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






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






3. The practice of exchanging a good or service for another good or service of like value






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






5. The relative importance of perceived consequences of the purchase to a consumer






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






7. 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






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






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






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






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






12. Manufactured goods or subassemblies of finished items that organizations need to complete their own product






13. Communication and purchases that occur among individuals without directly involving the manufacturer or retailer






14. The process by which organization adjust their offering in an attempt to match demand






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






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






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






18. The amount of a product a company expects to sell during a specific period at a specified level of marketing activities






19. A method of predicting sales based on finding a relationship between past sales and one or more independent variables - such as population or income






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






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






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






23. Brands that are owned and sold by a specific - retailer or distributor






24. A homogeneous group of customers who will respond to a marketing mix in a similiar way






25. 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






26. The final stage in the product life cycle - in which sales decrease as customer needs change






27. Identifies and lists the firms strengths and weaknesses and its opportunities and threats






28. People born between 1946 and 1964






29. The overall feelings or attitude a person has about a product after purchasing it






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






31. 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






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






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






34. 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






35. The values - beliefs - customs - and tastes that a group of people value






36. What is left after taxes






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






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






39. The process by which people select - organize - and interpret information form the outside world






40. 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






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






42. The value that customers give up - or exchange - to obtain a desired product






43. A strategy where prices are set significantly higher than competing brands






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






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






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






47. Expensive goods that an organization uses in its daily operations that last for a long time






48. An integrated economic and social unit wit a large population nucleus






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






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