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






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






3. 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






4. 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






5. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down






6. The overall feelings or attitude a person has about a product after purchasing it






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






8. Communicating with large numbers of customers at the same time






9. Brands that the manufacturer of the product owns






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






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






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






13. A price-setting method based on estimated of demand at different prices






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






15. Costs involved in using a product






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






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






18. 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






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






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






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






22. A product people often buy on the spur of the moment






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






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






25. An agreement between two brands to work together in marketing new or existing products






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






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






28. A modification of an existing product that sets one brand apart from its competitors






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






30. An organizational unit that focuses on some product markets and is treated as a separate profit center






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






32. 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






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






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






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






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






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






38. 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






39. A fairly homogeneous group of customers to whom a company wishes to appeal






40. A social process that directs an economy






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






42. 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






43. 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






44. Sometimes called millenials - refer to those born from 1978-1994






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






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






47. Pricing products to maximize sales or to attain a desired level of sales or market share






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






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






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