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. Goods that a business customer consumes in a relatively short time






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






3. The regret or remorse buyers may feel after making a purchase






4. A relatively permanent change in behavior caused by acquired information or experience






5. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events






6. Costs involved in moving from one brand to another






7. Brands that are owned and sold by a specific - retailer or distributor






8. Products created when firms transform raw materials from their original state






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






10. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs






11. 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






12. A strategy of ducking under a competitor's price by a fixed percentage






13. People born between 1946 and 1964






14. The belief that use of a product has potentially negative consequences - either financial - physical or social






15. An arrangement unique to business marketing in which two organizations agree to buy from each other






16. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief






17. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort






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






19. A new product sold with the same brand name as a strong existing brand






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






21. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales






22. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase






23. The process by which people select - organize - and interpret information form the outside world






24. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales






25. Costs involved in using a product






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






27. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses






28. A situation in which an increase or a decrease in price will not significantly affect demand for the product






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






30. A survey of customers regarding the types and quantities of products they intend to buy during a specific period






31. E-commerce that allows shoppers to purchase products through online bidding






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






33. 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






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






35. People over 65






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






37. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production






38. Number of babies born per 1000 people fluctuated greatly in last 65 years






39. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.






40. A social process that directs an economy






41. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women






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






43. To try to increase the size of their target markets by combining two or more segments






44. Aim at one or more homogeneous segments and try to develop different marketing mix for each






45. A new product that copies with slight modification the design of an original product






46. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price






47. The overall feelings or attitude a person has about a product after purchasing it






48. 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






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






50. The dimensions that consumers use to compare completing product alternatives