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. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales






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






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






4. Costs involved in moving from one brand to another






5. Extent to which a firm fulfills a customers needs - desires - and expectations






6. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer






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






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






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






10. 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






11. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.






12. The last consumers to adopt the innovation






13. A firm's total product offering designed to satisfy a single need or desire of target customers






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






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






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






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






18. Products created when firms transform raw materials from their original state






19. 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






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






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






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






23. Brands that the manufacturer of the product owns






24. Costs involved in using a product






25. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins






26. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas






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






28. A survey of customers regarding the types and quantities of products they intend to buy during a specific period






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






30. 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






31. Means that a firm has a marketing mix that the target market sees as better than a competitors mix






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






33. An integrated economic and social unit wit a large population nucleus






34. 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






35. The final stage in the product life cycle - in which sales decrease as customer needs change






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






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






38. The practice of exchanging a good or service for another good or service of like value






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






40. A social process that directs an economy






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






42. Tangible products we can see - touch - smell - hear - taste






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






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






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






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






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






48. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production






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






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