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






2. 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






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






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






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






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






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






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






9. 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






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






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






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






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






14. Costs involved in using a product






15. A pricing tactic in which the cost of loading and transporting the product to the customer is included in the selling price - paid by the manufacturer






16. A new product that copies with slight modification the design of an original product






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






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






19. Theories of learning that focus on how consumer behavior is changed by external events or stimuli






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






21. The value of a brand to an organization






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






23. A means of characterizing consumers based on the different family stages they pass through as they grow older






24. E-commerce that allows shoppers to purchase products through online bidding






25. The last consumers to adopt the innovation






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






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






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






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






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






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






32. 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






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






34. A social process that directs an economy






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






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






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






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






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






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






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






42. Pricing a new product low for a limited period of time to lower the risk for a customer






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






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






45. An actual or imaginary individual or group that has significant effect on an individual's evaluations - aspirations - or behavior






46. To try to increase the size of their target markets by combining two or more segments






47. Extent to which a firm fulfills a customers needs - desires - and expectations






48. A practice of charging different prices to a different customers to manage capacity while maximizing revenues






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






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