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






2. Products that consumers purchase to signal membership in a desirable social class






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






4. A situation in which an increase or a decrease in price will not significantly affect demand for the product






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






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






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






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






9. A totally new product that creates major changes in the way we live






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






11. A social process that directs an economy






12. Moral standards that guide marketing decisions and actions






13. Discounts based on the total quantity bought within a specified time period






14. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






15. Goods that a business customer consumes in a relatively short time






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






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






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






19. When a percentage change in price results in a smaller percentage change in the quantity demanded






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






21. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria






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






23. Brands that the manufacturer of the product owns






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






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






26. 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






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






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






29. The value that customers give up - or exchange - to obtain a desired product






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






31. 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






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






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






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






35. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace






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






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






38. A mental rule of thumb that leads to a speedy decision by simplifying the process






39. The regret or remorse buyers may feel after making a purchase






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






41. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.






42. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events






43. A strategy of ducking under a competitor's price by a fixed percentage






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






45. An internal state that drives us to satisfy needs by activating goal-oriented behavior






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






47. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time






48. When each family unit produces everything it consumes






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






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