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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 third and longest stage in the product life cycle - in which sales peak and profit margin narrows






2. 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






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






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






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






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






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






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






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






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






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






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






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






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






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






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






17. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale






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






19. 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






20. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales






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






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






23. The first segment (2.5%) of a population to adopt a new product






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






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






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






27. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes






28. 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






29. People born between 1946 and 1964






30. 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






31. 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






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






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






34. Relevant to including a customer type in a product market






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






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






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






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






39. 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






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






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






42. 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






43. People over 65






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






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






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






47. Moral standards that guide marketing decisions and actions






48. Costs involved in using a product






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






50. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences







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