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






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






3. Extent to which a firm fulfills a customers needs - desires - and expectations






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






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






6. 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






7. 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






8. 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






9. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer






10. Brands that the manufacturer of the product owns






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






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






13. A survey of customers regarding the types and quantities of products they intend to buy during a specific period






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






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






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






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






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






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






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






21. Expensive goods that an organization uses in its daily operations that last for a long time






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






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






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






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






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






27. 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






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






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






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






31. Learning that occurs as the result of rewards of punishments






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






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






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






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






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






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






39. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information






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






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






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






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






44. A flexible pricing strategy that reflects what individual customers are willing to pay






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






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






47. 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






48. The process by which organization adjust their offering in an attempt to match demand






49. Pricing a new product low for a limited period of time to lower the risk for a customer






50. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace