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






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






3. 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






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






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






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






7. People over 65






8. What is left after taxes






9. 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






10. 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






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






12. A social process that directs an economy






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






14. 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






15. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri






16. To try to find similar patterns within sets of data






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






18. Brands that the manufacturer of the product owns






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






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






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






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






23. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs






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






25. A new product sold with the same brand name as a strong existing brand






26. Pricing products to maximize sales or to attain a desired level of sales or market share






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






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






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






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






31. Brands that are owned and sold by a specific - retailer or distributor






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






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






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






35. The value of a brand to an organization






36. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer






37. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales






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






39. Combining two or more submarkets into one larger target market as a basis for one strategy






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






41. A product people often buy on the spur of the moment






42. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs






43. Costs involved in using a product






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






45. 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






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






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






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






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






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






Can you answer 50 questions in 15 minutes?



Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests