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






2. A change in beliefs or actions as a reaction to real or imagined group pressure






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






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






5. A fairly homogeneous group of customers to whom a company wishes to appeal






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






7. The actual interaction between the customer and the service provider






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






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






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






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






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






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






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






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






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






17. Concept that explains how products go through four distinct stages from birth to death: introduction - growth - maturity - and decline






18. Costs involved in moving from one brand to another






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






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






21. People over 65






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






23. The division of a market according to benefits that consumers want from the product






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






25. Brands that the manufacturer of the product owns






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






27. 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






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






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






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






31. 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






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






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






34. Making a product available to buyers in one or more test areas and measuring purchases and consumer responses






35. 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






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






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






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






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






40. The process by which people select - organize - and interpret information form the outside world






41. Products that consumers purchase to signal membership in a desirable social class






42. 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






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






44. 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






45. A means of measuring a website's success by tracking customers' movement around the company website






46. 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






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






48. When each family unit produces everything it consumes






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






50. When a percentage change in price results in a larger percentage change in the quantity demanded