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






2. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price






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






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






5. 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






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






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






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






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






10. 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






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






12. The psychological characteristics that consistently influence the way a person responds to situations in the environment






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






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






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






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






17. Pricing that is intended to have an effect on the marketing efforts of the competition






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






19. A strategy of ducking under a competitor's price by a fixed percentage






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






21. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top






22. 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






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






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






25. A new product that does not reach expectations for success - failing to reach sales objectives set






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






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






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






29. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention






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






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






32. People born between 1946 and 1964






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






34. 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






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






36. A fairly homogeneous group of customers to whom a company wishes to appeal






37. The percentage change in unit sales that results from a percentage change in price






38. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures






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






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






41. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer






42. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income






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






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






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






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






47. The physical good or the delivered service that supplies the desired benefit






48. Moral standards that guide marketing decisions and actions






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






50. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline