Test your basic knowledge |

Marketing Basics

Subject : business-skills
  • Answer 50 questions in 15 minutes.
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  • 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. When a percentage change in price results in a larger percentage change in the quantity demanded

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

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

4. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire

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

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. 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

8. 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

9. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer

10. Brands that the manufacturer of the product owns

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

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

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

14. A change in beliefs or actions as a reaction to real or imagined group pressure

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

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

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

18. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences

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

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

21. Expensive goods that an organization uses in its daily operations that last for a long time

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

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

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

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

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

27. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top

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

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

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

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

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

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

34. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort

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

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

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

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

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

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

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

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

44. A flexible pricing strategy that reflects what individual customers are willing to pay

45. Pricing that is intended to have an effect on the marketing efforts of the competition

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

47. 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

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

49. Pricing a new product low for a limited period of time to lower the risk for a customer

50. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace