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 mental rule of thumb that leads to a speedy decision by simplifying the process






2. The percentage change in unit sales that results from a percentage change in price






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






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






5. The set of alternative brands the consumer is considering for the decision process






6. Refers to the generation born immediately following the baby boom - from 1965-1977






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






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






9. 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






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






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






12. A strategy of frequently using sale prices to increase sales volume






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






14. The practice of setting a limited number of different specific prices - called price points - for items in a product line






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






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






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






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






19. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets






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






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






22. People born between 1946 and 1964






23. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace






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






25. Costs involved in using a product






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






27. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief






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






29. 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






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






31. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location






32. An agreement between two brands to work together in marketing new or existing products






33. Communicating with large numbers of customers at the same time






34. Aim at one or more homogeneous segments and try to develop different marketing mix for each






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






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






37. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






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






39. Sales forecasting based on the intuition of one or more executives






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






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






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






43. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline






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






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






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






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






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






49. The last consumers to adopt the innovation






50. A strategy of ducking under a competitor's price by a fixed percentage