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






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






3. The division of a market according to benefits that consumers want from the product






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






5. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention






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






7. Segmenting the market and picking one of the homogeneous segments as the firms target market






8. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm






9. 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






10. Pricing products with a focus on a target level of profit growth or a desired net profit margin






11. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






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






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






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






15. A modification of an existing product that sets one brand apart from its competitors






16. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.






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






18. A brand that a group of individual products or individual brands share






19. People over 65






20. Group of people within an organization who focus exclusively on the development of a new product






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






22. Means that a firm has a marketing mix that the target market sees as better than a competitors mix






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






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






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






26. Sales forecasting based on the intuition of one or more executives






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






28. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri






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






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






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






32. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it






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






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






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






36. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances






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






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






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






40. What is left after taxes






41. Moral standards that guide marketing decisions and actions






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






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






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






45. The values - beliefs - customs - and tastes that a group of people value






46. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country






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






48. Tangible products we can see - touch - smell - hear - taste






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






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