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






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






4. The value that customers give up - or exchange - to obtain a desired product






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






6. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase






7. 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






8. Costs involved in using a product






9. The percentage change in unit sales that results from a percentage change in price






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






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






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






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






14. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline






15. 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






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






17. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.






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






19. Moral standards that guide marketing decisions and actions






20. 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






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






22. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline






23. Costs involved in moving from one brand to another






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






25. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition






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






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






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






29. Brands that the manufacturer of the product owns






30. People born between 1946 and 1964






31. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time






32. Products that consumers purchase to signal membership in a desirable social class






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






34. 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






35. A pricing strategy that draws on past experience of the marketer in setting appropriate prices






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






37. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs






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






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






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






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






42. 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






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






44. A product that consumers perceive to be new and different form existing products






45. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase






46. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances






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






48. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs






49. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit






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