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






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






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






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






5. What is left after taxes






6. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets






7. People over 65






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






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






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






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






12. The value of a brand to an organization






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






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






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






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






17. The process whereby a consumer searches for appropriate information needed to make a reasonable decision






18. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it






19. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli






20. Aim at one or more homogeneous segments and try to develop different marketing mix for each






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






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






23. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows






24. The practice of setting a limited number of different specific prices - called price points - for items in a product line






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






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






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






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






29. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income






30. People born between 1946 and 1964






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






32. The belief that use of a product has potentially negative consequences - either financial - physical or social






33. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline






34. A pricing tactic in which a firm adds a standard shipping charge to the price for all customers regardless the location






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






36. 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






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






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






39. 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






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






41. The percentage change in unit sales that results from a percentage change in price






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






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






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






45. Manufactured goods or subassemblies of finished items that organizations need to complete their own product






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






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






48. A pricing strategy that considers the lifetime cost of using the product






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






50. Moral standards that guide marketing decisions and actions