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






2. A market with broadly similar needs and sellers offering various - often divers - ways of satisfying those needs






3. The overall rank or social standing of groups of people within society according to the value assigned to such factors as family background - education - occupation - and income






4. The value of a brand to an organization






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






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






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






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






9. People born between 1946 and 1964






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






11. 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






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






13. 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






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






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






16. 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






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






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






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






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






21. 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






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






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






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






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






26. A pricing tactic in which the seller absorbs the total cost of transportation






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






28. Relevant to including a customer type in a product market






29. Sales forecasts prepared by experts such as economists - management consultants - advertising executives - college professors - or other persons outside the firm






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






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






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






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






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






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






36. 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






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






38. A relatively permanent change in behavior caused by acquired information or experience






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






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






41. The values - beliefs - customs - and tastes that a group of people value






42. 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






43. What is left after taxes






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






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






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






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






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






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






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