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. Basic or necessary items that are available almost everywhere






2. The loss of sales of an existing product when a new item in a product line or product family is introduced






3. A means of measuring a website's success by tracking customers' movement around the company website






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






5. 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






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






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






8. Discounts based only on the quantity purchased in individual orders






9. Expensive goods that an organization uses in its daily operations that last for a long time






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






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






12. A pricing strategy in which a firm sets prices that provide ultimate value to customers






13. 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






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






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






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






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






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






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






20. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit






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






22. 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






23. Pricing that is intended to have an effect on the marketing efforts of the competition






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






25. 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






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






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






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






29. 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






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






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






32. People over 65






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






34. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus






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






36. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline






37. 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






38. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it






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






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






41. Goods that a business customer consumes in a relatively short time






42. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures






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






44. A situation in which an increase or a decrease in price will not significantly affect demand for the product






45. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition






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






47. 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






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






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






50. Pricing a new product low for a limited period of time to lower the risk for a customer