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






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






4. A social process that directs an economy






5. A good or service with unique characteristics that are important to the buyer and for which the buyer will devote significant effort to acquire






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






7. A means of measuring a website's success by tracking customers' movement around the company website






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






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






10. An approach that categorizes motives according to five levels of importance - the more basic needs being on the bottom of the hierarchy and the higher needs at the top






11. The firm that sets prices first in a industry; other major firms in the industry follow the leader by standing in line






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






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






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






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






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






17. 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






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






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






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






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






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






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






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






25. The patter of living that determines how people choose to spend their time - money - and energy that reflects their values - tastes - and preferences






26. 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






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






28. A flexible pricing strategy that reflects what individual customers are willing to pay






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






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






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






32. Identifies and lists the firms strengths and weaknesses and its opportunities and threats






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






34. An aggregating process - clustering people with similar needs into a "market segment"






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






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






37. The process by which organization adjust their offering in an attempt to match demand






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






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






40. A strategy of experimenting with prices until the price that generates the highest profitability is found






41. 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






42. Number of babies born per 1000 people fluctuated greatly in last 65 years






43. 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






44. A method of selling prices in which the seller totals all the unit costs for the product and the adds the desired profit per unit






45. 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






46. Learning that occurs as the result of rewards of punishments






47. 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






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






49. The actual product plus other supporting features such as a warranty - credit - delivery - installation - and repair service after the sale






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