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






2. The process by which the use of a product spreads throughout the population






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






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






5. Costs involved in using a product






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






7. Costs involved in moving from one brand to another






8. 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






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






10. 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






11. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities






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






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






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






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






16. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief






17. 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






18. A product people often buy on the spur of the moment






19. A brand that a group of individual products or individual brands share






20. Brands that the manufacturer of the product owns






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






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






23. Moral standards that guide marketing decisions and actions






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






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






26. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs






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






28. When each family unit produces everything it consumes






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






30. The first segment (2.5%) of a population to adopt a new product






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






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






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






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






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






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






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






38. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix






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






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






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






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






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






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






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






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






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






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






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






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