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 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






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






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






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






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






6. 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






7. 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






8. Selling two or more goods or services as a single package for one price






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






10. A means of characterizing consumers based on the different family stages they pass through as they grow older






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






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






13. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli






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






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






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






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






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






19. The regret or remorse buyers may feel after making a purchase






20. 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






21. 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






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






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






24. A homogeneous group of customers who will respond to a marketing mix in a similiar way






25. The process of eliminating interaction between customers and service providers






26. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses






27. The value of something that is given up to obtain something else






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






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






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






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






32. Pricing that is intended to have an effect on the marketing efforts of the competition






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






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






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






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






37. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced






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






39. The practice of linking products to a particular social cause on an ongoing or short-term basis






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






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






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






43. 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






44. 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






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






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






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






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






49. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix






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