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






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






3. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time






4. The relative importance of perceived consequences of the purchase to a consumer






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






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






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






8. 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






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






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






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






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






13. An agreement between two brands to work together in marketing new or existing products






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






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






16. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs






17. 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






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






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






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






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






22. Pricing that is intended to maximize customer satisfaction and retention






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






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






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






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






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






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






29. Basic or necessary items that are available almost everywhere






30. 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






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






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






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






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






35. A strategy where prices are set significantly higher than competing brands






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






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






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






39. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment






40. The price the end customer is expected to pay as determined by the manufacturer






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






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






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






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






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






46. 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






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






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






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






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