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






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






3. What is left after taxes






4. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events






5. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line






6. Products we purchase when we're in dire need






7. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires






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






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






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






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






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






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






14. The practice of setting a limited number of different specific prices - called price points - for items in a product line






15. 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






16. The difference between the cost of the product and the selling price of the product






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






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






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






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






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






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






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






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






25. The last consumers to adopt the innovation






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






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






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






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






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






31. 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






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






33. The process by which the use of a product spreads throughout the population






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






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






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






37. The process whereby a consumer searches for appropriate information needed to make a reasonable decision






38. 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






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






40. Means that a firm has a marketing mix that the target market sees as better than a competitors mix






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






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






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






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






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






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






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






48. A totally new product that creates major changes in the way we live






49. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it






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







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


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