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. The overall feelings or attitude a person has about a product after purchasing it






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






3. The marketing mix is distinct from and better than what is available from a competitor






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






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






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






7. The value of something that is given up to obtain something else






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






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






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






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






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






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






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






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






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






17. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses






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






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






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






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






22. Theories of learning that focus on how consumer behavior is changed by external events or stimuli






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






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






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






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






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






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






29. Costs involved in moving from one brand to another






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






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






32. A pricing strategy that draws on past experience of the marketer in setting appropriate prices






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






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






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






36. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase






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






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






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






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






41. A survey of customers regarding the types and quantities of products they intend to buy during a specific period






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






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






44. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses






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






46. A social process that directs an economy






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






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






49. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas






50. 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