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






2. Relevant to including a customer type in a product market






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






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






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






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






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






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






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






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






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






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






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






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






15. 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






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






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






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






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






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






21. A practice of charging different prices to a different customers to manage capacity while maximizing revenues






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






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






24. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories






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






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






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






28. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income






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






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






31. Refers to the generation born immediately following the baby boom - from 1965-1977






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






33. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues






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






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






36. The last consumers to adopt the innovation






37. People born between 1946 and 1964






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






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






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






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






42. 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






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






44. The value of a brand to an organization






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






46. An aggregating process - clustering people with similar needs into a "market segment"






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






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






49. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales






50. To try to increase the size of their target markets by combining two or more segments