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






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






3. Goods or services for which a consumer has little awareness or interest until the product or a need for the product is brought to his or her attention






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






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






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






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






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






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






10. Group of people within an organization who focus exclusively on the development of a new product






11. 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






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






13. A theory of leaning that stresses the importance of internal mental processes and that view people as problem solvers - who actively use information from the world around them to master their environment






14. The practice of setting a limited number of different specific prices - called price points - for items in a product line






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






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






17. A social process that directs an economy






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






19. The value of something that is given up to obtain something else






20. Pricing that is intended to maximize customer satisfaction and retention






21. Basic or necessary items that are available almost everywhere






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






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






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 value of a brand to an organization






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






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






28. A pricing tactic in which the seller absorbs the total cost of transportation






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






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






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






32. 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






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






34. The difference between the cost of the product and the selling price of the product






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






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






37. A pricing strategy that considers the lifetime cost of using the product






38. People whose children are grown and who are now able to spend their money in other ways






39. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief






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






41. 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






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






43. Opportunities that help innovators develop hard to copy marketing strategies that will be very profitable for a long time






44. Those who adopt an innovation early in the diffusion process but later than the innovators






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






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






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






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






49. A change in an existing product that requires a moderate amount of learning or behavior change






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