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 set of alternative brands the consumer is considering for the decision process






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






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






4. 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






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






6. Costs involved in moving from one brand to another






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






8. The value that customers give up - or exchange - to obtain a desired product






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






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






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






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






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






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






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






16. People born between 1946 and 1964






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






18. A firm's total product offering designed to satisfy a single need or desire of target customers






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






20. The actual interaction between the customer and the service provider






21. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production






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






23. A means of measuring a website's success by tracking customers' movement around the company website






24. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase






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






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






27. 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






28. All the benefits the product will provide for consumers or business customers






29. Brands that the manufacturer of the product owns






30. 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






31. 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






32. A flexible pricing strategy that reflects what individual customers are willing to pay






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






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






35. When each family unit produces everything it consumes






36. The process whereby a consumer searches for appropriate information needed to make a reasonable decision






37. An arrangement unique to business marketing in which two organizations agree to buy from each other






38. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort






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






40. When a percentage change in price results in a larger percentage change in the quantity demanded






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






42. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior






43. The pricing strategy of setting prices below cost to attract customers into a store






44. A change in an existing product that requires a moderate amount of learning or behavior change






45. The last consumers to adopt the innovation






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






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






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






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






50. Products created when firms transform raw materials from their original state