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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. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
variable pricing
behavioral learning theories
product category manager
metropolitan statistical area (msa)
2. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
product life cycle
dynamic pricing
lifestyle
customer satisfaction objective
3. A change in an existing product that requires a moderate amount of learning or behavior change
image enhancement objective
time-series analysis
dynamically continuous innovation
clustering techniques
4. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
attitude
product adoption
augmented product
brand manager
5. The marketing mix is distinct from and better than what is available from a competitor
market test
differentation
staples
price subsidies
6. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
marketing ethics
uniform delivered pricing
value pricing everyday low-pricing
dynamically continuous innovation
7. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
market manager
consumer satisfaction/dissatisfiaction
brand manager
universal functions of marketing
8. A new product sold with the same brand name as a strong existing brand
brand extension
micromarketing
clustering techniques
stimulus generalization
9. The set of alternative brands the consumer is considering for the decision process
consideration set
real income
learning
senior citizens
10. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
experimental pricing
random factor analysis
cycle analysis
operating costs
11. People over 65
senior citizens
economics of scale
random factor analysis
image enhancement objective
12. The process of eliminating interaction between customers and service providers
disintermediation
combined market approach
target market
market segment
13. Costs involved in moving from one brand to another
price
durable goods
brand extension
switching costs
14. Moral standards that guide marketing decisions and actions
SWOT analysis
hierarchy of needs
prestige pricing
marketing ethics
15. A pricing strategy in which a firm sets prices that provide ultimate value to customers
loss-leader pricing
price inelastic
value pricing everyday low-pricing
consumer behavior
16. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire
variable pricing
frequent discounting
specialty products
trademark
17. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
non-cumulative quantity discounts
component parts
qualifying dimensions
price leadership (follower)
18. The practice of setting a limited number of different specific prices - called price points - for items in a product line
multicultural marketing
customer satisfaction objective
price lining
market test
19. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
culture
cycle analysis
determining dimensions
price discrimination
20. The regret or remorse buyers may feel after making a purchase
consumer behavior
price subsidies
cognitive dissonance
subculture
21. Income that is adjusted to take out the effects of inflation on purchasing power
captive pricing
cost-plus pricing
goods
real income
22. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
empty nesters
convenience product
unsought products
judgment
23. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
equipment
test marketing
dynamically continuous innovation
family brand
24. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item
time-series analysis
price inelastic
price
bait and switch
25. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
skimming price
early majority
sales force forecasting survey
price leadership (follower)
26. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
shopping product
target marketing
profit objective
family life cycle
27. A new product that does not reach expectations for success - failing to reach sales objectives set
trial pricing
yield-management pricing
self-concept
new product failure
28. A marketing mix is tailored to fit some specific target customers
metropolitan statistical area (msa)
target marketing
reciprocity
variable costs
29. A change in beliefs or actions as a reaction to real or imagined group pressure
trend analysis
convenience product
conformity
early adopters
30. 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
quantity discounts
brand loyalty
continous innovation
31. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
dynamically continuous innovation
growth stage
qualifying dimensions
list price
32. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria
co-branding
portfolio management
attitude
umbrella pricing
33. An aggregating process - clustering people with similar needs into a "market segment"
early adopters
segmenting
seasonal analysis
product line
34. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
skimming price
diffusion
variable costs
time-series analysis
35. 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
disintermediation
involvment
segments
late majority
36. The strategy of selling products at unreasonably low prices to drive competitors out of business
cumulative quantity discounts
price leadership (follower)
price subsidies
predatory pricing
37. The last consumers to adopt the innovation
laggards
early majority
real income
combined market approach
38. 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
micromarketing
disintermediation
tipping point
price
39. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures
multicultural marketing
culture
pure subsistence economy
market segment
40. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
cannibalization
multiple target market approach
benefit segmentation
non-cumulative quantity discounts
41. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.
metropolitan statistical area (msa)
combined market approach
nondurable goods
portfolio management
42. Tohose whose adoption to a new product signals a general acceptance of the innovation
early majority
skimming price
co-branding
heuristics
43. The loss of sales of an existing product when a new item in a product line or product family is introduced
laggards
diffusion
cannibalization
trade or functional discounts
44. An agreement between two brands to work together in marketing new or existing products
variable pricing
cognitive learning theory
switching costs
co-branding
45. A means of measuring a website's success by tracking customers' movement around the company website
cognitive dissonance
clickstream analysis
pure subsistence economy
cost-plus pricing
46. 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
prestige pricing
classical conditioning
multiple target market approach
actual product
47. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
breakthrough opportunities
status symbols
combiners
conformity
48. Sales forecasting based on the intuition of one or more executives
consumer behavior
profit objective
dynamic pricing
executive judgement
49. A strategy of frequently using sale prices to increase sales volume
cumulative quantity discounts
frequent discounting
family brand
brand equity
50. The overall feelings or attitude a person has about a product after purchasing it
combined market approach
skimming price
consumer satisfaction/dissatisfiaction
combiners