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






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






3. The value of a brand to an organization






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






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






6. A learned predisposition to respond favorably or unfavorably to stimuli based on relatively enduring evaluations of people - objects - and issues






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






8. A process in which firms identify the quality and functionality needed to satisfy customers and what price they are willing to pay before the product is designed; the product is manufactured only if the firm can control costs to meet the required pri






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






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






11. When a percentage change in price results in a smaller percentage change in the quantity demanded






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






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






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






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






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






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






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






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






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






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






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






23. A consumer good or service that is usually low-prices - widely available - and purchase frequently with a minimum comparison and effort






24. 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






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






26. Moral standards that guide marketing decisions and actions






27. 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






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






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






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






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






32. A change in an existing product that requires a moderate amount of learning or behavior change






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






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






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






36. The psychological characteristics that consistently influence the way a person responds to situations in the environment






37. 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






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






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






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






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






42. A survey of a firm's sales force regarding anticipated sales in their territories for a specified period.






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






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






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






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






47. A person who is frequently able to influence others' attitudes or behaviors by virtue of his or her active interest and expertise in one or more product categories






48. An analysis attempting to attribute erratic sales variations to random - nonrecurrent events






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






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