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






2. When a percentage change in price results in a larger percentage change in the quantity demanded






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






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






5. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria






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






7. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences






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






9. 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






10. Tangible products we can see - touch - smell - hear - taste






11. 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






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






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






14. The set of alternative brands the consumer is considering for the decision process






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






16. 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






17. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time






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






19. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer






20. The dimensions that consumers use to compare completing product alternatives






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






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






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






24. 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






25. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace






26. Segmenting the market and picking one of the homogeneous segments as the firms target market






27. A pricing tactic of charging reduced prices for larger quantities of product






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






29. Pricing intended to establish a desired image or positioning to prospective customers






30. Costs involved in moving from one brand to another






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






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






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






34. Discounts based on the total quantity bought within a specified time period






35. 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






36. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories






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






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






39. A social process that directs an economy






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






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






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






43. Those who adopt an innovation early in the diffusion process but later than the innovators






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






45. Pricing that is intended to maximize customer satisfaction and retention






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






47. The last consumers to adopt the innovation






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






49. Basic or necessary items that are available almost everywhere






50. An integrated economic and social unit wit a large population nucleus