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. A firm's total product offering designed to satisfy a single need or desire of target customers






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






3. 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






4. Learning that occurs as the result of rewards of punishments






5. People born between 1946 and 1964






6. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.






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






8. The actual interaction between the customer and the service provider






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






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






11. The practice of linking products to a particular social cause on an ongoing or short-term basis






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






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






14. Those who adopt an innovation early in the diffusion process but later than the innovators






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






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






17. The last consumers to adopt the innovation






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






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






20. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences






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






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






23. When each family unit produces everything it consumes






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






25. Costs involved in using a product






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






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






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






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






30. What is left after taxes






31. The process whereby a consumer searches for appropriate information needed to make a reasonable decision






32. People over 65






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






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






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






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






37. 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






38. 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






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






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






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






42. Products we purchase when we're in dire need






43. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes






44. 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






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






46. 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






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






48. 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






49. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace






50. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase