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






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






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






4. Charging a very high - premium price for a new 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. Costs involved in using a product






7. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets






8. Discounts based only on the quantity purchased in individual orders






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






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






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






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






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






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






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






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






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






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






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






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






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






22. A strategy of frequently using sale prices to increase sales volume






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






24. A social process that directs an economy






25. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses






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






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






28. Discounts based on the total quantity bought within a specified time period






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






30. 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






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






32. 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






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






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






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






36. Costs involved in moving from one brand to another






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






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






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






40. People born between 1946 and 1964






41. 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






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






43. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior






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






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






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






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






48. 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






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






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







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