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 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






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






3. An organizational unit that focuses on some product markets and is treated as a separate profit center






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






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






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






7. 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






8. Moral standards that guide marketing decisions and actions






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






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






11. The overall feelings or attitude a person has about a product after purchasing it






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






13. Sales forecasting based on the intuition of one or more executives






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






15. 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






16. To try to find similar patterns within sets of data






17. The strategy of selling products at unreasonably low prices to drive competitors out of business






18. To try to increase the size of their target markets by combining two or more segments






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






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






21. 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






22. The belief that use of a product has potentially negative consequences - either financial - physical or social






23. Group of people within an organization who focus exclusively on the development of a new product






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






25. Theories of learning that focus on how consumer behavior is changed by external events or stimuli






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






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






28. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales






29. A manager who is responsible for developing and implementing the marketing plan for a single brand






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






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






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






33. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli






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






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






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






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






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






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






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






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






42. A strategy of experimenting with prices until the price that generates the highest profitability is found






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






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






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






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






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






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






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






50. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income