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. 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






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






3. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item






4. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs






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






6. The second stage in the product life cycle - during which the product is accepted and sales rapidly increase






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






8. Relevant to including a customer type in a product market






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






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






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






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






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






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






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






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






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






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






19. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down






20. 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






21. The collection - analysis - and distribution of all the info needed to plan - carry out - and control marketing activities - wether in the firms own neighborhood or in a market overseas






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. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






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






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






26. Behavior caused by a reaction to one stimulus that occurs in the presence of other similar stimuli






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






28. Basic or necessary items that are available almost everywhere






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






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






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






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






33. 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






34. A group within a society whose members share a distinctive set of beliefs - characteristics - or common experiences






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






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






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






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






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






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






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






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






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






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






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






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






47. Tangible products we can see - touch - smell - hear - taste






48. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item






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






50. People over 65