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 actual interaction between the customer and the service provider






2. Selling two or more goods or services as a single package for one price






3. A manager who is responsible for developing and implementing the marketing plan for all the brands and products within a product category






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






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






6. To try to find similar patterns within sets of data






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






8. 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






9. A modification of an existing product that sets one brand apart from its competitors






10. When each family unit produces everything it consumes






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






12. Buying - selling - transporting - storing - standardization and grading - financing - risk taking - and market information






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






14. Group of people within an organization who focus exclusively on the development of a new product






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






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






17. A social process that directs an economy






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






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






20. Pricing products with a focus on a target level of profit growth or a desired net profit margin






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






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






23. The marketing mix is distinct from and better than what is available from a competitor






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






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






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






27. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances






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






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






30. Costs of production that do not change with the number of units produced






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






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






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






34. 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






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






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






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






38. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri






39. Charging a very high - premium price for a new product






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






41. Manufactured goods or subassemblies of finished items that organizations need to complete their own product






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






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






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






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






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






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






48. 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






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






50. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace