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






2. An analysis that focuses on aggregate sales data over a period of many years to determine general trends in annual sales






3. A social process that directs an economy






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






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






6. A pricing strategy that draws on past experience of the marketer in setting appropriate prices






7. 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






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






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






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






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






12. Goods that a business customer consumes in a relatively short time






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






14. 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






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






16. The idea that its important to meet present needs without compromising the ability of future generations to meet their own needs






17. Costs of production that do not change with the number of units produced






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






19. Pricing products to maximize sales or to attain a desired level of sales or market share






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






21. 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






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






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






24. The loss of sales of an existing product when a new item in a product line or product family is introduced






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






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






27. A plot of the quantity of a product that customers will buy in a market during a period of time at various prices if all other factors remain the same






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






29. Pricing that is intended to maximize customer satisfaction and retention






30. The marketing mix is distinct from and better than what is available from a competitor






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






32. Pricing intended to establish a desired image or positioning to prospective customers






33. The price the end customer is expected to pay as determined by the manufacturer






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






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






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






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






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






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






40. When each family unit produces everything it consumes






41. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale






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






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






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






45. The value of a brand to an organization






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






47. 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






48. Aim at one or more homogeneous segments and try to develop different marketing mix for each






49. The typical production oriented approach - vaguely aims at "everyone" with the same marketing mix






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







Sorry!:) No result found.

Can you answer 50 questions in 15 minutes?


Let me suggest you:

Browse all subjects

Browse all tests

Most popular tests



Major Subjects

Tests & Exams


AP
CLEP
DSST
GRE
SAT
GMAT

Browse all subjects

Browse all tests

Most popular tests