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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. The collaboration of two or more firms in setting prices - usually to keep prices high
price maintenance
cycle analysis
f.o.b. origin pricing
market segmentation
2. A mental rule of thumb that leads to a speedy decision by simplifying the process
target market
durable goods
variable pricing
heuristics
3. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm
decline stage
multiple target market approach
reciprocity
expert forecasting survey
4. When a percentage change in price results in a larger percentage change in the quantity demanded
price elastic
operant conditioning
target marketing
cognitive dissonance
5. The process of eliminating interaction between customers and service providers
innovation
disintermediation
introduction
conformity
6. The last consumers to adopt the innovation
laggards
continous innovation
price inelastic
cannibalization
7. People whose children are grown and who are now able to spend their money in other ways
price leadership (follower)
trademark
baby boomers
empty nesters
8. Aim at one or more homogeneous segments and try to develop different marketing mix for each
perception
segments
disintermediation
discetionary income
9. A homogeneous group of customers who will respond to a marketing mix in a similiar way
seasonal analysis
sales forecast
market segment
prestige pricing
10. Moral standards that guide marketing decisions and actions
learning
impulse product
generic marketing
marketing ethics
11. 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
quantity discounts
price subsidies
zone pricing
perception
12. The dimensions that consumers use to compare completing product alternatives
Delphi technique
empty nesters
evaluative criteria
real income
13. Costs of production that do not change with the number of units produced
fixed costs
loss-leader pricing
brand equity
price lining
14. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences
bartering
multicultural marketing
lifestyle
unsought products
15. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
cost of ownership
hierarchy of needs
dynamic pricing
trade or functional discounts
16. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
sustainability
discetionary income
freight absorption pricing
core product
17. The value of a brand to an organization
brand equity
uniform delivered pricing
opinion leader
customer relationship management (crm)
18. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter
real income
cumulative quantity discounts
test marketing
customer forecasting survey
19. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
cognitive learning theory
bartering
mass marketing
raw materials
20. What is left after taxes
price subsidies
margin
disposable income
price
21. The pricing strategy of setting prices below cost to attract customers into a store
time-series analysis
personality
loss-leader pricing
non-cumulative quantity discounts
22. A strategy of experimenting with prices until the price that generates the highest profitability is found
price
experimental pricing
co-branding
perceived risk
23. Those who adopt an innovation early in the diffusion process but later than the innovators
attitude
shopping product
early adopters
perception
24. Discounts based only on the quantity purchased in individual orders
micromarketing
information search
portfolio management
non-cumulative quantity discounts
25. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
marketing ethics
random factor analysis
economics of scale
durable goods
26. Products that exhibit consistently high velocity sales in the consumer marketplace
portfolio management
fast-moving consumer goods
laggards
competitive advantage
27. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price
laggards
processed material
internal reference price
brand equity
28. An arrangement unique to business marketing in which two organizations agree to buy from each other
reciprocity
operating costs
goods
value pricing everyday low-pricing
29. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
yield-management pricing
continous innovation
brand extension
consumer-to-consumer e-commerce
30. An aggregating process - clustering people with similar needs into a "market segment"
captive pricing
sales or market share objective
segmenting
clickstream analysis
31. A price-setting method based on estimated of demand at different prices
loss-leader pricing
demand-based pricing
co-branding
product market
32. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down
demand-based pricing
reference group
licensing
economics of scale
33. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
birthrate
consumer-to-consumer e-commerce
product category manager
venture teams
34. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
self-concept
fixed costs
dynamically continuous innovation
bid riggin
35. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
price
core product
product category manager
trade or functional discounts
36. Products created when firms transform raw materials from their original state
competitive advantage
processed material
fixed costs
breakthrough opportunities
37. Income that is adjusted to take out the effects of inflation on purchasing power
internal reference price
price-floor pricing
real income
social class
38. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
price leadership (follower)
SWOT analysis
national or manufacturer brands
cost of ownership
39. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women
sex roles
metropolitan statistical area (msa)
growth stage
demand curve
40. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
cycle analysis
motivation
f.o.b. delivered pricing
brand loyalty
41. Pricing a new product low for a limited period of time to lower the risk for a customer
trial pricing
price subsidies
variable pricing
internal reference price
42. Charging a very high - premium price for a new product
target costing
demand curve
gen y
skimming price
43. What is left of disposable income after paying for necessities
actual product
customer satisfaction objective
discetionary income
variable costs
44. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
breakthrough opportunities
disposable income
zone pricing
trend analysis
45. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
sales forecast
determining dimensions
f.o.b. origin pricing
opportunity cost
46. A pricing tactic in which the seller absorbs the total cost of transportation
product adoption
family life cycle
trademark
freight absorption pricing
47. Products that consumers purchase to signal membership in a desirable social class
discontinuous innovation
customer satisfaction
status symbols
captive pricing
48. The physical good or the delivered service that supplies the desired benefit
hierarchy of needs
metropolitan statistical area (msa)
actual product
continous innovation
49. 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)
combiners
SWOT analysis
umbrella pricing
50. Pricing that is intended to have an effect on the marketing efforts of the competition
behavioral learning theories
competitive effect objective
perception
disintermediation