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






2. 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






3. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus






4. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time






5. 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






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






7. When each family unit produces everything it consumes






8. The seller fine tunes the marketing effort with info from a detailed customer database






9. All the benefits the product will provide for consumers or business customers






10. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline






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






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






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






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






15. People born between 1946 and 1964






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






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






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






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






20. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category






21. 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






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






23. A social process that directs an economy






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






25. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location






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






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






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






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






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






31. 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






32. 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






33. The last consumers to adopt the innovation






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






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






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






37. Brands that the manufacturer of the product owns






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






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






40. 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






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






42. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item






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






44. The process by which organization adjust their offering in an attempt to match demand






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






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






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






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






49. The final stage in the product life cycle - in which sales decrease as customer needs change






50. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses