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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. 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
maintenance - repair - and operating products
goods
Delphi technique
store or private-label brands
2. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale
augmented product
expert forecasting survey
emergency product
diffusion
3. A pricing tactic in which customers in different geographic zones pay different transportation rates
breakthrough opportunities
zone pricing
generic marketing
maintenance - repair - and operating products
4. The process whereby a consumer searches for appropriate information needed to make a reasonable decision
shopping product
yield-management pricing
brand equity
information search
5. A manager who is responsible for developing and implementing the marketing plan for a single brand
price-floor pricing
hierarchy of needs
growth stage
brand manager
6. A practice of charging different prices to a different customers to manage capacity while maximizing revenues
yield-management pricing
classical conditioning
generic marketing
prestige pricing
7. A mental rule of thumb that leads to a speedy decision by simplifying the process
segments
Delphi technique
decline stage
heuristics
8. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
multiple target market approach
multicultural marketing
product life cycle
introduction
9. An arrangement unique to business marketing in which two organizations agree to buy from each other
social class
reciprocity
motivation
impulse product
10. A new product that does not reach expectations for success - failing to reach sales objectives set
cost of ownership
new product failure
profit objective
market manager
11. An internal state that drives us to satisfy needs by activating goal-oriented behavior
multicultural marketing
consumer satisfaction/dissatisfiaction
motivation
operant conditioning
12. To try to find similar patterns within sets of data
universal functions of marketing
metropolitan statistical area (msa)
clustering techniques
trade or functional discounts
13. A product that consumers perceive to be new and different form existing products
customer relationship management (crm)
price maintenance
innovation
internal reference price
14. An integrated economic and social unit wit a large population nucleus
metropolitan statistical area (msa)
time-series analysis
combined market approach
new product failure
15. A new product that copies with slight modification the design of an original product
baby boomers
early majority
product category manager
knock-off
16. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs
licensing
market
perceived risk
demand curve
17. Pricing that is intended to maximize customer satisfaction and retention
customer satisfaction objective
augmented product
learning
early majority
18. 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
consumer satisfaction/dissatisfiaction
classical conditioning
discetionary income
tipping point
19. When each family unit produces everything it consumes
strategic business unit sbu
test marketing
determining dimensions
pure subsistence economy
20. Selling two or more goods or services as a single package for one price
cycle analysis
price bundling
market information function
early adopters
21. A pricing strategy that considers the lifetime cost of using the product
cognitive dissonance
cycle analysis
f.o.b. origin pricing
cost of ownership
22. Number of babies born per 1000 people fluctuated greatly in last 65 years
sales force forecasting survey
birthrate
market information function
tipping point
23. A situation in which an increase or a decrease in price will not significantly affect demand for the product
economics of scale
determining dimensions
shopping product
inelastic demand
24. The dimensions that consumers use to compare completing product alternatives
lifestyle
evaluative criteria
birthrate
market segment
25. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income
margin
social class
regression analysis
sales force forecasting survey
26. Charging a very high - premium price for a new product
licensing
skimming price
multicultural marketing
diffusion
27. The division of a market according to benefits that consumers want from the product
sex roles
fixed costs
benefit segmentation
impulse product
28. 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
price-floor pricing
knock-off
segments
variable pricing
29. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
equipment
raw materials
operating costs
venture teams
30. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item
captive pricing
consumer-to-consumer e-commerce
differentation
durable goods
31. Costs involved in using a product
conformity
operating costs
processed material
fast-moving consumer goods
32. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
generic marketing
universal functions of marketing
goods
switching costs
33. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
target costing
mass marketing
brand
sales forecast
34. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
f.o.b. origin pricing
family brand
non-cumulative quantity discounts
consumer behavior
35. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
maturity stage
market test
cycle analysis
price leadership (follower)
36. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
reference group
core product
executive judgement
innovation
37. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
cycle analysis
SWOT analysis
market
demand-based pricing
38. A firm's total product offering designed to satisfy a single need or desire of target customers
macro marketing
product line
growth stage
classical conditioning
39. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
component parts
competitive effect objective
convenience product
predatory pricing
40. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
venture teams
breakthrough opportunities
empty nesters
list price
41. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment
cognitive learning theory
disintermediation
operant conditioning
segments
42. Extent to which a firm fulfills a customers needs - desires - and expectations
customer satisfaction
price bundling
venture teams
status symbols
43. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
sales or market share objective
competitive advantage
metropolitan statistical area (msa)
price lining
44. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
core product
clickstream analysis
disposable income
product category manager
45. Tangible products we can see - touch - smell - hear - taste
cannibalization
cost-plus pricing
heuristics
goods
46. 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
f.o.b. origin pricing
laggards
disposable income
47. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
operant conditioning
market
specialty products
subculture
48. The set of alternative brands the consumer is considering for the decision process
differentation
consideration set
profit objective
portfolio management
49. The collaboration of two or more firms in setting prices - usually to keep prices high
trend analysis
brand extension
clustering techniques
price maintenance
50. Those that actually affect the customers purchase of specific product or brand in a product market
cumulative quantity discounts
determining dimensions
frequent discounting
equipment