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






2. 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






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






4. A social process that directs an economy






5. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition






6. 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






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






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






9. 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






10. Products created when firms transform raw materials from their original state






11. The set of alternative brands the consumer is considering for the decision process






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






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






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






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






16. People over 65






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






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






19. Costs involved in moving from one brand to another






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






21. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix






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






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






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






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






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






27. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus






28. 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






29. People born between 1946 and 1964






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






31. 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






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






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






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






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






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






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






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






39. A change in an existing product that requires a moderate amount of learning or behavior change






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






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






42. Brands that the manufacturer of the product owns






43. A homogeneous group of customers who will respond to a marketing mix in a similiar way






44. 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






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






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






47. A situation in which an increase or a decrease in price will not significantly affect demand for the product






48. The division of a market according to benefits that consumers want from the product






49. The last consumers to adopt the innovation






50. 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






Can you answer 50 questions in 15 minutes?



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