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






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






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






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






5. The division of a market according to benefits that consumers want from the product






6. A situation in which an increase or a decrease in price will not significantly affect demand for the product






7. 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






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






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






10. The process by which the use of a product spreads throughout the population






11. 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






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






13. 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






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






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






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






17. Basic or necessary items that are available almost everywhere






18. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix






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






20. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses






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 brand that a group of individual products or individual brands share






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






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






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






26. 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






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






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






29. 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






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






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






32. 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






33. A pricing strategy that considers the lifetime cost of using the product






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






35. A new product sold with the same brand name as a strong existing brand






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






37. Sales forecasting based on the intuition of one or more executives






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






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






40. 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






41. Costs involved in using a product






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






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






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






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






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






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






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






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






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