Test your basic knowledge |

Marketing Basics

Subject : business-skills
  • Answer 50 questions in 15 minutes.
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  • 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 modification of an existing product that sets one brand apart from its competitors

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

3. The pricing strategy of setting prices below cost to attract customers into a store

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

5. The collaboration of two or more firms in setting prices - usually to keep prices high

6. 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

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

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

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

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

11. A product that consumers perceive to be new and different form existing products

12. 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

13. A pricing strategy that considers the lifetime cost of using the product

14. A pricing tactic in which the cost of transporting the product from the factory to the customer's location is the responsibility of the customer

15. 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

16. People born between 1946 and 1964

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

18. 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

19. A pricing tactic for two items that must be used together; one item is priced very low and the firm makes its profit on another - high-margin item essential to the operation of the first item

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

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

22. A product people often buy on the spur of the moment

23. The third and longest stage in the product life cycle - in which sales peak and profit margin narrows

24. The final stage in the product life cycle - in which sales decrease as customer needs change

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

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

27. Products created when firms transform raw materials from their original state

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

29. Testing the complete marketing plan in a small geographic area that is similar to the larger market the firm hopes to enter

30. 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

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

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

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

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

35. Government payments made to protect domestic businesses or to reimburse them when they must price at or below cost to make a sale. the subsidy can be a cash payment or tax relief

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

37. 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

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

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

40. Which means that as a company produces larger numbers of a particular product the cost of each unit of product goes down

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

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

43. 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

44. A price-setting method based on estimated of demand at different prices

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

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

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

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

49. A brand that a group of individual products or individual brands share

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