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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 analysis attempting to attribute erratic sales variations to random - nonrecurrent events
freight absorption pricing
unsought products
brand manager
random factor analysis
2. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
learning
product category manager
nondurable goods
discetionary income
3. A pricing tactic of charging reduced prices for larger quantities of product
trial pricing
perceived risk
quantity discounts
processed material
4. An internal state that drives us to satisfy needs by activating goal-oriented behavior
customer forecasting survey
price elastic
motivation
discontinuous innovation
5. E-commerce that allows shoppers to purchase products through online bidding
birthrate
cost of ownership
regression analysis
online auctions
6. Sometimes called millenials - refer to those born from 1978-1994
store or private-label brands
gen y
discontinuous innovation
price elastic
7. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
product adoption
economics of scale
brand loyalty
attitude
8. An arrangement unique to business marketing in which two organizations agree to buy from each other
reciprocity
trend analysis
metropolitan statistical area (msa)
product adoption
9. A product that consumers perceive to be new and different form existing products
frequent discounting
cause-related marketing
operant conditioning
innovation
10. Income that is adjusted to take out the effects of inflation on purchasing power
consumer behavior
empty nesters
real income
component parts
11. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
predatory pricing
growth stage
trend analysis
motivation
12. Tangible products we can see - touch - smell - hear - taste
goods
market
product adoption
product life cycle
13. Those that actually affect the customers purchase of specific product or brand in a product market
status symbols
switching costs
determining dimensions
price lining
14. 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
expert forecasting survey
market segmentation
bartering
reciprocity
15. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
universal functions of marketing
profit objective
single target market approach
product market
16. An organizational unit that focuses on some product markets and is treated as a separate profit center
strategic business unit sbu
variable costs
internal reference price
convenience product
17. All the benefits the product will provide for consumers or business customers
attitude
loss-leader pricing
core product
sex roles
18. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
profit objective
brand
price discrimination
list price
19. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
opinion leader
hierarchy of needs
cycle analysis
senior citizens
20. The difference between the cost of the product and the selling price of the product
augmented product
macro marketing
early adopters
margin
21. A new product sold with the same brand name as a strong existing brand
innovators
decline stage
discetionary income
brand extension
22. The collaboration of two or more firms in setting prices - usually to keep prices high
switching costs
capacity management
price maintenance
price leadership (follower)
23. A means of characterizing consumers based on the different family stages they pass through as they grow older
social class
price inelastic
variable costs
family life cycle
24. People born between 1946 and 1964
online auctions
shopping product
portfolio management
baby boomers
25. The process by which the use of a product spreads throughout the population
price-floor pricing
value pricing everyday low-pricing
price inelastic
diffusion
26. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix
maturity stage
mass marketing
durable goods
tipping point
27. A change in an existing product that requires a moderate amount of learning or behavior change
culture
maintenance - repair - and operating products
judgment
dynamically continuous innovation
28. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer
product adoption
judgment
customer relationship management (crm)
f.o.b. delivered pricing
29. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
loss-leader pricing
disintermediation
consumer behavior
customer forecasting survey
30. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
shopping product
competitive advantage
hierarchy of needs
lifestyle
31. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
brand loyalty
heuristics
competitive advantage
product life cycle
32. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes
segmenting
self-concept
clickstream analysis
operating costs
33. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
subculture
birthrate
diffusion
social class
34. A strategy where prices are set significantly higher than competing brands
customer relationship management (crm)
prestige pricing
cannibalization
late majority
35. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
breakthrough opportunities
differentation
price elastic
cognitive learning theory
36. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
price leadership (follower)
classical conditioning
subculture
variable pricing
37. 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
empty nesters
f.o.b. delivered pricing
consumer-to-consumer e-commerce
tipping point
38. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
maturity stage
mass selling
convenience product
benefit segmentation
39. A strategy of frequently using sale prices to increase sales volume
test marketing
frequent discounting
classical conditioning
licensing
40. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
generic marketing
qualifying dimensions
cost-plus pricing
laggards
41. People over 65
consumer-to-consumer e-commerce
opportunity cost
senior citizens
price maintenance
42. Charging a very high - premium price for a new product
skimming price
qualifying dimensions
clustering techniques
portfolio management
43. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
product line
attitude
co-branding
social class
44. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
variable costs
economics of scale
loss-leader pricing
brand extension
45. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
discontinuous innovation
gen x
test marketing
maintenance - repair - and operating products
46. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition
brand
margin
dynamic pricing
list price
47. Costs of production that do not change with the number of units produced
fixed costs
consideration set
product line
dynamically continuous innovation
48. A social process that directs an economy
trial pricing
macro marketing
behavioral learning theories
combiners
49. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri
target costing
consumer behavior
introduction
laggards
50. A brand that a group of individual products or individual brands share
licensing
family brand
price bundling
conformity