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






3. 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






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






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






6. Costs involved in moving from one brand to another






7. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category






8. Brands that are owned and sold by a specific - retailer or distributor






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






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






11. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line






12. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time






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






14. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced






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






16. A strategy of experimenting with prices until the price that generates the highest profitability is found






17. 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






18. Extent to which a firm fulfills a customers needs - desires - and expectations






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






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






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






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






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






24. 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






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






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






27. 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






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






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






30. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same






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






32. The price the end customer is expected to pay as determined by the manufacturer






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






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






35. 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






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






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






38. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus






39. To try to increase the size of their target markets by combining two or more segments






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






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






42. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri






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






44. The process by which a consumer or business customer begins to buy and use a new good - service - or idea






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






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






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






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






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






50. A totally new product that creates major changes in the way we live