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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 social process that directs an economy
macro marketing
profit objective
metropolitan statistical area (msa)
cycle analysis
2. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer
classical conditioning
consumer-to-consumer e-commerce
emergency product
price elastic
3. The strategy of selling products at unreasonably low prices to drive competitors out of business
target market
price discrimination
family life cycle
predatory pricing
4. 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
opinion leader
target market
nondurable goods
f.o.b. origin pricing
5. Tohose whose adoption to a new product signals a general acceptance of the innovation
nondurable goods
micromarketing
involvment
early majority
6. To try to find similar patterns within sets of data
f.o.b. delivered pricing
cost-plus pricing
clustering techniques
quantity discounts
7. The process by which people select - organize - and interpret information form the outside world
cost of ownership
raw materials
sales force forecasting survey
perception
8. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
national or manufacturer brands
mass marketing
self-concept
universal functions of marketing
9. The seller fine tunes the marketing effort with info from a detailed customer database
customer relationship management (crm)
trial pricing
combined market approach
regression analysis
10. A marketing mix is tailored to fit some specific target customers
variable costs
target marketing
evaluative criteria
market
11. 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
reference group
margin
uniform delivered pricing
12. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
variable costs
multicultural marketing
empty nesters
predatory pricing
13. Those that actually affect the customers purchase of specific product or brand in a product market
personality
determining dimensions
evaluative criteria
price elastic
14. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
multicultural marketing
late majority
multiple target market approach
national or manufacturer brands
15. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins
penetration strategy
bid riggin
birthrate
gen y
16. Sales forecasting based on the intuition of one or more executives
executive judgement
core product
shopping product
test marketing
17. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
raw materials
price elastic
dynamically continuous innovation
disposable income
18. To try to increase the size of their target markets by combining two or more segments
sales forecast
uniform delivered pricing
combiners
decline stage
19. A pricing strategy in which a firm sets prices that provide ultimate value to customers
attitude
multiple target market approach
fixed costs
value pricing everyday low-pricing
20. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows
maturity stage
strategic business unit sbu
pure subsistence economy
brand extension
21. 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
national or manufacturer brands
reciprocity
nondurable goods
22. The psychological characteristics that consistently influence the way a person responds to situations in the environment
trade or functional discounts
reference group
discetionary income
personality
23. The dimensions that consumers use to compare completing product alternatives
evaluative criteria
image enhancement objective
target market
trial pricing
24. When a percentage change in price results in a larger percentage change in the quantity demanded
national or manufacturer brands
price elastic
customer forecasting survey
portfolio management
25. Brands that are owned and sold by a specific - retailer or distributor
maturity stage
disintermediation
store or private-label brands
decline stage
26. A strategy of frequently using sale prices to increase sales volume
discetionary income
hierarchy of needs
multicultural marketing
frequent discounting
27. 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
multicultural marketing
yield-management pricing
market segmentation
Delphi technique
28. Moral standards that guide marketing decisions and actions
brand extension
brand equity
marketing ethics
price subsidies
29. Pricing a new product low for a limited period of time to lower the risk for a customer
trade or functional discounts
demand curve
trial pricing
combined market approach
30. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
venture teams
stimulus generalization
learning
opportunity cost
31. When a percentage change in price results in a smaller percentage change in the quantity demanded
target costing
price inelastic
discontinuous innovation
culture
32. 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
motivation
trend analysis
sales or market share objective
33. Relevant to including a customer type in a product market
maintenance - repair - and operating products
demand-based pricing
product line
qualifying dimensions
34. Charging a very high - premium price for a new product
senior citizens
judgment
skimming price
mass selling
35. A product people often buy on the spur of the moment
product category manager
impulse product
reciprocity
goods
36. A new product sold with the same brand name as a strong existing brand
regression analysis
continous innovation
micromarketing
brand extension
37. Basic or necessary items that are available almost everywhere
cycle analysis
staples
cognitive learning theory
demand-based pricing
38. A flexible pricing strategy that reflects what individual customers are willing to pay
maintenance - repair - and operating products
price inelastic
determining dimensions
variable pricing
39. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
heuristics
cognitive learning theory
continous innovation
trend analysis
40. A new product that does not reach expectations for success - failing to reach sales objectives set
fast-moving consumer goods
sustainability
innovation
new product failure
41. The collaboration of two or more firms in setting prices - usually to keep prices high
empty nesters
price maintenance
involvment
reciprocity
42. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
core product
zone pricing
dynamic pricing
target market
43. A manager who is responsible for developing and implementing the marketing plan for a single brand
universal functions of marketing
augmented product
marketing ethics
brand manager
44. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country
personality
trademark
impulse product
discetionary income
45. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues
segmenting
attitude
knock-off
breakthrough opportunities
46. Discounts based only on the quantity purchased in individual orders
differentation
mass marketing
non-cumulative quantity discounts
cycle analysis
47. A firm's total product offering designed to satisfy a single need or desire of target customers
frequent discounting
sex roles
price elastic
product line
48. A strategy of experimenting with prices until the price that generates the highest profitability is found
target marketing
demand curve
non-cumulative quantity discounts
experimental pricing
49. Selling two or more goods or services as a single package for one price
macro marketing
price bundling
diffusion
target marketing
50. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
behavioral learning theories
SWOT analysis
segments
online auctions