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






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






3. A social process that directs an economy






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






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






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






7. The last consumers to adopt the innovation






8. Tohose whose adoption to a new product signals a general acceptance of the innovation






9. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures






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






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






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






13. Costs involved in moving from one brand to another






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






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






16. Segmenting the market and choosing two or more segments and then treating each as a separate target market needing a different marketing mix






17. 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






18. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences






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






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






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






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






23. A product people often buy on the spur of the moment






24. 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






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






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






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






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






29. Discounts based on the total quantity bought within a specified time period






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






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






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






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






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






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






36. 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






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






38. Consumers products that provide benefits over a long period of time - such as cars - furniture - and appliances






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






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






41. Moral standards that guide marketing decisions and actions






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






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






44. 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






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






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






47. The process of eliminating interaction between customers and service providers






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






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






50. 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