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






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






3. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances






4. Discounts based on the total quantity bought within a specified time period






5. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income






6. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information






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






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






9. 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






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






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






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






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






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






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






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






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






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






19. The process of eliminating interaction between customers and service providers






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






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






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






23. A social process that directs an economy






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






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






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






27. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs






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






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






30. E-commerce that allows shoppers to purchase products through online bidding






31. 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






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






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






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






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






36. The process by which organization adjust their offering in an attempt to match demand






37. When each family unit produces everything it consumes






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






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






40. 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






41. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women






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






43. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities






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






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






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






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






48. Moral standards that guide marketing decisions and actions






49. The value of a brand to an organization






50. 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