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






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






3. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country






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






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






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






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






8. Income that is adjusted to take out the effects of inflation on purchasing power






9. The value of something that is given up to obtain something else






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






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






12. Costs involved in using a product






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






14. 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






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






16. A strategy of frequently using sale prices to increase sales volume






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






18. Goods that a business customer consumes in a relatively short time






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






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






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






22. 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






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






24. 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






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






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






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






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






29. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same






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






31. Pricing that is intended to have an effect on the marketing efforts of the competition






32. The price the end customer is expected to pay as determined by the manufacturer






33. The process by which organization adjust their offering in an attempt to match demand






34. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets






35. 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






36. 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






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






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






39. A strategy of ducking under a competitor's price by a fixed percentage






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






41. 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






42. When each family unit produces everything it consumes






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






44. A brand that a group of individual products or individual brands share






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






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






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






48. Costs involved in moving from one brand to another






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






50. To try to find similar patterns within sets of data







Sorry!:) No result found.

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