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 survey of a firm's sales force regarding anticipated sales in their territories for a specified period.






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






3. 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






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






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






6. 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






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






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






9. All the benefits the product will provide for consumers or business customers






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






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






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






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






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






16. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes






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






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






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






20. The value of a brand to an organization






21. 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






22. The last consumers to adopt the innovation






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






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






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






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






27. 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






28. 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






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






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






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






32. The practice of linking products to a particular social cause on an ongoing or short-term basis






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






34. The values - beliefs - customs - and tastes that a group of people value






35. When a percentage change in price results in a smaller percentage change in the quantity demanded






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






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






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






39. 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






40. The difference between the cost of the product and the selling price of the product






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






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






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






44. People over 65






45. When each family unit produces everything it consumes






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






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






48. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced






49. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix






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







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