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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 manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category
product line
late majority
product category manager
target marketing
2. A manager who is responsible for developing and implementing the marketing plan for a single brand
universal functions of marketing
real income
brand manager
price leadership (follower)
3. An agreement between two brands to work together in marketing new or existing products
heuristics
freight absorption pricing
co-branding
sustainability
4. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced
status symbols
variable costs
late majority
core product
5. The values - beliefs - customs - and tastes that a group of people value
culture
trade or functional discounts
price subsidies
portfolio management
6. 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
dynamic pricing
economics of scale
actual product
market information function
7. Moral standards that guide marketing decisions and actions
non-cumulative quantity discounts
product adoption
market segment
marketing ethics
8. Basic or necessary items that are available almost everywhere
competitive effect objective
staples
early adopters
bait and switch
9. A mental rule of thumb that leads to a speedy decision by simplifying the process
national or manufacturer brands
price elastic
target market
heuristics
10. An integrated economic and social unit wit a large population nucleus
freight absorption pricing
switching costs
early adopters
metropolitan statistical area (msa)
11. An organizational unit that focuses on some product markets and is treated as a separate profit center
strategic business unit sbu
test marketing
involvment
captive pricing
12. 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
product line
mass selling
brand
product market
13. 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
real income
product life cycle
trademark
14. Charging a very high - premium price for a new product
opportunity cost
brand
f.o.b. origin pricing
skimming price
15. 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
opinion leader
customer forecasting survey
consumer behavior
portfolio management
16. What is left after taxes
brand manager
perceived risk
disposable income
competitive effect objective
17. The physical good or the delivered service that supplies the desired benefit
price bundling
predatory pricing
actual product
customer satisfaction
18. To try to find similar patterns within sets of data
cost of ownership
late majority
opinion leader
clustering techniques
19. The difference between the cost of the product and the selling price of the product
margin
tipping point
market manager
family brand
20. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus
bartering
f.o.b. origin pricing
behavioral learning theories
classical conditioning
21. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix
trend analysis
multiple target market approach
decline stage
information search
22. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events
demand curve
single target market approach
random factor analysis
innovation
23. The pricing strategy of setting prices below cost to attract customers into a store
product category manager
loss-leader pricing
product adoption
freight absorption pricing
24. Products we purchase when we're in dire need
emergency product
sales forecast
product adoption
lifestyle
25. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information
universal functions of marketing
mass selling
value pricing everyday low-pricing
bartering
26. Pricing products to maximize sales or to attain a desired level of sales or market share
actual product
product market
sales or market share objective
reference group
27. Pricing that is intended to maximize customer satisfaction and retention
opinion leader
component parts
fixed costs
customer satisfaction objective
28. The strategy of selling products at unreasonably low prices to drive competitors out of business
predatory pricing
product life cycle
profit objective
trade or functional discounts
29. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri
demand-based pricing
motivation
target costing
target marketing
30. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
innovators
competitive advantage
conformity
goods
31. Tohose whose adoption to a new product signals a general acceptance of the innovation
brand equity
consumer satisfaction/dissatisfiaction
early majority
early adopters
32. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products
profit objective
raw materials
strategic business unit sbu
breakthrough opportunities
33. The psychological characteristics that consistently influence the way a person responds to situations in the environment
personality
staples
customer relationship management (crm)
specialty products
34. The process by which the use of a product spreads throughout the population
experimental pricing
conformity
late majority
diffusion
35. A situation in which an increase or a decrease in price will not significantly affect demand for the product
gen y
breakthrough opportunities
inelastic demand
laggards
36. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
price elastic
product market
bartering
price discrimination
37. 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
regression analysis
sales or market share objective
zone pricing
bait and switch
38. The seller fine tunes the marketing effort with info from a detailed customer database
dynamically continuous innovation
laggards
customer relationship management (crm)
cost-plus pricing
39. A new product that does not reach expectations for success - failing to reach sales objectives set
product category manager
clickstream analysis
f.o.b. origin pricing
new product failure
40. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances
portfolio management
maintenance - repair - and operating products
durable goods
expert forecasting survey
41. 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
price maintenance
price inelastic
competitive advantage
hierarchy of needs
42. 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
tipping point
quantity discounts
equipment
cost-plus pricing
43. A change in beliefs or actions as a reaction to real or imagined group pressure
market segment
strategic business unit sbu
regression analysis
conformity
44. Theories of learning that focus on how consumer behavior is changed by external events or stimuli
cost-plus pricing
behavioral learning theories
sustainability
laggards
45. People whose children are grown and who are now able to spend their money in other ways
knock-off
multicultural marketing
introduction
empty nesters
46. The dimensions that consumers use to compare completing product alternatives
evaluative criteria
heuristics
laggards
subculture
47. 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
trial pricing
f.o.b. origin pricing
macro marketing
product line
48. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase
growth stage
baby boomers
dynamic pricing
co-branding
49. People born between 1946 and 1964
baby boomers
service encounter
economics of scale
freight absorption pricing
50. Identifies and lists the firms strengths and weaknesses and its opportunities and threats
SWOT analysis
market information function
price leadership (follower)
lifestyle