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. People born between 1946 and 1964






2. Brands that are owned and sold by a specific - retailer or distributor






3. The last consumers to adopt the innovation






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






5. 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






6. A product that consumers perceive to be new and different form existing products






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






8. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue






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






10. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase






11. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior






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






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






14. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus






15. The division of a market according to benefits that consumers want from the product






16. Those who adopt an innovation early in the diffusion process but later than the innovators






17. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires






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






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






20. 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






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






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






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






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






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






26. A social process that directs an economy






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






28. The set of alternative brands the consumer is considering for the decision process






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






30. The difference between the cost of the product and the selling price of the product






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






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






33. When a percentage change in price results in a larger percentage change in the quantity demanded






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






35. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm






36. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line






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






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






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






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






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






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






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






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






45. A fairly homogeneous group of customers to whom a company wishes to appeal






46. The value of a brand to an organization






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






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






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






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