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






2. Charging a very high - premium price for a new product






3. People over 65






4. Identifies and lists the firms strengths and weaknesses and its opportunities and threats






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






6. 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






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






8. The price the end customer is expected to pay as determined by the manufacturer






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






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






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






12. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention






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






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






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






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






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






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






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






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






21. 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






22. The strategy of selling products at unreasonably low prices to drive competitors out of business






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






24. Tohose whose adoption to a new product signals a general acceptance of the innovation






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






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






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






28. Costs involved in using a product






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






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






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






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






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






34. Pricing products with a focus on a target level of profit growth or a desired net profit margin






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






36. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter






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






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






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






40. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women






41. The last consumers to adopt the innovation






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






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






44. 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






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






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






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






48. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix






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






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