinuous innovation
micromarketing
tipping point
loss-leader pricing
5. A pricing tactic of charging reduced prices for larger quantities of product
evaluative criteria
culture
quantity discounts
dynamically continuous innovation
6. The practice of exchanging a good or service for another good or service of like value
image enhancement objective
core product
bartering
sustainability
7. The relative importance of perceived consequences of the purchase to a consumer
involvment
national or manufacturer brands
information search
clickstream analysis
8. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
zone pricing
target market
specialty products
trade or functional discounts
9. The physical good or the delivered service that supplies the desired benefit
actual product
qualifying dimensions
dynamic pricing
perception
10. A marketing mix is tailored to fit some specific target customers
brand extension
profit objective
combined market approach
target marketing
11. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
sex roles
cannibalization
tipping point
penetration strategy
12. Products created when firms transform raw materials from their original state
processed material
social class
capacity management
sustainability
13. Sometimes called millenials - refer to those born from 1978-1994
generic marketing
laggards
sales or market share objective
gen y
14. 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
differentation
market
learning
family brand
15. 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
laggards
variable costs
actual product
opinion leader
16. A relatively permanent change in behavior caused by acquired information or experience
co-branding
learning
expert forecasting survey
price leadership (follower)
17. The difference between the cost of the product and the selling price of the product
economics of scale
trade or functional discounts
social class
margin
18. Selling two or more goods or services as a single package for one price
hierarchy of needs
early adopters
co-branding
price bundling
19. The seller fine tunes the marketing effort with info from a detailed customer database
seasonal analysis
fixed costs
clustering techniques
customer relationship management (crm)
20. A means of characterizing consumers based on the different family stages they pass through as they grow older
attitude
internal reference price
SWOT analysis
family life cycle
21. Discounts based on the total quantity bought within a specified time period
cumulative quantity discounts
competitive advantage
personality
disposable income
22. 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
image enhancement objective
variable costs
licensing
test marketing
23. When a percentage change in price results in a larger percentage change in the quantity demanded
social class
price elastic
product adoption
goods
24. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
SWOT analysis
reciprocity
price lining
baby boomers
25. The price the end customer is expected to pay as determined by the manufacturer
tipping point
durable goods
price
list price
26. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief
price subsidies
family life cycle
strategic business unit sbu
pure subsistence economy
27. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
zone pricing
laggards
breakthrough opportunities
perception
28. Pricing products to maximize sales or to attain a desired level of sales or market share
co-branding
sales or market share objective
segmenting
knock-off
29. A change in an existing product that requires a moderate amount of learning or behavior change
learning
dynamically continuous innovation
behavioral learning theories
emergency product
30. The process by which the use of a product spreads throughout the population
diffusion
innovators
switching costs
brand
31. Pricing that is intended to have an effect on the marketing efforts of the competition
introduction
subculture
competitive effect objective
operant conditioning
32. A mental rule of thumb that leads to a speedy decision by simplifying the process
actual product
heuristics
strategic business unit sbu
service encounter
33. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
marketing ethics
sales forecast
captive pricing
34. A means of measuring a website's success by tracking customers' movement around the company website
clickstream analysis
shopping product
fast-moving consumer goods
brand
35. People whose children are grown and who are now able to spend their money in other ways
freight absorption pricing
empty nesters
price
sales or market share objective
36. An internal state that drives us to satisfy needs by activating goal-oriented behavior
actual product
freight absorption pricing
motivation
cause-related marketing
37. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item
service encounter
captive pricing
core product
inelastic demand
38. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
birthrate
random factor analysis
cost-plus pricing
opportunity cost
39. People born between 1946 and 1964
differentation
experimental pricing
macro marketing
baby boomers
40. All the benefits the product will provide for consumers or business customers
core product
behavioral learning theories
portfolio management
internal reference price
41. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
segments
zone pricing
customer satisfaction
market test
42. Basic or necessary items that are available almost everywhere
stimulus generalization
staples
online auctions
metropolitan statistical area (msa)
43. A pricing tactic in which customers in different geographic zones pay different transportation rates
market segmentation
zone pricing
maturity stage
price
44. Combining two or more submarkets into one larger target market as a basis for one strategy
combined market approach
trade or functional discounts
frequent discounting
consumer satisfaction/dissatisfiaction
45. Charging a very high - premium price for a new product
f.o.b. delivered pricing
skimming price
cycle analysis
shopping product
46. A brand that a group of individual products or individual brands share
time-series analysis
diffusion
family brand
target market
47. The last consumers to adopt the innovation
laggards
knock-off
product market
social class
48. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
emergency product
reference group
social class
trial pricing
49. 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
perceived risk
seasonal analysis
profit objective
50. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
freight absorption pricing
universal functions of marketing
early adopters
frequent discounting