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. The percentage change in unit sales that results from a percentage change in price






2. A means of measuring a website's success by tracking customers' movement around the company website






3. Pricing a new product low for a limited period of time to lower the risk for a customer






4. 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






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






6. Costs involved in using a product






7. The value of a brand to an organization






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






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






10. Sometimes called millenials - refer to those born from 1978-1994






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






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






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






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






15. 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






16. 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






17. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli






18. The loss of sales of an existing product when a new item in a product line or product family is introduced






19. 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






20. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income






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






22. Manufactured goods or subassemblies of finished items that organizations need to complete their own product






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






24. The process by which the use of a product spreads throughout the population






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






26. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition






27. The practice of setting a limited number of different specific prices - called price points - for items in a product line






28. The value of something that is given up to obtain something else






29. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer






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






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






32. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows






33. People born between 1946 and 1964






34. A means of characterizing consumers based on the different family stages they pass through as they grow older






35. Theories of learning that focus on how consumer behavior is changed by external events or stimuli






36. A social process that directs an economy






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






38. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities






39. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures






40. Products that exhibit consistently high velocity sales in the consumer marketplace






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






42. 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






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






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






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






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






47. Discounts based on the total quantity bought within a specified time period






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






49. Brands that the manufacturer of the product owns






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