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. A relatively permanent change in behavior caused by acquired information or experience






2. The actual interaction between the customer and the service provider






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






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






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






6. A totally new product that creates major changes in the way we live






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






8. Costs involved in moving from one brand to another






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






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






11. Communicating with large numbers of customers at the same time






12. The pricing strategy of setting prices below cost to attract customers into a store






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






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






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






16. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences






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






18. The process of eliminating interaction between customers and service providers






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






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






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






22. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price






23. 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






24. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production






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






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






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






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






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






30. A change in beliefs or actions as a reaction to real or imagined group pressure






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






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






33. 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






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






35. 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






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






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






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






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






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






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






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






43. Brands that the manufacturer of the product owns






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






45. A pricing strategy that considers the lifetime cost of using the product






46. Goods that a business customer consumes in a relatively short time






47. 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






48. The last consumers to adopt the innovation






49. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales






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