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






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






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






4. 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






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






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






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






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






9. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item






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






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






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






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






14. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer






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






16. The final stage in the product life cycle - in which sales decrease as customer needs change






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






18. Theories of learning that focus on how consumer behavior is changed by external events or stimuli






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






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






21. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment






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






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






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






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






26. Discounts based only on the quantity purchased in individual orders






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






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






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






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






31. What is left of disposable income after paying for necessities






32. A means of characterizing consumers based on the different family stages they pass through as they grow older






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






34. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows






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






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






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






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 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






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






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






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






43. The relative importance of perceived consequences of the purchase to a consumer






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






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






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






47. A flexible pricing strategy that reflects what individual customers are willing to pay






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






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






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