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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. Pricing products to maximize sales or to attain a desired level of sales or market share
sales or market share objective
product line
core product
product category manager
2. The loss of sales of an existing product when a new item in a product line or product family is introduced
cannibalization
perception
bartering
market
3. A means of characterizing consumers based on the different family stages they pass through as they grow older
personality
operating costs
family life cycle
inelastic demand
4. Charging a very high - premium price for a new product
skimming price
disintermediation
SWOT analysis
bid riggin
5. People born between 1946 and 1964
capacity management
customer forecasting survey
baby boomers
combiners
6. 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
late majority
price leadership (follower)
information search
fixed costs
7. A strategy where prices are set significantly higher than competing brands
trial pricing
seasonal analysis
value pricing everyday low-pricing
prestige pricing
8. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production
involvment
component parts
unsought products
price-floor pricing
9. Basic or necessary items that are available almost everywhere
motivation
trademark
combiners
staples
10. Discounts based on the total quantity bought within a specified time period
innovators
lifestyle
cumulative quantity discounts
market
11. A manager who is responsible for developing and implementing the marketing plan for a single brand
seasonal analysis
macro marketing
bartering
brand manager
12. The value that customers give up - or exchange - to obtain a desired product
f.o.b. delivered pricing
price elasticity
price
consumer behavior
13. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer
f.o.b. origin pricing
cannibalization
empty nesters
tipping point
14. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
specialty products
early adopters
brand extension
product adoption
15. The price the end customer is expected to pay as determined by the manufacturer
trademark
motivation
price
list price
16. Aim at one or more homogeneous segments and try to develop different marketing mix for each
cognitive learning theory
segments
price leadership (follower)
product adoption
17. 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
switching costs
cognitive dissonance
national or manufacturer brands
cost-plus pricing
18. The values - beliefs - customs - and tastes that a group of people value
online auctions
bid riggin
price lining
culture
19. 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
brand extension
cost of ownership
licensing
seasonal analysis
20. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
experimental pricing
sex roles
subculture
prestige pricing
21. 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
store or private-label brands
Delphi technique
bid riggin
tipping point
22. 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
yield-management pricing
market segmentation
breakthrough opportunities
national or manufacturer brands
23. Discounts based only on the quantity purchased in individual orders
conformity
sustainability
target marketing
non-cumulative quantity discounts
24. The physical good or the delivered service that supplies the desired benefit
penetration strategy
actual product
information search
market segment
25. Number of babies born per 1000 people fluctuated greatly in last 65 years
birthrate
market segment
laggards
competitive advantage
26. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
stimulus generalization
market information function
decline stage
lifestyle
27. Products that consumers purchase to signal membership in a desirable social class
service encounter
Delphi technique
status symbols
perceived risk
28. Pricing that is intended to have an effect on the marketing efforts of the competition
cannibalization
price
growth stage
competitive effect objective
29. The set of alternative brands the consumer is considering for the decision process
sex roles
consideration set
augmented product
product category manager
30. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
consumer satisfaction/dissatisfiaction
market test
trial pricing
sales or market share objective
31. A new product that copies with slight modification the design of an original product
knock-off
customer satisfaction
SWOT analysis
price inelastic
32. The process by which organization adjust their offering in an attempt to match demand
economics of scale
capacity management
inelastic demand
brand loyalty
33. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention
unsought products
captive pricing
stimulus generalization
opinion leader
34. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
sex roles
price elasticity
convenience product
cycle analysis
35. 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
staples
brand
cause-related marketing
trend analysis
36. The process of eliminating interaction between customers and service providers
staples
micromarketing
continous innovation
disintermediation
37. Costs involved in using a product
breakthrough opportunities
dynamically continuous innovation
price elastic
operating costs
38. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
personality
bartering
yield-management pricing
trend analysis
39. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue
staples
heuristics
Delphi technique
price lining
40. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
early majority
competitive effect objective
attitude
store or private-label brands
41. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions
breakthrough opportunities
penetration strategy
strategic business unit sbu
trade or functional discounts
42. Those who adopt an innovation early in the diffusion process but later than the innovators
price bundling
variable costs
early adopters
pure subsistence economy
43. A marketing mix is tailored to fit some specific target customers
f.o.b. origin pricing
bait and switch
early adopters
target marketing
44. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
multicultural marketing
behavioral learning theories
opinion leader
uniform delivered pricing
45. 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
hierarchy of needs
maturity stage
time-series analysis
licensing
46. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line
switching costs
f.o.b. origin pricing
price leadership (follower)
brand extension
47. The process by which people select - organize - and interpret information form the outside world
status symbols
perception
trademark
benefit segmentation
48. A pricing strategy in which a firm sets prices that provide ultimate value to customers
trial pricing
loss-leader pricing
value pricing everyday low-pricing
price bundling
49. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs
augmented product
evaluative criteria
diffusion
generic marketing
50. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
learning
test marketing
introduction
discontinuous innovation