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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 totally new product that creates major changes in the way we live
augmented product
discontinuous innovation
durable goods
maintenance - repair - and operating products
2. 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
classical conditioning
multiple target market approach
hierarchy of needs
sustainability
3. The value that customers give up - or exchange - to obtain a desired product
random factor analysis
market
price
uniform delivered pricing
4. The overall feelings or attitude a person has about a product after purchasing it
consumer satisfaction/dissatisfiaction
opportunity cost
disintermediation
price maintenance
5. A pricing strategy that considers the lifetime cost of using the product
breakthrough opportunities
cost of ownership
family life cycle
consideration set
6. Discounts based only on the quantity purchased in individual orders
baby boomers
clustering techniques
segments
non-cumulative quantity discounts
7. Those who adopt an innovation early in the diffusion process but later than the innovators
motivation
early adopters
baby boomers
augmented product
8. 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
combiners
random factor analysis
senior citizens
cognitive learning theory
9. Moral standards that guide marketing decisions and actions
opportunity cost
marketing ethics
mass marketing
service encounter
10. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace
hierarchy of needs
brand extension
dynamic pricing
brand
11. 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
trial pricing
personality
skimming price
bait and switch
12. 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
staples
sustainability
brand manager
13. A pricing tactic in which customers in different geographic zones pay different transportation rates
micromarketing
zone pricing
operant conditioning
price-floor pricing
14. 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
switching costs
product category manager
opportunity cost
market segmentation
15. An organizational unit that focuses on some product markets and is treated as a separate profit center
skimming price
strategic business unit sbu
single target market approach
yield-management pricing
16. A product people often buy on the spur of the moment
impulse product
trend analysis
classical conditioning
opportunity cost
17. The value of a brand to an organization
brand equity
service encounter
universal functions of marketing
consumer satisfaction/dissatisfiaction
18. Selling two or more goods or services as a single package for one price
maintenance - repair - and operating products
perceived risk
fixed costs
price bundling
19. The relative importance of perceived consequences of the purchase to a consumer
experimental pricing
involvment
heuristics
stimulus generalization
20. A new product sold with the same brand name as a strong existing brand
cannibalization
price subsidies
motivation
brand extension
21. A modification of an existing product that sets one brand apart from its competitors
price-floor pricing
continous innovation
list price
licensing
22. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires
cycle analysis
consumer behavior
brand
regression analysis
23. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas
judgment
market information function
personality
introduction
24. A flexible pricing strategy that reflects what individual customers are willing to pay
micromarketing
variable pricing
classical conditioning
consumer behavior
25. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli
stimulus generalization
family brand
decline stage
equipment
26. Brands that the manufacturer of the product owns
variable pricing
national or manufacturer brands
stimulus generalization
product life cycle
27. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
price bundling
component parts
variable costs
fixed costs
28. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales
operant conditioning
dynamically continuous innovation
seasonal analysis
social class
29. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline
random factor analysis
yield-management pricing
economics of scale
product life cycle
30. The belief that use of a product has potentially negative consequences - either financial - physical or social
expert forecasting survey
discetionary income
social class
perceived risk
31. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs
sustainability
product category manager
product adoption
augmented product
32. Extent to which a firm fulfills a customers needs - desires - and expectations
licensing
segmenting
information search
customer satisfaction
33. When each family unit produces everything it consumes
pure subsistence economy
equipment
price inelastic
consumer satisfaction/dissatisfiaction
34. The strategy of selling products at unreasonably low prices to drive competitors out of business
predatory pricing
price leadership (follower)
family life cycle
price inelastic
35. The value of something that is given up to obtain something else
segments
combiners
opportunity cost
umbrella pricing
36. 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
shopping product
demand-based pricing
lifestyle
tipping point
37. The last consumers to adopt the innovation
competitive advantage
online auctions
customer satisfaction
laggards
38. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace
price bundling
price
introduction
store or private-label brands
39. 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
cost-plus pricing
price lining
universal functions of marketing
expert forecasting survey
40. 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
demand curve
raw materials
f.o.b. delivered pricing
pure subsistence economy
41. Products we purchase when we're in dire need
marketing ethics
random factor analysis
emergency product
raw materials
42. A pricing tactic of charging reduced prices for larger quantities of product
umbrella pricing
combined market approach
tipping point
quantity discounts
43. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
competitive advantage
captive pricing
real income
target marketing
44. The collaboration of two or more firms in setting prices - usually to keep prices high
market
price maintenance
brand
sustainability
45. The regret or remorse buyers may feel after making a purchase
convenience product
reference group
cognitive dissonance
variable costs
46. Pricing products with a focus on a target level of profit growth or a desired net profit margin
opinion leader
profit objective
customer forecasting survey
laggards
47. A change in an existing product that requires a moderate amount of learning or behavior change
brand
dynamically continuous innovation
social class
price bundling
48. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition
staples
brand
random factor analysis
unsought products
49. A means of characterizing consumers based on the different family stages they pass through as they grow older
variable costs
service encounter
competitive advantage
family life cycle
50. Relevant to including a customer type in a product market
brand
random factor analysis
strategic business unit sbu
qualifying dimensions