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






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






3. An analysis of daily - weekly or monthly sales figures to evaluate the degree to which seasonal factors influence sales






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






5. A situation in which an increase or a decrease in price will not significantly affect demand for the product






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






7. A marketing mix is tailored to fit some specific target customers






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






9. A totally new product that creates major changes in the way we live






10. A pricing tactic of charging reduced prices for larger quantities of product






11. 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






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






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






14. The first segment (2.5%) of a population to adopt a new product






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






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






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






18. Costs involved in moving from one brand to another






19. All the benefits the product will provide for consumers or business customers






20. 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






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






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






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






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






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






26. The percentage change in unit sales that results from a percentage change in price






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






28. Income that is adjusted to take out the effects of inflation on purchasing power






29. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter






30. 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






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






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






33. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events






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






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






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






37. A pattern of repeat product purchases - accompanied by an underlying positive attitude toward the brand - which is based on the belief that the brand makes products superior to its competition






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






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






40. Brands that the manufacturer of the product owns






41. Sometimes called millenials - refer to those born from 1978-1994






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






43. 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






44. Moral standards that guide marketing decisions and actions






45. The pricing strategy of setting prices below cost to attract customers into a store






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






47. A social process that directs an economy






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






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






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