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






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






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






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






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






6. 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






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






8. Costs involved in moving from one brand to another






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






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






11. A mental rule of thumb that leads to a speedy decision by simplifying the process






12. 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






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






14. A new product that copies with slight modification the design of an original product






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






16. 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






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






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






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






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






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






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






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






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






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






26. 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






27. A social process that directs an economy






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






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






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






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






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






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






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






35. 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






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






37. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase






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






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






40. 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






41. A new product that does not reach expectations for success - failing to reach sales objectives set






42. People born between 1946 and 1964






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






44. Charging a very high - premium price for a new product






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






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






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






48. 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






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






50. A firm's total product offering designed to satisfy a single need or desire of target customers