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






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






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






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






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






6. Basic or necessary items that are available almost everywhere






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






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






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






10. 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






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






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






13. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace






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






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






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






17. Group of people within an organization who focus exclusively on the development of a new product






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






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






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






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






22. A brand that a group of individual products or individual brands share






23. 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






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






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






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






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






28. 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






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






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






31. Those who adopt an innovation early in the diffusion process but later than the innovators






32. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition






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






34. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner






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






36. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country






37. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item






38. 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






39. An aggregating process - clustering people with similar needs into a "market segment"






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






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






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






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






44. 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






45. 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






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






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






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






49. The last consumers to adopt the innovation






50. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories







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