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






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






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






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






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






6. Identifies and lists the firms strengths and weaknesses and its opportunities and threats






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






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






9. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events






10. Communicating with large numbers of customers at the same time






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






12. A pricing tactic in which the seller absorbs the total cost of transportation






13. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it






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






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






16. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm






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






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






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






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






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






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






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






25. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace






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






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






28. Relevant to including a customer type in a product market






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






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. A mental rule of thumb that leads to a speedy decision by simplifying the process






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






33. What is left after taxes






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






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






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






37. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences






38. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales






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






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






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






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






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






44. Manufactured goods or subassemblies of finished items that organizations need to complete their own product






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






46. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition






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






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






49. The process whereby a consumer searches for appropriate information needed to make a reasonable decision






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