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 collaboration of two or more firms in setting prices - usually to keep prices high






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






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






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






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






6. 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






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






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






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






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






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






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






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






14. Pricing intended to establish a desired image or positioning to prospective customers






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






16. A pricing strategy that draws on past experience of the marketer in setting appropriate prices






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






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






19. A strategy of experimenting with prices until the price that generates the highest profitability is found






20. A product that consumers perceive to be new and different form existing products






21. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line






22. Costs of production that do not change with the number of units produced






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






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






25. The difference between the cost of the product and the selling price of the product






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






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






28. A pricing strategy in which a firm sets prices that provide ultimate value to customers






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






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






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






32. People whose children are grown and who are now able to spend their money in other ways






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






34. 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






35. 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






36. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group






37. Products that exhibit consistently high velocity sales in the consumer marketplace






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






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






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






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






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






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






44. The values - beliefs - customs - and tastes that a group of people value






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






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






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






48. A new product that does not reach expectations for success - failing to reach sales objectives set






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






50. A marketing mix is tailored to fit some specific target customers