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






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






3. A mental rule of thumb that leads to a speedy decision by simplifying the process






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






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






6. Selling two or more goods or services as a single package for one price






7. A firm's total product offering designed to satisfy a single need or desire of target customers






8. Charging a very high - premium price for a new product






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






10. The first stage of the product life cycle in which slow growth follows the introduction of a new product in the marketplace






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






12. 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






13. Discounts off the list price of products to members of the channel of distribution that perform various marketing functions






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






15. 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






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






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






18. An illegal marketing practice in which an advertised price special is used as bait to get customers into the store with the intention of switching them to a higher-priced item






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






20. The practice of recognizing and targeting the distinctive needs and wants of one or more ethnic subcultures






21. Moral standards that guide marketing decisions and actions






22. An individual's self-image that is composed of a mixture of beliefs - observations - and feelings about personal attributes






23. The illegal practice of offering the same product of like quality and quantity to different business customers at different prices - thus lessening competition






24. A market with very similar needs and sellers offering various close substitute ways of satisfying those needs






25. An agreement between two brands to work together in marketing new or existing products






26. A forecasting method that uses historical sales data to discover patterns in the firm's sales over time and generally involves trend - cycle - seasonal - and random factor analyses






27. The belief that use of a product has potentially negative consequences - either financial - physical or social






28. A pricing strategy in which a firm introduces a new product at a very low price to encourage more customers to purchase it






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






30. Communicating with large numbers of customers at the same time






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






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






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






34. A strategy of frequently using sale prices to increase sales volume






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






36. Brands that the manufacturer of the product owns






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






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






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






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






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






42. What is left after taxes






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






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






45. Society's expectation about the appropriate attitudes - behaviors - and appearance for men and women






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. The dimensions that consumers use to compare completing product alternatives






48. Products of the fishing - lumber - agricultural - and mining industries that organizational customers purchase to use in their finished products






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






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