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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 pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer






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






3. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner






4. The process by which organization adjust their offering in an attempt to match demand






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






6. 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






7. Brands that the manufacturer of the product owns






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






9. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income






10. 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






11. Relevant to including a customer type in a product market






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






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






14. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires






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






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






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






18. 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






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






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






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






22. The process by which a consumer or business customer begins to buy and use a new good - service - or idea






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






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






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






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






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






28. E-commerce that allows shoppers to purchase products through online bidding






29. A change in an existing product that requires a moderate amount of learning or behavior change






30. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter






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






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






33. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer






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






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






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






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






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






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






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






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






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






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






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






45. Income that is adjusted to take out the effects of inflation on purchasing power






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






47. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country






48. Pricing products to maximize sales or to attain a desired level of sales or market share






49. A pricing strategy that considers the lifetime cost of using the product






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







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