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. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories






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






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






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






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






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






7. People over 65






8. Communicating with large numbers of customers at the same time






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






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






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






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






13. Moral standards that guide marketing decisions and actions






14. The last consumers to adopt the innovation






15. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition






16. A social process that directs an economy






17. 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






18. 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






19. A strategy of experimenting with prices until the price that generates the highest profitability is found






20. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition






21. To try to increase the size of their target markets by combining two or more segments






22. 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






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






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






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






26. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses






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






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






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






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






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






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






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






34. The process by which people select - organize - and interpret information form the outside world






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






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






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






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






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






40. People born between 1946 and 1964






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






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






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






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






45. 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






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






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






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






49. Costs involved in using a product






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