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






2. Learning that occurs when a stimulus eliciting a response is paired with another stimulus that initially does not elicit a response over time because of its association with the first stimulus






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






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






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






6. 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






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






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






9. A set of price or a price range in consumers' minds that they refer to in evaluating a product's price






10. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter






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






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






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






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






15. The marketing mix is distinct from and better than what is available from a competitor






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






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






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






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






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






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






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






23. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows






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






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






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






27. The first segment (2.5%) of a population to adopt a new product






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






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






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






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






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






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






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






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






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






37. A pricing strategy in which a firm sets prices that provide ultimate value to customers






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






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






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






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






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






43. 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






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






45. A name - term - symbol - or any other unique element of a product that identifies one firm's product(s) and sets it apart from the competition






46. The loss of sales of an existing product when a new item in a product line or product family is introduced






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






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






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






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