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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. A fairly homogeneous group of customers to whom a company wishes to appeal
list price
internal reference price
target market
cycle analysis
2. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
multicultural marketing
market segmentation
competitive advantage
variable pricing
3. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
SWOT analysis
augmented product
tipping point
goods
4. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
dynamic pricing
frequent discounting
birthrate
shopping product
5. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
lifestyle
disintermediation
conformity
micromarketing
6. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
information search
innovators
dynamic pricing
learning
7. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
nondurable goods
yield-management pricing
classical conditioning
image enhancement objective
8. The percentage change in unit sales that results from a percentage change in price
reference group
laggards
price elasticity
real income
9. A change in beliefs or actions as a reaction to real or imagined group pressure
product category manager
raw materials
discetionary income
conformity
10. An internal state that drives us to satisfy needs by activating goal-oriented behavior
seasonal analysis
motivation
product adoption
innovation
11. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
impulse product
baby boomers
single target market approach
uniform delivered pricing
12. Selling two or more goods or services as a single package for one price
brand
actual product
price bundling
goods
13. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
disintermediation
market test
trend analysis
segments
14. A pricing tactic in which customers in different geographic zones pay different transportation rates
judgment
dynamically continuous innovation
zone pricing
evaluative criteria
15. 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
market segmentation
price leadership (follower)
price
product market
16. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
opportunity cost
emergency product
economics of scale
product line
17. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
operating costs
captive pricing
senior citizens
subculture
18. A new product that does not reach expectations for success - failing to reach sales objectives set
empty nesters
new product failure
price discrimination
price elastic
19. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
family life cycle
market
price discrimination
goods
20. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
involvment
qualifying dimensions
staples
cycle analysis
21. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
customer forecasting survey
customer satisfaction objective
learning
cognitive dissonance
22. A pricing tactic in which the seller absorbs the total cost of transportation
operating costs
competitive advantage
goods
freight absorption pricing
23. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
umbrella pricing
penetration strategy
consumer behavior
captive pricing
24. Moral standards that guide marketing decisions and actions
multiple target market approach
multicultural marketing
marketing ethics
fixed costs
25. The set of alternative brands the consumer is considering for the decision process
breakthrough opportunities
continous innovation
staples
consideration set
26. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
sales force forecasting survey
birthrate
expert forecasting survey
price elastic
27. 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
cost-plus pricing
bid riggin
staples
maturity stage
28. Relevant to including a customer type in a product market
licensing
qualifying dimensions
image enhancement objective
multicultural marketing
29. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline
service encounter
tipping point
specialty products
product life cycle
30. Costs involved in moving from one brand to another
test marketing
switching costs
zone pricing
laggards
31. What is left of disposable income after paying for necessities
discetionary income
early adopters
brand
price leadership (follower)
32. E-commerce that allows shoppers to purchase products through online bidding
fixed costs
online auctions
inelastic demand
consumer satisfaction/dissatisfiaction
33. Refers to the generation born immediately following the baby boom - from 1965-1977
price-floor pricing
trend analysis
innovators
gen x
34. Tangible products we can see - touch - smell - hear - taste
price subsidies
goods
sex roles
specialty products
35. The strategy of selling products at unreasonably low prices to drive competitors out of business
opinion leader
predatory pricing
f.o.b. origin pricing
emergency product
36. A product that consumers perceive to be new and different form existing products
dynamic pricing
random factor analysis
margin
innovation
37. Sometimes called millenials - refer to those born from 1978-1994
classical conditioning
gen y
behavioral learning theories
cannibalization
38. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
value pricing everyday low-pricing
component parts
customer satisfaction
information search
39. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
sustainability
information search
product category manager
dynamic pricing
40. A situation in which an increase or a decrease in price will not significantly affect demand for the product
micromarketing
decline stage
inelastic demand
actual product
41. What is left after taxes
product life cycle
store or private-label brands
disposable income
real income
42. An integrated economic and social unit wit a large population nucleus
SWOT analysis
knock-off
metropolitan statistical area (msa)
product life cycle
43. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
involvment
brand manager
raw materials
heuristics
44. Goods that a business customer consumes in a relatively short time
prestige pricing
attitude
perceived risk
maintenance - repair - and operating products
45. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
goods
price leadership (follower)
product line
mass selling
46. The belief that use of a product has potentially negative consequences - either financial - physical or social
discontinuous innovation
perceived risk
price
benefit segmentation
47. 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
cognitive dissonance
market information function
diffusion
self-concept
48. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
maturity stage
product adoption
quantity discounts
lifestyle
49. 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
demand curve
maturity stage
customer satisfaction
senior citizens
50. 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
goods
emergency product
prestige pricing
licensing