Test your basic knowledge |

Marketing Basics

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. People whose children are grown and who are now able to spend their money in other ways






2. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group






3. A pricing tactic of charging reduced prices for larger quantities of product






4. 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






5. 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






6. A change in beliefs or actions as a reaction to real or imagined group pressure






7. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria






8. The practice of exchanging a good or service for another good or service of like value






9. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter






10. Pricing that is intended to maximize customer satisfaction and retention






11. When a percentage change in price results in a larger percentage change in the quantity demanded






12. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase






13. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences






14. A pricing tactic in which the seller absorbs the total cost of transportation






15. A pricing strategy in which a firm sets prices that provide ultimate value to customers






16. A price-setting method based on estimated of demand at different prices






17. An organizational unit that focuses on some product markets and is treated as a separate profit center






18. People over 65






19. Pricing products to maximize sales or to attain a desired level of sales or market share






20. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner






21. Extent to which a firm fulfills a customers needs - desires - and expectations






22. A new product that does not reach expectations for success - failing to reach sales objectives set






23. A manager who is responsible for developing and implementing the marketing plan for a single brand






24. Communicating with large numbers of customers at the same time






25. When a percentage change in price results in a smaller percentage change in the quantity demanded






26. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues






27. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires






28. The process whereby a consumer searches for appropriate information needed to make a reasonable decision






29. The strategy of selling products at unreasonably low prices to drive competitors out of business






30. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time






31. A change in an existing product that requires a moderate amount of learning or behavior change






32. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace






33. Discounts based only on the quantity purchased in individual orders






34. Combining two or more submarkets into one larger target market as a basis for one strategy






35. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






36. A pricing strategy that draws on past experience of the marketer in setting appropriate prices






37. Costs of production that do not change with the number of units produced






38. A product that consumers perceive to be new and different form existing products






39. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition






40. The collaboration of two or more firms in setting prices - usually to keep prices high






41. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes






42. To try to find similar patterns within sets of data






43. What is left of disposable income after paying for necessities






44. The last consumers to adopt the innovation






45. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace






46. Tohose whose adoption to a new product signals a general acceptance of the innovation






47. The practice of linking products to a particular social cause on an ongoing or short-term basis






48. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale






49. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire






50. A practice of charging different prices to a different customers to manage capacity while maximizing revenues