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. The pricing strategy of setting prices below cost to attract customers into a store






2. 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






3. Costs involved in moving from one brand to another






4. People born between 1946 and 1964






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






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






7. The values - beliefs - customs - and tastes that a group of people value






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






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






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






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






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






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






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






15. Products that exhibit consistently high velocity sales in the consumer marketplace






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






17. Extent to which a firm fulfills a customers needs - desires - and expectations






18. A pricing strategy that draws on past experience of the marketer in setting appropriate prices






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






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






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






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






23. 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






24. What is left after taxes






25. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix






26. 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






27. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






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






29. 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






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






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






32. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income






33. 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






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






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






36. People over 65






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






38. 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






39. A new product that copies with slight modification the design of an original product






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






41. 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






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






43. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows






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






45. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline






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






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






48. Those that actually affect the customers purchase of specific product or brand in a product market






49. 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






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