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. Moral standards that guide marketing decisions and actions






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






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






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






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






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






7. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information






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






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






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






11. 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






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






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






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






15. To try to find similar patterns within sets of data






16. Selling two or more goods or services as a single package for one price






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






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






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






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






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






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






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






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






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






26. Pricing products with a focus on a target level of profit growth or a desired net profit margin






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






28. A product that consumers perceive to be new and different form existing products






29. A new product that copies with slight modification the design of an original product






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






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






32. Costs of production that do not change with the number of units produced






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






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






35. Charging a very high - premium price for a new product






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






37. When each family unit produces everything it consumes






38. 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






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






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






41. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time






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






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






44. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences






45. 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






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






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






48. What is left after taxes






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






50. The first segment (2.5%) of a population to adopt a new product