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






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






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






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






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






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






7. People over 65






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






9. 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






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






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






12. A method for calculating price in which - to maintain full plant operating capacity - a portion of a firm's output may be sold at a price that covers only marginal costs of production






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






14. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






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






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






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






18. An approach to market segmentation in which organizations focus precise marketing efforts on very small geographic markets






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






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






21. Products that exhibit consistently high velocity sales in the consumer marketplace






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






23. A pricing tactic in which customers in different geographic zones pay different transportation rates






24. A strategy of ducking under a competitor's price by a fixed percentage






25. The relative importance of perceived consequences of the purchase to a consumer






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






27. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins






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






29. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief






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






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






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






33. 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






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






35. 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






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






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






38. Expensive goods that an organization uses in its daily operations that last for a long time






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






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






41. A totally new product that creates major changes in the way we live






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






43. The last consumers to adopt the innovation






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






45. The process involved when individuals or groups select - purchase - use - and dispose of goods - services - ideas - or experiences to satisfy their needs and desires






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






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






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






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






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