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






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






3. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale






4. People over 65






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






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






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






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






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






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






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






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






13. When a percentage change in price results in a smaller percentage change in the quantity demanded






14. An agreement between two brands to work together in marketing new or existing products






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






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






17. 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






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






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






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






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






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






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






24. Basic or necessary items that are available almost everywhere






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






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






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






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






29. Pricing products to maximize sales or to attain a desired level of sales or market share






30. Costs involved in moving from one brand to another






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






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






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






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






35. 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






36. The final stage in the product life cycle - in which sales decrease as customer needs change






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






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






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






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






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






42. The value of a brand to an organization






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






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






45. A strategy of experimenting with prices until the price that generates the highest profitability is found






46. The last consumers to adopt the innovation






47. The legal term for a brand name - brand mark - or trade character; trademark legally registered by a government obtains protection for exclusive use in that country






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






49. A situation in which an increase or a decrease in price will not significantly affect demand for the product






50. 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