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






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






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






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






5. 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






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






7. Pricing a new product low for a limited period of time to lower the risk for a customer






8. 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






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






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






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






12. Those that actually affect the customers purchase of specific product or brand in a product market






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






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






15. 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






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






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






18. The pricing strategy of setting prices below cost to attract customers into a store






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






20. People whose children are grown and who are now able to spend their money in other ways






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






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






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






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






25. Extent to which a firm fulfills a customers needs - desires - and expectations






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






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






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






29. People over 65






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






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






32. A group of potential customers with similar needs who are willing to exchange something of value with sellers offering various goods or services - that is ways of satisfying those needs






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






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






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






36. An internal state that drives us to satisfy needs by activating goal-oriented behavior






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






38. 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






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






40. A strategy of frequently using sale prices to increase sales volume






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






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






43. The regret or remorse buyers may feel after making a purchase






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






45. When a percentage change in price results in a larger percentage change in the quantity demanded






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






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






48. The practice of exchanging a good or service for another good or service of like value






49. Costs of production that do not change with the number of units produced






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