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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. When a percentage change in price results in a smaller percentage change in the quantity demanded
online auctions
impulse product
target costing
price inelastic
2. Goods that a business customer consumes in a relatively short time
nondurable goods
umbrella pricing
maintenance - repair - and operating products
switching costs
3. 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
f.o.b. delivered pricing
pure subsistence economy
early majority
licensing
4. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
internal reference price
processed material
raw materials
learning
5. The overall feelings or attitude a person has about a product after purchasing it
consumer satisfaction/dissatisfiaction
attitude
involvment
growth stage
6. 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
growth stage
trend analysis
f.o.b. origin pricing
evaluative criteria
7. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
price elastic
price bundling
product life cycle
list price
8. A pricing tactic in which customers in different geographic zones pay different transportation rates
generic marketing
dynamic pricing
test marketing
zone pricing
9. Those that actually affect the customers purchase of specific product or brand in a product market
continous innovation
convenience product
birthrate
determining dimensions
10. Combining two or more submarkets into one larger target market as a basis for one strategy
behavioral learning theories
conformity
impulse product
combined market approach
11. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
customer satisfaction
multiple target market approach
umbrella pricing
dynamically continuous innovation
12. Products created when firms transform raw materials from their original state
determining dimensions
expert forecasting survey
operant conditioning
processed material
13. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
attitude
breakthrough opportunities
brand extension
product adoption
14. The difference between the cost of the product and the selling price of the product
f.o.b. origin pricing
national or manufacturer brands
margin
knock-off
15. A means of characterizing consumers based on the different family stages they pass through as they grow older
disintermediation
component parts
family life cycle
trade or functional discounts
16. A fairly homogeneous group of customers to whom a company wishes to appeal
baby boomers
target market
universal functions of marketing
actual product
17. Pricing intended to establish a desired image or positioning to prospective customers
image enhancement objective
test marketing
target market
maturity stage
18. The values - beliefs - customs - and tastes that a group of people value
culture
baby boomers
new product failure
personality
19. A pricing strategy in which a firm sets prices that provide ultimate value to customers
family life cycle
f.o.b. origin pricing
value pricing everyday low-pricing
durable goods
20. A product people often buy on the spur of the moment
baby boomers
impulse product
margin
price maintenance
21. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
customer forecasting survey
price discrimination
stimulus generalization
non-cumulative quantity discounts
22. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
uniform delivered pricing
SWOT analysis
breakthrough opportunities
product life cycle
23. Tangible products we can see - touch - smell - hear - taste
goods
sex roles
competitive effect objective
store or private-label brands
24. Segmenting the market and picking one of the homogeneous segments as the firms target market
disposable income
switching costs
single target market approach
behavioral learning theories
25. A manager who is responsible for developing and implementing the marketing plan for a single brand
brand manager
cost of ownership
laggards
gen x
26. A price-setting method based on estimated of demand at different prices
stimulus generalization
pure subsistence economy
early majority
demand-based pricing
27. 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
goods
motivation
emergency product
28. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same
maturity stage
umbrella pricing
target costing
demand curve
29. A pricing strategy that draws on past experience of the marketer in setting appropriate prices
judgment
actual product
operating costs
subculture
30. 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
non-cumulative quantity discounts
reciprocity
unsought products
innovation
31. Brands that the manufacturer of the product owns
national or manufacturer brands
cognitive learning theory
disposable income
sustainability
32. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses
yield-management pricing
involvment
market test
family brand
33. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
regression analysis
yield-management pricing
strategic business unit sbu
core product
34. An aggregating process - clustering people with similar needs into a "market segment"
capacity management
freight absorption pricing
segmenting
margin
35. Manufactured goods or subassemblies of finished items that organizations need to complete their own product
target costing
component parts
discontinuous innovation
f.o.b. origin pricing
36. Costs involved in moving from one brand to another
information search
switching costs
expert forecasting survey
reference group
37. 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
single target market approach
regression analysis
price lining
Delphi technique
38. An organizational unit that focuses on some product markets and is treated as a separate profit center
impulse product
dynamic pricing
strategic business unit sbu
bait and switch
39. A firm's total product offering designed to satisfy a single need or desire of target customers
value pricing everyday low-pricing
judgment
status symbols
product line
40. The process of eliminating interaction between customers and service providers
macro marketing
disintermediation
gen x
store or private-label brands
41. Products we purchase when we're in dire need
emergency product
status symbols
conformity
frequent discounting
42. Pricing products to maximize sales or to attain a desired level of sales or market share
penetration strategy
gen y
demand-based pricing
sales or market share objective
43. The actual interaction between the customer and the service provider
raw materials
processed material
expert forecasting survey
service encounter
44. The collaboration of two or more firms in setting prices - usually to keep prices high
heuristics
demand-based pricing
bid riggin
price maintenance
45. A pricing tactic of charging reduced prices for larger quantities of product
micromarketing
laggards
quantity discounts
discetionary income
46. Discounts based only on the quantity purchased in individual orders
combiners
non-cumulative quantity discounts
discetionary income
price subsidies
47. 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
gen y
operating costs
bait and switch
internal reference price
48. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase
birthrate
empty nesters
shopping product
non-cumulative quantity discounts
49. The last consumers to adopt the innovation
judgment
dynamic pricing
maturity stage
laggards
50. The physical good or the delivered service that supplies the desired benefit
attitude
actual product
behavioral learning theories
knock-off