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. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






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






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






4. An aggregating process - clustering people with similar needs into a "market segment"






5. 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






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






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






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






9. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production






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






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






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






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






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






15. The value of a brand to an organization






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






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






18. An arrangement unique to business marketing in which two organizations agree to buy from each other






19. A pricing tactic in which customers in different geographic zones pay different transportation rates






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






21. 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






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






23. The loss of sales of an existing product when a new item in a product line or product family is introduced






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






25. The actual interaction between the customer and the service provider






26. Brands that are owned and sold by a specific - retailer or distributor






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






28. People over 65






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






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






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






32. To try to increase the size of their target markets by combining two or more segments






33. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus






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






35. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales






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






37. 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






38. Costs involved in using a product






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






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. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition






42. The marketing mix is distinct from and better than what is available from a competitor






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






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






45. The process by which a consumer or business customer begins to buy and use a new good - service - or idea






46. E-commerce that allows shoppers to purchase products through online bidding






47. Basic or necessary items that are available almost everywhere






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






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






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