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 value of something that is given up to obtain something else






2. All the benefits the product will provide for consumers or business customers






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






4. People born between 1946 and 1964






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






6. 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






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






8. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues






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






10. Learning that occurs as the result of rewards of punishments






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






12. Income that is adjusted to take out the effects of inflation on purchasing power






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






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






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






16. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down






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






18. The process by which the use of a product spreads throughout the population






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






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






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






22. 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






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






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






25. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price






26. Brands that the manufacturer of the product owns






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






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






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






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






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






32. Sometimes called millenials - refer to those born from 1978-1994






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






34. Discounts based on the total quantity bought within a specified time period






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






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






37. 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






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






39. The physical good or the delivered service that supplies the desired benefit






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






41. 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






42. A pricing tactic of charging reduced prices for larger quantities of product






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






44. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category






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






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






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






48. When each family unit produces everything it consumes






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






50. Relevant to including a customer type in a product market







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