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. Pricing that is intended to maximize customer satisfaction and retention






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






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






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






5. Costs involved in using a product






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






7. A social process that directs an economy






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






9. A means of measuring a website's success by tracking customers' movement around the company website






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






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






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






13. A homogeneous group of customers who will respond to a marketing mix in a similiar way






14. Charging a very high - premium price for a new product






15. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort






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






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






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






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






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






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






22. The value of a brand to an organization






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






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






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






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






28. 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






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






30. The seller fine tunes the marketing effort with info from a detailed customer database






31. Combining two or more submarkets into one larger target market as a basis for one strategy






32. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline






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






34. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm






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






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






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






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






39. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer






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






41. The actual interaction between the customer and the service provider






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






43. 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






44. 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






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






46. 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






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






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






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






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