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. 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






2. Sales forecasting based on the intuition of one or more executives






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






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






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






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






7. The strategy of selling products at unreasonably low prices to drive competitors out of business






8. 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






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






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






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






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






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






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






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






16. Collusion between suppliers responding to bid requests to lessen competition and secure higher margins






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






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






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






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






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






22. The last consumers to adopt the innovation






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






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






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






26. 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






27. Moral standards that guide marketing decisions and actions






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






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






30. 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






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






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






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






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






35. 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






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






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






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






39. The dimensions that consumers use to compare completing product alternatives






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






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






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






43. Brands that the manufacturer of the product owns






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






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






46. The cost of production (raw and processed materials - parts - and labor) that are tried to - and vary depending on - the number of units produced






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






48. The process whereby a consumer searches for appropriate information needed to make a reasonable decision






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






50. 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