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. 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






2. Moral standards that guide marketing decisions and actions






3. Pricing intended to establish a desired image or positioning to prospective customers






4. The physical good or the delivered service that supplies the desired benefit






5. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer






6. The process of eliminating interaction between customers and service providers






7. 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






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






9. Selling two or more goods or services as a single package for one price






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






11. A flexible pricing strategy that reflects what individual customers are willing to pay






12. When each family unit produces everything it consumes






13. The value of a brand to an organization






14. A fairly homogeneous group of customers to whom a company wishes to appeal






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






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






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






18. The process by which a consumer or business customer begins to buy and use a new good - service - or idea






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






20. Those who adopt an innovation early in the diffusion process but later than the innovators






21. 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






22. A marketing mix is tailored to fit some specific target customers






23. 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






24. An integrated economic and social unit wit a large population nucleus






25. The first segment (2.5%) of a population to adopt a new product






26. A strategy of experimenting with prices until the price that generates the highest profitability is found






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






28. 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






29. A strategy where prices are set significantly higher than competing brands






30. Brands that the manufacturer of the product owns






31. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix






32. The psychological characteristics that consistently influence the way a person responds to situations in the environment






33. Relevant to including a customer type in a product market






34. 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






35. 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






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






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






38. A totally new product that creates major changes in the way we live






39. Expensive goods that an organization uses in its daily operations that last for a long time






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






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






42. Products we purchase when we're in dire need






43. A pricing tactic in which customers in different geographic zones pay different transportation rates






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






45. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced






46. Pricing that is intended to have an effect on the marketing efforts of the competition






47. The last consumers to adopt the innovation






48. 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






49. Those that actually affect the customers purchase of specific product or brand in a product market






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