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 value of a brand to an organization






2. 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






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






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






5. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires






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






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






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






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






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






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






12. A social process that directs an economy






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






14. Learning that occurs as the result of rewards of punishments






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






16. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition






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






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






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






20. Products that exhibit consistently high velocity sales in the consumer marketplace






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






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






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






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






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






26. 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






27. Expensive goods that an organization uses in its daily operations that last for a long time






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






29. A strategy where prices are set significantly higher than competing brands






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






31. People over 65






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






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






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






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






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






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






39. Pricing intended to establish a desired image or positioning to prospective customers






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






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






42. What is left of disposable income after paying for necessities






43. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition






44. People born between 1946 and 1964






45. 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






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






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






48. The last consumers to adopt the innovation






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






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