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 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






2. Products that exhibit consistently high velocity sales in the consumer marketplace






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






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






5. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner






6. To try to increase the size of their target markets by combining two or more segments






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






8. A new product that does not reach expectations for success - failing to reach sales objectives set






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






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






11. 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






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






13. A mental rule of thumb that leads to a speedy decision by simplifying the process






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






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






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






17. 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






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






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






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






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






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






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






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






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






26. A means of measuring a website's success by tracking customers' movement around the company website






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






28. Brands that are owned and sold by a specific - retailer or distributor






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






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






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






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






33. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri






34. All the benefits the product will provide for consumers or business customers






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






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






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






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






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






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






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






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






43. A practice of charging different prices to a different customers to manage capacity while maximizing revenues






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






45. The process by which people select - organize - and interpret information form the outside world






46. A strategy where prices are set significantly higher than competing brands






47. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income






48. Charging a very high - premium price for a new product






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






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