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. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes






2. An arrangement unique to business marketing in which two organizations agree to buy from each other






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






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






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






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






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






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






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






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






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






12. Costs involved in using a product






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






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






15. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer






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






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






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






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






20. 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






21. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri






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






23. A strategy of frequently using sale prices to increase sales volume






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






25. In the context of product diffusion - the point when a product's sales spike from a slow climb to an unprecedented new level - often accompanied by a steep price decline






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






27. The belief that use of a product has potentially negative consequences - either financial - physical or social






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






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






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






31. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






32. A new product sold with the same brand name as a strong existing brand






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






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






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






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






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






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






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






40. A relatively permanent change in behavior caused by acquired information or experience






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






42. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition






43. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top






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






45. The pricing strategy in which the price can easily be adjusted to meet changes in the marketplace






46. A good or service for which consumers spend considerable time and effort gathering information and comparing alternatives before making a purchase






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






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






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






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