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






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






3. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase






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






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






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






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






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






9. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses






10. A pricing tactic in which customers in different geographic zones pay different transportation rates






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






12. People over 65






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






14. 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






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






16. Moral standards that guide marketing decisions and actions






17. 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






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






19. 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






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






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






22. Basic or necessary items that are available almost everywhere






23. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item






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






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






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






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






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






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






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






31. A product people often buy on the spur of the moment






32. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm






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






34. 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






35. A new product that does not reach expectations for success - failing to reach sales objectives set






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. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix






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






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






40. The set of alternative brands the consumer is considering for the decision process






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






42. The percentage change in unit sales that results from a percentage change in price






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






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






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






46. An aggregating process - clustering people with similar needs into a "market segment"






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






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






49. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire






50. The psychological characteristics that consistently influence the way a person responds to situations in the environment