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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. Those who adopt an innovation early in the diffusion process but later than the innovators
cause-related marketing
expert forecasting survey
reciprocity
early adopters
2. 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
lifestyle
target marketing
list price
tipping point
3. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior
product market
evaluative criteria
reference group
baby boomers
4. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner
national or manufacturer brands
bartering
bid riggin
cycle analysis
5. A fairly homogeneous group of customers to whom a company wishes to appeal
target market
price discrimination
market segmentation
quantity discounts
6. 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
skimming price
uniform delivered pricing
cost-plus pricing
early majority
7. A firm's total product offering designed to satisfy a single need or desire of target customers
product line
early majority
involvment
decline stage
8. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition
inelastic demand
gen y
price discrimination
customer satisfaction objective
9. The strategy of selling products at unreasonably low prices to drive competitors out of business
demand-based pricing
bid riggin
staples
predatory pricing
10. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences
opinion leader
discontinuous innovation
skimming price
subculture
11. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities
single target market approach
sales forecast
customer satisfaction objective
prestige pricing
12. 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
target marketing
clustering techniques
market
innovation
13. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group
baby boomers
involvment
market manager
value pricing everyday low-pricing
14. Costs involved in moving from one brand to another
growth stage
switching costs
attitude
market manager
15. A flexible pricing strategy that reflects what individual customers are willing to pay
new product failure
variable pricing
diffusion
social class
16. 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
new product failure
senior citizens
Delphi technique
market manager
17. The process by which the use of a product spreads throughout the population
diffusion
trademark
culture
lifestyle
18. Income that is adjusted to take out the effects of inflation on purchasing power
competitive advantage
real income
cause-related marketing
consumer satisfaction/dissatisfiaction
19. The price the end customer is expected to pay as determined by the manufacturer
brand loyalty
combined market approach
determining dimensions
list price
20. To try to increase the size of their target markets by combining two or more segments
price leadership (follower)
competitive effect objective
baby boomers
combiners
21. The last consumers to adopt the innovation
family brand
laggards
fast-moving consumer goods
strategic business unit sbu
22. The physical good or the delivered service that supplies the desired benefit
empty nesters
actual product
late majority
brand loyalty
23. Pricing products with a focus on a target level of profit growth or a desired net profit margin
classical conditioning
profit objective
senior citizens
venture teams
24. A means of measuring a website's success by tracking customers' movement around the company website
mass selling
clickstream analysis
penetration strategy
market information function
25. Products that consumers purchase to signal membership in a desirable social class
Delphi technique
brand loyalty
status symbols
licensing
26. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales
trend analysis
cannibalization
core product
brand equity
27. Relevant to including a customer type in a product market
mass selling
qualifying dimensions
freight absorption pricing
subculture
28. The practice of linking products to a particular social cause on an ongoing or short-term basis
maturity stage
cause-related marketing
innovation
differentation
29. The division of a market according to benefits that consumers want from the product
benefit segmentation
consumer-to-consumer e-commerce
freight absorption pricing
seasonal analysis
30. The percentage change in unit sales that results from a percentage change in price
customer satisfaction objective
processed material
price elasticity
mass marketing
31. The regret or remorse buyers may feel after making a purchase
freight absorption pricing
product adoption
cognitive dissonance
non-cumulative quantity discounts
32. 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
growth stage
gen y
f.o.b. origin pricing
attitude
33. Selling two or more goods or services as a single package for one price
segments
knock-off
conformity
price bundling
34. Means that a firm has a marketing mix that the target market sees as better than a competitors mix
product category manager
birthrate
competitive advantage
hierarchy of needs
35. 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
laggards
consumer behavior
classical conditioning
captive pricing
36. Moral standards that guide marketing decisions and actions
combiners
diffusion
perception
marketing ethics
37. 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
early adopters
social class
unsought products
mass marketing
38. The value that customers give up - or exchange - to obtain a desired product
price
evaluative criteria
freight absorption pricing
discontinuous innovation
39. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time
raw materials
strategic business unit sbu
breakthrough opportunities
early majority
40. An aggregating process - clustering people with similar needs into a "market segment"
seasonal analysis
segmenting
staples
consideration set
41. Discounts based only on the quantity purchased in individual orders
loss-leader pricing
trend analysis
non-cumulative quantity discounts
bait and switch
42. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it
penetration strategy
market test
price inelastic
self-concept
43. Tangible products we can see - touch - smell - hear - taste
learning
price elastic
goods
bid riggin
44. The set of alternative brands the consumer is considering for the decision process
consideration set
continous innovation
senior citizens
laggards
45. People whose children are grown and who are now able to spend their money in other ways
consumer-to-consumer e-commerce
bartering
motivation
empty nesters
46. The process by which people select - organize - and interpret information form the outside world
perception
single target market approach
family brand
penetration strategy
47. The practice of setting a limited number of different specific prices - called price points - for items in a product line
price lining
bid riggin
component parts
late majority
48. The marketing mix is distinct from and better than what is available from a competitor
differentation
perceived risk
sales or market share objective
price discrimination
49. Brands that are owned and sold by a specific - retailer or distributor
capacity management
economics of scale
stimulus generalization
store or private-label brands
50. Number of babies born per 1000 people fluctuated greatly in last 65 years
sex roles
switching costs
birthrate
f.o.b. origin pricing