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. An aggregating process - clustering people with similar needs into a "market segment"






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






3. Refers to the generation born immediately following the baby boom - from 1965-1977






4. The difference between the cost of the product and the selling price of the product






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






7. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins






8. 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






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






10. People over 65






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






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






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






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






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






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






17. 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






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






19. Basic or necessary items that are available almost everywhere






20. The last consumers to adopt the innovation






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






22. An internal state that drives us to satisfy needs by activating goal-oriented behavior






23. 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






24. 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






25. 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






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






27. 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






28. A pricing strategy in which a firm sets prices that provide ultimate value to customers






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






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






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






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






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






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






35. Income that is adjusted to take out the effects of inflation on purchasing power






36. 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






37. Brands that the manufacturer of the product owns






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






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






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






41. 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






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






43. 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






44. A product people often buy on the spur of the moment






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






46. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs






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






48. An agreement between two brands to work together in marketing new or existing products






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






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






Can you answer 50 questions in 15 minutes?



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