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






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






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






4. Brands that the manufacturer of the product owns






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






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






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






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






9. The practice of setting a limited number of different specific prices - called price points - for items in a product line






10. Moral standards that guide marketing decisions and actions






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






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






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






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






15. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment






16. The collaboration of two or more firms in setting prices - usually to keep prices high






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






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






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






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






21. Segmenting the market and picking one of the homogeneous segments as the firms target market






22. Products that consumers purchase to signal membership in a desirable social class






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






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






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






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






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






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






29. 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






30. All the benefits the product will provide for consumers or business customers






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






32. Brands that are owned and sold by a specific - retailer or distributor






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






34. 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






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






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






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






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






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






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






42. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales






43. An arrangement unique to business marketing in which two organizations agree to buy from each other






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






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






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






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






48. Costs involved in moving from one brand to another






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






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