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






2. Segmenting the market and picking one of the homogeneous segments as the firms target market






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






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






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






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






7. An agreement in which one firm sells another firm the right to use a brand name for a specific purpose and for a specific period of time






8. 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






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






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






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






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






13. Products we purchase when we're in dire need






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






15. A manager who is responsible for developing and implementing the marketing plans for products sold to a specific customer group






16. 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






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






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






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






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






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






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






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






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






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






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






27. To try to increase the size of their target markets by combining two or more segments






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






29. The regret or remorse buyers may feel after making a purchase






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






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






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






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






34. 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






35. A new product that does not reach expectations for success - failing to reach sales objectives set






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






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






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






39. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses






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






41. 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






42. 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






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






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






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






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






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






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






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






50. People over 65






Can you answer 50 questions in 15 minutes?



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