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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 approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets
competitive effect objective
micromarketing
growth stage
seasonal analysis
2. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
price discrimination
sales forecast
market information function
real income
3. The value that customers give up - or exchange - to obtain a desired product
price
value pricing everyday low-pricing
co-branding
core product
4. 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
raw materials
SWOT analysis
market segmentation
discetionary income
5. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
brand extension
profit objective
expert forecasting survey
cycle analysis
6. A homogeneous group of customers who will respond to a marketing mix in a similiar way
laggards
clustering techniques
personality
market segment
7. When a percentage change in price results in a smaller percentage change in the quantity demanded
experimental pricing
opinion leader
price inelastic
online auctions
8. The process by which organization adjust their offering in an attempt to match demand
attitude
capacity management
hierarchy of needs
predatory pricing
9. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
strategic business unit sbu
generic marketing
executive judgement
consumer-to-consumer e-commerce
10. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
consumer-to-consumer e-commerce
late majority
breakthrough opportunities
demand-based pricing
11. A change in beliefs or actions as a reaction to real or imagined group pressure
sales forecast
conformity
baby boomers
real income
12. An organizational unit that focuses on some product markets and is treated as a separate profit center
hierarchy of needs
perception
strategic business unit sbu
competitive effect objective
13. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
non-cumulative quantity discounts
price bundling
variable costs
component parts
14. A strategy of frequently using sale prices to increase sales volume
consumer satisfaction/dissatisfiaction
consumer-to-consumer e-commerce
trial pricing
frequent discounting
15. A change in an existing product that requires a moderate amount of learning or behavior change
dynamically continuous innovation
target marketing
augmented product
seasonal analysis
16. The process by which people select - organize - and interpret information form the outside world
image enhancement objective
perception
learning
price elastic
17. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
Delphi technique
actual product
hierarchy of needs
product category manager
18. Pricing a new product low for a limited period of time to lower the risk for a customer
demand-based pricing
zone pricing
combiners
trial pricing
19. Tangible products we can see - touch - smell - hear - taste
predatory pricing
co-branding
goods
brand manager
20. Aim at one or more homogeneous segments and try to develop different marketing mix for each
segments
seasonal analysis
price elasticity
time-series analysis
21. A pricing tactic in which customers in different geographic zones pay different transportation rates
zone pricing
cycle analysis
product category manager
dynamic pricing
22. The seller fine tunes the marketing effort with info from a detailed customer database
innovators
customer satisfaction
differentation
customer relationship management (crm)
23. 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
trademark
lifestyle
quantity discounts
brand
24. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
customer forecasting survey
attitude
decline stage
learning
25. The set of alternative brands the consumer is considering for the decision process
cognitive learning theory
cause-related marketing
margin
consideration set
26. A new product that does not reach expectations for success - failing to reach sales objectives set
new product failure
customer forecasting survey
gen y
growth stage
27. The loss of sales of an existing product when a new item in a product line or product family is introduced
unsought products
cannibalization
empty nesters
birthrate
28. The dimensions that consumers use to compare completing product alternatives
image enhancement objective
shopping product
evaluative criteria
quantity discounts
29. A pricing strategy that considers the lifetime cost of using the product
senior citizens
online auctions
cost of ownership
fast-moving consumer goods
30. Group of people within an organization who focus exclusively on the development of a new product
baby boomers
brand
store or private-label brands
venture teams
31. A pricing strategy in which a firm sets prices that provide ultimate value to customers
value pricing everyday low-pricing
f.o.b. origin pricing
trademark
yield-management pricing
32. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
discetionary income
information search
dynamic pricing
self-concept
33. 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
discetionary income
clickstream analysis
late majority
price bundling
34. A fairly homogeneous group of customers to whom a company wishes to appeal
diffusion
target market
sustainability
actual product
35. All the benefits the product will provide for consumers or business customers
core product
determining dimensions
product category manager
price-floor pricing
36. Pricing that is intended to maximize customer satisfaction and retention
price discrimination
empty nesters
customer satisfaction objective
random factor analysis
37. A price-setting method based on estimated of demand at different prices
market segmentation
price-floor pricing
brand
demand-based pricing
38. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
maturity stage
executive judgement
status symbols
predatory pricing
39. An aggregating process - clustering people with similar needs into a "market segment"
co-branding
market segment
segmenting
price-floor pricing
40. Pricing that is intended to have an effect on the marketing efforts of the competition
competitive effect objective
macro marketing
subculture
metropolitan statistical area (msa)
41. A situation in which an increase or a decrease in price will not significantly affect demand for the product
cost of ownership
brand equity
impulse product
inelastic demand
42. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
yield-management pricing
introduction
economics of scale
metropolitan statistical area (msa)
43. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
mass marketing
customer satisfaction
market test
expert forecasting survey
44. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
growth stage
cannibalization
goods
laggards
45. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
innovation
consumer-to-consumer e-commerce
early majority
product market
46. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
mass marketing
diffusion
segmenting
real income
47. A modification of an existing product that sets one brand apart from its competitors
market information function
family brand
switching costs
continous innovation
48. The price the end customer is expected to pay as determined by the manufacturer
list price
price
specialty products
sales forecast
49. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
information search
durable goods
multicultural marketing
market manager
50. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income
social class
price discrimination
decline stage
qualifying dimensions