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






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






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






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






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






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






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






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






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






10. A social process that directs an economy






11. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes






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






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






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






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






16. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






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






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






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






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






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






22. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire






23. Products that consumers purchase to signal membership in a desirable social class






24. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition






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






26. An agreement between two brands to work together in marketing new or existing products






27. A manager who is responsible for developing and implementing the marketing plan for a single brand






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






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






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






31. What is left after taxes






32. An internal state that drives us to satisfy needs by activating goal-oriented behavior






33. The belief that use of a product has potentially negative consequences - either financial - physical or social






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






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






36. Pricing that is intended to maximize customer satisfaction and retention






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






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






39. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs






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






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






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






43. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time






44. 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






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






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






47. The value of a brand to an organization






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






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






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