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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. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
consumer-to-consumer e-commerce
market segmentation
random factor analysis
clustering techniques
2. The psychological characteristics that consistently influence the way a person responds to situations in the environment
innovation
staples
personality
strategic business unit sbu
3. Products that consumers purchase to signal membership in a desirable social class
status symbols
brand equity
culture
internal reference price
4. Brands that are owned and sold by a specific - retailer or distributor
qualifying dimensions
store or private-label brands
cost of ownership
raw materials
5. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
information search
variable costs
uniform delivered pricing
Delphi technique
6. A situation in which an increase or a decrease in price will not significantly affect demand for the product
differentation
inelastic demand
dynamic pricing
f.o.b. origin pricing
7. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
growth stage
learning
personality
economics of scale
8. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
list price
introduction
price lining
early adopters
9. Tohose whose adoption to a new product signals a general acceptance of the innovation
early majority
nondurable goods
SWOT analysis
specialty products
10. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
trend analysis
fixed costs
SWOT analysis
customer forecasting survey
11. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
maturity stage
cost of ownership
product line
service encounter
12. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
variable pricing
behavioral learning theories
social class
prestige pricing
13. The practice of exchanging a good or service for another good or service of like value
variable pricing
bartering
dynamic pricing
cost-plus pricing
14. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
reference group
dynamic pricing
penetration strategy
customer satisfaction objective
15. Pricing products with a focus on a target level of profit growth or a desired net profit margin
profit objective
f.o.b. origin pricing
strategic business unit sbu
senior citizens
16. An aggregating process - clustering people with similar needs into a "market segment"
margin
segmenting
internal reference price
maturity stage
17. Products created when firms transform raw materials from their original state
processed material
loss-leader pricing
strategic business unit sbu
fast-moving consumer goods
18. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
operant conditioning
maintenance - repair - and operating products
test marketing
raw materials
19. The percentage change in unit sales that results from a percentage change in price
processed material
reference group
price elasticity
component parts
20. Selling two or more goods or services as a single package for one price
trademark
price
price bundling
gen x
21. The marketing mix is distinct from and better than what is available from a competitor
disintermediation
licensing
market segment
differentation
22. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
classical conditioning
trade or functional discounts
personality
gen y
23. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
profit objective
product life cycle
customer forecasting survey
consumer-to-consumer e-commerce
24. The physical good or the delivered service that supplies the desired benefit
brand
penetration strategy
discetionary income
actual product
25. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs
personality
cumulative quantity discounts
product market
loss-leader pricing
26. Refers to the generation born immediately following the baby boom - from 1965-1977
gen x
cost of ownership
trademark
cause-related marketing
27. A totally new product that creates major changes in the way we live
f.o.b. delivered pricing
expert forecasting survey
value pricing everyday low-pricing
discontinuous innovation
28. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
cost of ownership
emergency product
durable goods
trend analysis
29. 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
cycle analysis
laggards
target costing
price elasticity
30. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses
time-series analysis
fast-moving consumer goods
diffusion
durable goods
31. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
operant conditioning
universal functions of marketing
laggards
component parts
32. Discounts based only on the quantity purchased in individual orders
target costing
skimming price
non-cumulative quantity discounts
licensing
33. 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
target marketing
opinion leader
perception
co-branding
34. 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
customer satisfaction objective
target market
uniform delivered pricing
35. The belief that use of a product has potentially negative consequences - either financial - physical or social
early adopters
list price
perceived risk
breakthrough opportunities
36. Communicating with large numbers of customers at the same time
mass selling
opportunity cost
fixed costs
customer forecasting survey
37. 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
cannibalization
venture teams
combined market approach
trademark
38. Discounts based on the total quantity bought within a specified time period
cumulative quantity discounts
profit objective
culture
product line
39. What is left of disposable income after paying for necessities
discetionary income
reciprocity
penetration strategy
convenience product
40. A change in beliefs or actions as a reaction to real or imagined group pressure
conformity
price-floor pricing
inelastic demand
price inelastic
41. Aim at one or more homogeneous segments and try to develop different marketing mix for each
benefit segmentation
segments
early majority
seasonal analysis
42. 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
diffusion
classical conditioning
price subsidies
dynamic pricing
43. 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
maturity stage
consumer satisfaction/dissatisfiaction
internal reference price
44. The final stage in the product life cycle - in which sales decrease as customer needs change
equipment
decline stage
product life cycle
sales force forecasting survey
45. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
component parts
consideration set
cognitive dissonance
empty nesters
46. Extent to which a firm fulfills a customers needs - desires - and expectations
customer satisfaction
customer satisfaction objective
market
strategic business unit sbu
47. A pricing strategy in which a firm sets prices that provide ultimate value to customers
loss-leader pricing
value pricing everyday low-pricing
internal reference price
brand loyalty
48. Segmenting the market and picking one of the homogeneous segments as the firms target market
consumer satisfaction/dissatisfiaction
single target market approach
market segmentation
margin
49. Moral standards that guide marketing decisions and actions
quantity discounts
shopping product
marketing ethics
actual product
50. Pricing that is intended to have an effect on the marketing efforts of the competition
Delphi technique
frequent discounting
competitive effect objective
co-branding