SUBJECTS
|
BROWSE
|
CAREER CENTER
|
POPULAR
|
JOIN
|
LOGIN
Business Skills
|
Soft Skills
|
Basic Literacy
|
Certifications
About
|
Help
|
Privacy
|
Terms
|
Email
Search
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 method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit
target market
frequent discounting
real income
cost-plus pricing
2. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
early adopters
specialty products
cycle analysis
maturity stage
3. 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
profit objective
family life cycle
frequent discounting
Delphi technique
4. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
dynamic pricing
specialty products
captive pricing
lifestyle
5. A fairly homogeneous group of customers to whom a company wishes to appeal
loss-leader pricing
time-series analysis
target market
customer forecasting survey
6. The pricing strategy of setting prices below cost to attract customers into a store
loss-leader pricing
brand
universal functions of marketing
conformity
7. A flexible pricing strategy that reflects what individual customers are willing to pay
segments
variable costs
variable pricing
value pricing everyday low-pricing
8. A means of measuring a website's success by tracking customers' movement around the company website
disposable income
clickstream analysis
reciprocity
demand-based pricing
9. A means of characterizing consumers based on the different family stages they pass through as they grow older
involvment
portfolio management
family life cycle
market information function
10. Products that consumers purchase to signal membership in a desirable social class
market manager
metropolitan statistical area (msa)
status symbols
early adopters
11. Goods that a business customer consumes in a relatively short time
maintenance - repair - and operating products
knock-off
trade or functional discounts
early adopters
12. Selling two or more goods or services as a single package for one price
raw materials
motivation
classical conditioning
price bundling
13. The process of eliminating interaction between customers and service providers
disintermediation
price maintenance
consumer-to-consumer e-commerce
price discrimination
14. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
reference group
executive judgement
equipment
attitude
15. Brands that are owned and sold by a specific - retailer or distributor
store or private-label brands
unsought products
expert forecasting survey
multicultural marketing
16. Tohose whose adoption to a new product signals a general acceptance of the innovation
market segmentation
early majority
raw materials
augmented product
17. A totally new product that creates major changes in the way we live
bait and switch
discontinuous innovation
qualifying dimensions
zone pricing
18. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top
determining dimensions
hierarchy of needs
trial pricing
Delphi technique
19. Number of babies born per 1000 people fluctuated greatly in last 65 years
social class
cause-related marketing
inelastic demand
birthrate
20. 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
brand equity
market segmentation
experimental pricing
margin
21. A modification of an existing product that sets one brand apart from its competitors
cognitive learning theory
market test
continous innovation
mass marketing
22. Segmenting the market and picking one of the homogeneous segments as the firms target market
single target market approach
innovation
conformity
store or private-label brands
23. A change in an existing product that requires a moderate amount of learning or behavior change
f.o.b. origin pricing
predatory pricing
dynamically continuous innovation
impulse product
24. A relatively permanent change in behavior caused by acquired information or experience
prestige pricing
learning
disposable income
baby boomers
25. The process by which a consumer or business customer begins to buy and use a new good - service - or idea
product adoption
f.o.b. origin pricing
fixed costs
dynamic pricing
26. An internal state that drives us to satisfy needs by activating goal-oriented behavior
universal functions of marketing
capacity management
early majority
motivation
27. A strategy of ducking under a competitor's price by a fixed percentage
umbrella pricing
consideration set
gen x
core product
28. Learning that occurs as the result of rewards of punishments
national or manufacturer brands
combined market approach
operant conditioning
market manager
29. Moral standards that guide marketing decisions and actions
marketing ethics
zone pricing
reciprocity
market segment
30. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
durable goods
growth stage
venture teams
strategic business unit sbu
31. What is left after taxes
qualifying dimensions
motivation
inelastic demand
disposable income
32. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location
gen x
uniform delivered pricing
family life cycle
sales forecast
33. An agreement between two brands to work together in marketing new or existing products
reciprocity
combined market approach
co-branding
stimulus generalization
34. A change in beliefs or actions as a reaction to real or imagined group pressure
family brand
conformity
zone pricing
customer relationship management (crm)
35. When a percentage change in price results in a smaller percentage change in the quantity demanded
clustering techniques
price inelastic
trend analysis
qualifying dimensions
36. An aggregating process - clustering people with similar needs into a "market segment"
segmenting
convenience product
cause-related marketing
captive pricing
37. Pricing that is intended to have an effect on the marketing efforts of the competition
conformity
customer forecasting survey
competitive effect objective
mass selling
38. A survey of customers regarding the types and quantities of products they intend to buy during a specific period
attitude
judgment
customer forecasting survey
brand loyalty
39. The process by which people select - organize - and interpret information form the outside world
bait and switch
augmented product
perception
price inelastic
40. 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
judgment
freight absorption pricing
internal reference price
tipping point
41. A price-setting method based on estimated of demand at different prices
demand-based pricing
price elastic
variable pricing
qualifying dimensions
42. A product people often buy on the spur of the moment
impulse product
discetionary income
skimming price
target market
43. Pricing products to maximize sales or to attain a desired level of sales or market share
core product
sales or market share objective
continous innovation
real income
44. 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
value pricing everyday low-pricing
opinion leader
pure subsistence economy
market test
45. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort
new product failure
disposable income
convenience product
tipping point
46. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
executive judgement
trend analysis
stimulus generalization
price lining
47. The value of a brand to an organization
brand equity
segments
status symbols
continous innovation
48. The value that customers give up - or exchange - to obtain a desired product
core product
price
determining dimensions
brand equity
49. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
strategic business unit sbu
sales forecast
status symbols
empty nesters
50. People over 65
non-cumulative quantity discounts
disposable income
uniform delivered pricing
senior citizens