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. Communicating with large numbers of customers at the same time






2. The value of a brand to an organization






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






4. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix






5. Combining two or more submarkets into one larger target market as a basis for one strategy






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






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






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






9. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs






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






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






12. 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






13. A marketing mix is tailored to fit some specific target customers






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






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






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






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






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






19. A relatively permanent change in behavior caused by acquired information or experience






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






21. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer






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






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






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






25. The physical good or the delivered service that supplies the desired benefit






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






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






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






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






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






31. 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






32. 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






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






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






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






36. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down






37. Sometimes called millenials - refer to those born from 1978-1994






38. 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






39. 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






40. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows






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






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






43. Identifies and lists the firms strengths and weaknesses and its opportunities and threats






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






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






46. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group






47. 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






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






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






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