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






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






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






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






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






6. Pricing products with a focus on a target level of profit growth or a desired net profit margin






7. A decision-making method in which members of a panel of experts respond to questions and to each other until reaching agreement on an issue






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






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






10. The percentage change in unit sales that results from a percentage change in price






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






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






13. Number of babies born per 1000 people fluctuated greatly in last 65 years






14. A means of characterizing consumers based on the different family stages they pass through as they grow older






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






16. Means that a firm has a marketing mix that the target market sees as better than a competitors mix






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






18. The process by which a consumer or business customer begins to buy and use a new good - service - or idea






19. The pricing strategy of setting prices below cost to attract customers into a store






20. 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






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






22. 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






23. A flexible pricing strategy that reflects what individual customers are willing to pay






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






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






26. A two step process of naming brand product markets and segmenting these broad products markets in order to select target markets and develop suitable marketing mixes






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






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






29. 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






30. Products created when firms transform raw materials from their original state






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






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






33. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline






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






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






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






37. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






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






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






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






41. 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






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






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






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






45. What is left after taxes






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






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






48. A pricing tactic of charging reduced prices for larger quantities of product






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






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







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests