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






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






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






4. 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






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






6. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria






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






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






9. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli






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






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






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






13. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location






14. Income that is adjusted to take out the effects of inflation on purchasing power






15. Extent to which a firm fulfills a customers needs - desires - and expectations






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






17. A totally new product that creates major changes in the way we live






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






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






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






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






22. Tohose whose adoption to a new product signals a general acceptance of the innovation






23. When a percentage change in price results in a larger percentage change in the quantity demanded






24. Those that actually affect the customers purchase of specific product or brand in a product market






25. People born between 1946 and 1964






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






27. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins






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






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. 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






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






32. A strategy where prices are set significantly higher than competing brands






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






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






35. 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






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






37. The pricing strategy of setting prices below cost to attract customers into a store






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






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






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






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






42. A modification of an existing product that sets one brand apart from its competitors






43. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same






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






45. People over 65






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






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






48. The set of alternative brands the consumer is considering for the decision process






49. A pricing strategy in which a firm sets prices that provide ultimate value to customers






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