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






2. Combining two or more submarkets into one larger target market as a basis for one strategy






3. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer






4. 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






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






6. Brands that the manufacturer of the product owns






7. 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






8. What is left after taxes






9. 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






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






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






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






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






14. The marketing mix is distinct from and better than what is available from a competitor






15. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time






16. Group of people within an organization who focus exclusively on the development of a new product






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






18. 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






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






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






21. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes






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






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






24. The last consumers to adopt the innovation






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






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






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






28. Those who adopt an innovation early in the diffusion process but later than the innovators






29. Aim at one or more homogeneous segments and try to develop different marketing mix for each






30. Costs involved in moving from one brand to another






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






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






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






34. 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






35. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs






36. The practice of exchanging a good or service for another good or service of like value






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






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






39. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm






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






41. A fairly homogeneous group of customers to whom a company wishes to appeal






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






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






44. The relative importance of perceived consequences of the purchase to a consumer






45. Basic or necessary items that are available almost everywhere






46. Those that actually affect the customers purchase of specific product or brand in a product market






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






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






49. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues






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