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






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






3. 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






4. The set of alternative brands the consumer is considering for the decision process






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






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






7. The process by which people select - organize - and interpret information form the outside world






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






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






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






11. A mental rule of thumb that leads to a speedy decision by simplifying the process






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






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






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






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






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






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






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






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






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






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






22. A pricing strategy that considers the lifetime cost of using the product






23. An analysis of sales figures for a period of 3 to 5 years to ascertain whether sales fluctuate in a consistent - periodic manner






24. When each family unit produces everything it consumes






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






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






27. A change in beliefs or actions as a reaction to real or imagined group pressure






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






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






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






31. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase






32. People over 65






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






34. Consumer products that provide benefits for a short time because they are consumed - such as food - or are no longer useful such as newspaper.






35. Which treats alternative products divisions - or strategic buisness units as though they were stock investments - to be bought and sold using financial criteria






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






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






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






39. The division of a market according to benefits that consumers want from the product






40. 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






41. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition






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






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






44. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire






45. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses






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






47. An arrangement unique to business marketing in which two organizations agree to buy from each other






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






49. The value that customers give up - or exchange - to obtain a desired product






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