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 method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit






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






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






4. The process of eliminating interaction between customers and service providers






5. Communicating with large numbers of customers at the same time






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






7. The dimensions that consumers use to compare completing product alternatives






8. A strategy where prices are set significantly higher than competing brands






9. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






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






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






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






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






14. The price the end customer is expected to pay as determined by the manufacturer






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






16. A product that consumers perceive to be new and different form existing products






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






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






19. The difference between the cost of the product and the selling price of the product






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






21. Means that a firm has a marketing mix that the target market sees as better than a competitors mix






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






23. 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






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






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






26. The adopters who are willing to try new products when there is a little or no risk associated with the purchase - when the purchase becomes an economic necessity - or when there is a social pressure to purchase






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






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






29. Costs involved in moving from one brand to another






30. Basic or necessary items that are available almost everywhere






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






32. The value of something that is given up to obtain something else






33. Number of babies born per 1000 people fluctuated greatly in last 65 years






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






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






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






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






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






39. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs






40. A modification of an existing product that sets one brand apart from its competitors






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






42. 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






43. A new product sold with the same brand name as a strong existing brand






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






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






46. 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






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






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






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






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